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As new investors continue to invest and the market cap grows, Bitcoins cost could be stable.Lack of adoption by businesses. The cost volatility is a huge reason that many businesses have yet to adopt Bitcoin as a type of payment. Increased consumer adoption and cost stability 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 we spread the word and expand the Bitcoin community, the better off our bitcoins will be.How to Buy BitcoinAs mentioned above, in the early years of Bitcoin it was difficult to find a trustworthy place to Purchase the cryptocurrency.   With the increase in demand for Bitcoin, numerous new companies have sprouted to help facilitate easily 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 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 has become 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 claims for a man living in Japan born on April 5th, 1975 however there are speculations that he's actually an individual programmer or group of programmers with a penchant for computer science and cryptography scattered around the United States or even Europe.Nakamoto is thought to have generated 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 graph to represent a relative search interest to the greatest points in the chart. A value of 100 is the peak popularity for the term Bitcoin and a value of 50 means it was half as hot at that time.

Its amazing how the searches relating to Bitcoin have spiked in the past few years.When Bitcoin began circulating in 2009, its early adopters consisted of developers and a niche bunch of technical people. Its popularity over time 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 achieved a network impact that brings even more users. Users who would otherwise be more apprehensive investing in a relatively unknown and unproven digital currency have been reassured by Bitcoins performance as time passes, its growing community, and the fact that people they know are adopting cryptos.Bitcoins first mover advantage, popularity, and network effect have cemented it as the very popular cryptocurrency together with the largest market cap.

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

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

While many people have flocked to cryptocurrencies purely in search of financial gain, there are a ton of people that are only interested. Some individuals are sticking around and trying to understand what cryptos are 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 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 Full Report from the fiat-based planet now. This is either exciting or unsettling for the vast majority. Equip yourself with the best possible resources. Become active in communities that further research not only the technical applications of Bitcoin and other cryptos but using their overall potential to disrupt virtually every economy.

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