Mining or buying bitcoins are considered some pretty profitable ways of making money. But in the future, the currency could simply collapse, which is a scenario that nobody would have betted on a while ago. The wild claim comes from Stefan Ingves, who is the governor of the central bank of Sweden.
Investing.com speaks about Ingves’ claims that will surely shock a lot of people.
During a banking conference in Stockholm, Ingves declared as quoted by Investing.com:
Private money usually collapses sooner or later,
And sure, you can get rich by trading in bitcoin, but it’s comparable to trading in stamps.
For the moment, there is no way to mine a single bitcoin. Crypto miners will mine just one block, and the reward is set at 6.25 BTC per block. To mine a block, it takes 10 minutes.
El Salvador adopts Bitcoin as its currency
According to New Scientist, El Salvador adopts bitcoin as its currency. President Nayib Bukele hopes that bitcoin will get to alleviate the economic problems of the state.
According to SimpliLearn.com, a person or group known as Satoshi Nakatomo introduced Bitcoin to the world in 2009. The person or group disappeared from the internet in 2010. Nobody knows the identity of Bitcoin’s creator.