Bitcoin! still the top dog of Crypto

Bitcoin was introduced as a white paper in 2009 by an unknown individual going by the name Satoshi Nakamoto, it has since become one of the most well known alternative digital currencies in the world. 

How our banks gained so much control of our lives and the rise of Bitcoin!

It's popularity has increased dramatically as the price to purchase it has increased from pennies in 2010 all the way to $68,000 in November of 2021.  The history of Bitcoin and digital currency goes back farther than 2010 with the "holy grail" being decentralized transactions over the internet with no worries about security (trustless transactions).

 Bitcoin's Blockchain

The world has been run for generations using centralized banks to store money, and almost all transactions were local.  Then the internet came along and a new global audience was a couple clicks away. Yet we had no way to ensure these transactions could be trusted. 

Blockchain is the magic that makes Bitcoin so powerful.  

Satoshi's blockchain technology solved this problem using cryptography and a distributed ledger, along with miners who would be paid a small fee from each transaction to verify the settlement. 

A better way to think of a blockchain is a distributed excel sheet that is kept up to date on thousands of computers world wide.  You can keep track of every transaction all the way from the very first one.

Secure transactions

Miners are an important feature of Bitcoin as they compute the algorithms which are entered onto the blocks. 

The blockchain keeps track of every transaction made, it uses public and private keys (public keys gives a destination to transfer coins, and private keys give access to your coins) in order to keep the transactions from being tampered with.  These are then combined by miners with other transactions in a given time period and end up in a block on the blockchain. 

Decentralization of Wealth

Our trust in the system gives banks the power. How  Decentralized transactions takes control back from the big Banks!

The decentralized database is updated to all computers (called nodes) who have downloaded the ledger.  This process creates the accountability and the decentralized transaction verification that has been the holy grail of digital currency. 

The centralized banks and their utter failure in 2008 is why decentralized transactions have become so important.

Currency

How is Bitcoin a currency?  This technology is so new it is hard to fit it into our normal concept of currency.  As of right now you can buy goods and services with Bitcoin online and in the physical real world. 

The financial world is ramping up to invest in this technology because of its unlimited potential in the global market.   

The more crypto goes mainstream the easier it will be to use instead of credit cards or cash.  On top of this, there are brilliant minds coming up with new ways to use this technology every day.  

These entrepreneurs have taken the blockchain technology to amazing places as we see new innovations being developed that just a few years ago hadn't even been imagined.

Lets get started

It won’t be long until our current concept of currency world wide will be outdated and replaced with blockchain technology.  Once I wrapped my mind around how life altering the potential of this technology was I jumped aboard and haven't looked back.

Check out some ways to make free Crypto!

If you are like me and can't wait to get started, here's how you buy Crypto from an exchange. If you would like to get free crypto I'll give you some thoughts on that too.

Today there are thousands of alt coins of which Bitcoin takes a little more than half the market cap.  Bitcoin is still seen as the safest bet as it has suffered the most attacks and issues over the years and thus it is the most trustworthy of all crypto, tried and true.  

The new money that will be coming into the Crypto Market will most likely start in Bitcoin.  No matter what anyone tells you, Bitcoin is NOT going away. All I can say is hop on board this train as it already has a ton of momentum and those that are on board now may well reap the rewards.

Top of Page

Home

Recent Articles

  1. Cryptocurrency is about to go mainstream, come find out why.

    Feb 20, 22 11:33 AM

    Cryptocurrency about to explode, as big money starts to invest these prices won't stay low for long!

    Read More

  2. Theta Token

    Feb 19, 22 11:14 PM

    Theta technology solves the internets slow transmission speeds through incentivized bandwidth sharing.

    Read More

  3. CryptoWallet tips and tricks and keeping your Crypto safe.

    May 31, 20 05:17 PM

    How to store your Coins in Crypto Wallet giving you peace of mind!

    Read More