From the Beginning to the Present: A Brief History of Bitcoin

Most people have heard of Bitcoin so far, probably because it reached the mainstream media two years ago. Since then, Bitcoin has been a very frequently discussed topic around the world, especially in online conversations where those who are willing to learn more about cryptocurrencies and the crypto scene appear.

Who is the founder?

Bitcoin began its journey more than a decade ago, in October 2008, when its creator Satoshi Nakamoto published the manifesto “Bitcoin: A Peer-To-Peer Electronic Cash System”. In that work, Nakamoto, whose identity remains a mystery to this day, sets out plans for how Bitcoin’s blockchain network(a chain of blocks as digital information) will function, and that moment is practically the very beginning of a climb all the way to the top.

First Bitcoin payment

In January of the following year, Nakamoto translates what he promised in the manifesto. He did this by excavating/mining the first block(which means that he mathematically processed the data from the first block in a chain array of blocks, ie blockchain), which became known as the genesis block. Only a year later, in May 2009, Bitcoin network user Laslo Hanjec paid 10,000 BTC(Bitcoin, digital coins) for two drinks, which went down in history as the first purchase made with a script currency.

The emergence of other cryptocurrencies

In the period between 2011 and 2013, the Bitcoin network is growing more and more, and at one point its value is equal to the US dollar. This period also represents the time when the first cryptocurrency rivals, Litecoin and Ripple, appeared, which were weak competitors.

Somewhere around 10 digital currencies can soon be found on the scene, and that number has multiplied hundreds of times since then. However, Bitcoin still remains the dominant cryptocurrency, which is reflected in the fact that one lesser-known “wallet” for cryptocurrencies is used by as many as two million people in at least 40 countries around the world.

The further path of Bitcoin

In 2014, the value of Bitcoin dropped dramatically – by over 50%. This was one of the biggest blows to the young cryptocurrency market and crypto scene and it took about two years for the price to recover. The decline in value was largely due to the enormous theft-hacking of cryptocurrency exchange offices, and such attacks still pose a great threat to many of them.

Bitcoin also has competition

Since 2016, work began on the network of Ethereum, the main rival of Bitcoin, which is responsible for the invention of the so-called “smart contracts“. Also, we experienced 2017 when the spotlights of big media houses lit up the crypto scene thanks to the rise in the value of Bitcoin, where at one point it was sold for about $20,000, and along the way probably over 6000, 7000 digital currencies were created(no one knows the exact number, many of them are inactive projects).

Institutions towards Bitcoin

Bitcoin and the blockchain technology behind it have also managed to leave an impression on other areas, where many industries and business models now recognize the benefits that this technology brings.

Bitcoin and blockchain gambling are developing rapidly, becoming more popular and managing to provide advantages that other payment methods, systems and platforms of different characters, value transfers and information simply cannot.

Also, there has been some progress in the banking and finance sector, as P2P(peer to peer) networks for loans have emerged, as well as real solutions to some of the banking problems that are also attracting more and more interest. Bitcoin started its adventure a little over a decade ago, but just have started.

How to Convert Cash into Bitcoin

Nowadays, as our world is becoming more digital than ever, digital currencies become part of the new norm. Digital currencies are made safe and secured using cryptography, a process of using series of letters and numbers to create a unique encryption algorithm.

This is how the commonly heard term “cryptocurrency” came to be. There are many cryptocurrencies available in the market today. The first cryptocurrency created us Bitcoin, which ushered the widespread success of digital currencies observed in the recent years. It also remains the largest digital currency available in the market.

Bitcoin is purely in the digital or virtual form, which means that it does not exist as the printed paper currency or coins as fiat currency does. It is also not issued by a centralized authority or controlled by the government or by anyone.

Rather, it operates through the technology known as blockchain, which uses a secured public database to store, for instance, the time and amount spent of your online transaction and verifies these transactions through a network of computers. In the words of its creator, Satoshi Nakamoto, Bitcoin is “a new electronic cash system that’s fully peer-to-peer, with no trusted third party.”

How then, does one convert his cash into Bitcoin and start using and investing in the new norm of digital currencies? Converting your cash into Bitcoin is equivalent to buying Bitcoin and the following are steps that may be helpful to you.

Steps to buy some Bitcoin

First, go to Buy Bitcoin Finder site. This site will help you find the sites where you can buy Bitcoin, depending on your location, so you can conveniently buy Bitcoin anywhere you are in the world.

At the site’s homepage, choose your location. The currently available options are: Australia, Cameroon, Canada, Cayman Islands, France, Germany, Hong Kong, India, Ireland, Israel, Lebanon, Malta, New Zealand, Nigeria, Singapore, South Africa, Sweden, Switzerland, United Kingdom, United States, and Vietnam.

Upon selecting your location, you will see the profiles of various sites through which you can buy Bitcoin. Each profile contains the site’s description, overall rating, the pros and cons, payment methods available, rating based on ease of use, privacy, fees, and reputation.

Once you have selected your preferred site, click the “Buy Bitcoin” button. This will lead you to the page of your selected site. These sites will require you to create your own account.

Creating account in these sites are free and very easy to do, you just have to provide the necessary details and verify your account. Now, you will have your own e-wallet which you can start funding in order to buy Bitcoins. Typically, funding your e-wallet can be done using bank transfers, bank wires, debit cards, credit cards, and cash through authorized funding stores and machines.

Truly, turning your cash into Bitcoins is very easy to do during this digital age as every step can be done online. Ultimately, remember that the value of your converted Bitcoins will also depend on the value of the currency of your cash and various transaction fees that apply.

What Is Bitcoin BlockChain?

Blockchain has only existed for ten years and has started to expand. You can do so much with it that most people don’t really know how to put it in simple words.

Blockchain makes commerce better and reliable. Depending on your goals, you can give them one application or another. One of them turns out to be Bitcoin blockchain, the coin that’s changing the crypto world.

Although Bitcoin wouldn’t exist without Bitcoin, most people never hear it unless they research. They hear it on the news and online media, and how bitcoin is going off the charts.

But Bitcoin isn’t a trading trend. It bases on real advancements with true market value. If we know how blockchain works, it can help us understand what Bitcoin how it will do in the future. Because blockchain is here to stay.

Why Is Blockchain Valuable?

International commerce would be inefficient without institutions. Without banks, there would be a lot of friction with the transfer. Why should we trust each other?

Instead, we rely on an institution to make secure transfers. It adds other privileges, such as buyer-seller protection, money lending, and interest.

But you still need to trust your bank and pay fees for their brokerage service.

Blockchain creates secure transactions, so we won’t need anybody in the middle to monitor. Apart from making transfer cheaper, it prevents banking and accounting fraud.

What Is A Bitcoin BlockChain

1. You buy or sell something online.

2. A computer network verifies it. Each transaction is sequential and comes with data to identify the previous transaction. If they don’t match, they cancel the transfer.

3. Block-chaining. A transaction block has three parts: the previous block signature, your transaction data, and your one-time signature. If the last-block signature matches, they approve it and chain your transaction block.

Mind that the verification steps become more secure as more people use blockchain. For further security, each block has 10-30 minutes to verify before it cancels.

A Blockchain transaction can take ten to thirty minutes to complete. But once it does, nothing will undo it.

What BlockChain Has To Do With Bitcoin

With Blockchain, buyers and sellers can trade with confidence. Because of how it’s built, you only need the block identity.

Blockchain is public, but could be anonymous? That’s what makes a bitcoin blockchain different.

Since it’s designed to be unhackable, there’s no harm in making transactions untraceable.

Bitcoin encrypts the data to protect it, but it’s relative to the number of validations you get. Does it matter if you get ten checks, six, three…zero?

“Imagine you want to buy Bitcoin for $3000 cash with a peer. How do you coordinate to protect the payment?

The trader will send $3000 in BTC to your crypto-wallet, and computers start to verify it:

  • 0 checks. No security unless you trust the person.
  • 3 checks. Verified for most cases (+75%)
  • 6 checks. Highly secure (+90%)
  • Up to 30 checks. Maximum (~99%)

The more validations, the safer. After six, you can pay the other person.”

Blockchain has many applications. What we see with Bitcoin today is a demonstration of how powerful it can be — which only leaves us wondering what will be the next big thing.

How Much Is The Bitcoin Worth?

On February 12th, Bitcoin is worth $10,300. It’s the second-highest value reached in the last twelve months.

Of course, the value will keep changing. For investors, one number isn’t practical enough to make decisions. Anytime soon, the biggest cryptocurrency could either crash or surge.

Bitcoin may have crossed five figures today. The offer and demand have set this price. However, that doesn’t show the actual value of the currency.

How much is Bitcoin worth as a whole? What explains this consistent value increase? Have we reached its real price, or it’s inflated? Is it a bubble?

How Much Is Bitcoin Worth?

It doesn’t matter how prices change. The market changes are only activity trying to “perceive” how much Bitcoin is worth. Most of the time, it will either be underpriced or inflated. It’s the investor’s psychology.

But the perception has nothing to do with reality. Once you know the real value of Bitcoin, you can predict how much it will grow and prepare accordingly.

What makes something “valuable”? Why does Bitcoin even exist? And why is it different from other altcoins?

Why Bitcoin Is Worth Over $10K Today

For years, we’ve heard stories of successful investors who got the right timing. The problem is, you lose more often than you win.

But do we need to predict the market to make profits?

You’re in luck. Passive investors make the most with Bitcoin. You don’t need to watch the news every day, study graphs, and think fifty steps ahead of everyone else. All you need to do is understanding what moves the needle.

Bitcoin has grown since 2011 because it’s valuable and nothing else:

-Protection against inflation

-Exchange-rate risk protection

-Ease of use

Not only it solves problems, but it’s also different from other altcoins. Bitcoin has expanded exponentially as technology made transactions more reliable.

Because of it, Bitcoin is the less volatile crypto-currency in the market. Although new coins come up every day, not many have a decade of history. From 2011 to 2020, we’ve already seen most of the Bitcoin price patterns, so we know better what to expect.

Bitcoin Price VS Value

When it comes to value, Bitcoin has gone up consistently. The biggest price changes happened because of market expansion.

If you see a steep price increase, it could mean many people joined the market recently. After they heard of this crypto-world, they bought some bitcoins and increased the demand.

But what if the price goes down very quickly? Remember, people want to buy low and sell high, also to stay in the market as little time as possible. After all, you’re risking your money.

If the majority bought when the price was low, they would sell right when Bitcoin surges. It’s ironic how the crypto volatility makes investors impatient, causing spikes like in 2018.

Overall, Bitcoin has a splendid future. There are many reasons why it can still go in value: security, government regulations, and popularity.

No matter how prices change, you can make money if you know how to approach this market.

You should diversify your investments, so you capture more opportunities while reducing risk. Depending on your personality and goals, you can make your asset allocation more aggressive or defensive.

For bigger amounts, always work with a professional. The right investor will guide you to make better decisions.

The Best Bitcoin Games

Bitcoin games involve everything from the casual games to casino favorites. They are the games similar to those in the standard casinos in matters of rules, though they are often played differently. There are those Bitcoin games, which have skill elements, while there are those which are down to luck.

Bitcoin games usually are slightly quirky, which becomes a significant factor when it comes to their popularity. Although standard casino games sometimes seem conformist and controlled, with Bitcoin games, they’re designed with end-users, which means the excitement levels are much higher. Here are some of the Bitcoin games.

Bitcoin Alien Run

This is the Mario style scrolling comfort game where the players join come together with Daniel D’Alien, who is the on the exciting adventure which rewards good play using bitcoins. 0.0002 BTC is the minimum payouts and is being paid every Tuesday. The missions change to keep the users keep running, and the being rewards are earned once the game is completed. You can find Bitcoin Alien Run for Android and iOS users for free just by downloading it.

Rocketpot is among the best bitcoin games that has numerous crash games on the market. Its friendly atmospheres, eGaming license, and professional design make it the winner. The players take part in three additional jackpots, mainly mini, mega, and significant for the higher BTC wins. The registration process is easy, and the users take advantage of total anonymity.

Spark Profit

Spark Profit is the trading simulator which costs which rewards the top investors with bitcoin. If the trading predictions are better, the rewards will be more significant. Over $60,000 has been paid to users in more than 100 countries by this game. This means no barrier to anyone who wants to participate. You can download Spark Profit from the Apple App Store or Google Play without any cost. The business model of the company works through taking predictions from the top players. The game is proving the win-win for the provider and the customers.

Satoshi Quiz

This is the game which rewards the players once they answer correctly the quiz questions. To join the game is free where you can start to draw the questions from different topics and categories. Correct answers can earn you about 1,000 satoshis, and this depends on the tiered level system. The first three players will get the prizes, and they are the ones who answer those questions correctly. The prizes are being awarded either daily, weekly, or even monthly with a minimum of about 11,000 satoshis.

Bitcoin Flip

This is the bitcoin game that teaches the users ways of investing in crypto. It doesn’t reward the users because of making first predictions but allows one to save the money intricacies are well understood and what is a lucrative pastime. The currencies being offered are ETH, and XML, among others. Bitcoin Flip enables the users to test the strategies without any risk, which is an excellent tool. Once it is ready, you will go to the real thing.