In the ancient days, there used to be barter systems. Gold and silver also used as the means of exchange in the past. After that, came the currency. And the thing that is making headlines every day is Bitcoin. Also, the popularity increased since its rise in the price which exceeded $ 65,000 in 2021. Such an incident shook the world hard. You can learn about trading bitcoin which aims to eliminate the guesswork from investing. Know The Past, Present & Future Of Bitcoins
Highlights of Bitcoins- Important Points To Take Note of
First of all, we need to know something about crypto-
- When you buy bitcoin or invest in bitcoin, it is just a shift in the ownership.
- When a Bitcoin transaction happens or takes place, it gets recorded safely and securely in the blockchain system.
- The information in the blockchain is always public; so, anyone can see it.
- The blockchain is always collecting data every second as any transaction happens.
- Bitcoin mining needs extensive and high-powered computation which consumes a lot of electricity as well.
- Bitcoin was first invented by someone or some people called Satoshi Nakamoto in 2009.
- The identity of Mr. Nakamoto is still unknown. Therefore, the death of the person does not have any effect on its pricing.
- There will never be more than 21 million of bitcoin ever in the world.
- When it was first originated you could have got around 1309 bitcoins in just 1 USD.
- In 2021, it reached its all-time high value, exceeding USD 65,000 thrice in the year.
History of Bitcoins
In the past, when Bitcoin was first introduced to the financial markets, not much of the population said in its side. Most of them hoped that the currency will be vanished from the market. however, bitcoin took slow but steady pace which has helped it land in such a place right now.
In Greek, crypto stands for hidden. The name is justified because the coin can rightfully refer as a hidden coin as it has no existence in the physical world. Unlike fiat currency, you cannot just hold a crypto or bitcoin in your hands. It does not have its existence in your cloud or computer system as well.
While talking about past incidents, one story needs to be heard of. In 2010, one person name Laszlo Hanyecz paid ten thousand bitcoins for two pizzas that worth USD 40 at that time. It was 22nd May. Since then, the day has been celebrating as the pizza day. Ten thousand dollars are worth something around USD 3.8 million now.
Present Scenario of Bitcoins
The present situation is majorly different than the past assumptions. One country named El Salvador accepted it as a legal tender. Therefore, the popularity has also increased. Many organisations are using it as a payment method. Therefore, you are free to buy any service or product from such platforms who accept this.
Future of Bitcoins-
The future of Bitcoins can never be predicted well as the market of Bitcoins remains highly volatile most of the time. In simple terms, Bitcoin has no stability in terms of price.
Only because of this reason, many financial investors believe Bitcoin is not going to last far. However, the steady pace is continuously making the bitcoin even stronger. Also, more and more organisations are investing in bitcoin every day. More companies are accepting bitcoin payments.
Conclusion
Bitcoin seems to be here for long. However, we may need to wait longer to see what happens with this.
