12 days of christmas bitcoin wirex

SHARE
← Back to articles
SHARE

On the 12th day of Christmas, Satoshi gave to me… BITCOIN (BTC)!

December 23, 2017 9:00 am Published by

It’s been called a few different things:

Digital gold.

Magic Internet Money.

The Grandfather of all Crypto…

It’s been around for 9 years and this year it has received a lot of attention – both good and bad. But everyone is catching on and almost everyone is talking about it now.

We want to make sure you’re up to scratch with your facts so that you can walk away sounding like a complete Bitcoin pro.

Let’s run through what you need to know:

What is Bitcoin?

Well, where do we start? The short answer is, it’s digital money.

The slightly less short answer is that it is the first global, peer-to-peer cryptocurrency and payment system.

Why should you care?

  • Transparency: Anyone can see Bitcoin transactions – as it is on the ‘blockchain’ (learn how it works)
  • Decentralisation: Nobody owns or can take down the Bitcoin blockchain. It’s a peer-to-peer network.
  • Capped Supply: Bitcoin is capped at a maximum of 21 million Bitcoin. No more.

A bit more about Bitcoin:

  • Established Date: January 2009
  • Circulating Supply; 16,740,875 BTC
  • Total Supply: 21 million BTC
  • Market cap: $277 Billion USD
  • Notable Team Members:
      • Creator and developer, Satoshi Nakamoto.
      • Proof of work creator, Hal Finney.

The Price

At the beginning of 2017, one Bitcoin was $975 USD.

Today it’s around $16,560 US dollars.

That’s a gain of around 1700% this year!

 

Bitcoin price graph

Source: Coin Market Cap

Why the hype?

Everyone seems to have their own views on Bitcoin.

The general sentiment is that it has the potential to completely change how society perceives and uses money. and that’s enough to get everyone talking.

Bitcoin is digital Gold. It’s the first cryptocurrency and it paved the way for the 1000+ existing altcoins and many more to come. Bitcoin is a censorship-resistant, peer-to-peer payment system, relying on cryptographic proof rather than trust(in a financial institution).

And it’s the original.

Fun Facts:

  1. Lamborghini, the first car brand to accept Bitcoin.
  2. Someone once swapped 10,000 Bitcoins for a pizza in 2010. They’re now worth over $150 million USD
  3. The Bitcoin network is more powerful than 500 supercomputers put together
  4. The 21 million Bitcoin limit is expected to be reached in 2140
  5. Microsoft, Expedia, Dell, Virgin Galactic are some of the companies that accept Bitcoins as payment

Buy, Store, Send & Spend Bitcoin with Wirex

Using the Wirex app, Buying and Storing your Bitcoin has never been easier…

Send your Bitcoin to anyone in the World, easily within the app and Spend Using your Wirex debit card

If this is the first time you’ve stumbled across us, it’s easy and free to sign up.

The big EOS freeze

Less than 48hrs after its launch, the EOS blockchain froze. The cause of the freeze was resolved within a few hours of being reported. However, this momentary hiccough was sufficient to spark another emotional debate about security in the crypto arena. EOS blockchain was set up to rival Ethereum. It boasted BPs (block producers) to… View Article

A beginners guide to Litecoin

With over 1000 cryptocurrencies now available, there are plenty of options for those looking to diversify their holdings. One of the most popular altcoins is Litecoin. Here are the basic facts you should know about Litecoin. Litecoin is almost identical to Bitcoin Litecoin is a peer to peer cryptocurrency which works in pretty much the same way as… View Article

Is Litecoin set to outperform Bitcoin this year?

That’s the question many cryptocurrency investors and traders will no doubt be scratching their heads over as the market heats up this summer. Some say Bitcoin has already gone too far. Just one Bitcoin costs many thousands of dollars. Many feel they’ve missed the boat already. Litecoin has considerable potential as an everyday payment currency,… View Article

Today’s Bitcoin price jump: ready to moon?

Is this the moment we’ve been waiting for? Is Bitcoin’s price about to turn from its recent negative trend (going dowwwwn) to a new bull-market to retest December’s all-time-high of $20,000!?   Today, the Bitcoin price spiked through a few significant resistance points on the four hour chart, including breaking above the Ichimoku cloud as… View Article