Bitcoin-Its Creation

Bitcoin-Its Creation

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With the passing of each decade, the world is becoming a more and more difficult place to live in. Mankind has to resort to doing things that he would not want to do normally simply to make ends meet.

Things have taken a turn for the worst in current times due to a host of reasons, the most prominent amongst which is the overburdening population that has been festering wounds to which the gradual depletion of natural resources and the incompetency of the governments acting as rubbing salt.

The job opportunities are few and far between due to the above factors and the doctrine method of school education is one that is slowly becoming obsolete with everyone becoming absolutely fed up of the mindless, note reading and memorizing of long sentences full of jargons and always looking for a way out.

Fortunately, it is technology that has played the most important role in this regard and has changed the lives of many people for the better by solving this problem to a large extent.

Technology dates back to the prehistoric era of stone age. The most important discoveries and inventions were in different time periods for the betterment of mankind and utilized effectively that most of them have become normal and ordinary tools for solving everyday problems in current times.

While it is true that a job provides you a platform to earn a living in order to make ends meet and feed your family, it does not guarantee a secure future. The one reason for which you took up the job in the first place, there is no job in the world at the moment that you can rely upon completely.

People are so fed up with the meager income that generates from different jobs that most of them either resort to suicide or try to put up their own business someway or the other.

In this new age of the new millennium, there are certain industries that are up and coming that you can see is being joined by different people from different walks of life. One of them is multi-level marketing, also termed as network marketing or direct selling industry.

Another one is the IT industry which has been a tried and tested method with many companies thriving in name and form to establish itself as the very best in the world and most individuals, to be on the safer side, flock to it in large numbers instead of relying on government jobs or reputed organizations.

To find a foothold in the world of information technology, you will need to have advance software skills and a passion for computers and gadgets. Software engineers, right from day one, jump into action by doing advanced research analysis and projects and immerse themselves into long books with hard bound cover.

But the above group is also a minority these days with many potential aspirants not able to cope up with the pressure and eventually giving up some feeble tries. They want a more easy way out without having to slog it out in offices from dawn to dusk.

A very creative and innovative method was discovered for this problem. It is called bitcoin. A digital currency through which you can make financial transactions in a jiffy with different people all around the world, it quickly became a success with many investors and youngsters earning millions everyday.

The idea came about in 2008 to tackle the growth of inflation by launching an online, cashless method of transaction through crypto-currency. With a registered domain called , it ushered in a new era of financial transactions to promote a cashless economy by going digital.

A betrugscheck (read fraud check) to detect the possibilities of financial fraud were made and the network was finally launched in January 2009. But after the initial success, there came the decline period with certain limitations being detected regarding transactions not being verified.

This resulted in innumerable number of bitcoins being created and in one instance, around 240 bitcoins were generated in a single transaction. This potentially fatal flaw increased the chances of security breach and violation and was a major factor in the downfall of bitcoin which is today on the brink of extinction.