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As new investors continue to invest and the market cap develops, Bitcoins price could become more stable.Lack of adoption by businesses. The price volatility is a huge reason that many businesses have yet to embrace Bitcoin as a type of payment. Increased consumer adoption and price stability will eventually mitigate this disadvantage.Another disadvantage is that while many individuals have heard of Bitcoin, few understand exactly what it is or how it functions.

The more we spread the word and grow the Bitcoin community, the better off our bitcoins will be.How to Purchase 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 readily purchasing Bitcoin.These days, many Bitcoin exchanges have obtained enormous investments from venture capitalists.

You can compare exchanges and see our in-depth reviews in our How to Purchase Bitcoin Guide.   Weve also listed our top two recommended options below:Coinbase launched in 2012 with the hopes of giving users an easier way to Purchase Bitcoin.   Since its launch, the San Francisco based startup is now the most commonly recommended buying option for newbies.

While they launched more recently than many of their opponents, 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 asserts for a man living in Japan born on April 5th, 1975 but there are speculations that he is actually an individual developer 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 created the first blockchain database and has been the first to fix the double spending problem other digital currency failed to.

A value of 100 is peak popularity.Google Trends constructions the chart to represent a comparative search interest to the greatest points in the chart. A value of 100 is the peak popularity for its word Bitcoin and a value of 50 means that it was half as popular at that moment.

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 the years indicates that many of the disadvantages of Bitcoin will likely dissipate as Bitcoin becomes more standard.Unsurprisingly, Bitcoins cost has grown with increased demand.

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By gaining a large number of adopters and consumers, Bitcoin has attained a network impact that attracts even more users. Users who would otherwise be apprehensive investing in a comparatively unknown and unproven digital currency are reassured by Bitcoins performance over time, 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 with the greatest market cap.

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Bitcoin can pull users greater than any other cryptocurrency becauseIt has the network effect. Bitcoins network validates its worth to newcomers and gives Bitcoin a viral growth rate.The high market cap is comforting. Bitcoins enormous market cap gives users a sense of security and stability since its harder to manipulate and less prone to extreme swings in cost.

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Many Bitcoin consumers are holding onto their bitcoins in hopes of selling them off to get an enormous profit one day. With news articles portraying Bitcoin millionaires as lucky kids who got in early, you cant blame them. For instance, if you had spent your $5 latte money on 2,000 look at this website bitcoins one morning in 2010, then they'd be worth roughly $5.4 million now.

When many people have flocked into cryptocurrencies only in search of financial gain, there are a ton of people which are only interested. Some peoples are sticking around and trying to understand what cryptos are all about. While more users increase Bitcoins network effect, more people forming in-depth understandings of cryptos additionally 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's drastically different from the fiat-based world today. This is exciting or unsettling for the huge majority. Equip yourself with the best potential resources. Become active in communities which further explore not only the technical applications of Bitcoin and other cryptos but using their overall potential to interrupt virtually every market.

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