Bitcoin was invented by Satoshi Nakamoto in the year 2008 and then it was released as open-source software at the beginning of 2009. The first real-world transaction took place in 2010 when a bitcoin miner brought two pizzas from Papa John’s for 10,000 bitcoins in Florida. At present, the btc price keeps on varying.
The currency is basically based upon a blockchain that consists of a public ledger of around all the transactions in the bitcoin network. Those people who are taking part in the currency can mine for bitcoins by using computer power. Initially, the interest in the currency was small, basically among the cryptographers and those people who are seeking to get engaged in transactions that could not easily be traced.
With the passage of time, the currency achieved wider exposure. More retailers were opened up to use bitcoin in 2012 as well as in 2013. However, after this, the federal authorities shut down the silk road website which was utilizing each btc price for the black market transactions in the year 2013.
The famous Mt. Gox bitcoin exchange also went under in 2014. Originally, it was started as a site for trading some game cards, eventually, it evolved into a marketplace for bitcoins. As of may 2013 around 150,000 bitcoins were traded in the exchange per day. but some of the accusations of being fraud surrounded the exchange when finally, it closed in 2014. This exchange lost approx. 850,000 bitcoins, despite some of them, have since been found already.
Bitcoins are now traded on numerous non-centralized independent exchanges, like Coin base. This currency can also be brought as well as sold through different broker-dealers. There may be some differences between the various exchanges, that could lead to arbitrage opportunities among the various exchanges.
