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As new investors continue to invest and the market cap grows, Bitcoins price could be stable.Lack of adoption by businesses. The cost volatility is a large reason that many businesses have yet to adopt Bitcoin as a type of payment. Increased consumer adoption and price stability will eventually mitigate this disadvantage.Another disadvantage is that while many individuals have heard of Bitcoin, few understand exactly what it is or how it functions.

The more people spread the word and grow the Bitcoin community, the better off our bitcoins will be.How to Purchase BitcoinAs mentioned above, in the early years of Bitcoin it was difficult to find a trustworthy place to Purchase the cryptocurrency.   With the increase in demand for Bitcoin, numerous new companies have sprouted to help facilitate readily purchasing Bitcoin.These days, many Bitcoin exchanges have obtained huge investments from venture capitalists.

You can compare exchanges and view our in-depth reviews in our How to Buy Bitcoin Guide.   Weve also listed our best two recommended options below:Coinbase launched in 2012 with the hopes of giving users an easier way to buy Bitcoin.   Since its launch, the San Francisco based startup is now the most commonly recommended buying option for newbies.

While they launched more recently than many of their opponents, the New York-based cryptocurrency exchange has quickly built a Fantastic reputation in the crypto community.   You can learn more in our Gemini Review and Users Guide.Who invented BitcoinSatoshi Nakamoto is credited with designing Bitcoin. Nakamoto asserts to be a man living in Japan born on April 5th, 1975 however there are speculations that he is actually an individual developer or group of programmers with a penchant for computer science and cryptography scattered around the United States or even Europe.Nakamoto is believed to have generated the first blockchain database and has been the first to fix the dual spending problem other digital currency failed to.

A value of 100 is peak popularity.Google Trends constructions the chart to represent a relative hunt interest to the greatest points in the graph. A value of 100 is the summit popularity for the word Bitcoin and a value of 50 means that it was half as popular at that time.

Its amazing how the searches relating to Bitcoin have spiked in recent years.When Bitcoin began circulating in 2009, its early adopters consisted of programmers and a niche crowd of technical men and women. Its prevalence over the years indicates that many of the disadvantages of Bitcoin will likely dissipate as Bitcoin becomes more standard.Unsurprisingly, Bitcoins cost has grown with increased demand.

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By gaining a large number of adopters and users, Bitcoin has achieved a network effect that brings even more users. Users who would otherwise be apprehensive investing in a relatively unknown and unproven digital currency are reassured by Bitcoins performance as time passes, its growing community, and also the simple fact that people they know are adopting cryptos.Bitcoins first mover advantage, popularity, and network effect have cemented it as the very popular cryptocurrency with the largest market cap. go to this website

Bitcoin can attract users greater than any other cryptocurrency becauseIt has the network impact. Bitcoins network supports its value to newcomers and gives Bitcoin a viral growth rate.The high market cap is comforting. Bitcoins enormous market cap gives users a sense of security and stability since its harder to manipulate and not as prone to extreme swings in cost.

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Many Bitcoin users are holding onto their bitcoins in hopes of selling them off to get an enormous profit one day. With news articles portraying Bitcoin millionaires as lucky children who got in early, you cant blame them. For instance, view it now if you'd spent your $5 latte money on 2,000 bitcoins one morning in 2010, then they would be worth roughly $5.4 million today.

When many individuals have flocked to cryptocurrencies purely in search of financial gain, there are a ton of people that are simply curious. Some individuals are sticking around and trying to understand what cryptos are about. Even though more users increase Bitcoins network impact, more individuals forming in-depth understandings of cryptos also strengthen the busy Bitcoin community.Final ThoughtsBitcoin remains a relatively young currency but it has achieved substantial user adoption and growth.

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Understanding Bitcoins potential is an essential first step to seeing the brilliant solutions being worked on in the cryptocurrency world.Bitcoin paints a future that is drastically different from the fiat-based planet today. This is either exciting or unsettling for the vast majority. Equip yourself with the best potential resources. Become active in communities that further explore not only the technical applications of Bitcoin and other cryptos but with their overall potential to disrupt virtually every market.