Have you ever paid $60 million for pizza?
However, another editor in Florida has.
You will learn the basics of cryptocurrency, its history, and how cryptocurrency prices are determined.
What about these guys?
Welcome to the new series on cryptocurrency.
The first episode will be about the basics of cryptocurrencies.
The basics of cryptocurrency, the history of Bitcoin, how the price is determined, and the summary.
Let's get started!
Bitcoin was the first cryptocurrency to be split, and Satoshi Nakamoto created it.
It is online money that you can buy, sell, and exchange for a variety of things around the world.
There are over 1600 other cryptocurrencies besides Bitcoin, such as Litecoin, Ethereum, Ripple, and so on.
Comment below on your favorite cryptocurrency!
Part of the "crypto" comes from the way cryptocurrency, is protected, and part of the money comes from ... Well, the fact that it's money.
Cryptocurrencies are digital assets; there is no physical condition. Unlike virtual currency, cryptocurrencies are not issued by the government.
This means that there will be no inflation for cryptocurrencies because governments cannot print as much money as they wish.
If you do not know what inflation means - just saying that, you are losing your purchasing power.
Early Bird Finds Bitcoin
For example, if you have $10, you can buy one pizza for $10.
But because of inflation, the pizza will cost $11 next year.
This means you can no longer afford to buy it, so you lose your purchasing power.
Another reason for inflation is that the government can print dollars.
Many bills are printed all the time, weakening the value of the dollar.
The highest value of bitcoin ever created is 21 million, and according to the book "The First Bird Finds bitcoin" that amount is estimated to be mined by 2024.
So Bitcoin can’t just “print” continuously until it’s worth commenting.
But how are cryptocurrencies created?
Cryptocurrencies are created by mines.
No, it is not gold mining with pickaxes, a system that considers creating currency and protecting transactions.
To put it succinctly, a blockchain document that traces every transaction that took place in the history of cryptocurrency.
The transaction group that took place ten minutes ago is called a block, in which bitcoin miners "mine" not using their pickaxes but their computing power.
The mine protects the block, which prevents fraudulent transactions.
But why would anyone use his computer power to protect these blocks?
However, validating these blocks can give you money, like bitcoins, as a reward.
I will talk more about blockchain in the next video, so all about it for now.
But do you know how much is 12.5 bitcoins?
Although very rare, at the moment, one bitcoin costs $11,800, so 12.5 will be $147,500.
Did that make you sharpen your digital pickaxe already?
They are also stored in wallets like all other currencies, but instead of a regular wallet, you store them on your computer.
So your computer is your wallet.
This means that your cryptocurrency will not pick up the pack while you are on the road, only if you lose your computer.
Although cryptocurrencies are very secure, this does not mean that they are stable; the price is constantly changing, as you can see in this chart.
In a few hours, the price of Bitcoin has gone from $11,000 to $12,000.
This means that Bitcoin and other cryptocurrencies are very volatile, but more about the price later in this video; let’s first move on to the history of bitcoin, to get a better idea of how popular cryptocurrencies are.
Bitcoin as Pizza
As I mentioned earlier, Bitcoin was the first cryptocurrency developed by Satoshi Nakamoto.
No one knows who the creator Satoshi Nakamoto is.
It is not certain whether his real name or that name was coined.
The founder of Bitcoin was Hal Finney, unknown, but also unaware of who Satoshi Nakamoto is.
At least that's what he says.
In 2007, Satoshi Nakamoto began developing Bitcoin, and in 2009 the first block, also known as the Genesis block, was dug up.
Eleven days later, the first purchase was made to Satoshi Nakamoto in partnership with founder Hal Finney.
On February 22, 2010, Bitcoin began trading in the real world.
The organizer paid 10,000 bitcoins for two pizzas.
This day is known as Bitcoin Pizza Day.
I wonder if there was pineapple in those pizzas.
Comment below to get your opinion on pineapple and pizza!
However, let’s move on to the history of Bitcoin.
In July 2010, the price of bitcoin increased from $0.008 to $08.
Five days later, Bitcoin joined an exchange called.
Box, and it started a bit of the Bitcoin we know today.
Less than a month after joining Mt.
Box, Bitcoin was hacked, and 184 billion Bitcoins were created.
The problem has now been resolved, and the cap on Bitcoins has returned to 21,000,000.
Simplified Coinbase to trade bitcoins.
In 2012 the Bitcoin bank was re-listed as the official European bank.
In early 2013 the first Bitcoin ATM was launched.
Now, the price of one bitcoin is already over $130.
The price dropped temporarily because the FBI shut down the black crime market that used Bitcoin.
After all, Bitcoin hides your identity.
By the end of 2013, the price had reached $503.
The day after the Senate meeting on Bitcoin, the price rose to more than $1,200.
Cryptocurrencies And Not Related To Gold.
On February 23, 2017, Bitcoin reached its highest level.
One bitcoin costs $19,891.
So imagine if you bought bitcoin for $1 back there for $0.008.
You can buy 125 Bitcoins.
And if you could sell that high price all the time, your one dollar would now cost $3 million.
Good! I could not afford to buy that 60 million pizza. So what is the price of cryptocurrencies
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