Bitcoin Course

Bitcoin Course
Bitcoin Course_ From Creation To Current Position
Bitcoin is a virtual currency created by the pseudonymous Satoshi Nakamoto. The idea-on-paper was published in 2008 and the open-source software came into effect in the year 2009. The Unicode character ₿ is used to represent bitcoin. The stock symbols used to denote it are BTC and XBT.
BTC enables you to transfer funds without going through a bank. It uses basic cryptography principles and encryption techniques to enable the secure transaction of funds. It is beneficial in many ways. It completes the money transfer process without the involvement of a bank. The original intention of its creation is to facilitate a more rapid way of making payments. Later on, it started becoming an investment opportunity.
Despite its many uses, some shops still refuse to accept bitcoin payments and some countries have not even legalized it yet.

Bitcoin Course Year 2008

In Bitcoin Course year 2008, the registration of bitcoin in the World Wide Web was done. The listed domain name was bitcoin.org. By the month of October, the research paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” under the name Satoshi Nakamoto was published. The identity of Nakamoto was mysterious.

Bitcoin Course Year 2009

In Bitcoin Course year 2009 in January, the official open-source software came into existence. The first batch of BTC was issued and the first block of bitcoins known as the genesis block was mined. There was a reward of 50 BTC in the genesis block. By that time, the worth of bitcoins was questionable. This was the major flaw which was exploited before it became worse.
By the end of 2009, there was an upgrade to the initial version and bitcoin v0.2 was launched.

Bitcoin Course Year 2010

In Bitcoin course year 2010 in February, the first cryptocurrency stock exchange, BitcoinMarket came into existence. The first online transaction using bitcoin was done to pay for two pizzas. 10,000 BTC was used for this purchase at Papa John’s. The value of 1 BTC came to about 0.0025 cents.
July of 2010 saw a significant increase in the number of users of bitcoin. The china-based cryptocurrency exchange was inaugurated. During the middle of October, the value per bitcoin began to escalate for no apparent reason. In December, the first block was generated by the mining process.

Bitcoin Course Year 2011

Bitcoin begins to face a little competition. Other cryptocurrencies began to surface influenced by the open-source coding of bitcoin. At the beginning of the year, the largest value of BTC was transferred from Zimbabwe in Z$.
Surprisingly, a used Porsche was put on sale for an exchange of 30,000 BTC. By mid-June, some popular organizations, like WikiLeaks and so on started accepting bitcoins for donations. The first cryptocurrency conference in Europe took place during November in Prague.

Bitcoin Course Year 2012

The beginning of the year seemed a little rocky with 50,000 BTC being stolen. It is the highest recorded bitcoin theft to date. But, another benchmark was reached by the digital asset by creating the biggest block in the chain with 1,322 transactions.  In October, there was evidence stating that 1,000 traders accepting bitcoin payments. The popular Content Management System Company WordPress also started accepting bitcoins.

Bitcoin Course Year 2013

Transactions went beyond 10,000. Bitcoin payment processor Coinbase reported sales of one million USD worth of bitcoins. The company also expressed its interest in providing a portion of their employee salary in bitcoin currency. March of 2013 faced a very important milestone in the cryptocurrency world. The blockchain system, which is the ledger for all BTC transactions split into two (temporarily), with different rules for how it recorded the transactions. In April, 1 BTC = 100 USD
By the end of Bitcoin course year 2013, the Chinese central bank prohibited the transfer of funds through bitcoins. This dropped the value of BTC considerably. This cryptocurrency ban was followed by Norway also.

Bitcoin Course Year 2014

A documentary titled “The Rise and Rise of Bitcoin” was released. The popularity of the digital asset was developing by the minute. By the end of the year, even Microsoft started to recognize BTC payments for the purchase of Xbox games.

Bitcoin Course Year 2015-2018

There were so many ups and downs during bitcoin course year 2015,2016,2017. In a nutshell, theft of currency in the hot storage increased, so many money laundering cases unfurled, but by the end of Dec 2017, BTC value touched it’s highest. It flared up to $19000. For people who assumed that BTC would appreciate, 2018 proved them wrong. There were sudden downfalls in the value, disappointing many users and investors especially. To protect investors fraud, many entities banned advertisements promoting cryptocurrencies. By November, the value fell below $4000.

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HOW IT WORKS:
There are many controversies to the functioning of bitcoin. Probably the reason is its complexity to understand. The working process of bitcoin, though it may look easy today, by the time it released seemed to confuse almost everyone. This is how it works. You can easily download the software on to your PC or cell phone. A unique ID is generated to your name once you sign up. That address would be your personal ID for all future transactions in BTC. All the bitcoins you purchase is stored in digital wallets. That is, it gets stored on your computer’s hardware, thus preventing misuse or theft. You may use your bitcoins to pay for a purchase that you make if the retailer accepts them. It is not possible to manipulate bitcoin transactions because it goes through a series of authentication and approval before the transfer is actually effected. You can keep track of your transactions using the “blockchain”, which is a public ledger of the BTC software.

One main threat that trading in bitcoin posits is that the loss of your hard drive could lead to loss of all the bitcoins you possess. If you are keeping in a cloud-based database system, you can always retrieve it in case of a hard drive failure. But there is another catch. Clouds can be hacked, passwords can be stolen. It is indeed true what people say – ‘Everything has a flip side to it’.