What is Bitcoin? How did Bitcoin change lives around the world?

Bitcoin is a mystery for all of us and how it started from $0.30 ( 2009 ) to $42.00 ( 2021 )

What is Bitcoin?

Bitcoin is a consensual network that offers a new payment system and fully digital money.

This is the first decentralized peer-to-peer payment system supported by its users without a central authority or intermediaries.

From the users' perspective, bitcoin illustrates cash for the Internet.

When did Bitcoin appear on the Crypto Market?

The Crypto Coin called Bitcoin appeared on the Market in 2009, created by Satoshi Nakamoto, and, at that time it was worth around $2.

The name Satoshi Nakamoto is an alias and I don't think it's his real name.

Bitcoin revolutionized the way the financial industry works.

The identity of Satoshi Nakamoto is still unknown even to this day.

I personally think that Bitcoin was created by a person who doesn't care about money and wanted to help the world with his currency, I think in his vision people would mine Bitcoin and spend it on food and normal bills, he wanted a currency free of control, something similar with what Nikola Tesla wanted with his invention of electricity to be free for everyone.

In 2008 he published and sent the Bitcoin White Paper, called "Bitcoin, a peer-to-peer system with money" and he sent it to a few users interested in Cryptography.

In 2009 January the network was born and Satoshi Nakamoto mined the first block and received a reward of 50 Bitcoins for it.

Hal Finney was a programmer and one of the first supporters and contributors of Crypto Currency and the first one to even trade Bitcoin.

Within the first few months after the launch of the Nakamoto System, over one million Bitcoins were mined.

In the year 2010 Nakamoto gave the alert key and control source code to the programmer Gavin Anderson, who later became

the main person to develop Bitcoin Network and bring it to the light more.

Gavin Anderson wanted Bitcoin to be a free spirit and not be in control of anyone and not to be centralized.

The value of Bitcoin was negotiated by the first users and the first transaction was made in 2010 when imagining how one of the users bought some food and paid over 10.000 Bitcoins at the time.

Bitcoin had some ups and downs over the years since 2009, wherein 2011 it went from $0.30 up to $30 and then back down to $2 since it changes when the mass of people Buy and Sell.

The volatility of Bitcoin is almost 7-8 times higher than gold trading and about 18 times than the $.

Fluctuations have created a huge interest in Bitcoin among business people interested in high-risk transactions.

The picture above shows how the Bitcoin price is affected when people buy and when people sell. See how the price goes up when there is a continuous buy in order and at the end where it's red people are selling because they want to take the profits.

In 2014 March the Market Cap of Bitcoin exceeded 8 Billion $ and millions of dollars of transactions were made daily.

In 2017 December Bitcoin reached a new All-Time High @ $19.783 and then the price crashed to $6200.

I personally started trading with Crypto Currency in January 2020 and following the prices daily I saw that Bitcoin was trading under $5.000 at that point big companies started to buy big chunks making the price go up.

In 2020 December and January 2021 ( within this 1 month ) Bitcoin went from $18.000 to $41.850 breaking the previous All-Time High over $19.783.

I found a story of Erik Finman and how @ the age of 14 when he invested $1.000 money that he got from his grandmother at the age of 12 for education. How with that $1.000 he decided to invest in Bitcoin in 2011 @ the price of $12 per BTC.

In 2013 the price of Bitcoin reached $1200 per BTC making Erik feel happy and he made a plan and proposed it to his parents that he wanted to start a company with the money from Bitcoin and if he would have became a millionaire by the age of 18 they would allow him to not go to college and they accepted the challenge.

(His father an engineer and his mother a physicist)

He then moved to Silicon Valley where he created his company Botangle about online education where frustrated students come and get help.

Botangle gave him some new opportunities and where he met Reedit co-founder Alexis Ohanian.

In 2015 he found an investor that offered to buy the company for either $100.000 or 300 Bitcoin ( the price of BTC @ $310 ) and Erik preferred the Bitcoin, at that time Erik had another 103 BTC making his total of 403 Bitcoin Owned.

He then waited and in 2017 he sold @ $2700 per BTC making him over $1 million and he traveled the world.

Thank you for reading my story and I hope I helped with some questions about what Bitcoin is all about.

Do you wish you would have had someone telling you to buy Bitcoin back in 2009 - 2010?

Don't we all?