The Rise of Bitcoin
If you thought the universal currency faded since reaching record-heights in 2013/2014, you’d be surprised to know that it’s currently sitting at a healthy $656 USD/bitcoin – up from $460/bitcoin two months ago. There’s no denying that the crypto-currency has experienced ups and downs since its birth in 2009, when 10,000 bitcoins went toward the purchase of two pizzas. But on the whole, the value of bitcoins is increasing, and it’s increasing quickly.
In 2009, a Norwegian man by the name of Kristoffer Koch, bought 5,000 bitcoins for 150 kroner (approximately $27). He came across the crypto-currency while writing a thesis on encryption, but the investment slipped his mind until the media covered it four years later. By that time, his bitcoins increased to $886,000. Koch managed to purchase an apartment in Toyen with the profits.
Since then, there have been many more stories of bitcoin investors capitalizing on the currency, including the story of Olaf Carlson-Wee. Hired as the Head of Special Projects for Coinbase, a Bitcoin start-up, Carlson-Wee elected to be paid purely in bitcoin and has been living on the currency for three years. While finding vendors who would accept bitcoins as payment was challenging in 2009, it’s much easier now.
Currently, 705 Bitcoin ATMs are operating in 51 different countries, with 359 servicing the U Designer Handtaschen zu verkaufen S. The machines offer an easy way to buy, sell and withdraw the currency, but you don’t need to live near an ATM to adopt the new currency. Currency exchange service providers make setting up a digital wallet easy. Kraken, a company founded in San Francisco, has been servicing digital wallets since 2011.
With globalization looming, the idea of a currency that can be traded world-wide easily, is gaining traction. To celebrate, Café Casino is offering a free $100 chip for first-time bitcoin deposits. If this interests you, act quick because the promotion is running until July 31, 2016 at 11:59 PM ET.