The birth of Bitcoin currency and it’s dominance.2 min read
The “evolution” of digital currency took a new turn when the first cryptocurrency made the headline, the creation of internet money. Of all the cryptocurrency, bitcoin currency is the first to see the light of the day, as it came to limelight by the year 2009.
This money had its features; it was invisible and had a whole lot of new system, where it was famous for being the first decentralized digital currency, thus, it had no single centralized administrator.
Bitcoin currency was developed by a group of programmers, or a programmer called Satoshi Nakamoto, whose identity is yet to be known. They issued the first block of bitcoin, which was known as genesis block, and it produced 50 bitcoin.
When it was first introduced, it earned its first acceptance from Hal Finney, Nick Szabo, Weida. The first world bitcoin transaction took place between Finney and Nakamoto, where Finney received 10 bitcoins from him.
Another noticeable transaction was that of 10,000 BTC which was used to purchase two pizza that was delivered by Papa John’s.
Bitcoin currency rises and Dominance.
The value of bitcoin has greatly increased, and the number of bitcoin in circulation has also increased. Bitcoin has gone through its stage of growth and has turned out to be the world’s most popular cryptocurrency.
It worth has gone through the various period of appreciation and depreciation. Its value rose from US$0.30 to US$32, then it fluctuates and reduces to US$2. It was price US$226 in 2013, 10th April. While in 2013, November 29th, the price was at high US$1,242, and then significantly reduced. The worth of bitcoin is affected by the level of demand for this digital currency.
The bitcoin currency has been relatively stable for a while, and it is currently valued at US$ 4,405.22. it is by far the most valued cryptocurrency.
In conclusion, bitcoin has won the heart of people and they all seem to invest more into bitcoin and take good advantage of its further growth.