Bitcoin

Milestones In the History of the Bitcoin cryptocurrency

As the 21st century has started people have started using the internet more and more. People have started trusting the internet upto an extent that they are ready to invest in it too.

Although a number of attempts have already been made before the year 2008, none of them succeeded. People tried many times but didn’t make it to the end. For example B-Money and Bit-Gold never made to the market.This was in 2008, when the Bitcoin digital currency was introduced. 

As soon as Bitcoin was launched it started gaining a huge fame and popularity. The following paper will reveal some of the milestones of the Bitcoin digital currency.

The Year 2008 and Mr.Nakamoto, A Mystery:

Back in the year 2008, a paper titled: Bitcoin-Peer to Peer Electronic Cash System was sent to the authorities of the cryptocurrencies discussion. This paper was the first thing that came from the developers of the Bitcoin cryptocurrency. This paper was sent by a team or individual calling themselves as santoshi nakamoto. The most astonishing thing about the publisher is that their identity is still a mystery and they are totally anonymous till date. This paper contains everything about the concept and working of the Bitcoin cryptocurrency network. It was the base of the future cryptocurrency called the Bitcoin digital currency.

2009 and The Launch of the Bitcoin

The amazing cryptocurrency called the Bitcoin cryptocurrency was made available for the public use in the start of the Year 2009. the software of the Bitcoin cryptocurrency was very easy to use and that was a major reason why It gained a lot of popularity among the public in a very short duration of time. 

In the month of January 2009 the Bitcoin cryptocurrency was launched for the first time and in the same month the first transaction around the Bitcoin currency was made successfully. As soon as the Bitcoin cryptocurrency was launched the mining of the Bitcoin started as well . The year 2009 was pretty dope for the development and success of the Bitcoin cryptocurrency.

Year 2010-Bitcoin Worth

In the 2010 debate, going pro currency started gaining more attention. As we mentioned that Bitcoin cryptocurrency was mined in the year 2009. However the first trading at the Bitcoin cryptocurrency was made in 2010 after the Bitcoin cryptocurrency was valued for the very first time. Back then people were not aware of the value and the upcoming future of the Bitcoin cryptocurrency. That’s why they swap the Bitcoin cryptocurrency without knowing the actual future of it.

If they had the Bitcoins right now they could easily make $100000000 out of it pretty easily. Well we all know that this is the part of every product and its journey. 

2011-Rivals

In the year 2011 many other digital currencies started emerging as a competition with the Bitcoin cryptocurrency. The examples include Namecoin, Litecoin etc. Although there are many hundreds of digital currencies that are being circulated in the trading market right now but none of them gain as much popularity as the Bitcoin cryptocurrency. 

2017- The Bitcoins Killing The game

As time was passing by the amount to popularity gained by the Bitcoin cryptocurrency was also increasing. a large number of companies and other organisations started dealing with the Bitcoin cryptocurrencies and started accepting payments in the form of Bitcoin cryptocurrency. With the increasing Fame and popularity the rate and the created value of the Bitcoin cryptocurrency also started to rise. In the year  2017, Bitcoin reached a point that was never seen before in the history of the digital currency. It gained a price of 10,000 US dollars which was a big thing for a currency launched recently.

Although the Bitcoin cryptocurrency was launched by a developer who is still anonymous , irrespective of this fact the Bitcoin cryptocurrency has gained a lot of success among its users and has won their trust. By the end of the year, there were many exchanges that had been launched, and it was one of the most searched topics in the world. In countries like Denmark, there was a lot of competition and traffic in Danish websites about buying, selling and investing in Bitcoin. After December of 2017, Bitcoin had one of the biggest crashes ever seen. It went all the way from nearly $20,000 USD to an average of $6,000 USD per coin.

Year 2020 – A break through

Although the Bitcoin cryptocurrency stays unaffected by all the convention factors that affect the local currency, it still gets affected by them to some extent. As we all know, every year 2020 has been pretty unexpected due to covid-19 pandemic. The finance market of the whole universe has crashed to a great extent but if we see the Bitcoin cryptocurrency we will observe that it has raised its value to a great extent in the year 2020. Bitcoin digital currency has gained record-breaking success in the last year. By the end of the year 2020 Bitcoin was at a price that was never seen before.

Summing Up

Whatever you think or say about the Bitcoin cryptocurrency but you can never deny the popularity and trust it has gained in such a short duration of time. The thing that has benefited the Bitcoin to the currency most is the fact that it was in a totally decentralized manner. The Bitcoin cryptocurrency is not in the control of any Bank or government. It works in a totally independent manner. You can trade as well as invest in the Bitcoin cryptocurrency the following summary simple steps. like everything Bitcoin currency has also its drawbacks but it all depends on the users and his strategy. If you want to play with Bitcoin cryptocurrency you have to be pretty careful so that you can avoid any unexpected unfortunate circumstances.

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