Bitcoin's value: highly fluctuant with a volatile trading history
You can safely assume that everyone has heard about Bitcoin by now. The popular and mostly valuable cryptocurrency is known for having earned some lucky people, a lot of money. It was first introduced to the public more than a decade ago through an anonymous creator. Since then, the value has been highly fluctuant with a volatile trading history. If you bought Bitcoins early and owned some in 2010, you were very lucky.
The early highs and lows
This year, the value of a single Bitcoin jumped from around $0.0008 to $0.08. The cryptocurrency was created by Satoshi Nakamoto, the creator’s alias, and was meant to be used or daily transactions and as a way to challenge the traditional banking infrastructure after the terrible financial collapse in 2008.
Bitcoin had another large jump during the spring of 2011, when the price jumped from $1 per Bitcoin in April to $32 in June. This answers to a 3200% jump in only three months. However, this was followed by a sharp recession and the price for Bitcoin ended up at a mere $2 in November the same year.
Bitcoins value today
These numbers are from the early days of bitcoin and seems small when comparing it to today’s value. During the pandemic that started in 2020 the price of Bitcoin would decrease due to financial issues. We can still see an increase during the course of this year when the value increased by 224% in the 12 months. This was mostly because of an institutional interest in cryptocurrencies in general. January 2021 was a historical month for Bitcoin when it beat all its previous price records, selling at more than $40.000.
What are cryptocurrencies and where can you buy them
Cryptocurrencies is a payment method and a strictly digital asset that can be purchased, used, held and sold online. It is a currency that is regulated by supply and demand, as many other currencies. However, it is not reregulated by a national bank or financial institute.
Cryptocurrencies are known for having highly fluctuating value which makes them risky to buy and trade. However, many cryptocurrencies’ owners have experienced and extreme increase in value when it comes to currencies such as Bitcoin. Buying cryptocurrencies can be done online by everyone that wishes to be a part of this world and own a coin or two. Some online brokers offer cryptocurrency purchases, other places to buy is at
Where can you use it?
Following the increasing popularity, more and more places offer cryptocurrencies as a valid payment form. You will meet this at many online stores but also some physical. Some uudet pikasinot also allow you to finance the games using cryptocurrencies such as Bitcoin. Bitcoin can either be bought online or in Bitcoin ATMs, which you will find in some countries. You can bot buy and sell Bitcoins in the ATMs; however, most people choose to buy and hold cryptocurrencies to be used as a financial investment.
In other words, Bitcoin is not used exactly how Nakamoto visioned it when he created the asset in 2008, but stores and online website are slowly but surely picking it up. In general, cryptocurrencies are becoming a more “everyday phenomenon” and people are more prone to it. While it used to be highly associated with crime and illegal acts, people are starting to realize that the currency itself is not illegal at all. The reason why it has been used for such, is because it is viewed as a more safe and anonymous payment method. This is because It uses blockchain technology.
Bitcoin is famous for using blockchain technology, making it more anonymous and safer. This can be described as a digital accounting book that is both decentralized and distributed, which makes it possible to register, track and make visible all digital transactions. It also stores data in blocks that are linked to each other using cryptography.
Blockchain is especially suitable in situations where there is a lack of trust in those who store and manage data because it is highly difficult to change it. This is because data that has already been stored cannot be changed without changing all the data stored afterwards, which is very difficult to do in practice. Blockchain is therefore resistant to changes in data stored in the ledger.
Bitcoin have had a highly changing value and a history rich in content. Following its ups and downs are interesting and it is difficult to imagine just how important it has become.
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