Bitcoin is the first decentralized cryptocurrency in the world, Bitcoin uses the internet to send money directly from person to person anywhere in the world without having to use a centralized entity.
Bitcoin started in January 2009 by Satoshi Nakamoto, when it was launched it had no value because its creation was never about money, it was about providing the idea of making a transaction without needing a third party, for example a bank, Pay Pal, a transaction that can be completely secure, anonymous, super fast and able to be sent anywhere in the world in real time.
This idea also included benefits such as no qualification needed to open a digital wallet, low transaction rates, no cancellation of transfers and full control of your Bitcoins or total control of your money, Bitcoin is not controlled by any person, government or company, there is no central institution that can give Bitcoin power, but there must be something that empowers it and is of course the power that thousands of people specialized in computers and systems provide security and verify transactions, to this process It has been called mining.
In 2009 there were only a few people participating in the mining, on average every 10 minutes a new block of Bitcoin transactions is mined and the Bitcoins earned are given to all the miners who were in charge of the verification and to solve mathematical problems.
At first for each block mined 50 new Bitcoins were distributed among the miners, after 210,000 blocks mined that took around 4 years the incentive was reduced to 25 Bitcoins for each block mined, after another 210,000 blocks that were finished in July of 2016 the incentive was reduced to 12.5 Bitcoins per block and now will continue in the same way every 4 years for the next 125 years until 2140, by that time there will be 21 million Bitcoins generated and no more will be produced, just as you can see Bitcoin It will always be unique.
And guess what? The idea came true, on May 22, 2010 the first transaction was carried out 10,000 Bitcoins were offered for a pizza, when that happened all the Bitcoins generated previously obtained value, at that time the supply and demand began and more people He started asking about Bitcoin, but the people who owned it realized the value and did not want to sell it.
Remember Bitcoin is similar to gold, at that time people started buying Bitcoins at higher prices, actually it took about a year and a half for Bitcoin to go from being an idea to worth 10 cents per 1 Bitcoin, after that in August 2013 Bitcoin was worth more than $ 105 in January 2015 the average Bitcoin price was $ 225 at the beginning of 2017 the value of Bitcoin has gone from 0.10 cents to an average of $ 580 we are talking about more than 5,800 times the value initial.
5 years ago if you had bought $ 1 of Bitcoin today you would have $ 5,800 if you had bought $ 100 today would have $ 580,000, during the last 5 years Bitcoin has been the largest investment in the world we know.
Now if some people think that those days are over, because they are wrong, here's why, there are some 10,000,000 million people who have a Bitcoin wallet, we are talking about a technology that has the potential to be bigger than the Internet with billions of people who use it.
The internet is used all over the world because now we understand it, 20 years ago it was really very complicated, now there are thousands of companies like Google, YouTube, Facebook and Gmail that make it easier to use, billions have been invested in These companies as well as thousands of people have invested in Bitcoin at this point, 5 or 6 years ago it was very complicated to use Bitcoin, but now hundreds of companies around the world have made it very easy to use, for example: The Stock Exchange New York, BBVA, USAA securities, have invested more than $ 75,000,000 million in Universal Coinbase, Santander, JPmorganChase, Citigroup, invested around $ 50,000,000 dollars in Digital Asset Holdings Financial Services.
Visa, CapitalOne, Nasdaq, CitiVentures, invested around $ 30,000,000 dollars in "Chain" mining infrastructures.
In 2012 all private equity investments directed to Bitcoin and its technology, amounted to more than $ 2,000,000 million, in 2013 more than $ 95,000,000 million, in 2014 more than $ 361,000,000 million dollars, in 2015 and 2016 more than $ 760,000,000 million dollars were made in capital investments, we are talking about more than $ 1.2 trillion dollars in investments in the last 5 years, anyone can use Bitcoin , there are actually millions of people who are using Bitcoin and you can use Bitcoin to buy anything you can imagine.
There are hundreds of thousands of companies that accept Bitcoin, you can pay for plane tickets, hotel rooms, electronics, cars, coffee, meals and anything else you can think of.
Another big market that Bitcoin impacts is the remittances that are constituted as transfers to friends and relatives from state to state and from country to country all over the world, unfortunately Western Union, Money Gram and other companies like these charge from 5% Up to 20% per transaction, on average is around 10% worldwide, that means we are talking about approximately $ 60,000,000 to $ 100,000,000,000 per year.
A typical Bitcoin transaction has an average rate of $ 0.27 cents, with Bitcoin everyone has access to make any transaction without necessary approval, you have control of your own Bitcoins, which means having control of your money.
This is why the Bitcoin revolution is just beginning ...
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Clearly, there has been more acceptance of Bitcoin these days. Read on more about how bitcoin is mined, how its price is determined at https://www.epixelmlmsoftware.com/blog/bitcoin-beginners-guide
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