Bitcoin - the first cryptocurrency
Bitcoin, the idea of a digital currency that is decentralized and internationally valid, has found many millions of followers since it was first unveiled in 2008. Bitcoin is decentralized-there is no government, institution (like a bank) or any other authority that controls it. In the meantime, Bitcoins and other cryptocurrencies such as Ethereum has been used in internet commerce worldwide for several years. More and more shops and online shops are accepting cryptocurrencies as a means of payment.
Bitcoin is currently considered the safest fiat (Euro/Dollar etc.) Alternative. This is due to the Bitcoin blockchain and the miner network secured by cryptography. The blockchain is a shared public checkout book on which the entire Bitcoin network is based. All confirmed transactions are stored there. So Bitcoin wallets can calculate the account balance and new transactions can only be executed if the Bitcoins actually belong to the transmitter.
Current Bitcoin price
"People underestimate Bitcoin somewhat. It's a reserve currency like gold, just a store of value. You don't have to use it for payments. If bitcoin becomes the cyber variant of gold, it still has great potential. It's even harder to fash than gold. "
Peter Thiel, Silicon Valley investor, 26. October 2017
Since January 2017, the value of the bitcoin has increased by over 1500%. Even from recent price slumps, it would still have been a good investment with a 145% increase. Experts expect further increases by the end of the year. There is a lot of movement throughout the crypto market. Almost every day you read about collaborations of large companies such as Volkswagen with iota or BMW with VeChain. Banks are also increasing their investments in blockchain technology projects.
What is Bitcoin and blockchain. In this video, you will be told what is behind it.