Protect Your Assets – Talk To A Divorce Attorney To Avoid Being Ripped Off By Bitcoins Concealment
Bitcoins are defined as a cryptocurrency and are the first of their kind. Cryptocurrency is just a fancy term for “encryption” meaning only authorized parties can read it. This essentially allows individuals to store bitcoins without any link to themselves, drastically differing from bank accounts or stocks. Bitcoins, unlike traditional currencies like the US Dollar, aren’t backed by governments and aren’t influenced by monetary policy. This makes bitcoin more like gold than any other currency since its value rests entirely on how much people are willing to pay and how much its users believe in it. Bitcoins are traded from one personal ‘wallet’ to another. A wallet is a small personal database that you store on your computer drive, on your smartphone, on your tablet, or somewhere in the cloud.
Bitcoins came into existence in 2009 when creator Satoshi Nakamoto (which is presumed a pseudonym) launched the network as an “electronic peer-to-peer currency.” Since the introduction of bitcoins, several other crypto-currencies have emerged. Bitcoin is digital public money that is created by painstaking mathematical computations, and policed by millions of computer users called … Read More... “Bitcoins and Hiding Assets in a Divorce Action”