Bitcoin is such a fascinating technology, it seeks to solve the long aged problem associated with the traditional banking system, through a decentralized peer-peer trusted network called the blockchain. Bitcoin is just similar to gold that people are willing to pay anything for in the hope of future appreciation in overall value. while the dollar is backed by government legislation, and has no commodity backing it up. But the bitcoin is been backed by proof-of-work. For example, when the government needs money, they simply print, and when there is no production or export of goods to meet up with the excess cash, it gives rise to high-inflation, or even hyperinflation like in the case of Zimbabwe wherein money failed and their currency became useless. The case will not be so with bitcoin as we already know that it's programmed in such a way to have a fixed supply of 21million bitcoin in it entire life. It will be wise for anyone to buy as much as they can and keep them for the future.

Some pundit, IT gurus and economics think and believe some billions of the world population will use bitcoin in the future, let's think about what this will be like when this prediction comes to pass. The value  will never remain the same. The issue of bitcoin is very complex and wide, One of the things that actually fascinate me is the economic reward.

MINERS GET  A DAILY REWARD OF 1,800BTC

The process of printing cash/fiat(walking corpse) is called minting while the process of getting a new bitcoin is called miners, and mining are done by specialized computers, this consumes a lot of power, through the solving a difficult mathematical set. As a reward to the miners a certain amount of bitcoin is released as a reward.  This reward is currently 12.5BTC per block and new blocks are created approximately every 10mins, the block reward is halved every 4years, until the total number of bitcoins are mined to zero. We expect a halving of the reward by year 2020. Simple Mathematics: If 12.5BTC are released every 10mins, therefore 75BTC are released every hour and when we multiply this by 24, then 1,800BTC are released every 24hrs been reward for discovering a new block by miners, the good part of this is that: any miner who is able to successfully guess a new consensus block will be rewarded with 12.5BTC, this is not mere feet to come through. The difficulty level of the bitcoin mining does increase at approximately 2016 block which is about 2weeks, which makes it very competitive and complex. Proof-Of-work(POW).

The above write up is just a tip of an iceberg about the bitcoin, this knowledge was partly  gotten from Nicosia University, Cyprus. Free Online Cryptocurrency course