Brief history of Bitcoin
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| Brief history of Bitcoin |
Bitcoin is the world's first cryptocurrency. It is a peer-to-peer coin and a decentralized, consensus-based public book trade system called Blockchain that records all transactions.
Bitcoin was considered by Satoshi Nakamoto in 2008, but has been the subject of long-term studies on crypto and blockchain and not just on the work of an individual. It was unrealistic to imagine that cryptographers and free trade representatives had a decentralized blockchain-based currency without borders. Your dream has now come true with the growing appeal of Bitcoin and other altcoins around the world.
Currently, the cryptocurrency was originally provided on the mutually agreed blockchain in 2009 and the very year it was first traded. In July 2010, the cost of bitcoin was only 8 cents, and the variety of miners and knots was much less than tens of thousands today.
Within a year, the new money had grown to $ 1 and became an attractive prospect for the future. Mining was relatively easy, just as people made big profits by trading or in some cases even paying with it.
In 6 months the money doubled again and reached $ 2. Although the cost of Bitcoin is never constant at any point, it has long exposed this ridiculous growth pattern. In July 2011, the piece went wild by a factor and hit the record cost of $ 31, but the market quickly found that it was undervalued compared to the gains made and landed at $ 2 again. .
In December 2012, there was a healthy and balanced rise to $ 13, but the costs are likely to rise very soon. In four months to April 2013, the price had actually increased to $ 266. It then rallied to $ 100, but this huge rate hike increased its fame for the first time when people started to question the actual situation with Bitcoin.
Around that time I got used to the new money. However, I had my questions when I discovered more the more it became clear that money is the future because I had no one to adjust or tax it. Everything had to be done with total consensus, which made it as solid as it was complementary.
2013 was therefore the year of currency growth. Large companies openly prefer the acceptance of Bitcoin, just as blockchain has become a popular topic for computer technology programs. Many people assumed that Bitcoin had offered its functionality and would now work.
However, money has become much more popular as Bitcoin ATMs are established around the world and other competitors are starting to flex their muscles from different market angles. Ethereum created the first programmable blockchain and Litecoin and Ripple also started as cheaper and faster alternatives to Bitcoin.
The wonderful number of USD 1,000 was exceeded for the first time in January 2017 and has quadrupled since then until September. It is truly an extraordinary achievement for a coin that was only worth 8 cents 7 years ago.
Bitcoin also survived a difficult range on August 1, 2017, and has also risen almost 70% since then, during the range in which Bitcoin money was successful. It all comes from the charm of the coin and also from the outstanding modern blockchain technology behind it.
While traditional economists argue that this is a bubble and that the whole world of cryptography would drop, this is simply not the case. There is no bubble because it is an observable reality that has actually eaten Fiat currency stocks and cash transaction companies.
The future is extremely intense for Bitcoin and it is never too late to invest in Bitcoin in the short and long term.