On October 31, 2008 was born bitcoin, the first decentralized virtual currency. Ten years later, the main cryptocurrency nourishes a complex ecosystem but is still struggling to convince in the economic sphere.
From its first evocation in 2008, bitcoin carries a political vision.
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Appeared in a white paper written by Satoshi Nakamoto, a pseudonym whose identity behind remains unknown, the stated goal is to use a decentralized registry system, the “blockchain”, to “make online payments directly from a third party to another without going through a financial institution “.
This ambition is then fueled by the bankruptcy of the Lehman Brothers bank, which took place a month earlier, which has discredited the “traditional currencies where small elite of bankers enriches a lot, establishes the monetary rules and imposes them on everything in the world, it was stated by whom, who founded the first European bitcoin exchange platform in 2011. If you have more queries about the same, you can visit https://www.amarkets.com/forex-webinars/faq/?block=trading-platforms-faq now.
After its creation, bitcoin evolves for several years off the radar of the general public, only interested in geeks or money launderers.
In 2013, bitcoin, which was virtually worthless at first, however, exceeds $ 1,000 and begins to attract the attention of financial institutions. “The European Central Bank evokes a dangerous operation on the Ponzi”, when the then boss of the Federal Reserve, Ben Bernanke, salutes his potential.
A turbulent childhood
A few months later, however, the cryptocurrency must face its greatest crisis with the hacking of the MtGox platform, where up to 80% of bitcoins in circulation traded. The price collapses and it will be necessary to wait more than three years before it returns to its level of end 2013.
The total capitalization of bitcoin temporarily exceeds $ 300 billion, according to the specialized site Coinmarketcap. That of all cryptocurrency even exceeds 800 billion in early January 2018, before the bubble burst and gradually reduces the value of bitcoin around 6,400 dollars.
The age of Reason?
If the original idea was to make bitcoin a means of exchange, the maximum number of observers distinguishes that it use to be used mainly as a store of price or speculation instrument, because of its volatility.
It takes 20 years for a network technology of this type to take its place completely, justified by the founder, who is banking on the advent of “lightning” to increase the speed of transactions, while the network is today. He is able to handle five to ten transactions per second (against several thousand for the Visa card operator).
In recent months, the cryptosphere has also been shaken by the possible creation of an index fund backed by bitcoins, which would boost investments. A highly anticipated announcement is expected shortly from the US Securities and Exchange Commission.