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

The more we spread the word and expand 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 reliable place to Purchase 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 view 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 buy Bitcoin.   Since its launch, the San Francisco based startup has become 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 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 claims to be a man living in Japan born on April 5th, 1975 but there are speculations that he's actually an individual programmer 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 very first blockchain database and has been the first to fix the double 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 highest points in the graph. A value of 100 is the peak popularity for the word Bitcoin and a value of 50 means it had been half as hot at that time.

Its amazing the way the searches relating to Bitcoin have spiked in recent years.When Bitcoin began circulating in 2009, its early adopters consisted 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 cost has grown with increased demand.

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

Bitcoin is able to pull users better than any other cryptocurrency becauseIt has the network impact. Bitcoins network validates its value to newcomers and provides Bitcoin a viral growth rate.The high market cap is comforting. Bitcoins enormous market cap provides users a sense of security and stability since its harder to manipulate and less prone to drastic swings in cost.

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Many Bitcoin consumers 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 kids who got in early, you cant really blame them. For example, if you had spent your $5 latte money on 2,000 bitcoins one morning in 2010, they'd be additional hints worth roughly $5.4 million today.

While many people have flocked to cryptocurrencies purely in search of financial gain, there are a ton of people which are only interested. Some individuals are sticking around and trying to understand what cryptos are all about. While more users increase Bitcoins network effect, more individuals forming in-depth understandings of cryptos additionally strengthen the busy Bitcoin community.Final ThoughtsBitcoin is still a relatively young currency but it has attained substantial user adoption and expansion.

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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 world now. This is exciting or unsettling for the vast majority. Equip yourself with the best potential resources. Become active in communities which further explore not only the technical applications of Bitcoin and other cryptos but with their overall potential to interrupt virtually every economy.