The concept of bitcoins was firstly proposed by Satoshi Nakamoto on 1st November 2018. Bitcoins are P2P virtual cryptocurrencies that were officially born on 1st January 2009. They are based on open-source software designed according to Satoshi Nakamoto's ideas and the P2P network built upon it. P2P means peer-to-peer, which is an essential factor for a decentralized payment system. Different from other currencies, bitcoins are not issued by a specific organization but produced via a large number of calculations. Bitcoin economy utilizes distributed databases comprised of nodes in the whole P2P network to confirm and record all transactions. Furthermore, it enhances the security in each currency circulating section through the deployment of cryptography technologies. The decentralized feature of P2P and the calculations ensures that people cannot deliberately produce a large number of bitcoins on their own. As bitcoins can only be sold or transferred by real owners, the ownership of cryptocurrencies and the anonymity of transactions can be guaranteed. The biggest difference between bitcoins and other virtual currencies is that the number of bitcoins is very limited.
Bitcoin is a virtual currency without a fixed price. Since bitcoins were born in 2009, the price of bitcoins has dramatically increased and decreased many times. Is there anyone wondering how much a bitcoin is and why it is so valuable? You only need 5 USDT to buy bitcoins. Let’s look together.
The price of bitcoins is the highest among all cryptocurrencies. First, we need to know that it fluctuates all the time. Compared with stocks, funds and gold, the fluctuation of bitcoin price is even more dramatic.
- Bitcoins were first used to trade on 22ndMay 2010. A programmer spent 10,000 bitcoins to purchase pizzas worth 25 dollars. Calculated based on the bitcoin price on 18th December 2017, he almost spent 130 dollars to buy 2 pizzas.
- On 13thFebruary 2011, the price of bitcoin reached 1 dollar.
- At the beginning of April 2011, the price of bitcoin rose to 100 dollars.
- At the beginning of January 2017, the price of bitcoin rose to 1,000 dollars.
- On 18thDecember 2017, the price of bitcoin reached 19,891 dollars.
We suggest all users trade bitcoin on big exchanges such as Binance and 8V. Users can purchase bitcoin with one click on the 8V platform. Highly recommend!
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