Crypto Trading News

Bitcoin Brief History: New Payment Method That Changes Our World


306.1 MILLION % OF PROFIT IN 8 YEARS. Bitcoin Brief History: New Payment Method That Changes Our World
On October 5th, 2009, bitcoin received its first rate in relation to traditional currencies. New Liberty Standard set the rate of 1 dollar for 1.309.03 BTC, meaning that for more than a thousand bitcoins only a dollar was given. And on February 9th, 2011, 1 bitcoin was worth $1.

In June 2014, the US government auctioned more than 29,000 BTCs seized from the illegal Silk Road trading platform.
September 2015 was a real breakthrough of Bitcoin’s crypto currency into the legal market. The US State Commission, the head of stock futures Commodity Futures Trading Commission, decided to equate bitcoins to standard goods for sale, such as gold and oil. This gave certain levers of control over crypto options and futures. After the order publication the New York Stock Exchange in anticipation of the bitcoin trading permission for the first time in the world announced the index of crypto currency to be the NYSE Bitcoin Index.

On October 22nd, 2015, the EU Court decided that the transactions in crypto-currencies, including bitcoins, should not be subject to VAT.
May 2016 was marked by an active bitcoin growth rate. Financial experts noted that the bitcoin rate began to grow after the increase in purchases of cryptocurrency in the Chinese market. By the end of May, investors from China began buying up bitcoins at $ 570 rate and higher. From January to May 2016, the volume of transactions with cryptocurrency for yuans has increased by more than 15%.

On April 1st, 2017 in Japan came into force the law according to which bitcoins and other crypto-currencies receive the status of means of payment. According to Nikkei, in 2015 the domestic turnover of bitcoins, as well as Ripple, Litecoin, and other currencies reached 185 billion yen (1.67 billion dollars). By 2020, it is expected to increase to a trillion yen.
The bitcoin rate shows investors` active interest in it. Currently, as of May 29th, the bitcoin market capitalization has reached $ 37.9 billion, and its share in the total volume of crypto-currencies is 66.9%.

We have been very lucky to witness the emerge of a unique payment instrument. It is not controlled by the states; it can be easily transferred from one owner to another, without any limits and prohibitions. It cannot be printed out or multiplied in favor of any government. And its price is set exclusively by supply and demand. How it will end, no one knows and cannot predict. Let’s observe or invest, whatever is more suitable for you. In any case, I promise, you will not be bored.

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