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.
BTCUSDT (-0.27%)
$16,946.00
December 3, 2022, 11:04 am [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: December 3, 2022, 10:58 am
›› 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 token. 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
BTC, BTC/USD, BTC/EUR, BTC/JPY
BTC/DAI, BTC/GUSD, BTC/USD
BTC/EUR, BTC/GBP, BTC/USD, BTC/USDT
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/AUD CFDs, BTC/BYN CFDs, BTC/BYN CFDs, BTC/CAD CFDs, BTC/CHF CFDs, BTC/CHF CFDs, BTC/CZK CFDs, BTC/DKK CFDs, BTC/EUR CFDs, BTC/GBP CFDs, BTC/HUF CFDs, BTC/HUF CFDs, BTC/ILS CFDs, BTC/JPY CFDs, BTC/JPY CFDs, BTC/MXN CFDs, BTC/NOK CFDs, BTC/NZD CFDs, BTC/RON CFDs, BTC/SEK CFDs, BTC/SGD CFDs, BTC/TRY CFDs, BTC/USD CFDs, BTC/ZAR CFDs
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/EUR, BTC/LINK, BTC/LTC, BTC/USD, BTC/USDT
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/EUR, BTC/LINK, BTC/LTC, BTC/USD, BTC/USDT
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/EUR CFDs, BTC/USD CFDs
BTC/USDT, BTC/USDT
BTC/USD, BTC/ETH, BTC/DASH, BTC/LTC, BTC/BCH
BTC/USD, BTC/AUD, BTC/AED, BTC/CAD, BTC/CHF, BTC/EUR, BTC/GBP, BTC/JPY
BTC/USD, BTC/ETH, BTC/BCH, BTC/XRP, BTC/DASH, BTC/LTC, BTC/ETC, BTC/CRO, BTC/SKL, BTC/IMX, BTC/ADA
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
 

Bitcoin details and tokenomics

Bitcoin Ticker: BTC
Contract address: n/a
Type of crypto: bitcoin-token
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
    Bitcoin to $10k in 2023 before bull market turn?Bitcoin to $10k in 2023 before bull market turn?
    Saturday, 3 Dec 2022 11:03 am
    Some insiders are speculating that Bitcoin (BTC) may hit as low as $10,000 in Q1 of 2023, or even this December, which would represent the bottom of the bear market. Mark Mobius of Mobius Capital Partners claims the appeal of holding the crypto has weakened at present due to it not accumulating interest alongside general macroeconomic factors. On a positive note, 2023 should also see accumulation beginning before the Bitcoin Halving event of spring 2024. Want to start investing earlier in a diverse array of assets? Sign up for Skilling now!...
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    Telegram now accepts crypto trading with BTC and TONTelegram now accepts crypto trading with BTC and TON
    Monday, 28 Nov 2022 3:24 pm
    The native token of Telegram, TON, that was later run by a separate group outside the founders, can now be traded on Telegram along with Bitcoin (BTC). Those using the Telegram app can now both buy and sell crypto. The use case has been developed by The Open Network, which used to be called Telegram Open Network. For everyone looking to trade more than two coins or tokens, while looking for the best possible spread, check out Kucoin where you can trade TON...
    Read the full newsflash


    Bitcoin miner capitulation on the cards?Bitcoin miner capitulation on the cards?
    Monday, 28 Nov 2022 9:13 am
    As November draws to a close, there are rumors circulating about a potential miner capitulation which would drive the price of Bitcoin (BTC) to potential lows. This can be seen as a negative for some, but for bear market investors seeking the bottom it could be seen as a positive. BTC.com and online analysts say miners are seeing a squeeze when it comes to selling accumulated Bitcoin at a profit. As Bitcoin tends to drive the entire crypto space, could more upheaval be on the cards for the final month of Q4? Want to accumulate Bitcoin before the next bull market? Sign up for Crypto.com Exchange now!...
    Read the full newsflash


    World's largest Bitcoin fund may be in trouble...World's largest Bitcoin fund may be in trouble...
    Friday, 18 Nov 2022 8:52 am
    The apparent collapse and liquidation of the Greyscale Bitcoin Trust could cause a sharp drop in Bitcoin (BTC) prices. In a knock-on effect from the FTX chaos, there are rumours that the company is in trouble. The reason why it could cause a big drop in Bitcoin (and therefore the market in general) is because they apparently hold almost 4% of the world's BTC. But, a drop in price could be a signal to buy. Want to try? Sign up for Coinbase here...
    Read the full newsflash


    A Bitcoin a day, El Presidente sayA Bitcoin a day, El Presidente say
    Thursday, 17 Nov 2022 2:21 pm
    The apparent collapse and liquidation of the Greyscale Bitcoin Trust could cause a sharp drop in Bitcoin (BTC) prices. In a knock-on effect from the FTX chaos, there are rumours that the company is in trouble. The reason why it could cause a big drop in Bitcoin (and therefore the market in general) is because they apparently hold almost 4% of the world's BTC. But, a drop in price could be a signal to buy. Want to try? Sign up for Coinbase here

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