Bitcoin as first cryptocurrency
What is Bitcoin? Who invented Bitcoin? Why raise the price of bitcoin? Why is bitcoin to blockchain related? etc.
Why Bitcoin?
Bitcoin is recognized as an investment and a means of payment
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Bitcoin establishes itself in the financial industry
The wealthy society invests at least 1% of its assets in Bitcoin.
What do I get out of it?
Participation in perhaps the greatest invention of recent years in the financial sector
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Support for the third world
Through Bitcoin a large part of the world's population gets access to finance
Am I not too late?
Bitcoin has far from exhausted its potential
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Forecasts predict massive price increase
According to experts, the price is expected to rise to over $100,000 in a few years!
Bitcoin Chart
Why is bitcoin rising?
The Bitcoin price has been rising steadily since 2009, as there will only be 21 million Bitcoins in total. Supply determines demand, and if there is a limited amount of a commodity, the price will rise if there is demand for the commodity. Bitcoin is comparable to gold in that it is available in limited quantities. Code limited the amount of Bitcoins to just over 21 million.
In the beginning, one got hundreds of Bitcoins for one US dollar. That means that today you would be a multiple millionaire. However, there are also quite a few Bitcoin millionaires who have been Bitcoin mining (producing/calculating Bitcoins) since 2009 and thus have never spent a cent on Bitcoin.
The price of Bitcoin (BTC) is considered by quite a few experts to be higher than it is so far. The all-time high of $66000 is not far from the $100,000 or more that Bitcoin should reach soon.
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Bitcoin ROI since 2009
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Who invented Bitcoin?
In response to the 2009 financial crisis, Bitcoin was first put on the Internet with block chain technology by a pseudonym named Satoshi Nakamoto. Its unclear, if its a person or a group. Surely it was an ingenious system, because to develop such a safe and yet simple system like the Blockchain is great!
Bitcoin is a crypto currency because the block chain is secured with cryptographic one-way functions (hash), making the block chain technology so secure.
Why is bitcon related to blockchain?
The block chain technology is the infrastructure over which Bitcoin runs. The block chain allows you to send your Bitcoins directly (peer to peer) to the receiver. NO middleman stands between your transaction like a bank, or paypal etc.
For this reason, the blockchain is also referred to as a public decentralized database, since all Bitcoin transactions are performed on different computers (nodes), which all synchronously manage the same Bitcoin database. The miners verify the transactions via the Proof of Work consensus and thus the blockchain fair and is designed so that it is not worth cheating.
Is bitcoin safe?
Yes, bitcoin is very safe! The Bitcoinblockchain is installed on thousands of nodes, so you would have to attack more than half of the machines (51% attack) simultaneously and that is impossible with this number of machines (nodes).
In addition, a consensus (proof of work) ensures that energy must be expended to make a transaction and include it in the blockchain. Once the transaction is in the block chain, it can practically not be changed.
When will be the last bitcoin produced (Mining)?
Bitcions are produced all 10minutes from miners. The miners solve a mathematical puzzle and the fastest one who solves the puzzle (finding the correct hash) gets 6.25 Bitcoins as reward at the moment. 21 Mio is the amount how many bitcoins will be produced.
In 2009 there were 50 Bitcoins as a reward, then after about four years 25 Bitcoins, then 12.5 Bitcoins, and so on. This is called Bitcoin Halving. That means every four years the quantity of Bitcoins is halved until in the year 2140 the last Bitcoin is spent as reward. Unitl today, over 17Mio. bitcoins were produced
Since when is bitcoin traded?
On May 22, 2010 Bitcoin was accepted as payment for the first time by a pizzeria. A customer paid 10,000 Bitcoins for a pizza and since that day, this date is also celebrated as Bitcoin Pizzaday. The amount paid back then would be worth several million dollars today, but of course nobody knew that at that time.
Is it still worth investing in Bitcoin?
In my opinion of course Although the price has increased by several thousand % since the beginning, several experts predict a price of over $100,000 per Bitcoin or more!
According to reliable sources, I know that the rich are now buying Bitcoins vigorously and are buying at least invest 1% of their assets in Bitcoin. You don’t get rich overnight, but it is very likely that the price will move up in the coming years.
With Bitcoin and Co. it is completely normal that on a day the price goes around 10% or more upward or downward and therefore one must keep calm and regard it as long-term Investment and perhaps one can pay soon in ever more stores with Bitcoin as with Digitec. I bought my laptop and TV with Bitcoins. Above all, this crypto currency is limited and cannot be controlled by one party and if perhaps our paper money loses value, Bitcoin will be stable and increase in value like gold.
Is bitcoin the only cryptocurrency?
No. There are now thousands of crypto currencies, with Bitcoin being the largest and most expensive crypto currency. Number two is Ethereum (ETH), where the Ethereum blockchain handles transactions faster and where you can create your own tokens (coins running on a foreign blockchain). In addition, DAPPS (Decentralized Autonomous Apps) and Smart Contracts (Self-Fulfilling Autonomous Contracts) can be programmed. Ethereum has brought an entire industry to life as a result.
There are other coins that have other properties and other functions in the blockchain. Which Blockchain now the best is everyone must decide, but Bitcoin is surely the flagship under all Kryptowährungen and with a market share of approximately 60% the usually traded cryptocurrency.
Under “Buy Bitcoin”I introduce you to various platforms where you can buy and trade Bitcoins and other crypto currencies.
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Market dominance of Bitcoin over all crypto currencies
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