What Is Bitcoin? Several aspects of btc and its merits!

The history of Bitcoin is not so old. As per the research in august 18, 2008 bitcoin.org named domain was registered. On January 3, 2009,the first Bitcoin block is mined. Despite all these, no one knows who invented Bitcoin. The name associated with Bitcoin is Satoshi Nakamoto. Satoshi and his group people officially released the Bitcoin papers in 2009 and they worked on the Btc software which was released in 2009.

The identification of Satoshi Nakamoto is still mystery. Some programmers claimed that they made numerous attempts to identify the person or group but still no one has satisfactorily resulted to conclude. Satoshi Nakamoto gave personal details claiming the citizen of Japan and has been born April 5, 1975 and this is the only detail we have ever know about him.There was a safety concern that’s why Satoshi Nakamoto didn’t reveal his identity.

Popularity of Bitcoin

Bitcoin came in popularity early as it launched and came into the knowledge of people. This can be proven by its statistics, looking at 2009 alone 34,489 blocks were mined at the reward rate of 50BTC per block hence the total payout in 2009 was 16, 24,500BTC which is worth 13.9 billion US Dollar as of today. There are numbers of people having or using it and as per its popularity the value of Bitcoin is increasing dramatically. The statistics show that the price of Bitcoin jumped from around 572.33 US dollars in August 2016 to approximately 4,764.87 US dollarsin August 2017.