What are bitcoins? This question can surely come to your mind in the modern days. Well, to answer this question, it has to be said that, bitcoin is one of the most popular cryptocurrencies available in the market. The bitcoin is basically electronically managed and traded. Bitcoin comes with some unique features, which is not available in any other currencies in the world. One of the most key features of the bitcoin is, bitcoin is handled electronically and no countries can directly influence the price of the bitcoin. Along with that, as the time progresses bitcoin is also getting legalized in most of the countries around the world and at the same time, Asian countries are also showing interest as well. Therefore, sooner or later bitcoin can turn out to be a currency which is used throughout the world without any kind of problem.
In order to more about what are bitcoins? It is important for us to know a little bit of history about bitcoins. A brief history should help you to gather proper knowledge on the bitcoins.
What are Bitcoins: A brief history
Bitcoin was introduced in the scene by Satoshi Nakamoto in the year of 2008. At first, there were very few people in the market who actually knew about the Bitcoin. However, as more people started to know about the cryptocurrency the popularity of Bitcoin started to increase. In the midst of 2010, most of the renowned economist around the USA knew about the Bitcoin. Though many economists knew about the Bitcoin, the knowledge was still limited amongst the people and at the same time, bitcoin trading was not so popular in the market. To be precise bitcoin became really popular in the midst of 2012 and many traders around the United States of America started to trade with Bitcoin.
Though bitcoin trading was getting popular, the fluctuating price of bitcoin was pretty discouraging for the many traders. Then at that time, many traders left the bitcoin trading. However, the fluctuating price of the bitcoin attracted some other traders as well. As the traders started to get attracted towards bitcoin trading, more focus on the bitcoin is shifted. With the shifted focus of the different traders all around the world, different countries also started to show interest in the bitcoin as well. Slowly but steadily bitcoin started to get legalized in many countries all around the world. Along with that, many people started to use bitcoins in the online marketing as well. There are some people who are still trying to figure out what are bitcoins? However, it looks like, with the increasing knowledge and popularity, many people will soon be able to figure many facts and features about bitcoins.
The rise of the bitcoins
Though bitcoins were first launched in the market in the year of 2008 but it was not successful from the word go. The main reason behind this was, many people didn’t know what are bitcoins? However things had a little bit progress in the year of 2009. From the year 2009 the process of bitcoin mining begun and many people started to earn bitcoins as well. In the midst of the 2009, the price of one bitcoin was around $1300. Therefore, it can be figured out, at the beginning the price of the bitcoin was pretty decent.
Though the start was pretty decent for the bitcoin but the black days were yet to come in the bitcoin history. In the midst of the year 2010 around 184 billion bitcoins got hacked. Therefore, it was q quite disappointing time for the bitcoin. Along with this incident, many investors lost faith in the bitcoin and they stopped investing in the bitcoin as well. The trading on bitcoin was almost stopped. And the price of the bitcoin was dropped by a very significant margin as well. In the midst of 2010 the price of the bitcoin was around $0.50. Therefore, it can be figured out that, bitcoin suffered a significant loss as well. In the year of 2011 bitcoin were used in order to buy drugs and by that time bitcoins were untraceable as well. Therefore during that time, it was an added advantage of the different drug all around the United States of America.
The dealing with drugs via bitcoin spiked by a significant margin and with that the price of the bitcoin also started to rise from $0.50. In the early 2011 the price of the bitcoin was around $31. The year 2012 was a bit steady for bitcoin. However setbacks again hit the bitcoin in the year of 2013. In the year of 2013, the first reporting of bitcoin theft was made. Around 25,000 BTC were stolen from the wallet of an investor and the price of the bitcoin was around $375,000 in total. Though in the exact year, bitcoin capitalization reached at a significant margin as it hit the $1 bn mark. By that time, people started to know more and they were interested on what are bitcoins? By the year of 2013 bitcoin was legalized in the United States of America and people started to trade with bitcoin. Along with that, people started to buy different things via bitcoin as well.
The interesting thing is, many shops all around the country started to offer many attractive discounts on the purchase by bitcoins. Such offers made bitcoin more popular and many people were attracted towards bitcoin as well. Many people and investors were also interested to know about what are bitcoins? This thing really turned the future of the bitcoin. Many people started to mine bitcoin by the help of computer hardware. The price of the bitcoin even impacted the price of computer hardware as well. The bitcoin mining got popular all around the world and many people started bitcoin mining as well. The popularity of bitcoin mining increased the price of bitcoin and nowadays the price of bitcoin is increasing by leaps and bound. This year alone the price of bitcoin has increased by a 600 percent.
Salient features of bitcoin
If you really want to know what are bitcoins? Then it is very important for you to know the salient features of the bitcoin. There are some features of bitcoin which makes it really unique in many ways from the other currencies available in the market. The main features of bitcoin are mentioned below.
If you are interested in trading with bitcoin then there is one thing you can surely get and that is privacy. In the bitcoin trading, you don’t have to put your personal information in the wallet. However, it is very important for you to know what are bitcoins? Once you are able to know that things will be pretty easy for you.
Though in past there were few issues regarding the security of bitcoin. However, with the advancing time, people started to know what are bitcoins and the security feature of the bitcoins are also improved by a significant margin as well. Nowadays, security is one of the key reasons why people opt for the bitcoin trading.
No controls of any kind of middleman
If you know what are bitcoins, then you should know one of the most important features of the bitcoin is there is no control of any government or any middleman over bitcoin. Therefore, bitcoin trading is less impacted by the government decisions. It makes the bitcoin trading more popular and at the same time, people are interested to know what are bitcoins? Nowadays many people are trying bitcoin casino as well in order to increase their bitcoin. If you are interested in bitcoin gambling then you can definitely try BigBook.ag as it is one of the safest website available on the market.