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This page was last updated: 20th Nov 2020.
- 20th November 2020 - now the price is
over $18000 and still rising due to many factors not least:
DID YOU KNOW?
Bitcoin is the first
digital currency and was the gold-standard against which other newer digital
coins were measured, and still are, if it fails then its very
likely the rest would follow. It took 12years to mine (find)
18.5m coins (the max is 21m), the remainder will take longer
as the difficulty is increasing exponentially, and so the
price can only follow unless it fails (the blockchain has
become a little large currently >300GB
https://www.statista.com/statistics/647523/worldwide-bitcoin-blockchain-size/)
but with over a decade of success I think its already proven
itself and Paypal think so too.
I invest, have profited, used and watched it grow for 11
years now (it all started 12 years ago).
I predict it will now rise massively, the available coins
is limited to 21 million and there are only 1.5m left, this
means it can only be an high exponential rise from now on.
Take a look at the graph here:
https://coinmarketcap.com/currencies/bitcoin/
DO NOT BUY directly unless you know what you are
doing, you will get hacked and your funds could vanish: poofff.
- 19th November 2013 bitcoin was accepted by the US Senate committee as a legitimate financial service and the price rocketed again above $900:
http://www.bbc.co.uk/news/technology-24986264
The same day saw the volume of transactions over take Western Union:
http://imgur.com/asMMvxK
Take a look again and see how close it already is to PayPal!
- 22nd Nov 2013 Richard Branson has agreed to take bitcoin:
http://www.cnbc.com/id/101220710
- On the 27th November 2013 the price hit an amazing $1000 per bitcoin:
http://www.bbc.co.uk/news/technology-25120731
To find out more about Bitcoin visit: http://bitcoin.org/en/
The purchase of bitcoin, like any currency, is
speculative and the value may go up or down.
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- "Public keys" - these are used to allow you to accept funds and you can share your public key with anyone; this allows others to pay you, but they can NOT withdraw/transfer your bitcoin using your public key.
- "Private keys" - ensure your private key is never seen on The Internet until you are ready to spend your bitcoin. Take care as malware on your computer could find and use your private key to transfer away your bitcoin! Once used never use again and transfer out all your bitcoin, read more on understanding paper wallets
- Printing of wallets: ensure they are printed on a computer which is NOT connected to The Internet (air-gapped), which means the private key has never seen The Internet. Please be wary of anyone selling you paper wallets which have been printed on a computer connected to The Internet, your investment WILL be compromised.
- Storing bitcoin on exchanges is not recommended (at least not large amounts). It is better and safer to transfer the bitcoin out to a paper wallet.
- When buying, investing, large amounts in bitcoin (>£1000) it is better and safer to use a well known exchange such as Bitstamp or MtGox - these main exchanges are more costly to use from the UK (transfer fees, etc) and will take at least a week to setup a new account. Do not be tempted to use one of the smaller exchanges without FULLY checking them out. There are many new exchanges offering too much to be true - TAKE CARE!
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