History of bitcoin

Bitcoin is the first digital currency to be created and synced into the blockchain network. 

Bitcoin is a decentralized digital currency, without a central bank or single administrator that can be sent from user to user on the peer to peer bitcoin network without the need for intermediaries.Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.Research produced by the University of Cambridge estimated that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

Bitcoin has been criticized for its use in illegal transactions, the large amount of electricity used by miners, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as an imaginary creation that can get to lime light at various times. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.

Today, one Bitcoin is worth over $30,000 compared to it's initial value in 2009.

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