Challenges on bitcoin and other cryptocurrencies organized by the Steemit team are always very educating. Thank you for yet another.
The fastest trend ever witnessed
There has never been anything like it. It is no longer news that bitcoin has reach the whole world, bitcoin is heard and traded in almost 60% of work population. Isn't it outstanding for a currency that lasted for just a decade and 2(12 years).
Just in, PayPal plans to expand the service to its peer-to-peer payment app Venmo and some other countries in the first half of 2021. The ability to make payments with cryptocurrencies will be available from early next year, the company said.
Bitcoin is the future of money and will quitely phase out our convention currencies.
A sudden spike in investment
Bitcoin reduces cost of transactions.
Standard wire transfers and foreign purchases typically involve fees and exchange costs. Since bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low.
Bitcoin is always accessible .
Because users are able to send and receive bitcoins with only a smartphone or computer, bitcoin is theoretically available to populations of users without access to traditional banking systems, credit cards and other methods of payment.
Peer-to-Peer capabilities
The bitcoin payment system is purely peer-to-peer, meaning that users are able to send and receive payments to or from anyone on the network around the world without requiring approval from any external source or authority.
The primary draw of bitcoin is autonomy. Digital currencies allow users more autonomy over their own money than fiat currencies do, at least in theory. Users are able to control how they spend their money without dealing with an intermediary authority like a bank or government.
The ice is broken
It all started in 2008, bitcoin was birth but an autonomous body. Though names could be trace but we are really certain who the founder is. The first 10,000 was used to purchase 2 piece of pizza. Few years after that, bitcoin gain popularity and refused to be beaten. System protection are provided to ensure productivity.
Most government agencies are still in talks to legalised the use of bitcoin and other currency for its trading. There is still more to be told concerning this mysterious coin.
Happy anniversary
The price of Bitcoin(BTC) is 13890 USD
Thank you