Bitcoin explained: Its history, why is is bitcoin mining worth it in 2015 so valuable, and will the bubble burst? 10,000, 2017 has seen this cryptocurrency go stratospheric.
This looks far from being a digital fad, and many who invested several years ago are on the brink of being millionaires. So here’s a quick guide to the currency, why it’s all the rage, and whether the bitcoin bubble will burst. Bitcoin first went online in 2009 as open-source technology, invented by a mysterious, anonymous individual going by the pseudonym Satoshi Nakamoto. It’s a digital currency, used to pay for items online without any additional bank charges, or government control. Companies and people can buy or sell items using bitcoin as payment. A maximum 21 million bitcoins can be created.
As of June 1 2017, there were 16,366,275 in circulation. It is expected to hit 21 million by 2140. Its price can be followed here. 500-1000 mark for the next four years. In 2017, Bitcoin’s situation changed significantly. Its price had doubled by May, and again by August.