Bitcoin Taking Dramatic Steps Down In Worth

Bitcoin Taking Dramatic Steps Down In Worth

By David Marquez, Reporter

Bitcoin, the leading cryptocurrency, has shot up in price per coin since its initial value of $0.08. Since its release on March 17, 2010, Bitcoin has continued growing in price, being thought of as a currency of the future.

At a point in 2010 a single Bitcoin could be sold for $0.01 or less. The first real-world transaction using Bitcoin is where a man bought two pizzas for 10,000 Bitcoins.

On December 15, 2017, seven years after the bitcoin was invented the price surged up to $17,900. However, it has been rapidly declining going from its high of $17,900 to $6,414 presently. 

Cryptocurrency is a digitally made currency designed to be used for exchange. It uses cryptography verify and secure transactions as well as controlling the production of the currency.

A lot of people have become wealthy from Bitcoin, in the sense of mining it. People will use their computing power to solve complicated puzzles with their difficulty ever increasing. When finishing a puzzle a person is rewarded with Bitcoins.