How much money you’d have if you spent $100 on Bitcoin in

Bitcoin: The Rise and Fall or There and Back Again

(A long-winded history of Bitcoin's journey towards its prominense)
A great deal of things that are common place today used to be basically unthinkable. Unified cryptographic currency was devised by sci-fi and cyberpunk authors in the XX century ("Credits" in various sci-fi and cyberpunk novels). That being said,the first protocol of “digital money” was proposed by two cryptography scientists, David Chaum and Stefan Brands, in 1982, and Wei Dai described “b-money” in 1998.
As recently as 2008 the mythical Satoshi Nakamoto published the operation principle of his payment system. He created the working client code in 2009, and this makes Bitcoin only 8 years old. At first hardly anyone believed in it. Now there are over 9000! — actually over 300,000 — transactions daily!
There…
Bitcoin is famous for its striking highs and shattering lows. We could calculate its first exchange rate: In September 2009 one Martti Malmi sent to a recipient 5,050 bitcoins for 5,02 US dollars, which he got via PayPal. Thus, one dollar was equal to 1,006 bitcoins, well, or 1 BTC was equal to 0,000994 US dollar! It looks like there are too many zeros after the decimal point, such small values are way to difficult to comprehend... So, was it approximately one tenth of one cent? :-D
…and Back Again
Imagine the torment of one American guy, who paid ฿10,000for two pizzas in May 2010. In today's money they worth $80,000,000. One slice of pizza costs $5,000,000. The closest contender for the title of the most expensive pizza — Louis XIII — comes at a measly sum of $12,000!
Even more hard cheese got on the plate of James Howells — our next exhibit: In 2013 he rushed to the city landfill for his laptop as he remembered that had had there his HDD with the private key to his wallet of 7,500 bitcoins! He had mined it on his laptop in early 2009. In 2013 it cost approximately $7,500,000; this handy sum motivated him to lead an unsuccessful excavation expedition to the landfill site. In 2017 there is $60,000,000 at stake, and I bet that in 10–20 years' time some rich nob is going to buy out the whole landfill and we will see the dirtiest dig for the filthiest amount of bitcoins!
A trip down memory lane
Well, let us have our dig and unearth Bitcoin's highs and lows for the first 8 years of its life. On the day of creation, i.e.
05.10.2009
official exchange rate was the following: $1 = ฿1,309,03 (so ฿1 = $0,00076). Back at that time there was no need in satoshi (one-hundred-millionth of a bitcoin); mining was hardly worth the wear and tear of hardware and electricity bills...
Mid 2010:
$0.08 = ฿1
Late 2010:
$0.5 = ฿1
2011:
09.02.2011:
$1 = ฿1
02.06.2011:
$10 = ฿1
09.06.2011:
$31.91 = ฿1
12 June 2011 — a steep decline to $10.
Late 2011:
$10 = ฿1
2012—relative stability in the $8–14 band for ฿1
2013:
28.02.2013
$31.91 = ฿1
22.03.2013 — a noticeable growth:
$74.90 = ฿1
10.04.2013 — another noticeable growth:
$266 = ฿1
02.10.2013 — a steep decline to:
$109.71 = ฿1
06.11.2013 — a rapid rise to:
$269 = ฿1
17.11.2013 — another rapid rise to:
$503.1 = ฿1
Late November 2013: another rise to $1,242 for ฿1!
Then Bitcoin became really jerky:
02.12.2013 — a steep decline to $1,000 for ฿1,
17.12.2013 — a two-fold decline to less than $600 for ฿1!
2014:
was one of the most unsuccessful years for Bitcoin — it had been on decline nearly all year... The only rise it had all year fell on 1–5 January when Bitcoin rose from $770 to $950, and then, in early February, it fell back to 700 greenbacks. And that was just a beginning of the steady decline — by the end of December, it lost the foothold and fell as low as $310, that is, three times its highest (at that time) rate!
2015:
Bitcoin is still jerky: In mid-January, the rate had reached a new low of $177. However by 3 March it gradually rose to $281. The growth continued until October 2017 and exceeded $500, but went down a little bit in December to the $355–380 band. On December 16, 2015, Bitcoin's exchange rate grew to $455.99, and then sagged again.
2016:
Bitcoin exchange rate chart looks quite steady: It started with $500 in January; by 15 June it reached $768, then went down a bit, then continued its growth to a grand for one BTC!
2017:
is phenomenally good for Bitcoin. But itsvolatilityhas been shown in all its glory! Judge for yourself:
02.01.2017 ฿1 = $1,017
12.01.2017 ฿1 = $810
04.03.2017 ฿1 = $1,264
11.05.2017 ฿1 = $1,819
24.05.2017 ฿1 = $2,445
27.05.2017 ฿1 = $2,052
11.06.2017 ฿1 = $2,973
15.06.2017 ฿1 = $2,442
20.06.2017 ฿1 = $2,754
16.07.2017 ฿1 = $1,914
20.07.2017 ฿1 = $2,866
26.07.2017 ฿1 = $2,559
14.08.2017 ฿1 = $4,327
21.08.2017 ฿1 = $4,005
01.09.2017 ฿1 = $4,921
14.09.2017 ฿1 = $3,243
18.09.2017 ฿1 = $4,100
22.09.2017 ฿1 = $3,617
20.10.2017 ฿1 = $5,993
24.10.2017 ฿1 = $5,513
08.11.2017 ฿1 = $7,444
12.11.2017 ฿1 = $5,848
17.11.2017 ฿1 = $8,040
And, as analysts has predicted, Bitcoin will easily take the next milestone — $10,000 — at the end of this year or in the beginning of the next one! So, no matter how jerky Bitcoin is a lot of people would like to take a bite out of its crypto-yumminess! Those who have passed on that treat will bite their nails later. Even if you want to buy, say, a giant rubber duck.
In a few years you can buy MANY — due to the enormous growth of Bitcoin!
Author: Dickinson-Junior
submitted by Dickinson-Junior to Bitcoin [link] [comments]

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This month marks ten years since the bitcoin.org domain was registered. Bitcoin.org was originally registered and closely-held by Bitcoin’s 1st two developers, Satoshi Nakamoto, and Martti Malmi. Bitcoin, the world’s 1st cryptocurrency is at the forefront of a complex financial set-up viewed warily by markets and investors. October 31, 2008, marked the birth of bitcoin. Bitcoin didn’t If the majority of people lose faith in Bitcoin and start selling it, the price will drop. The first time Bitcoin actually gained value was on October 12, 2009, when Martti Malmi, a Finnish developer that helped Satoshi work on Bitcoin, sold 5050 Bitcoins for $5.02. This gave 1 Bitcoin the value of $0.0009. The first time Bitcoin actually gained value was on October 12, 2009 when Martti Malmi, a Finnish developer that helped Satoshi work on Bitcoin, sold 5050 Bitcoins for $5.02. This gave 1 Bitcoin the value of $0.0009. Martti Malmi, a software developer from Finland, sends 5,050 bitcoins for $5.02 to NewLibertyStandard, one of the regulars in a bitcoin forum. The transaction is realized using PayPal. Later in 2009, Martti Malmi a.k.a. Sirius, a software developer from Finland, sold 5,050 BTC for just $5,02 to NewLibertyStandard. After that in 2010, when Bitcoin reached some monetary value, people tried to buy Pizzas with it, and this was the first official record of Bitcoin being used to buy goods and services. On 22 May 2010,

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