The history of cryptocurrencies dates back almost 10 years. The first concept of the first cryptocurrency, was developed in 2008. The inventor or group appeared under the pseudonym Satoshi Nakamoto, so the name is unknown to date.

digital currency
Bitcoin Digital and Modern Currency

History of Cryptocurrencies – Bitcoin as the first Digital Currency

The history of cryptocurrencies is also the history of Bitcoin. Bitcoin is the first digital currency in history and continues to be the world’s best-known cryptocurrency. CFD is a complex tool, and its leverage increases the risk of losing money quickly. 74-89% of individual investor accounts lose money in commercial CFDs.

The history Currency

Satoshi Nakamoto then spent another ten years developing the first concept of Bitcoin trading technique is unique as a digital and liquid currency. The Bitcoin network itself was launched a year later in 2009.

In January of the year then the first 50 Bitcoin were the so-called Mining mined. At that time, surely no one suspected what enormous increases in value there would be in the future with Bitcoin alone, because a coin had a value of the equivalent of less than one cent then.  More detail is available here

Another cryptocurrency two years after the introduction of Bitcoin

After the introduction of Bitcoin, it took two more years to develop another cryptocurrency with the Litecoin. Overall, The currency were just over 10 in 2014, but “hype” began in 2015 and started slowly. The oldest digital currency exchange in history.A little easier to get to the example at the platform of Bitcoin s approach.

Registering there is just as easy as opening a call money account. However, the Bitcoins are then stored on the platform, you do not save them yourself on your cell phone or compute

How Does This Currency Work

The history of Bitcoin is representative of the history of cryptocurrencies themselves. Therefore, looking at the history of digital currency definitely includes looking at the price developments that Bitcoin has undertaken in the last eight years.

However, in the first year, 2009, the Swiss franc had no value relationship with any known central bank currency yet. It was until 2010 that some market participants started to invest Bitcoin against the US dollar. Between 2010 and 2013, bitcoin rarely exceeded the value of one dollar or one franc, except for short intermediate hops.

However, the value dropped back to below CHF 500 relatively quickly. A bitcoin did not reach the $ 1,000 or franc mark sustainably until the beginning of January this year (2017). Then it went up steeply at the end of 2018 and a single Bitcoin had a value of almost 20,000 Swiss Francs.

The value of a bitcoin that you can trade on a crypto coin exchange has increased almost tenfold this year. For example, if you had bought bitcoins only for CHF 100 5 years ago, in 2012, you would be a multiple CHF millionaire today for bitcoin successful trading.

Development of Bitcoin from 2019

As mentioned before, the price of Bitcoin was around CHF 3,800 at the end of 2018. In the next few months, i.e. in the 1st and 2nd quarter of 2019, there was an enormous price increase. By mid-2019, the price of Bitcoin had peaked at over CHF 12,000. In mid-June, the highest price was just over CHF 12,500 per Bitcoin. At the end of last year (2019), however, Bitcoin closed again significantly lower at a price of less than CHF 7,500.

Examples of This Currency

The blockchain is made up of all transactions, and therefore of all blocks designed by users. Other users do not have access to this block and therefore cannot modify its content. As you can see, the other people in the Blockchain cannot take your Bitcoins. If cryptocurrency escapes all control of an official body, like a bank, Bitcoin does not evolve in an anarchic universe without faith and law.

These are all active developers of the Blockchain network who validate and vouch for each exchange. In order for an individual to modify a blockchain, he needs the approval of all the other members of the Blockchain, which is impossible. If the authority is decentralized, it is not nonetheless nonexistent.

Similarly, the Blockchain is not stored on single servers but on all the computers on the network through common system in finance.