When Bitcoin Started And When Bitcoin Will Crash
Many people want to know when bitcoin actually started and when bitcoin will end. In this article, I will explain both of those questions. So let’s get to the first topic.
When Bitcoin started?
“The idea behind Bitcoin was introduced to the world on Oct. 31, 2008, at the depth of the financial crisis by a pseudonymous person called Satoshi Nakamoto,” according to Chetan Chawla, assistant professor of entrepreneurship. After that Satoshi Nakamoto posted a message on the cryptography mailing list titled, “Bitcoin P2P e-cash paper.” In it was a link to a white paper called “Bitcoin: A Peer-to-Peer Electronic Cash System.” You can find both of those online. Later on 3 January 2009, Satoshi Nakamoto created a bitcoin network. He created the first block that produced 50 BTC as a reward.
When Bitcoin Started How Much Was It Worth?
At first, bitcoin has no value. Some people are just trading BTC for fun. On May 22, 2010, a man who lives in Florida negotiated to have two Papa John’s pizzas, valued at $25, delivered for 10,000 bitcoins. That single transaction started Bitcoin’s initial real-world price or value of bitcoin at 4 bitcoins per penny which means 400 Bitcoin for a single dollar.
So if you wanted to know what was bitcoin real price when it started then there is your answer. The real-world value was 4 cents per bitcoin. Meaning you could get 400 Bitcoin with a single US dollar and 4000 for $10 dollar. If you want to cry about why you didn’t buy bitcoin that time you can go ahead.
When Bitcoin Will Crash?
There are many people who want to know that When Bitcoin Will Crash? Right now there are more than thousands of Cryptocurrency that exist on the internet. Some of the popular ones are Bitcoin, Litecoin, Namecoin, Ethereum, Dogecoin, etc. However, the future of Bitcoin is volatile, to say the least. And to be honest, nobody knows the answer to that question. But in my point of view bitcoin faces the two biggest threats to its existence. Let me explain these two threats below.
1. Gov can ban cryptocurrency: If all the gov agree on banning cryptocurrency then BTC price will fall and bitcoin will crash. Now many people will argue that this is not simply possible because people can just mine or use cryptocurrency in secret. However, if all gov make it a punishable crime for using cryptocurrency then people will stop using them and all crypto will fall.
Now you might be asking is it a real possibility? I would say no. But if cryptocurrency brings some big problem like massive usage of power or used too much by criminals then this could be a possibility. As of these moment this I am not seeing any possibility though.
2. Another cryptocurrency can take Bitcoin Place: Now this is a real concern and this could actually happen. There could be another cryptocurrency that is so better than Bitcoin that people will start using that cryptocurrency. For example, let’s say there is new crypto that takes very limited power, very fast and low transaction fee, and can be used for everything. Of course, that will gain popularity and Eventually, Bitcoin will crash.
As of this moment, Bitcoin is the king of Cryptocurrency. It gains so much popularity that other cryptocurrency prices rise and fall according to Bitcoin. So it is safe to assume that bitcoin is here to stay. And we might be looking into a cashless society. And if that happens it will only happen because of cryptocurrency.