Money A Short History Of Bitcoin And Crypto Currency Everyone Should Read

13:31  06 december  2017
13:31  06 december  2017 Source:   Forbes

Bitcoin Blows Past $12,000

  Bitcoin Blows Past $12,000 Photo. Getty Images The Bitcoin bubble continues to stretch to even more grotesque proportion s, clearing a value of at least $12,007 per bitcoin and attaining a market cap of $200 billion on Sunday, TechCrunch reported. The strong gains more or less put Bitcoin on a path to clear a value of $13,132 by the end of calendar year 2017, and potentially even more.While doomsayers have been predicting a massive crash in the cryptocurrency market for years, Bitcoin has largely continued its trend of explosive growth - for now.

Those who don’t learn from history are doomed to repeat its mistakes – so here is a brief history of Bitcoin and cryptocurrency. Although Bitcoin was the first established cryptocurrency, there had been previous attempts at creating online currencies with ledgers secured by encryption.

Secondly, trading is not for everyone . The following tips are easy to internalize because these tips Bitcoin is a volatile asset (relative to FIAT) and this fact should be taken into consideration What is short ? long? how to leverage your trades? Follow here to our crypto margin trading for beginners.

a hand holding a cellphone: <span style=Photo by Chesnot/Getty Images" src="/upload/images/real/2017/12/06/a-hand-holding-a-cellphone-span-style-font-size-13px-photo-by-chesnot-getty-images-span__373925_.jpg" />© Provided by Forbes Media LLCPhoto by Chesnot/Getty Images Bitcoin hit news headlines this week as the price of one unit of the cryptocurrency passed $11,500 for the first time.

Although it’s often referred to as new, Bitcoin has existed since 2009 and the technology it is built on has roots going back even further. In fact if you had invested just $1,000 in Bitcoin the year it was first publicly available, you would now be richer to the tune of £36.7 million.

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Home owner willing to accept Bitcoin as payment could make history

  Home owner willing to accept Bitcoin as payment could make history "It's something different, it’s never been done before."Robert Gadd has spent 18 months constructing the five-bedroom home in the foothills of the Dandenongs and has put it on the market.

An Incomplete History of Forks. Ethereum Classic Fork. One of the most illustrative forks of a crypto currency happened in 2016. The price is around 0. And just today I read that there was another fork — Bitcoin Diamond. I don’t know anything about it yet.

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Those who don’t learn from history are doomed to repeat its mistakes – so here is a brief history of Bitcoin and cryptocurrency.

1998 – 2009 The pre-Bitcoin years

Although Bitcoin was the first established cryptocurrency, there had been previous attempts at creating online currencies with ledgers secured by encryption. Two examples of these were B-Money and Bit Gold, which were formulated but never fully developed.

2008 – The Mysterious Mr Nakamoto

A paper called Bitcoin – A Peer to Peer Electronic Cash System was posted to a mailing list discussion on cryptography. It was posted by someone calling themselves Satoshi Nakamoto, whose real identity remains a mystery to this day.

Bitcoin blasts past $10,000 mark amid bubble concerns

  Bitcoin blasts past $10,000 mark amid bubble concerns The cryptocurrency's value has risen nine-fold since the beginning of the year. Tuesday's trading price gives bitcoin a market capitalization of $168 billion, greater than the vast majority of S&P 500 companies, including Dow 30 components Boeing, Disney and GE.Since its founding in 2009, bitcoin has made a name for itself by allowing for anonymous transactions. The digital currency is now accepted by more than 100,000 merchants worldwide, including Microsoft, Dish and Subway. The cryptocurrency has experienced a massive run in 2017. On Jan. 1 this year, bitcoin was priced at just under $1,000.

Everyone new to virtual currencies wants to know what mining is, how it’s done and whether or not it is profitable. As the top digital currency , Bitcoin is also the oldest: it has been around since 2009. In Bitcoin ’s case (as with other crypto currencies ), mining is a

Long story short , Bitcoin and cash are both stores of value, but it does not seem to be legit to compare them to one another. While you can exchange Bitcoin for fiat currency , everything should be okay. Public thinks that Bitcoin is blockchain and everything about crypto is only Bitcoin .

2009 – Bitcoin begins

The Bitcoin software is made available to the public for the first time and mining – the process through which new Bitcoins are created and transactions are recorded and verified on the blockchain – begins.

2010 – Bitcoin is valued for the first time

As it had never been traded, only mined, it was impossible to assign a monetary value to the units of the emerging cryptocurrency. In 2010, someone decided to sell theirs for the first time – swapping 10,000 of them for two pizzas. If the buyer had hung onto those Bitcoins, at today’s prices they would be worth more than $100 million.

2011 – Rival cryptocurrencies emerge

As Bitcoin increases in popularity and the idea of decentralized and encrypted currencies catch on, the first alternative cryptocurrencies appear. These are sometimes known as altcoin and generally try to improve on the original Bitcoin design by offering greater speed, anonymity or some other advantage. Among the first to emerge were Namecoin and Litecoin. Currently there are over 1,000 cryptocurrencies in circulation with new ones frequently appearing.

Bitcoin’s price smashes through $10,000: A history of the digital currency by numbers

  Bitcoin’s price smashes through $10,000: A history of the digital currency by numbers Despite years and years of disbelief, uncertainty, huge crashes and exchange hacks, digital currency Bitcoin has hit an iconic milestone, breaking through a $US10,000 ($13,000) value per coin today.&nbsp;This marks a year of incredible growth for the blockchain-based currency, with the price per coin sitting at $US1000 in January, and fulfils a number of prophecies laid out by investors and speculators around the price of the cryptocurrency. Not JP Morgan’s Jamie Dimon though, he thinks Bitcoin is “a fraud”.

Bitcoin & Crypto - currencies . How I became involve. History has shown that currencies can fail and disappear. What makes you believe that you should trust one currency instead of another?

A short history of money. Money and Freedom. If you want to skip historical context that preceeded Bitcoin , feel free to start reading from The Dawn of Bitcoin . If you don’t care about history of Bitcoin and overview of other Crypto Currencies , skip to High level technical overview of Bitcoin .

2013 – Bitcoin price crashes.

Shortly after the price of one Bitcoin reaches $1,000 for the first time, the price quickly begins to decline. Many who invested money at this point will have suffered losses as the price plummeted to around $300 – it would be more than two years before it reached $1,000 again.

2014 – Scams and theft

Perhaps unsurprisingly for a currency designed with anonymity and lack of control in mind, Bitcoin has proven to be an attractive and lucrative target for criminals. In January 2014, the world’s largest Bitcoin exchange Mt.Gox went offline, and the owners of 850,000Bitcoins never saw them again. Investigations are still trying to get to the bottom of exactly what happened but whatever the story, someone dishonestly got their hands on a haul which at the time was valued at $450 million dollars. At today’s prices, those missing coins would be worth $4.4 billion.

2016 – Ethereum and ICOs.

One cryptocurrency came close to stealing Bitcoin’s thunder this year, as enthusiasm grew around the Ethereum platform. This platform uses cryptocurrency known as Ether to facilitate blockchain-based smart contracts and apps.  Ethereum’s arrival was marked by the emergence of Initial Coin Offerings (ICOs). These are fundraising platforms which offer investors the chance to trade what are often essentially stocks or shares in startup ventures, in the same manner that they can invest and trade cryptocurrencies. In the US the SEC warned investors that due to the lack of oversight ICOs could easily be scams or ponzi schemes disguised as legitimate investments. The Chinese government went one further, by banning them outright.

Bitcoin exchange NiceHash robbed of $64 million from its wallet

  Bitcoin exchange NiceHash robbed of $64 million from its wallet As the value of Bitcoin soars, it also turns holders of large volumes of the currency into prime targets for thieves.&nbsp;For those keeping score, that’s about 4,700 BTC, each worth about $13,617 at the time of the breach.

The world of crypto currency is moving really fast. Over the past 5 years Bitcoin outperform any other investment like gold, stock market or real estate. Are you a short time trader or long term? Is it scam or should I invest in this crypto currency ? Have a nice day.

The legality on Bitcoin and other crypto currencies depends on where you are and what you wish to do with it. The German Federal Ministry of Finance further clarified their position by saying that Bitcoin should be treated as a unit of account and private money and should therefore be subject to

2017 –Bitcoin reaches $10,000 and continues to grow

A gradual increase in the places where Bitcoin could be spent contributed to its continued growth in popularity, during a period where it’s value remained below previous peaks. Gradually as more and more uses emerged, it became clear that more money was flowing into the Bitcoin and cryptocoin ecosystem. During this period the market cap of all cryptocoins rose from $11bn to its current height of over $300bn. Banks including Barclays, Citi Bank, Deutsche Bankand BNP Paribas have said they are investigating ways they might be able to work with Bitcoin. Meanwhile the technology behind Bitcoin – blockchain – has sparked a revolution in the fintech industry (and beyond) which is only just getting started.

Whatever your opinion on Bitcoin and cryptocurrency – and educated commenters have described them as everything from the future of money to an outright scam – it seems they are here to stay. Will it succeed in doing what many early adopters and evangelists claim it is destined to – replace government-controlled, centralised money with a distributed and decentralized alternative, controlled by nothing besides market forces? Well, 2018 may yield some clues but we are unlikely to know the answer for some time yet.

Bernard Marr, Contributor

Bitcoin slips to around $16,300, futures volumes drop .
Virtual currency bitcoin dipped slightly from the previous session's record highs on Tuesday, after a month of whirlwind and volatile gains leading up to the launch of bitcoin futures on the weekend. Bitcoin was quoted at $16,390 on the Luxembourg-based Bitstamp exchange (BTC=BTSP), down half a percent or $80 from its previous close.The world's biggest and best-known cryptocurrency hit a record high of $17,270 on Monday, registering a nearly twenty-fold increase in its price for the year as it drew in millions of new investors.

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