# A very short history of Bitcoin And Crypto Currency everyone should read (Part-2)

2011 – Rival cryptographic forms of money rise

As Bitcoin increments in ubiquity and decentralized and scrambled monetary forms get on, the primary elective digital currencies show up. These are here and there known as alt coin and by and large endeavor to enhance the first Bitcoin configuration by offering more noteworthy speed, namelessness or some other favorable position. Among the first to develop were Namecoin and Lite coin. Right now there are more than 1,000 cryptographic forms of money available for use with new ones as often as possible showing up.

2013 – Bitcoin value crashes.

Not long after the cost of one Bitcoin comes to $1,000 out of the blue, the cost rapidly starts to decay. Numerous who contributed cash now will have endured misfortunes as the value dove to around $300 – it would be over two years previously it came to $1,000 once more.

2014 – Scams and burglary

Maybe obviously for a money planned in view of namelessness and absence of control, Bitcoin has turned out to be an appealing and lucrative focus for culprits. In January 2014, the world's biggest Bitcoin trade Mt.Gox went disconnected, and the proprietors of 850,000Bitcoins never observed them again. Examinations are as yet endeavoring to get to the base of precisely what happened yet whatever the story, somebody deceptively got their hands on a pull which at the time was esteemed at $450 million dollars. At the present costs, those missing coins would be worth $4.4 billion.