In December 2017, the value of one bitcoin exceeded USD 19,000 before dipping again to $13,000 in January 2018. All of this within half a year! The volatility of this cryptocurrency has led many to call it a bubble – but the more you understand digital money and the blockchain technology behind it, the more convinced you may be that it’s here to stay.
The digital currency bitcoin has seen its value skyrocket over the past year. If you’re wondering why that is, it’s probably time to brush up on your knowledge of the history of this popular digital currency. Bitcoin has existed since 2009, but its origin dates back to 2002 when an anonymous programmer or group of programmers developed it as part of an open-source software project.
This article will cover everything from the basics of blockchain technology to bitcoin mining and how it affects investors and consumers alike, so read on to learn more about bitcoin and its future impact on society as we know it!
A Brief History of Bitcoins
Bitcoins have been all over the news lately, and if you’re interested in this emerging technology, you might be wondering what all the buzz is all about. Before we can tell you why you should care about bitcoins, it’s important to know a little bit about their history.
In order to fully understand why you should care about the history of Bitcoins, it’s important to consider how it began and its progression over time. You’ll see that several factors have shaped Bitcoins into what they are today, so taking a quick look at the past will give you an idea of why you might want to start using them in the future. Let’s dive deeper into it-
Present Scenario of Bitcoins- Points To Note
Bitcoins are digital coins that people send to each other over the internet. Unlike dollars or euros, bitcoins aren’t printed on paper or backed by a government. If you are wondering what Bitcoins are and what you can do with them, this article has covered you.
Instead, they’re made by people – lots of people – running computers worldwide. These computers make calculations all day long, trying to find new bitcoins using special software and hardware setups called mining rigs.
Investing In Bitcoins- What Could Be Its Future?
When it comes to investing in Bitcoin, financial experts have different opinions. The first camp believes Bitcoin has a bright future and is a great investment. Alternatively, many people believe that Bitcoin is nothing but just a bubble that can eventually burst anytime in the near future. There is no way to know for sure what the future holds for Bitcoin, but we can try and understand its past, present, and current situation.
If you are trying to figure out how Bitcoin may progress in the future, you first need to evaluate its past. For example, the US dollar has over 200 years of history behind it, and even then, no one knows what the next 100 years will hold. Likewise, when you invest in Bitcoin, you do not know what the next five or ten years may hold, but as with any other investment, you have a risk/reward profile where an understanding of this risk/reward profile can help guide your decision-making process on whether or not Bitcoins are worth investing into today.
While the future of Bitcoin is still very much up in the air, it’s clear that this digital currency has come a long way since its inception. From its humble beginnings as an underground project to its current status as a mainstream financial tool, Bitcoin has certainly made a name for itself. Today, Bitcoin stands in a strong position in the crypto market. And while there’s no telling what the future holds for this innovative currency, one thing is certain: Bitcoin is here to stay.
Hopefully, this overview attempted to answer those questions by providing a detailed look at Bitcoin’s past, present, and future. Finally, if you are willing to start your investment journey in Bitcoins and other forms of cryptocurrencies, try Bitcoin Prime today and make the most out of your investment.