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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 price volatility is a huge reason that many businesses have yet to embrace Bitcoin as a form of payment. Increased consumer adoption and cost equilibrium will eventually mitigate this disadvantage.Another disadvantage is that while many individuals know of Bitcoin, few understand just what it is or how it functions.

The more people spread the word and expand the Bitcoin community, the better off our bitcoins will be.How to Purchase BitcoinAs mentioned above, in the early years of Bitcoin it was difficult to find a reliable place to buy the cryptocurrency.   With the increase in demand for Bitcoin, numerous new companies have sprouted to help ease readily purchasing Bitcoin.These days, many Bitcoin exchanges have received huge investments from venture capitalists.

You can compare exchanges and see our in-depth reviews in our How to Purchase Bitcoin Guide.   Weve also listed 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 opponents, the New York-based cryptocurrency exchange has rapidly 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 claims for a man living in Japan born on April 5th, 1975 but there are speculations that he's actually an individual programmer 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 constructions the chart to represent a comparative search interest to the highest points in the chart. A value of 100 is the peak popularity for the word Bitcoin and a value of 50 means that it had been half as hot 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 men and women. Its popularity over time indicates that many of the disadvantages of Bitcoin will probably 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 attained a network effect that attracts even more users. Users who'd otherwise be more apprehensive investing in a comparatively unknown and unproven digital currency are reassured by Bitcoins performance over time, its growing community, and the simple fact that people they know are adopting cryptos.Bitcoins first mover advantage, popularity, and network impact have cemented it as the most popular cryptocurrency together with the greatest market cap.

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Bitcoin can pull users better than any other cryptocurrency becauseIt has the network impact. Bitcoins network validates its worth to newcomers and provides Bitcoin a viral growth rate.The high market cap is comforting. Bitcoins enormous market cap gives users a sense of safety more and stability since its harder to manipulate and not as prone to extreme swings in cost.

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

While many people have flocked to cryptocurrencies purely in search of financial gain, there are a ton of people which are simply curious. Some peoples are sticking around and trying to understand what cryptos are all about. Even though more consumers increase Bitcoins network impact, more individuals forming in-depth understandings of cryptos also strengthen the active Bitcoin community.Final ThoughtsBitcoin is still a relatively young currency but it's achieved substantial user adoption and expansion.

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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 is drastically different from the fiat-based planet now. This is exciting or unsettling for the huge 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 with their general potential to interrupt virtually every economy.

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