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A Brief History of Bitcoin

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Even though nowadays many people know about Bitcoin, not everyone understands how it started. This guide offers the basic aspects of its history, including its origins and what its future might be. Is it the right investment choice for you? Read its background and find out!

What Is Bitcoin?

Before getting into the history of Bitcoin, it’s necessary to understand what it is. Bitcoin is a cryptocurrency, which means it’s a digital asset with which you can make different transactions.

Although Bitcoin was not taken seriously when it first came out, it later became one of the most revolutionary currencies of the decade. Nowadays, you can pay using Bitcoins and other cryptos in many different stores. If you’re wondering why taking bitcoin payments might be good for business visit this link to learn more.

Background

Different people had tried –and failed– to create digital currencies before the birth of Bitcoin. Stefan Brands and David Chaum were the main two creators to make e-cash products, but the idea initially started in the 90s, with Moni Naor and Cynthia Dwork.

Since there were so many failed attempts at making e-cash, when Bitcoin first started, no one took it seriously. In fact, it took Bitcoin many years for people to recognize it as something of value, especially by critics and experts in the fields of economy and commerce.

How it Started

Bitcoin started in 2008 when a person or group created the domain bitcoin.org. The name of the anonymous person or person was Satoshi Nakamoto, and until now, many people have speculated about who they are. However, no one knows.

Several companies tried to investigate and find out who Satoshi Nakamoto is, but they did not succeed. Eventually, they sold the source protocol they used to create Bitcoin, so it’s now virtually impossible to find out who they were.

As this guide mentioned before, Bitcoin started in 2008, but no critic or knowledgeable person in the fields of economy and finance took it seriously. On the contrary – it was known for being a joke, and people referred to it as such – there were even books about Bitcoin being for dummies, and some sitcoms made fun of it too.

A few years after Bitcoin started its price went up to the skies, which surprised many people. It completely changed what everyone thought about this crypto, and it’s the main reason it revolutionized the industry.

After that, many experts tried to replicate what Bitcoin had done for the world of economy and finance. Therefore, nowadays, many more cryptos exist. Thousands of people are interested in learning more about this to see if it could benefit their lives.

The Future of Bitcoin

Bitcoin changed the world for sure, but it also gained a reputation for being highly unpredictable and volatile. Thus, even though it changed many people’s lives for the better, it wasn’t the case for others.

However, the decision is ultimately up to you – are you willing to take the risk? Even so, remember that Bitcoin changed the world, and it could change your life, too!

Should You Invest in Bitcoin?

Many people are scared of investing in Bitcoin because they say it’s too volatile. Nonetheless, everything has its risks in life, and Bitcoin has proven to be a revolutionary currency.

Millions of investors and traders grew thanks to Bitcoin because they decided to take the risk. Thus, why not give it a go? It might be the investment opportunity you have always wanted!