BTC Price Index and Live Chart CoinDesk 20
Bitcoin is the world’s first decentralized cryptocurrency – a type of digital asset that uses public-key cryptography to record, sign and send transactions over the Bitcoin blockchain all done without the oversight of a central authority.
The Bitcoin network (with an upper-case “B”) was launched in January 2009 by an anonymous computer programmer or group of programmers under the pseudonym “Satoshi Nakamoto.” The network is a peer-to-peer electronic payment system that uses a cryptocurrency called bitcoin (lower case “b”) to transfer value over the internet or act as a store of value like gold and silver.
Each bitcoin is made up of 100 million satoshis (the smallest units of bitcoin), making individual bitcoin divisible up to eight decimal places.
That means anyone can purchase a fraction of a bitcoin with as little as one U.S. dollar.
Bitcoin price
Bitcoin’s price is renowned for being highly volatile, but despite that, it has become the top performing asset of any class (including stocks, commodities and bonds) over the past decade climbing a staggering 9,000,000% between 2010 and 2020.
When the cryptocurrency was launched at the beginning of 2009, as Satoshi Nakamoto mined the bitcoin genesis block (the first-ever block on the Bitcoin blockchain), 50 BTC entered circulation at a price of $0.00.
Fifty bitcoin continued to enter circulation every block (created once every 10 minutes) until the first halving event took place in November 2012 (see below).
Halvings refer to bitcoin’s issuance system, which was programmed into Bitcoin’s code by Satoshi Nakamoto.
It essentially involves automatically halving the number of new BTC entering circulation every 210,000 blocks.
Read the full topic at
Comments
Post a Comment