Bitcoin is the primary effective web cash dependent on shared innovation; whereby no central bank or anyone is linked to the exchange and how bitcoin is generated. It was an innovation of Satoshi Nakamoto. The source code is easily accessible as an open source venture; anyone can take a gander at it and be a piece of the formative procedure.
- $9,263.22 (-0.53)%
- S&P 500
- Dow & Jones
- ATH Price$20,089.00
- ATH Date2017-12-17
- % since ATH-56.28%
- % to ATH2.29x
- ATL Price$0.01
- ATL Date2010-01-01
- % from ATL 878,706.77x
- Last Low Price$3188.300312
- Last Low Date1970-01-01
- % from Last Low 2.76x
- MIG Rank
- Market Cap $170,740,025,224.00
- Volume $13,809,610,573.11
- Vol. / Market C. Ratio8.09%
- Av.Supply / Max Supply Ratio 87.77%
- Open SourceYes
- Develpment StatusWorking product
- Proof TypeProof of Work
Wladimir J. van der Laan
- Bitcoin sometimes drops by hundreds of dollars in a single day thereby paving the way for day traders and speculators to make fortune.
- The largest use case for bitcoin is as a store of value. Like gold, it is seen by some as a valuable and appreciating asset that retains its worth or increase in purchasing power with time.
- About 4 to 6.5 Billion unbanked people can use it as a global payment method
- Migrants can use it to send money to their relatives in their countries e.g., African, Asian, and Latin American countries
- Can be used for micro payments for machines e.g., company like Uber can have self-driven cars in future which get paid automatically in bitcoin
- Wide acceptance as a payment method.
- Transactions easier than regular currencies.
- Lower transaction fees.
- Bitcoin is the most decentralized crypto currency with the biggest network effects
- Borderless, Permission less, Immutable etc.
- Anonymity and privacy relative to traditional currencies.
- Black market activities can damage usefulness.
- No charge-backs or refunds.
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