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Money Bitcoin’s price smashes through $10,000: A history of the digital currency by numbers

00:16  01 december  2017
00:16  01 december  2017 Source:   smartcompany.com.au

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We take a look at the digital currency 's history by numbers . This marks a year of incredible growth for the blockchain-based currency , with the price per coin sitting at $US1000 in January, and fulfils a number of prophecies laid out by investors and speculators around the price of the cryptocurrency.

Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities.

Bitcoin© Provided by Private Media Operations Pty Ltd. Bitcoin

Despite years and years of disbelief, uncertainty, huge crashes and exchange hacks, digital currency Bitcoin has hit an iconic milestone, breaking through a $US10,000 ($13,000) value per coin today.

This marks a year of incredible growth for the blockchain-based currency, with the price per coin sitting at $US1000 in January, and fulfils a number of prophecies laid out by investors and speculators around the price of the cryptocurrency. Not JP Morgan’s Jamie Dimon though, he thinks Bitcoin is “a fraud”.

The milestone also marks a significant moment for the cryptocurrency market as a whole, with the entire market capitalisation currently sitting over $US300 billion. This is in part due to the astounding growth of Bitcoin, but is also in part due to the similar growth seen in other coins such as Ethereum, Litecoin, and numerous other “altcoins”.

Index fund-type coins are about to enter Cryptocurrency market

  Index fund-type coins are about to enter Cryptocurrency market If you’ve seen media coverage of Bitcoin and the rise of cryptocurrencies, you’re probably thinking of getting into the action, if you haven’t already. Aggregated Coin (AGRE) and UpStart1K (UP1K) are ICOs that will launch on December 1st.

The price of bitcoin has smashed through , 000 to an all-time high. Others in the Bitcoin community suggested that prior knowledge of the upcoming hack was used by unknown entities for insider trading as the price had begun to drop significantly before Bitfinex's announcement.

Bitcoin Price History Chart. Loading chart (uses javascript). Bitcoin ’s price is measured against fiat currency , such as American Dollars (BTCUSD), Chinese Yuan (BTCCNY) or The daily power cost of all mining is estimated around 0, 000 . Dividing that total by the current BTCUSD price provides an approximation of the minimum number of bitcoins which miners supply to markets daily.

Bitcoin’s origin is shrouded in mystery, and the coin’s purpose today is a far cry from its original advertised use-case as a “peer-to-peer electronic cash system”. High transaction fees and similarly high transaction times has turned Bitcoin from a viable replacement for fiat currency into what many call “digital gold” — a decentralised value-store option.

  Bitcoin’s price smashes through $10,000: A history of the digital currency by numbers © Provided by Private Media Operations Pty Ltd. With the hype around the currency likely to continue across 2018 and perhaps beyond, here’s a few things you might not know about Satoshi Nakamoto’s groundbreaking technology, and a rundown on Bitcoin by the numbers.

10: The number of people who have claimed to be, or have been speculated to be the creator of Bitcoin Satoshi Nakamoto. Bitcoin was created in 2008 by an anonymous figure known only by the pseudonym Satoshi Nakamoto, who was active in the development of the technology until 2010 when they disappeared. Many have speculated or claimed to be Nakamoto, including Australian academic Craig Wright, and recently SpaceX founder Elon Musk’s name was mentioned (though he has denied the claims). A wallet known to be owned by Nakamoto contains approximately $US9 billion in the currency.

Home owner willing to accept Bitcoin as payment could make history

  Home owner willing to accept Bitcoin as payment could make history "It's something different, it’s never been done before."Robert Gadd has spent 18 months constructing the five-bedroom home in the foothills of the Dandenongs and has put it on the market.

The CoinDesk Bitcoin Price Index provides the latest and most accurate bitcoin price using an average from the world's leading exchanges. XRP broke records in September and was the best performer out of the world's 25 largest cryptocurrencies.

Bitcoin is trading above $ 10 , 000 , hitting another record high. The first decentralized peer-to-peer payment system, bitcoin , has broken through the $ 10 , 000 mark on South Korea’s It started the year at below ,000. Now, according to the PwC rating of the 100 largest companies, the turnover of all

0.08: The amount of US cents that Bitcoin first traded at in 2010.

Seven: The number of years it took for Bitcoin’s price to reach $US1300.

Bitcoin blasts past $10,000 mark amid bubble concerns

  Bitcoin blasts past $10,000 mark amid bubble concerns The cryptocurrency's value has risen nine-fold since the beginning of the year. Tuesday's trading price gives bitcoin a market capitalization of $168 billion, greater than the vast majority of S&P 500 companies, including Dow 30 components Boeing, Disney and GE.Since its founding in 2009, bitcoin has made a name for itself by allowing for anonymous transactions. The digital currency is now accepted by more than 100,000 merchants worldwide, including Microsoft, Dish and Subway. The cryptocurrency has experienced a massive run in 2017. On Jan. 1 this year, bitcoin was priced at just under $1,000.

The Bitcoin bull continues to charge as the price soars to over k. This latest surge comes on the heels of a successful test of the Lightning Network on the main Bitcoin network. Another statistic of note is the rising level of Bitcoin market cap dominance across the entire digital currency market.

Only bitcoin is entirely digital ; no one is carrying actual bitcoins around in their pocket. Bitcoin is divorced from governments and central banks. One of the biggest moments for Bitcoin came in August 2017. When the digital currency officially forked and split in two: bitcoin cash and bitcoin .

28: The number of days it took for the price to go from $2000 to $3000.

3: The number of days it took for the price to go from $9000 to $10,000.

194: The number of times Bitcoin has been proclaimed “dead” by publications, financial institutions, and investors. This includes times it was declared the price would go to zero, and the times the Bitcoin market was compared to the Dutch tulip bubble of 1637.

Two: The number of times Bitcoin has been “forked”. Late 2017 saw a number of contentious issues arise in the Bitcoin community around the best ways to help scale the coin as more and more users got on board. This lead to a number of members of the community supporting a different set of protocols for the Bitcoin chain, resulting in a split of the original chain, or a “fork”. This has happened twice so far, creating Bitcoin Cash (valued at $US1500) and Bitcoin Gold (valued at $US340), which all users who held Bitcoins received for free.

159: The number of countries which Bitcoin mining outranks electricity. The amount of energy expended mining Bitcoin globally now exceeds the energy consumption of more than 150 countries, and is on par with the annual electricity consumption of Morocco. Bitcoin is mined through high-powered computers solving complex equations, which in turn creates the “blocks” of the blockchain.

The only thing rising faster than Bitcoin's price is the number of people who think it's a bubble

  The only thing rising faster than Bitcoin's price is the number of people who think it's a bubble Bitcoin mania is showing few signs of slowing down with prices surging to $US11,390, an all-time high, on Wednesday. About the only thing rising faster than the cryptocurrency is the number of people who think it's a bubble. Bitcoin mania is showing few signs of slowing down with prices surging to $US11,390, an all-time high, on Wednesday.

History of Bitcoin cryptocurrency. Bitcoin is a decentralized cryptocurrency created in 2008 by the pseudonymous Satoshi Nakamoto.This account of bitcoin history resumes the first ten -years (2008 - 2017 inclusive) of the cryptocurrency.

Bitcoin has burst through the $ 10 , 000 mark for the first time in its history , sparking fresh fears that the digital currency has created a bubble that could Digital currencies have largely been shunned by heavyweights in the City and on Wall Street, but the prospect that bitcoin could soon cross over into

21 million: The total number of Bitcoin that will ever be created, speculated to be reached by 2040. Currently, there are 16.7 million Bitcoin in circulation.

4 million: The number of Bitcoin lost forever. A recent study reported byForbesrevealed that analysts believe 4 million in Bitcoin (around $US40 billion) is lost forever, either due to misplaced digital wallets, transactions sent to the wrong address, or just general carelessness. This number also includes the amount held in Nakamoto’s wallet, which is assumed to be out of circulation.

?: What the price will be in 12 months. Despite constant cries of “Ponzi scheme” and comparison to historic market bubbles, the cryptocurrency market is unlike any seen before, and Bitcoin’s $US10,000 price has defied all expectations.

The future for cryptocurrencies are entirely uncertain, especially with potential government regulation and traditional investor interest on the horizon. Only one thing is certain: the price will either go up or go down.


Bitcoin exchange NiceHash robbed of $64 million from its wallet .
As the value of Bitcoin soars, it also turns holders of large volumes of the currency into prime targets for thieves. For those keeping score, that’s about 4,700 BTC, each worth about $13,617 at the time of the breach.

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