Bitcoin is the world’s oldest and leading cryptocurrency. Bitcoin was created as an open-source software by its creator who is known under the pseudonym, Satoshi Nakamoto. Bitcoin is a cryptocurrency and payment system which is the first decentralized digital currency, that works without a central bank or administrator. All transactions are peer-to-peer based and are handled by between users directly. Like many other cryptocurrencies, Bitcoin also used the blockchain public ledger system that records all transactions and secured them at nodes using cryptography.
BITCOIN (BTC) PRICE PREDICTION 2018
Bitcoin is the big daddy of all cryptocurrencies. It has the highest value and has the least number of coins in circulation. While Bitcoins creator remains a mystery, its popularity is still up there as more and more people are investing in them. It is considered as the “Gold” in cryptocurrencies. A cryptocurrency is an alternative payment method to cash, credit cards, and checks. Its underlying technology allows you to send it directly to others without involving a third party like a bank. Bitcoin is used both as a means to pay for transactions, it is accepted by more than 100,000 merchants as a mode of payment.
Bitcoin source code is open for modifications and it was published by its founder Nakamoto on SourceForge. It uses a simple transactional language that is similar to the imperative stack-based programming language Forth. All transactions can have multiple inputs and outputs allowing people to send coins to multiple recipients at the same time. Since it is so scarce and has a much higher transaction fee, Bitcoin is more suited to dedicated miners and high profile investors. Bitcoin price as of today stands at 6283.77$. There are around 16,348,300 Bitcoins in circulation and has a total transaction volume of more than $40 billion.
FEATURES OF BITCOIN
Bitcoin has some advantages over other currencies.
Easier to buy or mine: Bitcoin is easier to access and has more merchants, exchanges, hardware, and software to support it.
Market cap: Bitcoin, thanks to being the oldest currency out there has a huge market cap lead of over 46 billion over other currencies.
Developer ecosystem: Bitcoin enjoys the largest developer support of any cryptocurrency so there will be more applications and solutions to common problems than other currencies.
As with the number of developers supporting the currency, there are a lot of wallets that can be used to store Bitcoins. A bitcoin wallet allows you to send receive and store your coins. There are both online and offline wallets available and all of them uses private keys that need to be used to perform any kind of transactions.There are nearly 80 wallets that support Bitcoin. The most popular online ones are Blockchain and Coinbase. The most popular among offline wallets are Exodus, Electrum and Mycelium.
HOW TO BUY BITCOIN
Bitcoin is among the easiest of cryptocurrencies to buy or mine. There are a lot of wallets out there that can be used to buy Bitcoins. the best way is to buy it with real cash using a wallet like Coinbase. You can also mine them if you have the patience and a system powerful enough to do that in any reasonable amount of time. This is the easiest and fastest way to get your hands on the cryptocurrency.
Bitcoin is having a slightly rough time for Bitcoin as the values are on the decline but investors and researchers are predicting a huge boost coming soon. It is still the best options to invest in.