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As new investors continue to invest and the market cap develops, Bitcoins cost 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 type of payment. Increased consumer adoption and cost stability will eventually mitigate this disadvantage.Another disadvantage is that while many people 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 Purchase BitcoinAs mentioned above, in the first years of Bitcoin it was difficult to find a trustworthy place to buy 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 enormous investments from venture capitalists.

You can compare exchanges and view our in-depth reviews in our How to Buy Bitcoin Guide.   Weve also recorded our top 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 their competitors, the New York-based cryptocurrency exchange has quickly built a Fantastic 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 but there are speculations that he's actually an individual developer or group of developers with a penchant for computer science and cryptography scattered around the United States or even Europe.Nakamoto is thought to have created the first blockchain database and has been the first to fix the double spending problem other digital currency failed to.

A value of 100 is peak popularity.Google Trends structures the graph to represent a comparative search interest to the highest points in the graph. A value of 100 is the peak popularity for the word Bitcoin and a value of 50 means it was half as popular at that time.

Its amazing how the hunts relating to Bitcoin have spiked in recent years.When Bitcoin began circulating in 2009, its early adopters consisted of developers and a niche crowd of technical people. Its prevalence over the years indicates that many of the disadvantages of Bitcoin will likely dissipate as Bitcoin becomes standard.Unsurprisingly, Bitcoins cost has grown with increased demand.

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By gaining a significant number of adopters and users, Bitcoin has achieved a network effect that attracts even more users. Users who'd otherwise be more apprehensive investing in a comparatively unknown and unproven digital currency have been reassured by Bitcoins performance over time, its growing community, and also the simple 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 largest market cap.

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Bitcoin is able to attract users better than any other cryptocurrency becauseIt has the network effect. Bitcoins network supports its value to newcomers and provides Bitcoin a viral pop over to these guys growth rate.The high market cap is comforting. Bitcoins massive market cap gives users a sense of security and stability since its harder to manipulate and less prone to drastic swings in cost.

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Many Bitcoin consumers are holding onto their bitcoins in hopes of selling them off for an enormous profit one day. With news articles portraying Bitcoin millionaires as lucky kids who got in early, you cant blame them. By way of instance, if you had spent your $5 latte money on 2,000 bitcoins one morning in 2010, they'd be worth roughly $5.4 million now.

When many individuals have flocked into cryptocurrencies only in search of financial gain, there are a ton of people that are simply interested. Some peoples are sticking around and trying to understand what cryptos are all about. Even though more users increase Bitcoins network effect, more people forming in-depth understandings of cryptos also strengthen the active Bitcoin community.Final ThoughtsBitcoin remains a comparatively young currency but it's attained 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 radically different from the fiat-based world now. This is exciting or unsettling for the huge majority. Equip yourself with the best possible resources. Become active in communities that further explore not only the technical applications of Bitcoin and other cryptos but with their overall potential to disrupt virtually every market.

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