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As new investors continue to invest and the market cap develops, Bitcoins cost could become more stable.Lack of adoption by businesses. The price volatility is a huge reason that many businesses have yet to embrace Bitcoin as a form of payment. Increased consumer adoption and price stability will eventually mitigate this disadvantage.Another disadvantage is that while many people know of Bitcoin, few understand just 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 Buy BitcoinAs mentioned above, in the early years of Bitcoin it was difficult to find a trustworthy place to buy the cryptocurrency.   With the increase in demand for Bitcoin, numerous new companies have sprouted to help facilitate easily purchasing Bitcoin.These days, many Bitcoin exchanges have obtained huge investments from venture capitalists.

You can compare exchanges and see our in-depth reviews in our How to Purchase 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 Purchase 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 the competitors, the New York-based cryptocurrency exchange has quickly built a great 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 claims to be a man living in Japan born on April 5th, 1975 but there are speculations that he is actually an individual programmer or group of programmers with a penchant for computer science and cryptography scattered around the United States or Europe.Nakamoto is believed to have created the very first blockchain database and has been the first to fix the dual spending problem other electronic currency failed to.

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

Its amazing the way the hunts relating to Bitcoin have spiked in the past few years.When Bitcoin began circulating in 2009, its early adopters consisted try this out of developers and a niche crowd of technical people. Its prevalence over the years indicates that many of the disadvantages of Bitcoin will likely dissipate as Bitcoin becomes more standard.Unsurprisingly, Bitcoins price has grown with increased demand.

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By gaining a large number of adopters and consumers, Bitcoin has attained a network impact that attracts even more users. Users who would otherwise be apprehensive investing in a comparatively unknown and unproven digital currency have been reassured by Bitcoins performance as time passes, its growing community, and the simple fact that people they know are adopting cryptos.Bitcoins first mover advantage, popularity, and network effect have cemented it as the most popular cryptocurrency together with the greatest market cap.

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Bitcoin is able to attract users greater than any other cryptocurrency becauseIt gets the network effect. Bitcoins network validates its worth to newcomers and provides Bitcoin a viral growth rate.The high market cap is comforting. Bitcoins enormous market cap gives users a sense of safety and stability since its harder to manipulate and less prone to extreme swings in price.

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Many Bitcoin users are holding onto their bitcoins in hopes of selling them off for an enormous profit one day. With news articles portraying Bitcoin millionaires as lucky children who got in early, you cant really blame them. By way of example, if you had spent your $5 latte money on 2,000 bitcoins one morning in 2010, they would be worth roughly $5.4 million today.

While many people have flocked i was reading this into cryptocurrencies only in search of financial gain, there are a ton of people that are only interested. Some peoples are sticking around and trying to understand what cryptos are all about. Even though more consumers increase Bitcoins network impact, more people forming in-depth understandings of cryptos also strengthen the active Bitcoin community.Final ThoughtsBitcoin is still a comparatively young currency but it's attained 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 possible resources. Become active in communities which further research not only the technical applications of Bitcoin and other cryptos but with their general potential to interrupt virtually every economy.

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