Why Bitcoin Was Created
After the 2008 economic crash, people started to realize that the world’s financial systems are broken. The US dollar goes down in value every year. The centralized banking systems put people at the mercy of their high fees and antiquated processes. Trust in the systems of the world, be they political or financial, continue to be at an all-time low. When Satoshi Nakomoto released the now infamous Bitcoin whitepaper in October 2008, he proposed a new form of currency that couldbe decentralized, meaning no one had control over it, no banks or governments. It would be peer-to-peer, meaning anyone could send money quickly and easily without incurring ridiculous fees. It would be anonymous, meaning no one could stick their nose into your personal business. And it would be trustworthy, meaning the ledger created by the blockchain technology that Bitcoin was built on would be secure and without error.
How Bitcoin Works (Video)
Current Price of Bitcoin
How To Buy Bitcoin
Here are a few tips for purchasing Bitcoin.
- Bitcoin can be purchased on an online exchange. There are many exchanges, but the largest and most trusted exchange is Coinbase. On Coinbase you can purchase with a credit card or by linking your bank account.
- You do not have to buy a whole Bitcoin, you can buy part of a Bitcoin. Think of it in the context of a dollar bill, quarters, dimes, nickels and pennies. You can buy half a Bitcoin, .5, or .4, .3, .2,.1 etc. So if the price of one Bitcoin is at $10,000, buying .1 Bitcoin will cost you $1,000 USD.
- Note that when purchasing Bitcoin your purchase may take a few days to be processed, butyou will be locked into the price you bought the Bitcoin at. The delay in delivery is to prevent fraud.
Companies & Businesses that Accept Bitcoin
Below are some of the well known companies and businesses that accept Bitcoin as a form of payment. We are working on a full database where you can find small and local businesses that accept Bitcoin across the U.S.
- Virgin Galactic
- Dish Network
Companies who may potentially accept Bitcoin as a form ofpayment in 2018:
- British Airways
Bitcoin Price History
Here is a quick overview of the important price changes for Bitcoin.
- January 2009 - February 2010 : $0
- February 2011 - April 2011 : $1.00
- July 8th 2011 : $31
- April 11th 2013 : $266
- November 2013 : $350 - $1,242
- March 2nd & 3rd 2017 : $1,290
- May 2017 : $2,000
- May - June 2017 : $2,000-$3,200
- August 2017 : $4,400
- September 2017 : $5,000
- October 13th 2017 : $5,600
- October 21st 2017 : $6,180
- November 6th 2017 : $7300
- November 17th - 20th 2017 : $8,300
- November 25th 2017 - $8,700
- November 27th 2017 - $9,700
- November 28th 2017 - $10,000
- November 29th, 2017 - $11,500
- December 5th, 2017 - $12,000
- December 6th, 2017 - $13,000
- December 7th, 2018 - $17,000
- December 8th, 2017 - $18,000
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Disclaimer - The ThinkingCrypto.com website and Site Owner(s) are not financial or investment experts. You as an individual should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. Investing in cryptocurrencies carries a high risk due to the volatility of crypto market. This site is meant to be educational, not provide financial or investment advice.