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As new investors continue to invest and the market cap grows, Bitcoins price could become more stable.Lack of adoption by businesses. The cost 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 individuals have heard of Bitcoin, few understand just what it is or how it functions.

The more we 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 Purchase the cryptocurrency.   With the increase in demand for Bitcoin, numerous new companies have sprouted to help facilitate readily 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 recorded 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 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 asserts to be a man living in Japan born on April 5th, 1975 however there are speculations that he is actually either an individual programmer or group of developers 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 solve the double spending problem other electronic currency failed to.

A value of 100 is summit popularity.Google Trends constructions the graph to represent a relative search interest to the greatest points in the graph. A value of 100 is the peak popularity for its term Bitcoin and a value of 50 means it had been half as popular at that moment.

Its amazing how the hunts relating to Bitcoin have spiked in the past few years.When Bitcoin began circulating in site web 2009, its early adopters consisted of developers and a niche bunch of technical people. Its prevalence over the years indicates that many of the disadvantages of Bitcoin will probably dissipate as Bitcoin becomes standard.Unsurprisingly, Bitcoins price 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 more apprehensive investing in a relatively unknown and unproven digital currency have been reassured by Bitcoins performance as time passes, its growing community, and the fact that people they know are adopting cryptos.Bitcoins first mover advantage, popularity, and network effect have cemented it as the very popular cryptocurrency with the greatest market cap.

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Bitcoin can pull users greater than any other cryptocurrency becauseIt has the network effect. Bitcoins network validates its worth to newcomers and gives 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 not as prone to extreme swings in cost.

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Many Bitcoin users are holding onto their bitcoins in hopes of selling them off to get an enormous profit one day. With news posts portraying Bitcoin millionaires as blessed children who got in early, you cant blame them. By way of example, if you'd spent your $5 latte money on 2,000 bitcoins one morning in 2010, they'd be worth about $5.4 million today.

While many individuals have flocked into cryptocurrencies purely in search of financial gain, there are a ton of people that are simply curious. Some individuals are sticking around and trying to understand what cryptos are all about. While more consumers increase Bitcoins network effect, more individuals forming in-depth understandings of cryptos also strengthen the active Bitcoin community.Final ThoughtsBitcoin is still a comparatively young currency but it's achieved 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's drastically different from the fiat-based planet today. This is either exciting or unsettling for the vast majority. Familiarize yourself with the best potential resources. Become active in communities that further explore not only the technical applications of Bitcoin and other cryptos but using their general potential to disrupt virtually every market.

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