Today i was going through some old articles online about bitcoin and the speeches made by Satoshi Nakamoto (the founder of bitcoin) in the early days of bitcoin evolution, i realised how opportuned I am to have witnessed the better half of this bitcoin story and to be a partaker in the future of this revolutionary invention in the history of mankind.
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So many are yet to understand the concept of blockchain technology and bitcoin, so many still classify it as a scam and so many have refused to accept it, Yet this doesn't make the value lesser than it is or make it more useless in respect to their belief.
In the early days when Bitcoin was just a prophecy or used by few individuals and was ran by a few if not less than 10 mining pool, we saw bitcoin appreciate steady in value over time though its usage was very limited to a few population of people, in the year 2011 bitcoin was still barely over 5$.
An excerpt from Vitalik Dmitry- founder of ethereum while he was 17 (2011) after he heard about bitcoin:
“So then I promptly entered the bitcoin forums, and tried to find some way to earn bitcoins (as I had no money and no mining hardware at the time); eventually I found a guy who was willing to pay me 5 BTC (then $4) per article to write articles for a blog he was trying to start up. I did that for a while; eventually, despite paying me 15% minimum wage, the guy eventually ran out of money, so to keep earning more BTC I came up with a cool business model where I would write 2 articles a week, just publish the first paragraph of each one, and hold the rest "for ransom", only releasing it when people have donated 2-4 BTC to a given address. That actually worked and kept my income up for two months.
The key point there is bitcoin was actually worth just 4$, still was used as a means of payment and with good value, however, with limited acceptance, between the last quarter of 2011 to December 2012 bitcoin had appreciated in steady growth from 5$ to about 12$ (120% growth) .
data source
Its even more interesting to know that the volume of bitcoin in USD accross all major exchanges as at 2012 was just $100,000,000++ (source>>)which is less than one fifth the current daily volume of btc and also as at that time the effective usage of the blockchain technology havent been fully implemented as bitcoin was the only cryptocurrency used and only as a medium of exchange.
Now in 2018, we've seen mass adoption and utilization of the blockchain technology and the volume as well, has massively increased even though there have been some major correction of price still way much better compared to 2012 or even 2016.
We've seen so many countries around the world fully in acceptance and legalised with crypto, most(such as the US, EU bodies and some other countries) are taking full participation in the legalization and regulatory aspect of it.
Though major countries like the US and China or some part of the European union pose a negative attitude towards the formal acceptance and legality of bitcoin still this doesn't dispute the fact that it isn't legal or accepted as even the citizens of such countries still take major part in the trading activities and day to day usage and speculations. There have as well been general improvement in the blockchain technology and crypto ecosystem all over the world.
We've seen crypto emerge into all aspect of technology ranging from, gaming, gambling, electricity/power, communication, artificial intelligence, infrastructure, etc and more good project and technology which we've never seen are still on their way...
Now we may look back at 2015 and earlier, probably wished we had bought some bitcoins or other alts coins like Litecoins while they were worth few dollars, some of us may even daydream of the billions we would have had, lol, i'm a top victim in this aspect. But keep in mind most of us if not 99.9% of us would have sold it out even if we had bought 1000 bitcoins for just 20$.
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lol imagine what this dude would be wishing now... he probably might have committed suicide, hahahhahaha..
2013: historical snapshot
2015: historical snapshot
2017: historical snapshot
2018: as at the time of writting
(all historical data from coinmarketcap)
If we should look back on these previous years i bet we would all wished we had known then what we know now, or would have invested then what we are investing now, or some of us might even be thinking we are investing late or classified as the late investors of bitcoin.
As most ICO portrays:
"Missed the bitcoin train....."
this was one of the most famous crypto line in the year 2017 and early 2018.
However, one thing you should know, last year most wished they invested a year earlier and even in the year 2014 most still wished they invested earlier. Now, Right Now, This very moment is the best time to invest don't wait for any thing such as Dips or dumps, keep investing as much as you can, cause a year from now or 2 years from now if you don't then you will be among those who would bite their fingernails and wish they'd invested earlier.
Disclaimer: i am not a financial adviser and my articles and advice are fully based on my personal belief and viewpoint, do note that taking my advice and investing upon my advice is at your own risk.
A child born in this era would likely ask>>
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This whole article leaves me with the big question.
WHERE DO YOU EXPECT TO SEE BITCOIN IN THE YEAR 2020???
Best Regards
Nicholas Ilechie
ESPANYOL
Hoy estaba repasando algunos viejos artículos en línea sobre bitcoin y los discursos pronunciados por Satoshi Nakamoto (el fundador de bitcoin) en los primeros días de la evolución de Bitcoin, me di cuenta de lo oportuno que soy de haber sido testigo de la mejor parte de esta historia de bitcoin y de ser un participante en el futuro de esta invención revolucionaria en la historia de la humanidad.
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Todavía hay muchos que aún no entienden el concepto de tecnología blockchain y bitcoin, por lo que muchos todavía lo clasifican como una estafa y muchos se han negado a aceptarlo. Sin embargo, esto no hace que el valor sea menor de lo que es o lo hace más inútil con respecto a su creencia.
En los primeros días, cuando Bitcoin era solo una profecía o era utilizado por pocos individuos y contaba con un grupo de minería de al menos 10, vimos que el bitcoin apreciaba su valor con el tiempo aunque su uso era muy limitado a unas pocas personas. , en el año 2011 el bitcoin aún apenas superaba los 5 $.
Un extracto de Vitalik Dmitry, fundador de ethereum, cuando tenía 17 años (2011) después de haber oído hablar de bitcoin:
"Entonces ingresé de inmediato a los foros de bitcoin e intenté encontrar la forma de ganar bitcoins (ya que no tenía dinero ni hardware de minería en ese momento); finalmente encontré un tipo que estaba dispuesto a pagarme 5 BTC (luego $ 4) por artículo para escribir artículos para un blog que estaba tratando de poner en marcha. Lo hice por un tiempo; eventualmente, a pesar de pagarme un salario mínimo de 15%, el tipo finalmente se quedó sin dinero, así que para seguir ganando más BTC se me ocurrió un modelo de negocio genial donde escribía 2 artículos a la semana, solo publicaba el primer párrafo de cada uno, y mantenga el resto "a cambio de rescate", solo soltándolo cuando las personas hayan donado 2-4 BTC a una dirección determinada. Eso realmente funcionó y mantuvo mis ingresos durante dos meses.
El punto clave allí es que el bitcoin en realidad valía solo 4 $, todavía se usaba como medio de pago y con buen valor, sin embargo, con una aceptación limitada, entre el último trimestre de 2011 y diciembre de 2012 bitcoin se había apreciado en un crecimiento constante desde 5 $ a alrededor de 12 $ (120% de crecimiento).
data source
Es aún más interesante saber que el volumen de bitcoin en dólares estadounidenses en todas las bolsas importantes al 2012 fue de solo $ 100,000,000 ++ (fuente>>) que es menos de un quinto del volumen diario actual de btc y también como en ese momento el uso efectivo de la tecnología blockchain no se había implementado completamente ya que bitcoin era la única criptomoneda utilizada y solo como un medio de intercambio.
Ahora en 2018, hemos visto la adopción masiva y la utilización de la tecnología blockchain y el volumen también, ha aumentado enormemente a pesar de que ha habido una gran corrección de los precios aún mucho mejor en comparación con 2012 o incluso 2016.
Hemos visto tantos países de todo el mundo totalmente aceptados y legalizados con cifrado, la mayoría (como los EE. UU., Los organismos de la UE y algunos otros países) están tomando plena participación en la legalización y el aspecto normativo de la misma.
Aunque los principales países como Estados Unidos y China o alguna parte de la Unión Europea presentan una actitud negativa hacia la aceptación formal y la legalidad del bitcoin, esto no niega el hecho de que no es legal ni aceptado, ni siquiera los ciudadanos de esos países. todavía toman parte principal en las actividades comerciales y el uso diario y las especulaciones. También ha habido una mejora general en la tecnología blockchain y el ecosistema criptográfico en todo el mundo.
Hemos visto cómo el cripto emerge en todos los aspectos de la tecnología, desde juegos, juegos de apuestas, electricidad / energía, comunicación, inteligencia artificial, infraestructura, etc. y más proyectos y tecnologías que nunca hemos visto están en camino ...
Ahora podemos mirar hacia atrás en 2015 y antes, probablemente desearíamos haber comprado algunas monedas de bitcoins u otras monedas como Litecoins mientras que valían pocos dólares, algunos de nosotros incluso soñamos con los miles de millones que habríamos tenido, jajaja, soy un mejor víctima en este aspecto. Pero tenga en cuenta a la mayoría de nosotros si el 99.9% de nosotros no lo hubiéramos vendido, incluso si hubiésemos comprado 1000 bitcoins por tan solo 20$.
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Jajaja imagina lo que este tipo estaría deseando ahora ... probablemente se haya suicidado, jajajaja ...
2013: instantánea histórica
2015: instantánea histórica
2017: instantánea histórica
2018: como en el momento de escribir
(todos los datos históricos de coinmarketcap)
Si miramos hacia atrás en estos años anteriores, apuesto a que todos desearíamos haber sabido entonces lo que sabemos ahora, o habríamos invertido entonces lo que estamos invirtiendo ahora, o algunos de nosotros podríamos estar pensando que estamos invirtiendo tarde o clasificados como los últimos inversores de bitcoin.
Como la mayoría de ICO retrata:
"Perdí el tren bitcoin ..."
esta era una de las líneas de cifrado más famosas del año 2017 y principios de 2018.
Sin embargo, una cosa que debes saber es que el año pasado la mayoría deseó haber invertido un año antes e incluso en el año 2014 la mayoría aún deseaba haber invertido antes. Ahora, en este momento, este es el mejor momento para invertir, no esperes nada como Dips o vertederos, sigue invirtiendo tanto como puedas, causa un año a partir de ahora o dentro de 2 años si no lo haces entonces estarás entre aquellos que se muerden las uñas y desearían haber invertido antes.
Descargo de responsabilidad: no soy un asesor financiero y mis artículos y consejos se basan completamente en mi punto de vista y creencia personal, tenga en cuenta que seguir mi consejo e invertir en mi consejo es bajo su propio riesgo.
Un niño nacido en esta época probablemente preguntaría>>
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Todo este artículo me deja con la gran pregunta.
DONDE ESPERA VER BITCOIN EN EL AÑO 2020 ???
THANKS FOR READING
Atentamente
Nicholas Ilechie
Excelentísimo artículo, creo que más que el Bitcoin, serán las criptomonedas las que estarán en la cúspide para el 2020, ya somos testigos de la implementación de Ripple en el sector bancario, el gran "enemigo".
jajajaja, personalmente no etiquetaré a "ripple" como un gran enemigo, sin embargo, su centralización plantea un gran problema, creo que un proyecto como Stellar Lumen probablemente se implementará más adelante ya que sirve para el mismo propósito que el rizado e incluso mucho mejor para la industria bancaria
Lol I thought I missed bitcoin in 2013.
Lesson - always be buying bitcoin.
Those who say it's about the blockchain, not bitcoin... have it ass backwards!
haahhahhahha, @g-dubs, great to have someone like you stopping by to read my post, same here i totally had the same feeling early last year as well, thank God i pushed for it.
Hope to see you on my future posts.
Cheers
Thanks for your contribution.
Cool that you were there so early and used bitcoin in the beginning.
Even if you have sold you are a pioneer.
I also think that people should invest now Bitcoin is still in its infancy and people who are laughing about the price loss since the beginning of this year and talking about Bitcoin Tot will be the people who will ask in the future how and where to buy bitcoins can.
I am convinced of Bitcoin I invest every month a part of the money that is planned to save in Bitcoin. I do not care how the price is right now. The price of today does not matter tomorrow.
Bitcoin is more than a daily price in the chart
exactly, thats the spirit and the idea,
One does not invest in an already established business, but in a business with future prospective.
What ever the price is right now for bitcoin or any other crypto currency doesnt matter and what matters is the future of the project..
Cheers mate, and thanks for stopping by.
You can also read on my new article about electroneum and why i believe it is a sleeping giant.
Cheers and looking forward to seeing your comment on my future articles.
Elektroneum is not my coin.
Too much marketing a good coin develops alone.
But I am also rather old-fashioned despite Crypto and take the coins that are already running properly and solve a real problem because there are only a handful of projects for me
Bitcoin and Ethereum are 2 of them.
The rest has yet to prove itself and many will fail.
Of course I am aware that other coins may perform better than the two.
But since I renounce profit and take the coins that have the slightest chance to fail and that's the two times.
Hmm, though am not the old fashioned enthusiast, however i have a great taste for coins with great project of which i have invested in a few as well, in my previous article about the future of cryptocurrencies i talked about what i see in the future and just as you said
good project with quality purpose in solving real life problem will be a big factor in determining who stays in the future,however i think ETN is a great project and one which tends to serve the true purpose of the ideal satoshi nakamoto's concept of cryptocurrencies, by giving the power of money back to the people.
Though it may not excel as Ethereum or Iota or Bitcoin as they all work in their various ecosystem with Ethereum solely leading the technological aspects of blockchain...
However, Electroneum is currently doing well in the purpose of which it was created for and in its ecosystem. And amongst all the COINS which i hodl, i believe ETN will be a great boost in helping the poor masses attain wealth if invested on. click here for more details on the electroneum article>>
La máxima expresión del desarrollo en el campo financiero, creo que de hecho como muchos han dicho aquí dentro de unos años las criptomonedas serán el futuro, de hecho en algunos sitios ya lo son, el desarrollo y el aporte sobre todo aquí hermano, la aceptación de la moneda como un recurso y un apoyo de confianza hará que el mercado se adapte al sistema , yo le tengo plena confianza a la moneda, de todas maneras amanecerá y veremos.
Sin duda lo hará, y cuando nazca, aquellos que lo rechazaron y lucharon contra él solo desearían haberlo aceptado antes.
Gracias por visitarnos y esperamos leer tu comentario en otro momento
Aclamaciones
Sera un placer.
What about Steem ?
When Steem price reach Bitcoin price !
smiles,
i cant say it will, but steem is a great project, which still face alot of disadvantages and in need for some enhancement and modifications, however the possibility of it hitting over 1000$ or the price of bitcoin is almost impossible based on the purpose it serves, though it would be nice if it does.
Hello @nicholasilechie thank you for sharing, you can say that again since the First Wave of 2013 up to this time more people are still confuse about the Blockchain and think it's a scam and refused to accept it like you said. But i know even if the Bitcoin price on high and GPU's trying to replace with the hardware for mining Still this is the Beginning of the Trend that is gonna take Decades unfold we're still early and No Rush and make sure we know what we are doing we are on the right path.
Like i'am into 3 Different platform on Trading and Bitcoin Mining, some i got a 10% of what you invest every week for 16 Cycles or weeks, the other one is 15% of what you invest every month isn't too bad right! Even my kids are enjoying the platform. Well if you want to join my team on this journey in ICO just ping me out here bro.
hi @ranniesan , please do enlighten me more about the mining
My pleasure @nicholasilechie. Well i'd love to tell you everything here and educate you on some matters but i think this is not the good platform to talk about this. Because we're talkin' about the business here right. So if you really want into Bitcoin Mining and make a profit just give me your means of communication so we can talk more about it like Facebook messenger, WeChat, Viber, or Whatspp. and for you to trust me also that i'am not a fraud or a scam i just wanted to help people to have a financial freedom like i do. I'am so busy yet i'am expecting a payout in return every week, Monthly and continues earning on different platform. Let your Money works for you right! Hope to hear from you soon so you can start earning both Active and Passive. Just let me know where i can reach you and i give you mine. Aaaaahhhhh......ight!
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hi @pawanain, thanks for the words i appreciate, i recommend you read on my previous article>> about The 5 secret key to success on steemit
Thanks
and if you find this helpful then follow so you get updated on my future post
awesome concept..
thanks for stopping by and reading
cheers
Really good pardiction
cheers
You explained everything and here we can see your hard work. Great job
thank you thank you my friend, very much appreciated and thanks for stopping by
cheers
Wlcm friend