What Is Bitcoin – And How To Buy Bitcoin?
What is Bitcoin? – A Bit of History
Bitcoin is a digital currency, which operates free of any central control or the oversight of banks or governments. Bitcoin is what the market describes as a decentralized cryptocurrency. Instead it relies on peer-to-peer software and cryptography. A public ledger records all Bitcoin transactions and copies are held on servers around the world. Various miners across the globe are participating in the network / ledger, and thereby help with approving transactions.
Blockchain is a genius system, which is recording information in a very smart way, that makes it difficult to alter or hack.
Each and every block in the blockchain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is then added to every participant’s ledger.
Bitcoin was created in 2008/2009 and has been moving forward ever since.
Bitcoin was seen the first time on Coinmarketcap in 2013, and back then the price was about 105 USD per Bitcoin.
– But this was not the very first step in the transactions / tender category, because in 2011, Bitcoin was listed against the USD for the first time.
In February of 2011, BTC reached $1.00, achieving parity with the U.S. dollar for the first time.
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Bitcoin – All Time High.
Bitcoin, the world’s first and most-popular cryptocurrency, reached a new all-time high over $68,000 on November 10 2021. Bitcoin’s previous record high came in October 2021, when it nearly hit $67,000.
So Bitcoin has actually been over $68,000 in value.
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Graph from the Medium Article, showing progress of Bitcoin price vs. USD. Please be aware that Bitblinx disclaims, that investing in cryptocurrencies are very risky in general.
Most cryptocurrencies are highly volatile.
Many crypto entusiasts believe that Bitcoin will be legal tender in many countries, just like we see Bitcoin today – Being legal tender in El Salvador.
Link to article
https://medium.com/coinmonks/
We wish Bitcoin all the best of luck, in their current and future adoption.
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