Bitcoin by Maxim

Bitcoin is a cyber currency which is powered by the users’ hardware. The network is decentralized and requires no middleman to complete the transaction. The process of creating new bitcoins is called mining. The network encourages users, who share their hardware efficiency by giving them a number of bitcoins. This number is decreasing over years, so bitcoins could save their value.
The currency started gaining popularity in the dark web as a way to buy/sell drugs. People used it because bitcoin transaction are anonymous. Since then many bitcoin exchanges have been created. In 2010, the first bitcoin transaction has happened. The price per bitcoin was less than $0.01. Since 2010, the value of bitcoin has grown. Nowadays its price is around $400.
The price of bitcoin is very volatile. It experiences some rapid ups and down. It happens due to low volumes on bitcoin markets. Although bitcoin is not very stable for using it in our everyday life, it has bright future for one main reason, bitcoins can’t be created infinitely like other currencies.

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