A brief history of Bitcoin

Bitcoin is the world’s leading cryptocurrency. It is a peer-to-peer currency and transaction system based on a decentralized public library based on consensus called a blockchain that records all transactions.

Now bitcoin was predicted in 2008 by Satoshi Nakamoto, but it was the result of decades of research in cryptography and the blockchain, and not the work of a single boy. Having a decentralized unlimited currency based on the blockchain was a utopian dream for cryptographers and free trade advocates. Their dream is the reality that bitcoin and other altcoins around the world are growing in popularity.

Now, cryptocurrency was first expanded through a consensus-based blockchain in 2009 and traded for the first time in the same year. In July 2010, the price of bitcoin was only 8 cents and the number of miners and nodes was relatively lower right now compared to tens of thousands of people.

Within a year, the new alternative currency had risen to $ 1 and was becoming an interesting option for the future. Mining was pretty easy and people made money earning trade and in some cases even paying for it.

Within six months, the currency had doubled again to $ 2. Although the price of Bitcoin is not stable at a certain price, it has been showing this pattern of crazy growth for a long time. In July 2011, at one point, the coin hit bonnets and hit a record $ 31, but the market soon realized that it was overvalued compared to the gains made on the ground and headed back to $ 2.

In December 2012 it rose to $ 13 healthy, but soon enough, prices would explode. In the four months leading up to April 2013, the price rose dramatically to $ 266. It was later directed at $ 100 dollars, but this astronomical rise in prices raised the star for the first time and people started discussing a real scenario with Bitcoin.

It was at that time that I met the new currency. I had my doubts, but as I read more about it, it became increasingly clear that the currency was the future because it didn’t have to manipulate or impose on anyone. Everything had to be done in full agreement and that was so powerful and free.

So 2013 was a year of progress in making money. Large companies began to favor the acceptance of bitcoin and blockchain became a popular topic for computer programs. Many people then thought that bitcoin had fulfilled its purpose and would now be consolidated.

But, as the currency became even more popular, bitcoin ATMs were established around the world and other competitors began to flex their muscles at different angles of the market. Ethereum developed the first programmable blockchain and Litecoin and Ripple introduced themselves as a cheaper and faster alternative to bitcoin.

The $ 1,000 magic figure was first broken in January 2017 and has quadrupled since then to September. It is a remarkable achievement that he had only seven cents for a coin that cost only 8 cents.

Bitcoin also survived a hard fork on August 1, 2017, and since then the fork has risen by almost 70% while bitcoin money has also been successful. All this is due to the attractiveness of the coin and star block chain technology behind it.

Conventional economics say that a bubble and the whole world of cryptography would fall apart, is not the case. There is no such bubble, in fact it is something that can be seen to have eaten the shares of trusted currency and money transaction corporations.

The future is very clear for bitcoin and it is never too late to invest, both in the short and long term.