Ten years after its foundation, the fantastic success of Bitcoin – 20/08/2018

Incorporated more than 16 000 € last December, the cryptocurrency is now 5 620 € / Photo DR

Incorporated more than 16 000 € last December, the cryptocurrency is now 5 620 € / Photo DR

The most famous cryptocurrency celebrates 10 years. Escaping from the authority of states and central banks, Bitcoin is gaining more and more supporters. Back to the reasons for the success.

Bitcoin blows his tenth candle! On August 19, 2008, a certain Satoshi Nakamoto reserves the domain name bitcoin.org. The successful cryptocurrency then takes the first steps.

A few months later, on January 3, 2009, the first bitcoin was made.

Real payment system, Bitcoin, however, escapes the traditional channels of finance.

Transactions are managed jointly by the global computer network.

All transactions between the different users are displayed in a large computer register called the "blockchain".

With every transaction, this digital accounts book is updated. The blockchain is anonymous and, above all, non-forfeited. To date, all cryptocurrencies use this system.

In ten years, Bitcoin has become the most powerful cryptocurrency in the world, with 13 million users and streams estimated at $ 5 billion per day. A success that gave him access to the Chicago Stock Exchange in 2017.

A fickle currency

Since its inception, the value of Bitcoin has grown exponentially. Between 2012 and 2017 it was multiplied by 1,500.

2017 was a particularly good year for cryptocurrency. Bitcoin went from € 950 on January 1 to more than € 16,000 on December 15 of the same year.

A record of € 16,323 was set on December 17, 2017, before the currency fell to € 10,000 on December 22nd. Today the value is € 5,620.

Bitcoin therefore remains primarily a speculative tool for most users, due to the highly volatile aspect.

However, the inflation risk of this currency remains low. Indeed, the maker has written a maximum of 21 million Bitcoins in the code of his software. A limit that prevents the printing of money.

Currently nearly 16.8 million Bitcoins are in circulation.

The supporters of Bitcoin see the benefits of the liberation of banks and large companies, especially in these virtual currencies. Because Bitcoin, unlike real currency, such as the euro or the dollar, is not managed by a central bank.

The cryptographic currency is therefore a spectacular success in areas heavily affected by inflation and restrictions on foreign currency purchases, such as Latin America.

Some economists, such as the Nobel economist Jean Tirole, however, criticize Bitcoin for a legal framework that is too opaque and favors fraud and tax evasion.

Although virtual and uncontrolled, Bitcoin is still starting to invest the real world. The 2nd arrondissement of Paris houses the Coinhouse, the only exchange office in Paris that sells or receives Bitcoins.

False banknotes against bitcoins

A Serb was detained on suspicion of having tricked a South Korean to deliver counterfeit banknotes for a value of € 2 million in bitcoins at a large hotel in Nice. He was arrested on August 13 at a hotel in Cannes, where he rode great, drove a luxury car and wore a watch of more than € 100,000.

The victim is a South Korean businessman with a bitcoin company based in Singapore. He filed a complaint on 30 July after realizing that the two million € were only facsimile € 500 bills.

Source link

Leave a Reply