The modern world is unlike anything we have seen before. Everything is going digital and currency is no different. Bitcoin, a cryptocurrency was created by Satoshi Nakamoto in 2009. Many cryptocurrencies exist out there and many of them have failed such as the infamous BITCONNECT!!!! However, bitcoin is here to stay and here’s how you can be involved. The first step is to know what bitcoin dice is.
Bitcoin is a decentralized digital currency which means it has no central bank or administrator to control it. It is sent from peer to peer without any intermediaries. The BTC price is the price of bitcoin with respect to thosevarious real-world currencies. Over the years, the value of 1 bitcoin dice has varied. It keeps changing and therefore gives opportunities to more people to invest in it.
What’s a Bitcoin Worth
The price of Bitcoin is variable with every passing year.
- In 2017, it’s price rose from $1000 to approximately $19,000, more than 1,400% higher.
- In 2019, the price hovered around $3500 from the months of January to May, while June and July were relatively higher prices peaked at over $13,000. In October 2019, the Bitcoin price range was $8,000 to $ 9,000.
Every year the prices might show a drastic difference or might just be of a brief difference with the slightest change. Bitcoin’s price is very much dependent on the mining network size. The larger the network, the more difficult it gets to produce new bitcoins. Also, the process becomes quite costly. So, in order to maintain the equilibrium, the price of bitcoin must increase with the increase in the production cost.
You are probably asking why you should use bitcoinand how it is beneficial to you. Well firstly, bitcoin offers an efficient means of money transfer through the internet. It is also controlled by a decentralized network and has a transparent set of rules. Secondly, it is a good alternative to traditional banking and central bank controlled money. Bitcoin transactions are discrete and do not reveal the identity of the individual. Finally, bitcoin transactions are tax-free. Since it is decentralized, third party interruptions have no chance of keeping track of the transactions made. In conclusion, bitcoin can be the key to success and also the stepping stone for you towards financial security.