In today’s world, who wouldn’t dream of taking it easy and enjoying life while earning millions, even billions, in a few days? Thanks to the mysterious group that created bitcoin, this dream is finally a reality! Don’t hesitate to dive into the world of crypto-currency to quickly amass a large sum of money in a short period of time.
But before you venture in and avoid bad transactions, it would be much better to inform yourself about the subject. So, without further ado, let’s dive into this blog and learn some of the things you ought to know about Bitcoins.
Bitcoin and its history
There are many mysteries surrounding this subject, such as the famous question, “who created bitcoin?”. Currently, some people claim that a certain Satoshi Nakamoto is the real face behind this question. Others say that our Satoshi Nakamoto is just a pseudonym to hide the real creator of bitcoin. Many refer to a founding group rather than a single creator. There are different versions to tell the same story or find new customers. While some of them seem rather far-fetched, others are closer to reality.
It is important to know that bitcoin was not made in a day. In fact, the project began in 1968 with the invention of the Forth programming language by Charles H. More, which everyone recognizes today as the basis of the bitcoin language. It was in the 1990s that the electronic currency, based on cryptographic protocols, was invented by David Chaum under the name DigiCash. The latter went bankrupt and ended in 1998. However, the information we are really sure of is that it appeared on the market in 2009.
The cryptocurrency will come back 9 years later, thanks to the invention of the new 2P2 technology and the intervention of the famous Satoshi Nakamoto group. In August 2008, the domain name bitcoin.org was created, which led to the official announcement of bitcoin two months later. On January 3, 2009, the first block of the Bitcoin blockchain was created. It would be another week, and a few days before the first transaction, 10 BTC, appeared.
The explosion of the Bitcoin price started in 2020. In September, the price of BTC skyrockets to $19,950 despite the Covid-19 financial crisis. From $0.001 in 2009 to around $40,000 in 2021, the price of bitcoin keeps rising, which is a huge publicity boost. There is still a certain limit to the number of Bitcoins that circulate in the world to not overwhelm the market and protect the environment (the greenhouse effect risks), namely 21,000,000 Bitcoins. Today in 2021, we are already at more than 18,000,000 BTC circulating around the world.
How to get started with Bitcoin
To begin with, you should know that Bitcoin is not a game of chance where you have to rely on luck to make a profit. It is not governed by law or the banking authority but only by the blockchain protocol. In fact, it is totally transparent and has no controlling body, but at least it is safe.
You will therefore have to follow certain instructions in order to avoid being scammed or even having your cryptocurrency stolen. Then, you will have to define your BTC wallet, that is, the electronic platform used to store your virtual money. In the most basic of cases, you can simply take your laptop for online purchases or your phone to carry your bitcoins wherever you go.
However, try to find excellent cashiering software to further protect your investment. To buy your bitcoins, you have 3 options. The first is to get them as currency by providing goods or services to a person or company you know. The second is to go directly to an online exchange from your bank account and buy your cryptocurrency there.
The third and final method is to install a bitcoin mining system. Just as it is possible to buy bitcoin, it is also possible to sell it. Many companies accept bitcoin as a currency, so don’t hesitate to trade if that’s the money you want to use.
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