Welcome to All About BTC, a blog about the rise and successes of bitcoin in modern day economy.
Crypto Value is a new blog that will be releasing frequent posts. The blog will focus on the current values of most popular cryptocurrencies and their differences in value. [Bitcoin](https://www.bitcoin.com) has been a major topic in the financial world for quite some time now. Bitcoin continues to rise in popularity, but there are many other cryptocurrencies that are on the rise as well.
Crypto Value will also be discussing the differences between cryptocurrencies, and why they have such high prices compared to others. A lot of people do not know how to invest into them or what it takes to earn from them. Crypto Value will be helping with these problems by giving step by step tutorials on how to start investing for beginners.
More about the author: Crypto Value is written by [Yousef Saleh](https://www.linkedin.com/in/yousef-saleh-bab4b4104/), a Computer Science student at [SUNY New Paltz](https://www.newpaltz.edu/). He has been keeping up with bitcoin and its growth since 2011, which was when he first learned about it. Yousef is knowledgeable in most areas of computer science and wants to make his knowledge
It is important to understand what bitcoin is and how it came to be. Bitcoin is a cryptocurrency and a digital payment system. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency. Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoin has been praised and criticized. Critics noted its use in illegal transactions, the large amount of electricity used by miners, price volatility, and thefts from exchanges. Some economists have criticized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
The unit of account of the bitcoin system is a bitcoin. Ticker symbols used to represent bitcoin are BTC and XBT.
Bitcoin has been in the news a lot. Since it started to gain widespread adoption, it has also become a target for various groups of people who have doubted its value and even its existence. The most recent news is that the US government has seized $3 million worth of bitcoins from former Silk Road administrators.
This is actually quite surprising given that the US government has previously said that they are not interested in seizing bitcoins. Yes, they have spent time trying to shut down the Silk Road and arrest its administrators, but they have not tried to seize any of their assets before. Now, this could be because some of the Silk Road administrators were not as smart as Dread Pirate Roberts at hiding their assets, but it could also be because the US government does not consider bitcoin a legitimate currency like gold or silver.
Regardless, it is clear that there is an ongoing debate about whether or not bitcoin should be considered a legitimate currency. A lot of people are saying no, because bitcoin isn’t backed by any kind of legal authority and it doesn’t have a fixed value like traditional currencies do. But there are many more people who are saying yes, because bitcoin offers a lot more benefits than traditional currencies do.
Cryptocurrency has been around for some time now. Bitcoin, for example, was created in 2009 and is still going strong. The question is: what does cryptocurrency really mean?
Cryptocurrency is an independent currency that operates on a decentralized peer-to-peer network. In other words, a cryptocurrency like Bitcoin is not controlled by any single entity or organization. For example, the US dollar is controlled by the US Treasury and the Federal Reserve System. Fiat currencies are also centralized and their supply is defined and limited by the government of that currency’s country of origin.
What makes cryptocurrency special are its security features. Cryptocurrency uses cryptography to secure and verify transactions. It also uses cryptography to control the creation of new units of a particular cryptocurrency.
Crypto value by year:
* 2009 – $0
* 2010 – $0.0025
* 2011 – $1.00
* 2012 – $7.00
* 2013 – $1000
* 2014 – $400
* 2015 – $300
Briefly, it is a completely decentralized digital currency which uses cryptography to secure all transactions and control the creation of new coins.
Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software in 2009 by pseudonymous developer Satoshi Nakamoto. It is a cryptocurrency, so-called because it uses cryptography to control the creation and transfer of money.
Conventional currency has been based on gold or silver. Theoretically, you knew that if you handed over a dollar at the bank, you could get some gold back (although this didn’t actually work in practice). But bitcoin isn’t based on gold; it’s based on mathematics. Around the world, people are using software programs that follow a mathematical formula to produce bitcoins. The mathematical formula is freely available, so that anyone can check it.
The software runs on thousands of machines across the globe, but it can be changed only by consensus between users. When new bitcoins are created they are issued to the machines doing the calculations. These machines are called “bitcoin miners”. They keep track of who has how many bitcoins, and make sure that bitcoins aren’t double spent – that no one spends the same bitcoin twice. The network is designed so that each block of transactions takes about ten minutes
Bitcoin has been in the news lately, from investors looking to expand their portfolios with this new type of asset to people wanting to learn more about this new form of currency.
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros. They’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
It’s the first example of a growing category of money known as cryptocurrency.
What makes it different from normal currencies?
Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally. But it differs from fiat digital currencies in several important ways:
1)Decentralization: Bitcoins are completely virtual coins designed to be “self-contained” for their value, with no need for banks to move and store the money. Once you own bitcoins, they possess value and trade just as if they were nuggets of gold in your pocket. You can use your bitcoins to purchase goods and services online, or you can tuck them away and hope that their value increases over the years.
2)Bitcoin transactions are irreversible and immune to fraudulent charge