Photo by Kanchanara on Unsplash

What is Bitcoin (Categories/Type of Cryptocurrency)

• You probably wondering why Bitcoin has it’s own categories. Well let’s just say that this crypto is kinda special.
• Bitcoin is the first cryptocurrency that was first introduced to the public and it’s was the blueprint for cryptocurrency that we know today.
• Bitcoin was invented in 2008 by unknown entity under the name Satoshi Nakamoto.
• It was released in 2009 to the public to buy and the first transaction for Bitcoin also made by it’s founder in the same year
• The first real world transactions that was made using Bitcoin happened in 22 of May 2010 where Lazslo Hanyecz paid Jeremy Sturdivant 10,000 bitcoins (BTC) for two Papa John’s pizzas which were delivered to Hanyecz’s home
• Bitcoin surpassed the 1 U.S. dollar mark in 2011 and it hit it’s all time high in November 2021 by reaching 65,000 U.S. dollar.
• Bitcoin price usually peak 4–9 month after Bitcoin halving happen in every 4 years since it releases
• The ‘mining’ feature on Bitcoin is one of the most well known feature among the crypto investor. Mining basically mean you help the blockchain to approve transactions by solving some complicated math problems using computer power. Usually, a serious Bitcoin miner will buy a ton of graffic card for their PC to mine Bitcoin
• Bitcoin mining consumes a lot of power and if you do it from your home, be ready to get a hefty amount of electricity bill
• The amount of power that was consume during Bitcoin mining has cause a lot of controversy because of climate change issue
• I’m not really a fan of Bitcoin because the way I see it’s utility and how high the payment needed by doing transactions using it but in my opinion crypto will not exist without Bitcoin
• I will write a 6–10 part for a special article about Bitcoin in the future to explain all of this in a more detailed manner

Referral and Affiliates Link

-NordVPN

They offer a great way for us to use the internet in a safer and better way. Click here if your guys are interested in their service.

-Surfshark
Provide 3 different services involving protecting your privacy and data. They also provide services to protect your device from malware. Click Surfshark VPN, Incogni, or Surfshark Antivirus if your guys are interested in using their service.

-CoinLedger

The number 1 Crypto Tax Platform for trader and investor. Click here if your guys are interested in Coinledger service and use my PromoCode CRYPTOTAX10.

(DISCLOSURE: THIS ARTICLE CONTAIN AFFILIATE LINKS AND REFFERAL LINKS THAT WILL DIRECT YOU TO A CERTAIN PRODUCT)