Sources of bitcoin

The common situation with the money we use daily is that the government prints the money and distributes it for everyone to use. That money is the property of the government and is under its total control. The fact that the government prints money whenever the need arises makes this money to be affected by inflation, which is the loss of value. Every year money loses value and the amount of commodities a certain amount of money can buy gets reduced.

On the other hand, a fixed number of bitcoins (21 million) has been produced and no more bitcoins will be produced again. This makes bitcoin a scarce commodity which has a very high demand and the end result is to counter inflation. Instead, bitcoin appreciates in value overtime. The scarcity is further increased by the fact that currently only 12.5 btc are released every 10 minutes and this number will reduce by half to 6.25 btc in 2021, and 3.125 btc in 2025, and son on until the year 2140 when all bitcoin are released and in circulation.

Now you know that all the bitcoins have been manufactured and being released into the market at regular intervals. It is up to you to make a decision of how you want to obtain your bitcoin. You have a few options available to you, each with its own pros and cons. You can buy bitcoin from dealers or from a bitcoin ATM. When you buy, you have that fixed amount of bitcoin and when you sell it or use it, it’s gone and you have to buy it again. The price will probably be higher when you buy again. You can also accept bitcoin as a form of payment if you have a shop or service to offer. That way you get bitcoin and keep and sell it when the price is right. You can also become a miner of bitcoin by joining other miners who verify bitcoin transactions from all over the world and get paid with the newly released bitcoins plus transaction costs. Mining is done daily, hence you accumulate bitcoin daily and sell when the price is right and also have the liberty of selling or using your bitcoin knowing you will continue to mine more bitcoin. You can mine solo or join other mining companies available. Visit our webpage https://www.dubeminer.com to get more information on the options available to you. Subscribe to our newsletter and receive news and updates on bitcoin and related technologies.