A Guide to Bitcoin and Cryptocurrencies

Bitcoin is arguably the most famous example of a cryptocurrency and this digital payment system was first introduced in 2008, by an anonymous programmer or group of programmers. The secrecy surrounding its origins add to the Bitcoin’s appeal and it boasts the biggest market value in the relatively new sector of digital currencies. The current tech-bubble that seemingly dominates most of the world has brought with it an incessant need to transform everything into a digital form – including money.
So, what exactly is Bitcoin and what is its main purpose?
Bitcoin is a hugely valuable cryptocurrency that has been proclaimed dead more times than Hugh Heffner and luckily for its founder – whoever it may be – it has bragged the same rebuttal to death that the Playboy forefather has. In the early days after its release, there was a lot of excitement about Bitcoin and this hype-cycle has come full circle as it is now experiencing some problems, leading to many questioning its use. Despite this, it is the most valuable cryptocurrency in the world and it is hoped that these growing pains that are experienced by many new technologies will be overcome.

This post was published at Bitcoinist on 2016/10/05.