You have probably heard a lot lately about the so called “Bitcoins Phenomenon” but what you do not know is that there is a lot of potential gold and silver just sitting on the sidelines waiting to be retrieved. For many years people have been looking for ways to store value like gold and silver and now the Internet has brought this idea of safe storage of value right to you home base. There are several different ways to invest in precious metals like gold and silver but one way that is very under utilized is through the use of the virtual currency known as “bitcoins”. There are several things to know about the mysteries of bitcoins but I am only going to talk about a few of them here.
First, I want to talk about why I think it is important that you know and understand that bitcoins are not backed by any type of government or central bank. You see, the very nature of the technology that makes up bitcoins is that it is private. If you think about how private money is, the central banks of the world all hold private portfolios of money that is held on public exchanges and exposed to all of the public eyes. Contrast this with private investment portfolios that are kept private from the public and only known to a few people at a time. This difference is what makes private investment such a great concept because no matter what happens the value of your portfolio will never dip and will always be quite high. The same is true for the bitcoins and they are based on the same principles.
Second, one thing that you need to know about the mysteries of bitcoins is that they can not be printed like traditional currencies can. Bitcoins cannot be printed like regular paper money because there is a private network that keeps the records of all of the transactions that have ever taken place. Anyone that asks about the logistics of how the bitcoins will get to their hands will simply be told that they are private and secure. The actual physical process of transferring the coins from one person to another is actually quite difficult, because you are dealing with hackers and this kind of thing has not been going on for a long time.