Review on Bitcoin by Temitope Babatunde
Bitcoin the Cryptocurrencies King.
Bitcoin was founded by Satoshi Nakamoto, though nobody can say who is bearing the name because after introducing this number one cryptocurrency into the world in 2009 he disappeared, since then effort to locate who the man really is proof abortive.
Meanwhile bitcoin is doing greatly with 0$ value back then in 2009 to almost $9000 today, even the all time high is above $19000. With coinmarketcap bitcoin occupy number one in terms of market capitalization. It has been so popular that to some when talking about cryptocurrencies you are talk about bitcoin.
Bitcoin can be mine through the protocol of power of work (pow) and the miner are been rẹwarded with the block. There is bitcoin halving in every four four years, meaning that the reward for miners will be cut by 1/2. There are lot of exchangs where you can exchange bitcoin for other coins or fiat currency. Almost all the crypto wallet supported bitcoin
Pros
- The maximum number that can ever be mine is fixed, which means it has the potential to grow.
- It is a decentralized means of exchange
- It is deflationary in value.
Cons
- Mining it is capital intensive
- It is not fast comparing it to other coins.
- Though it is decentralized but it doesn't have privacy.
