Have you ever heard about Bitcoin? I think you probably did, because it gathered people’s attention in 2013, because of the sudden increase of its price. Before, no one knew much about Bitcoin, and most people around the world were reluctant to have it because of its unknown name and low price. But after Bitcoin boomed in 2013, it has become the most famous investment that everybody is eager to have, but cannot because of its amazingly high price. You might have some questions now about the market of Bitcoin, or about Bitcoin itself. When was it made? Why did it become famous? Who made Bitcoin? How does the Bitcoin market work?

Bitcoin was born on January 3, 2009, which means it was first mined in a block chain market at that period. The price of Bitcoin when it was first mined was about $0.0009 per Bitcoin. Before it was mined in October 2009, one computer science student Martti Malmi, sold 5,050 coins for around $5.00, and this gave value to Bitcoin for the first time. They are the first customers and sellers of Bitcoin, but who is the founder of Bitcoin? No one knows about the founder of Bitcoin, but there is one Japanese man who is suspected as a founder of Bitcoin. His name is Satoshi Nakamoto, an old Japanese man, but he always denies that he is the founder of Bitcoin.

If you don’t know about Bitcoin very well and want to try just for fun, then you might want to know more about Bitcoin, like questions about whether it is legal and whether it can be stolen by someone else. Bitcoins, to simplify, are digital currencies. Because it is digital, it keeps itself really secure. Moreover, in most countries, they allow Bitcoin as one of the methods of investment. But, there are always some exceptions. Ghana, Lesotho, Sierra Leone, Egypt, Libya, and Morocco banned the use and all of the investments on Bitcoin from the start.

When Bitcoin was booming for the first time, there was one sad story about it. There was a man who was living somewhere in Florida. He was just a normal man, but he owned 10,000 Bitcoins. But, at that time, Bitcoin was a useless investment method, and it wasn’t well-known to people like nowadays. So, one day, he was hungry, so he bought 2 pizzas trading 10,000 Bitcoins.

Then when did the firework of Bitcoin start? By June 2011, the price of Bitcoin increased 30 times, reaching a value of $30 in a short time. But sadly, a few moments after the sudden first boom of Bitcoin, its value started to drop. It didn’t last for a long time. The real fireworks started in 2013, and in 2016, the value became around $993.00, which is an amazing increase. Currently, 1 Bitcoin is worth $51,208. Compared to 2011, it is a really rapid increase.

Bitcoins are now reliable investment sources. This has been famous for sudden price jumps, and some people earned money because they owned Bitcoin for some reason. Some people bought pizza with Bitcoin and someone lost their password and was not able to find the money. Lots of tragedy and lots of success happened because of the Bitcoin boom. But, one thing we need to remember before investing in Bitcoin or any other stocks is that we first need to study about the field that we are interested in trying to invest in to minimize loss. It is not expectable. No one knows about the exact date of increase and fall of their investments. Even if it is legal and even if it is reliable, we always need to be careful to prevent silly and dumb mistakes that might bring tragedy to us.

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