Bitcoin

                                Bitcoin

History

On 18 August 2008, the domain name bitcoin.org was registered. Later that year on 31 October, a link to a paper authored by Satoshi Nakamoto titledBitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. ... In the early days, Nakamoto is estimated to have mined 1 millionbitcoins. buy bitcoin new bitcoin

Supply and Demand

The general answer to “why this price?” is “supply and demand.” Price discovery occurs at the meeting point between demand from buyers and supply of sellers. Adapting this model to Bitcoin, it’s clear that the majority of supply is controlled by early adopters and miners.

Demand

With the current mining reward of 12.5 BTC per block solution, Bitcoin supply is inflating at around 4% annually. This rate will drop sharply in 2020, when the next reward halving occurs. That Bitcoin’s price is rising despite such high inflation (and that it rose in the past when the reward was 50 BTC!) indicates extremely strong demand. Every day, buyers absorb the thousands of coins offered by miners and other sellers.

bitcoin price 2009 to 2016 Chart

The chart below display’s Bitcoin’s price throughout any given timeframe. The numbers on the graph represent historical events that seemingly affected Bitcoin’s price at that time. The list of events is detailed below. Click on a number on the chart and you will be transferred to the corresponding event.