Bitcoin users all over the world continue to grow by the day, yet most people still have a hard time wrapping their heads around the idea of this modern digital currency. The uncertainty has raised so many questions about whether or not Bitcoin is still relevant to this day.
2019 showed us that the answer is a clear yes. Although Bitcoin is still in a constant state of development, we’re starting to see a clear future of where Bitcoin is headed. As more people scramble to learn about bitcoin, companies develop their own blockchain techs and institutions recognize its potential, Bitcoin is definitely here to stay.
So before the year 2019, or the year of Bitcoin’s resurgence ends, you might want to stock up on some knowledge in this quick Bitcoin guide.
Bitcoin’s Origin
Bitcoin has been in the business since 2008. It was created by a developer known behind the pseudonym ‘Satoshi’ to provide a new variation of digital currency that would materialize peer-to-peer transactions. Bitcoin still has that central function up to this day, along with other features that optimize digital money transactions.
Bitcoin can be spent on regular purchases
A lot of people who just started to learn about bitcoin initially thought that Bitcoin is for Bitcoin only. Since Bitcoin is completely different from conventional cash, one would think that your options for using it are quite limited. But, Bitcoin is more inclusive than one may assume. You can use Bitcoin for online shopping, paying bills, online betting, and for accepting commissions.
Bitcoin peaked at 2017, plummeted in 2018, and regained momentum in 2019
In case you’re wondering how Bitcoin has been faring in the market for the past few years, it’s been quite a roller coaster. You might have heard about Bitcoin’s star moment back in December 2017, where the price of a single Bitcoin reached a gleaming 20,000 USD. However, it was followed by a tumultuous 2018 where the price index declined, and in 2019, it shot back up to four and five digits. Like the stock market, Bitcoin is volatile, which is one of the key things to consider when jumping into Bitcoin investments.
Billionaires and celebrities are on the Bitcoin wagon
Experts don’t call Bitcoin the ‘rockstar cryptocurrency’ for nothing. Billionaires like Mark Cuban and Richard Branson have expressed their interest in Bitcoin and started including Bitcoin in their investment portfolios. Celebrities like Ashton Kutcher, Gwyneth Paltrow and Floyd Mayweather, just to name a few, have all been involved in startup Bitcoin companies.
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