To pay the bills, Mr. Durov is issuing investors $1 billion to $1.5 billion of company debt, with the promise of discounted equity if the company eventually goes public, the people briefed on the plans said. He has also announced plans to start selling ads in public Telegram channels as soon as later this year, as well as offering other premium services for businesses and users.
What Is Bitcoin?
Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. BitcoinтАЩs creator, Satoshi Nakamoto, originally described the need for тАЬan electronic payment system based on cryptographic proof instead of trust.тАЭ Each and every Bitcoin transaction thatтАЩs ever been made exists on a public ledger accessible to everyone, making transactions hard to reverse and difficult to fake. ThatтАЩs by design: Core to their decentralized nature, Bitcoins arenтАЩt backed by the government or any issuing institution, and thereтАЩs nothing to guarantee their value besides the proof baked in the heart of the system. тАЬThe reason why itтАЩs worth money is simply because we, as people, decided it has valueтАФsame as gold,тАЭ says Anton Mozgovoy, co-founder & CEO of digital financial service company Holyheld.
