Over the past few years, Bitcoin (BTC) has shown great potential, especially in the gaming industry. As a matter of fact, a lot of companies, online merchants and casino sites are accepting Bitcoin and other cryptocurrencies as a form of payment. What’s interesting is that even if it is highly volatile, its value is continuously increasing and a lot of people are investing in it. Believe it or not, there are debates whether you should invest in gold or Bitcoin.
Because of its increasing popularity, there are also a lot of people who are wondering how it was invented and how it works. Since its release in the market, nobody knows Satoshi Nakamoto is, the pseudonymous developer of BTC. There are also a lot of rumours saying that a group of people created the first crypto. A lot of investigations were made but the real developer of BTC still remains a mystery.
Using Bitcoin is similar to using a credit or debit card. What makes it different is that you do not need to use a card, all you need is an electronic, hot, or cold wallet to store your BTC. A hot wallet is connected to the internet while the latter is not. You can use these to store your digital assets before you use them on various things, like playing on a bitcoin casino.
The Beginning
Satoshi Nakamoto developed the whole concept and system of Bitcoin in 2007 and released its white paper the following year. What’s interesting is that its white paper includes some of the ways to prevent forging and other fraudulent activities. It was also immediately registered on SourceForge.net after it was launched. It is basically a community for distribution and software development.
The Genesis Block
In 2009, the first block on Bitcoin’s blockchain called Genesis block was made and became the foundation of all blocks. Soon after, Bitcoin version 0.1 was launched through Microsoft’s Visual studio.
A block is basically where each transaction made using Bitcoin is permanently recorded. It is also similar to a ledger. If a block is already filled with the required number of transactions, you are redirected to another block. It also functions as a link to other transactions recorded. This is where the blockchain comes in handy.
The blockchain is basically the compilation of public ledgers or blocks. It records all of the Bitcoin transactions but your personal information is hidden and encrypted. It is also impossible for anyone to hack the blockchain or any block because it is made up of a complex series of letters and numbers.
The First Bitcoin Transaction
In 2010, the Bitcoin Market was finally launched with Bitcoin as its native currency. What’s interesting is that the first real-world transaction using BTC was for two boxes of pizza. Laszlo Hanyecz, a programmer from Florida even offered to pay 10,000 BTC. BTC was worth less than a penny back then.
The Great Bubble
2011 is a challenging year for Bitcoin because it experienced frequent value fluctuations. This movement in BTC’s value is called the Great Bubble. However, it was also the year wherein Bitcoin is slowly accepted in the market. As a matter of fact, an Australian member of a Bitcoin forum bought a 1984 Celica Supra for 3,000 BTC. It was also regarded as the first vehicle bought using BTC.
The use of Bitcoin casino was recognized by the community. In fact, there are a lot of sites that are slowly transitioning to accept Bitcoin as a new form of payment method.
The following year, there is an FBI report saying that Bitcoin was used for illegal transactions. The US Securities and Exchange Commission made an investigation on Bitcoin Savings and Trust for allegedly running a Ponzi Scheme.
Note: It is basically a kind of fraudulent scam wherein you are offered very high returns over a short period. After you invest, the returns are divided and little to none will be credited to you.
The Continous Popularity
In 2013, the first Bitcoin ATM was launched in San Diego, California. Since then, the presence of BTC in the market is obviously felt. As a matter of fact, the German Federal Ministry of France even regarded it as a form of private money.
Months later, the largest funding of Bitcoin was led by the Union Square Venture with a total amount of $5 million using Coinbase. It also allowed users to trade BTC into other currencies.
One of the biggest movements in the crypto market is when the University of Nicosia in Cyprus accepted BTC as a new method of payment. It also became the first university to accept crypto. The most interesting is that Richard Branson’s Virgin Galactic also accepts Bitcoin for space travel. Well, there is absolutely no excuse for you not to visit Mars!
Further Investigation
Even after years have passed by, there are still a lot of people who are curious about the identity of Satoshi Nakamoto. During the investigation, there are pieces of evidence pointing to Craig Steven Wright, an Australian businessman and computer scientist. Even though he already claimed that he is the real Satoshi Nakamoto, investigation and trial is still ongoing.
On the other hand, there are some who believe that there are four companies behind Satoshi Nakamoto. These companies are:
- Samsung
- Toshiba
- Nakamichi
- Motorola
Reasons to Invest
Ever since Bitcoin was released in the market, a lot of other cryptocurrencies have also been introduced. Some of these are Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). In fact, cryptocurrencies that are not Bitcoin are called alternative coins or altcoins. What’s impressive about Bitcoin is that it remains at the top position.
Believe it or not, BTC has dominated more than 40% of the crypto market and has the highest market capitalization. Here are some of the reasons why you should invest in Bitcoin:
Secure Transactions
When it comes to Bitcoin transactions you won’t need to provide any personal information such as name, home address, or any banking details. This is because you just need to scan a QR code or provide your e-wallet or Bitcoin address.
Bitcoin is also decentralized. This simply means that any banking institution or central authority has no control over any of your transactions.
Fast Deposit and Withdrawals
One of the main reasons why a lot of people prefer using Bitcoin is that you can immediately send and receive funds immediately. It will only take a couple of minutes unlike in bank transactions wherein it might take three to five business days.
Global Currency
As the biggest cryptocurrency in the market, it is considered a global currency. This is because you can buy anything unlike when using traditional currency wherein you need to inform your bank to use it overseas.
Cheaper Transaction Fees
You do not need to pay additional transaction fees because there are no third-parties involved. Some e-wallets will require you to pay a transaction fee but it won’t really hurt your wallet. There are also some instances wherein you do not need to pay any service fee.
Can’t be Banned
There is no universal law that can restrict the use of Bitcoin. Even the most powerful leader in the world can’t do anything about it. It is also accessible anytime and anywhere. You just need a stable internet connection to complete a transaction.
Increasing Value
Even though it is completely volatile, its value is continuously increasing and consistently makes a profit even if you are sleeping or having a fun time in the Bahamas. This is what makes BTC attractive to most investors. It is both a commodity and a currency that is why you will definitely earn profit one way or another as long as you know how to make the most out of it.
Compared to other cryptocurrencies, there are only a total of 21 million Bitcoins. This is why it is the most expensive coin in the market. Less supply and high demand simply mean that its value will also increase. So, better invest in Bitcoin rather than wait for the next few years!
Safety Tips
Although it guarantees secure transactions, you still need to be careful and vigilant with every transaction. Even if you trust your best friend or mom, it is not recommended to share your password with anyone. Think of it as the biggest secret of your life.
If you are having difficulties remembering your password, it is best to use a password manager. It simply helps you to generate and retrieve passwords. Always keep in mind not to share your Bitcoin backup recovery seed.
Planning to invest a huge amount of money in Bitcoin? You should probably use a separate email address and avoid linking it to your social media accounts. This is to make sure that no hacker or malware can penetrate your e-wallet.
Nevertheless, you will never go wrong with investing, mining, and using Bitcoin. You can even place your bets on top bitcoin casino sites.
Start trading Bitcoin Gold with Direct Tradein A lot of newbies are new to trading and don’t know how to get started with Bitcoin Gold trading.
But DTI has the best copy trading services that you can choose to help you trade Bitcoin Gold.
It is known that copy trading is something that a lot of traders are getting started with.
Be it in any kind of crypto trading, the service that we are acquainted with, i.e.
copy trading can be both time saving and highly profitable.
So, don’t you wait and get started with copy trading, a service that is being provided free of cost at our firm, Direct Tradein.
One of the wisest decisions you could make with your budget is to spend it on what could potentially give you back more money.
One of the most popular investments in recent years is cryptocurrency or crypto for short.What is crypto and how do you earn from being part of its ecosystem?
Please take note that this is just a simplified introduction to all crypto-related topics.
The network shares a copy of a ledger to every node managed by an individual called a miner.
Despite this name, many of them don’t plan on competing with the one known as the most successful crypto of all time.
Spreading your funds onto different investments can help you continuously gain profit instead of enduring a short time when values drop.
The pair of BTC/USD broke the $4,400 and $4,700 levels of resistance or conflict to start a solid rising move.
There was a close resistance over the $4,200 and the hundred-day moving average.
The bulls pushed the price over the 50% Fib retracement level of the previous major failure from the $6,560 high to $3,115 low.
Now it is trading fit above 76.4% Fib retracement level of the main decline from the high to low $6,562-$3,115.
These are positive signs, proposing more gains above the $5,900 level.
So, there are chances of a strong bearish reaction from $6,100, $6,500 or $6,800 in the future upcoming days.
Baazex is a global, award winning, online forex broker providing Professional trading facilities in MT5 leading with CFD’s, Stocks and spot metals.
Whatever he touches turns into gold.
As making predictions about long term investments are comparatively more comfortable than making predictions in short-term investment.
Some More Experts’ Stock Trading TipsStock Trading Tips 1: Manage the risks through focusInvesting is right when the right amount of focus is laid on managing probable or threatening risks that can siphon off profits.
Stock Trading Tips 4: Think for Longer-Term It isn’t easy to comprehend, consider and foresee the entirety of the powers that influence markets to move by taking small steps.
If you need to find out about investments, the ideal way is to discover a coach that can show you what occurs.Stock Trading Tips 6: Be Patient by David BakkeShow restraint.
Take a gander at a bigger-term execution of a specific investment (ranging between 5 to 10 years) as opposed to the short-term implementation.Stock Trading Tips 7: Remember to Roll Over by Jon Stein.While you’re at business, the business frequently gives administrative charges identified with support and unprecedented keeping of the four hundred and one thousand plan.
You have to do your own part of analysis before considering these countries as a location for your crypto exchange operations.
Last year, the biggest crypto exchange Binance had relocated to this country.
The US government has been on the mixed state towards the cryptocurrency since 2013, then it proposed some positive signs on the development of cryptocurrency.
It stated bitcoins not as the legal currency but can be used as a money value business and it can be approved as the property.
The US millennials are very fond of this currency and continue to invest in various formats of business.
It mainly focuses on people’s security so it had officially regulated 30+ crypto exchanges and 200+ companies had already registered for a license to operate bitcoin/cryptocurrency exchanges.
