In this beginners guide to Bitcoin you’re going to learn everything you need to know about one of the hottest assets in the world right now!
Reputable sources have estimated that Bitcoin could hit between $54,000 and $318,000 per bitcoin!
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But before you do anything you’ll want to know a bit more about Bitcoin right?
So let’s get started with this introduction to Bitcoin!
When Did Bitcoin Start?
Bitcoin was introduced in 2009 by Satoshi Nakamoto as a peer-to-peer electronic cash system. It is entirely decentralized, meaning that there is no central authority or servers, it offers lower transaction fees than traditional payment mechanisms.
Nakamoto’s purpose was to Introduce a currency ecosystem that didn’t involve banks, operating instead using a decentralized ledger known as the blockchain, which is a public ledger of all transactions that have taken place over the network.
Nakamoto left bitcoin in around 2010, leaving it in the hands of a few prominent members of the BTC community.
- Launched on 3rd January 2009, bitcoin is the world’s largest cryptocurrency by market capitalization.
- Bitcoin is a digital currency that can be stored in a digital wallet, computer, or smartphone.
- There are no central governing authorities that control the transactions and impose transaction charges.
- Bitcoin, as with any other cryptocurrency, is extremely volatile. The price is speculative, and the market is mostly unregulated.
What Is The History Of Bitcoin?
This history of Bitcoin is one of the key things to understand if you want a full introduction to this Cryptocurrency. The domain name Bitcoin.org was registered on 18th August 2008. Later in the year, a white paper titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’ was published.
The Bitcoin network came into existence on 3rd January 2009, when the first block or the genesis block of bitcoin was mined. The first block that was mined had a reward of 50 BTC. It is widely regarded as the first established cryptocurrency in the world.