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Bitcoin (BTC) Review (9.5/10⭐)

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Bitcoin has been a hot topic for years now, generating an enormous amount of coverage and discussion. You may have heard about it on the news, but what is it really? What's the hype all about? Is it a good time to buy Bitcoin? And what about the current price estimates for Bitcoin? In this article, we will answer those questions and more as we delve into the world of BTC and cover some of the pros and cons of owning and using this cryptocurrency.
BTC/USD (5.14%)
$65,373.00
March 4, 2024, 12:19 pm [UTC]


Visitor Consensus on Bitcoin Today
Positive: 53.13%Negative: 46.87%
What's your view on Bitcoin today?
 
›› Buy/Sell Bitcoin here

 

Unless you've been living inside a cave for 10 years, you've likely heard about Bitcoin (BTC). The world's most famous cryptocurrency is based on proof of work and is seen as a store of value for many investors.

 

A Bit About Bitcoin

Bitcoin is a cryptocurrency and an online payment system that was invented in 2009 by an unknown person or group known as Satoshi Nakamoto. It was designed to replace traditional currencies and overcome some of the shortcomings of other currencies like cash, with no transaction limits and lower fees. At the time, there were no smartphones, and there wasn't widespread internet usage which would be one of the reasons technology allowed this virtual currency to exist.

Bitcoin is the world's most well-known cryptocurrency; easy to transact at a low cost & often seen as a digital store of value.CryptoLists.com
 

Like a digital form of gold, Bitcoins must be mined. But, how does Bitcoin mining Work? BTC mining is the method of verifying and adding transactions to the blockchain, which is a public record. While computers are running BTC software to do this work, any processing power that views or executes a transaction will be rewarded with newly created BTCs. This incentive system helps keep the process secure by encouraging distributed verification among network participants rather than requiring trust in central management. The method of mining BTCs is purposefully designed to be resource-intensive and challenging for miners to find the same number of blocks every day. To be considered valid, each block must have proof of work. When additional BTC nodes receive a block, they verify this proof of work. The hashcash proof-of-work function is used by Bitcoin.

 

Utility of Bitcoin?

It's the worlds most popular cryptocurrency, with the highest volume. BTC is also seen as an alternative store of value, so it can be good to have a little in your portfolio to hedge against inflation. Many people see it as a digital version of gold.

Bitcoin Price details




Very speculative and theoretical potential data
Last updated: March 4, 2024, 12:19 pm
›› BTC tokenomics and social media
 

Advantages of Bitcoin

+ The worlds most reputable cryptocurrency.
+ Popular as store of value.
+ Ease of Use.
+ Privacy and Anonymity
+ Currently, BTC trades at a lower price then end of last year.
 

Disadvantages

- Could have way quicker transaction time.
- Storage of BTC is not very safe without a hardware wallet.
- Bitcoin's value can be rather volatile.
- It's still not that widely accepted.
- Other coins perhaps have better utility.
 

Costs

▪ Rated at 9/10

While Bitcoin transactions aren't necessarily the cheapest, it's mainly the time that represents the main negative factor. Many people prefer to use a scaling solution such as the Lightning network for faster and even cheaper transactions. Bitcoin might be the most famous of the cryptos, but others have come along since that are a lot faster and cheaper in terms of day-to-day utility.

 

Reputation and Buzz

▪ Reputation rated at 10/10
▪ Buzz rated at 10/10

It's the most well-known cryptocurrency in the world, so buzz is not an issue. The reputation is solid and Bitcoin's brand name is super strong.

 

Some of the developers involved in Bitcoin

▪ Rated at 8/10
The logos below represent some of the developers who have been involved in Bitcoin. Check out the developer about page, by clicking the logo. There you can see what coins they have developed and at what exchanges, brokers and trading platforms their coins are available.
Satoshi Nakamoto logo 

FAQ

What is the price estimates for Bitcoin?

Below are some of the most recent price predictions for BTC.

Date: 9/2, 2022: Research Firm: Fsinsight. Who? Tom Lee. Price target: $200 000.
Date: 25/5, 2022. Bank: JP Morgan. Price target: $48 640, 2023.
Date: 15/10, 2021. Fund: Ark Funds. Person: Cathie Wood. Price target: $500 000 in 2026.
Date: Beginning of 2022. Who: Bloomberg Intelligence. Price target: 100 000 USD for 2025.
Date: January, 2022. Who: Bill Miller. Price target: 100 000 by 2025.

How do you evaluate if you are buying BTC at the right time?

There is no way of knowing when to buy Bitcoin or when it’s price is at its peak or near a downfall. While you can follow some analysts and opinionated posts on the internet, the only reasonable way to determine when to buy is with real-time data from reliable sources such as BTC charts. You can check the current price and how it has changed in the last month, the current price and how it has changed in the last 24 hours (updated every 1 minute), or the number of Bitcoin purchase per day. Look for information from as many sources as possible to determine if the time is right for you to follow the general trend.

What is a Bitcoin maximalist?

True Bitcoin maximalists believe that BTC is the only digital asset that will be needed. They don't think you should waste your time with other cryptocurrencies, the so called alt coins such as ETH and BNB. It's worth to note that Bitcoin maximalism is not what Satoshi Nakamoto though when creating BTC. Bitcoin maximalists find that owning you don't need any other currency.

 

History of Bitcoin

2008 (18 August) - Bitcoin.org was registered.
2008 (31 October) - Whitepaper for Bitcoin was first shared with the public.
2009 (January) - The founder Satoshi Nakamoto released the open source code and started the Bitcoin Network.
2010 - The first known commercial transaction made with Bitcoin when two pizzas were bought for 10,000 BTC.

›› Trade Bitcoin here›› Buy/Sell Bitcoin here

Screenshots from Bitcoin

Click for larger image
 

More sites where to buy/sell/trade Bitcoin

Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
BTC/USD, BTC/EUR, BTC/GBP, BTC/AUD, BTC/NZD, BTC/CAD, BTC/JPY, BTC/CHF, BTC/ZAR, BTC/HKD, BTC/SGD, BTC/NOK, BTC/SEK, BTC
›› Buy Bitcoin at eToro
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
BTC, BTC/USD, BTC/EUR, BTC/JPY
›› Buy Bitcoin at AvaTrade
Never speculate with money which you can not afford to loose. Cryptocurrencies exhibit significant volatility and remain largely unregulated within numerous European Union nations. They are not covered by European Union protections and do not fall under the purview of the EU's regulatory framework. Please be aware that investments in this sector are prone to market risks, which may include the total loss of the invested principal.
BTC/DAI, BTC/GUSD, BTC/USD
BTC/EUR, BTC/GBP, BTC/USD, BTC/USDT
›› Buy Bitcoin at CEX
Remember to never risk money that you can not afford to loose. Crypto currencies is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
BTC/USDT, BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/DAI, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/UAH, BTC/ZAR, BTC/PLN
BTC/USD, BTC/EUR, BTC/GBP
BTC/BRL, BTC/EUR, BTC/GBP, BTC/HUSD, BTC/RUB, BTC/TRY, BTC/USDC
BTC/ETH, BTC/ADA, BTC/LTC, VIO/BTC
BTC, BTC/EUR, BTC/EUR, BTC/USDT, BTC/USD, XRP/BTC
BTC, BTC/BNB, BTC/ETH, BTC/EUR, BTC/USDT
BTC/USDT, BTC/ETH, BTC/DAI, BTC, BTC/PAX
BTC/TUSD, BTC/USDT, BTC/DAI, BTC/USDC, BTC/BRL, NRFB/BTC
BTC/ETH, BTC/USD
BTC/USDT, BTC
BTC/ETH, BTC/USDT
BTC/AUD, BTC/BCH, BTC/BNB, BTC/BUSD, BTC/CAD, BTC/DASH, BTC/DOGE, BTC/ETC, BTC/ETH, BTC/EUR, BTC/LTC, BTC/SOL, BTC/USD, BTC/USDC, BTC/USDT, BTC/XLM, BTC/XRP
BTC/USD, BTC/USDT, BTC/BUSD, BTC/USDC, BTC/UST
BTC/DAI, BTC/EURT, BTC/USDC, BTC/USDK, BTC/USDT
BTC/USDC, BTC/USDT
BTC/USDT, BTC/EUR, BTC/GBP, BTC/JPY, BTC/XAUT, BTC/EUT, BTC/MXNT, BTC/MIM
BTC/USDT, BTC/BUSD, BTC/USD
BTC/USDT, BTC/USDC
BTC/USDT, BTC/DAI
BTC/EUR CFDs, BTC/USD CFDs
BTC/USDT, BTC/USDT
BTC/USD, BTC/AUD, BTC/AED, BTC/CAD, BTC/CHF, BTC/EUR, BTC/GBP, BTC/JPY
BTC/USD, BTC/KRW, BTC/EUR, BTC/JPY, BTC/TRY, BTC/CAD, BTC/AUD, BTC/BNB, BTC/BUSD, BTC/BCH, BTC/DASH, BTC/DOGE, BTC/ETC, BTC/ETH, BTC/LTC, BTC/SOL, BTC/USDT, BTC/XRP, BTC/XLM
BTC/USDT
BTC/SEK, BTC/ETH, BTC/DOT, BTC/MATIC, BTC/LINK
 

Bitcoin details and tokenomics

Bitcoin Ticker: BTC
Contract address: n/a
Type of crypto: native-coin
Launch/ICO Date: November 1, 2011
Resources & Social media
🔗Blockchain URL: https://etherscan.io
 

Other tokens or coins to check out

Since you are interested in Bitcoin, you may also want to check out the coin(s) or token(s) below?
Bitcoin Newsflash
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    Tuesday, 12 Mar 2024 12:56 pm
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    Bitcoin smashes previous all time high: will it double soon?Bitcoin smashes previous all time high: will it double soon?
    Tuesday, 5 Mar 2024 5:48 pm
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    Bitcoin breaks 50,000 GBP barrier in ATH push!Bitcoin breaks 50,000 GBP barrier in ATH push!
    Monday, 4 Mar 2024 9:05 am
    The world's most famous cryptocurrency, Bitcoin (BTC), has surged past 50,000 GBP (appox 63,300 USD) this morning, shattering its UK all time high dependent on the pound's decreased value since 2021. However, everyone is waiting for 69,000 USD as the real figure that brings out the champagne glasses. Nevertheless, this is still cause for celebration and anticipatory buzz, of course. If you want to get in on the Bitcoin party before it's too late then sign up to Crypto.com today and get ready for some epic ups and downs in this highly exciting space...
    Read the full newsflash


    Could BTC break its all time high before the halving?Could BTC break its all time high before the halving?
    Tuesday, 27 Feb 2024 7:31 am
    In an unprecedented turn of events, it looks like Bitcoin (BTC) could break its 2021 all time high of $68,789 much earlier than anticipated by many experts and casual traders alike. Many had assumed it would pull back before April's estimated halving event and 'go sideways' with minimal volatility for a while. However, it looks like the price is set to keep going up, perhaps preceding what some in the space refer to as a 'left translated cycle'. As of this morning CET the price was around $56,500. A left translated cycle is when the four-year cycle high happens earlier than expected, in this case in 2024 as opposed to 2025. Or, perhaps this could even be laying the groundwork for a 'supercycle' that sticks to the same approximate timeline as normal but goes two or three times higher than even optimistic observers estimate. Exciting and unpredictable times ahead. If you want to get involved then sign up for a Coinbase account and use your cards...
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    Bet on sports at 96 Casino in BTC and more this weekendBet on sports at 96 Casino in BTC and more this weekend
    Saturday, 24 Feb 2024 8:00 am
    It's that time of the week again where player seek out the freshest casinos out there and we've got a corker for you from January 2024: the one and only 96 Casino (review). You can bet on loads of games using your favorite crypto coins like BTC and USDT. But what's more relevant for this weekend is that you can wager on loads of sports like boxing, ice hockey, football/soccer... you name it, 96 has it in their excellent sports betting (see all sites) section! Perhaps you think the new and improved Manchester United now part-owned by Sir Jim Ratcliffe are going to climb the table and score a truck-load of goals today while hosting Fulham at Old Trafford? Maybe you think their cross-town rivals will drop points at Bornemouth? Last but not least, perhaps you think Newcastle can nick a point or three at the Emirates? If so, stick on an accumulator and watch the BTC bounce in! Sign up to 96 now and see if you can carry on your winning streak...
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