Some Basic Bitcoin InformationBy Angelica Malin
Although Bitcoin is a global phenomenon there are still a lot of people that don’t know much about it. There have been several success stories and many have been inspired to start trading. But before you do you need to know the basics.
You’re probably aware that it’s a highly-volatile digital currency. As such it gives ample opportunity to investors when it comes to making a profit. But what about the history of the cryptocurrency? Naturally, you should know a bit about the past and contemporary history of Bitcoin. Without further ado, let’s dive into the history of Bitcoin.
A Bitcoin History Lesson
Digital currencies are nothing new. In fact, they have been around since the 90s. Not a lot of people know that BitGold was a predecessor of Bitcoin. However, the cryptocurrency that we know today didn’t come to be until 2008. It was the mysterious Satoshi Nakamoto that published a white paper on the technical outlines of the cryptocurrency.
Next year on the 3rd of January the Genesis block of Bitcoin came to be. This block contains 50 BTC that no one can mine. The process for a new block is fairly simple and lasts for just 10 minutes. The creation process continued and several new blocks came to be.
But the contributors to the project still needed to test out Bitcoin’s validity. In other words, they’d need to prove the cryptocurrency’s value. They needed to buy something. That’s when they bought a pizza from Papa John’s for 10,000 Bitcoin. This happened in 2010 and it was the first of many successful transactions.
Nowadays Bitcoin is a popular currency for many reasons. One of them is that the cryptocurrency is decentralized which means that it isn’t controlled by a third party. Furthermore, Bitcoin secures the users’ accounts better by providing them with a layer of anonymity.
Those 2 are only some of the reasons why people are getting into Bitcoin trading. To make the process easier, people have come up with trading bots. If you’re looking for such services then the Bitcoin Era website is the platform for you. With an account and a minimum deposit as well as a few tutorials you’ll be well on your way to understanding how the bot works. After that, you can try it out by setting it to trade in a live session. Naturally, you can come back to it and change some of the settings.
What About Bitcoin Today?
Well, you probably know how popular the cryptocurrency is today. There are several businesses that accept it as a viable payment method. This means that you can buy some products or services via Bitcoin. One of the industries that accepted the cryptocurrency is the gaming industry.
The industry is well-known for accepting trends. That’s why you can get some gift cards by using cryptocurrency. But that’s not all. Developers were inspired by blockchain technology and created several crypto games.
Some of them are trading card games that you can play alone or with friends. The blockchain lets you keep your collectibles for a long time. But not all of these games are card games. Some of them are simulators games. They simulate the trading market of Bitcoin by using real prices of assets.
You’ll get some kind of virtual currency to play with. Additionally, you’ll play against others similar to how you’ll trade against others in real life. Furthermore, you’ll learn important skills such as market analysis and predicting the price which are crucial if you’re looking to become a trader.
Naturally, there are other types of Bitcoin games. Some of them help you relax and earn rewards by completing daily challenges. It’s clear that Bitcoin is becoming more popular so these games will gain popularity as well.
The rise of popularity increases the number of users of Bitcoin and therefore the size of blockchain according to statistics. This means that the popularity of Bitcoin will only go up in the coming years. As a result, it will become a supported payment method with various businesses and will definitely thrive in the gaming industry. All in all, things are looking good for Bitcoin and the people looking to make investments in the cryptocurrency.