If you spent 2017 not caring much about Bitcoin, then you need to upgrade your knowledge now. With the speed with which the world is moving towards the digital currency trend, chances are you will find yourself out of race. So, let’s dig a little deeper into Bitcoin and try to explain to you this incredible saga of cryptocurrency market.
Please be warned that the investing your money in cryptocoins is risky as the market is highly unregulated and unstable. Anyone considering to invest money should be prepared to incur loses.
A sneak peek into history
Bitcoin gets the credit for being the first ever recognized cryptocurrency, which is a digital asset that can be legally exchanged just like currency. Although other versions of cryptocurrency have been launched before, none of them were available to the public before Bitcoin arrived in the scene in 2009.
The real identification of the person or group that developed the Bitcoin has still not been disclosed. It is only known that the developer is Satoshi Nakamoto whose main objective behind the development of this new type of currency was to bring about a ‘new e-cash system’ that is decentralized without any central authority or server.
In 2010 a person used Bitcoins to purchase two pizzas for the first time ever. If he had held on to those currencies, they would be worth over a hundred million dollars today. Nakamoto is believed to have disclosed the source code and domains to the Bitcoin community, and no one has heard from his since then.