Bitcoin forecasts. What has come true?
The beginning of bitcoin history was laid in 2008 when the first publication of issues about cryptocurrency appeared on the Internet. The newsletter contained a message about the start of a new concept of the electronic money functioning, which went beyond the scope of traditional control and identification of users. In the same year, the official site, as well as the project itself, was launched.
History of bitcoin mining and exchange. The establishment
The first steps of the well-known cryptocurrency were not so extensive. The generation of new chains didn’t cause much enthusiasm among users and the bitcoin exchange rate history was poor. Interest was fueled by the possibility of anonymous transactions between the owners of wallets. Some analysts claim the anonymity was the main reason for the eruption of cryptocurrency. In 2009, for the first time, the cost of bitcoin was calculated as the total value of expenses for classical mining.
2010 forecasts were based more on the technical capabilities of the blockchain platform. With the appearance of the first official exchange office in February, the public opinion turned towards the currency with "great opportunities". Indeed, permanent updates of the platform fully justified the promises. The function of the system has been improved, the speed of transfers increased. There was an idea of creating a unique algorithm for the guaranteed support of trade transactions. All of this logically led to the establishment of the bitcoin to USD rate at around 0.006.
The notorious case of Mt. Gox in 2011
The activity of bitcoin users increased in 2011 with the confirmation of the opening of the eminent Mt. Gox exchange. The project manager was Jed McCaleb. The first results of the trading platform were not long in coming: thousands of users joined the project, bitcoin capitalization reached 200 million US dollars.
With the growth of the bitcoin stock price, the interest of the hackers increased. Bitcoin was tested for strength and didn’t pass it. All users were assured of exceptional security, and that was the reason for the numerous thefts of money from wallets of investors and from trade exchanges accounts.
The tension raised in the world of cryptocurrency. Most of the analysts predicted the dissolution of the cryptocurrency. The developers were at a loss because bitcoin was not only threatened by possible interference, but also a complete abandonment for commercial purposes. Anyway, the truth stood by the right of the cryptocurrency. The nearest future showed the possibility to roll back all illegal appropriations and save the reputation.
The government interferences. Is bitcoin legal or illegal?
Forecasts of the financial market analysts for 2013-2014 really differed. Some researchers predicted a sharp increase in the bitcoin value in USD. Another group of strategists in their forecasts based on serious concerns of state structures in several countries.
The serious growth of the cryptocurrency and its anonymity was a serious reason for fiscal policy close attention. A number of countries hastened to introduce administrative prohibitions on the bitcoin operations on their territory. Anyway, it didn’t affect the results as strongly as some proclaimed. Bitcoin is a network currency, the development of which depends on the number of active users.
Government offices started changing their minds. Forecasts for 2015 made by eminent analysts were supplemented with official statements by a number of states on the introduction of blockchain technologies. The tasks which bitcoin faces today and in the future are the readiness to integrate with existing payment systems. A lot of work is done already. The paradigm shifted and the future is already here.
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