Topic: Bitcoin and its History (Read 231 times)

Bitcoin is a new currency that an anonymous person using the pseudonym Satoshi Nakamoto developed in 2009. Without middle men, transactions are made, meaning, no banks! Bitcoin can be used on Expedia to book hotels, on Overstock to search for furniture and purchase Xbox games. But by trading it, much of the buzz is about becoming wealthy. In 2017, the bitcoin price skyrocketed into the thousands.

Bitcoins can be used to anonymously purchase merchandise. Moreover, since bitcoins are not tied to any country or subject to taxation, foreign transfers are simple and cheap. They could be preferred by small companies because there are no credit card fees. Many people just buy Bitcoins as a currency, hoping they'll go up in value.

Purchase on an Exchange

Many markets called "bitcoin exchanges" allow individuals to use various currencies to purchase or sell bitcoins. Along with Bitstamp and Bitfinex, Coinbase is a leading exchange. But safety may be a concern: tens of millions of dollars worth of Bitcoins were stolen from Bitfinex when it was hacked in 2016.

Bitcoins are kept in a "digital wallet," which either lives in the cloud or on the device of a user. The wallet is a form of virtual bank account that enables users to send or receive Bitcoins, pay for products, or save money. Bitcoin wallets are not insured by the FDIC, unlike bank accounts.

There are many ways to understand bitcoin's history, perhaps, there are many post here that states about the timeline of what happened to bitcoin from the day of its lunch up to its current state now. You may want to visit this post to see.

In that way, you could understand where bitcoin is heading in the future as you understand the history of it. In addition, you can also visit here: Medium Article to know more about Bitcoin's history.

I think you tell us the history of bitcoin. Because many of the people do not know the exact history of Bitcoin & cannot understand how to do in this site. So everyone should know the history of bitcoin.  

It is true that it is too early to think that bitcoin will prevail soon over fiat.

But as we see a huge development on its price then it is really possible than bitcoin will reach the mainstream and become the best asset in the market.

Bitcoin is still young but it already reached its ATH and helped a lot of people, thank you for Satoshi on making an asset that although volatile, it helped us to see that investment on cryptocurrency is worth it.

Historical price of all time high
Bitcoin obituaries
The definitive history of bitcoin
Nakamoto Institute

^ Bitcoin history is the foundation that stabilizes its current position and the core, established its superiority over the other altcoins. However, history remains in the past, though it is always fair to look back sometimes and give recognition to it will probably what matters most is today that whatever action or movement we will do may bear a huge impact on where and what bitcoin will be in the future. For tomorrow still lies in the hand of those who live in the present and the next generation will harvest the fruit of whatever we planted this day

Bitcoin is indeed a boon for many and if people can read through its history they would understand it's not a Ponzi or bubble as claimed by FUDs but at the same time we need to understand the acceptance of Bitcoin across various sectors because of its volatility, this is where stable crypto currencies like Tether are more preferred because either Bitcoin will make end users more rochers than the value of Bitcoin they got in exchange for product and services or else make them more poor.

Since Bitcoin is widely accepted as you may find traders across the world for bitcoin it would be handy for money transfer but bit difficult for daily usage.

That's right, we need more time for Bitcoin to show its potential. But I just think it should fulfill its role, which is to help its holders reduce their risk of inflation and not worry about its value in the long term.

As for being a common currency in payments it shouldn't be. Because we still see a huge fluctuation in Bitcoin's value, and it would be very inconvenient to use it to pay for any product. Think about the fact that before you leave the house, the Bitcoin in your wallet is worth $ 100 but upon arrival at the store, the value of the Bitcoins in your wallet drops to $ 90 because of its volatility . Nothing could be worse than that.

History of Bitcoin on Wikipedia is patchy at best ...


"Bitcoin value history (comparison to US$)

Jan 2009 – Mar 2010

No exchanges or market, users were mainly cryptography fans who were sending bitcoins for hobby purposes representing low or no value."
- https://en.wikipedia.org/wiki/History_of_bitcoin

...

Bitcoin - The First Exchanges ...
- https://threadreaderapp.com/thread/1222242972827377665.html

"Bitcoin - The First Exchanges

For a #Faketoshi debunk earlier I wanted to know all the Bitcoin exchanges in 2009-2010. So I turned to BitcoinWiki, Wikipedia, and more. Turns out, they are shockingly incomplete or straightforward presenting misinformation.

1/11"
- https://twitter.com/MyLegacyKit/status/1222242972827377665

 

check this out bitcoin history in headlines

History will become only history and lesson for others. However bitcoin become a trend and pioneer for decentralized digital asset. Before bitcoin became famous like today there are also some digital asset but can not survive until now

Bitcoin will continue to evolve as technology progresses, because there is still much that needs to be done if bitcoin is to continue to grow. However, I have faith that everyone and the existing rules in the government will be able to provide opportunities to accept bitcoin as an alternative digital payment transaction, because it will be more efficient and easier for everyone to reach.

I thought you would tell us history. Maybe many people don't think about the history of Bitcoin. Most of them make predictions for the future of bitcoin. Maybe this article is suitable for beginners like me as a learning. Basically, many of them think that using history is only to connect the effects that will occur.

The history of bitcoin development is interesting, but I don't think we have gone far enough to draw any conclusions yet.

Insightful blog for Bitcoin, we can get the overview knowledge of history of bitcoin.
The world is becoming ever more contingent on the internet. So it’s no surprise that Bitcoin, a globally secured online version of cash has claimed the interest of investors, but not many shops accept Bitcoin yet and some countries have banned it altogether.

Bitcoin is a valuable crypto coin because people are ready to exchange them for real goods and services, it can be bought by using both fiat and altcoins, or can also be generated by using a computer which is called mining.