What are you looking for?

Guides

Crypto 101 Chapter #1- Introduction

Crypto 101 Chapter #1- Introduction
George Samprovalakis 15 September 2018

Blockchain Tech and Cryptocurrencies. An Introduction

In this first lesson, we will explain almost everything about Bitcoin (BTC) and cryptocurrency, how they work, since when they exist, why they exist and what kind of technology is behind Bitcoin. Actually, it wasn’t too long ago when we all started hearing the words ‘Bitcoin’ and ‘cryptocurrencies.’

In that not so long past very few individuals outside of the crypto-communities had a clear understanding of what they were and many thought it was just another fad that was destined to fail in a few short years or so. Those days the value of a single bitcoin was just a few cents so obviously it wasn’t worth a lot. That was the initial reason that it was ignored by the masses. After all, there were far more profitable investments that someone could make.

Those few who invested sums of money on the new digital currency either believed in the system proposed by its founder, Satoshi Nakamoto, or they simply curious by nature and wanted to see how it works.

Either way, those few who believed at those early days were rewarded greatly, and continue to be rewarded, as a single bitcoin now costs some thousands of dollars.

It took only 5 years for  Bitcoin to reach and surpass the mark of $1,000 at the end of 2013. Few years later, BTC prices soared above the unbelivable $10,000 mark for a single BTC!

The field is still uncertain and volatile but with skyrocketing prices and extremely fast growth, more and more people are curious about bitcoins and cryptocurrencies as a whole.

Read the next chapter: The roots of cryptocurrencies

More COI News

Author

George Samprovalakis

George Bio

Read More

Loader