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As new investors continue to invest and the market cap develops, Bitcoins price could be stable.Lack of adoption by businesses. The price volatility is a large reason that many businesses have yet to embrace Bitcoin as a type of payment. Increased consumer adoption and price equilibrium will eventually mitigate this disadvantage.Another disadvantage is that while many individuals know of Bitcoin, few understand exactly what it is or how it functions.

The more people 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 reliable 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 received enormous investments from venture capitalists.

You can compare exchanges and see 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 their 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's actually an individual developer or group of developers with a penchant for computer science and cryptography scattered around the United States or Europe.Nakamoto is thought to have created the first blockchain database and has been the first to solve the double spending problem other digital currency failed to.

A value of 100 is peak popularity.Google Trends structures the chart to represent a comparative hunt interest to the highest points in the chart. A value of 100 is the peak popularity for the term Bitcoin and a value of 50 means it had been half as popular at that time.

Its amazing how the searches 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 popularity 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 significant number of adopters and users, Bitcoin has attained a network effect that attracts even more users. Users who would otherwise be apprehensive a fantastic read investing in a relatively unknown and unproven digital currency are reassured by Bitcoins performance as time passes, its growing community, and the simple fact that people they know are adopting cryptos.Bitcoins first mover content advantage, popularity, and network effect have cemented it as the very popular cryptocurrency with the greatest market cap.

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

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Many Bitcoin users are holding onto their bitcoins in hopes of selling them off for an enormous profit one day. With news posts portraying Bitcoin millionaires as lucky children who got in early, you cant really blame them. For instance, if you had 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 individuals have flocked to cryptocurrencies only in search of financial gain, there are a ton of people that are only curious. Some individuals are sticking around and trying to understand what cryptos are all about. While more users increase Bitcoins network impact, more individuals forming in-depth understandings of cryptos also strengthen the busy Bitcoin community.Final ThoughtsBitcoin remains a comparatively young currency but it has attained 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 world today. This is exciting or unsettling for the huge majority. Familiarize 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 interrupt virtually every economy.

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