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As new investors continue to invest and the market cap grows, Bitcoins price could become more stable.Lack of adoption by businesses. The price volatility is a huge reason that many businesses have yet to adopt Bitcoin as a form of payment. Increased consumer adoption and cost stability will eventually mitigate this disadvantage.Another disadvantage is that while many individuals know of Bitcoin, few understand just what it is or how it functions.

The more we spread the word and expand the Bitcoin community, the better off our bitcoins will be.How to Purchase BitcoinAs mentioned above, in the early years of Bitcoin it was difficult to find a reliable place to Purchase the cryptocurrency.   With the increase in demand for Bitcoin, numerous new companies have sprouted to help facilitate readily purchasing Bitcoin.These days, many Bitcoin exchanges have received huge investments from venture capitalists.

You can compare exchanges and see our in-depth reviews in our How to Buy Bitcoin Guide.   Weve also recorded our best two recommended options below:Coinbase launched in 2012 with the hopes of giving users an easier way to Purchase Bitcoin.   Since its launch, the San Francisco based startup is now the most commonly recommended buying option for newbies.

While they launched more recently than many of the opponents, the New York-based cryptocurrency exchange has quickly built a Fantastic reputation in the crypto community.   You can learn more in our Gemini Review and Users Guide.Who invented BitcoinSatoshi Nakamoto is credited with designing Bitcoin. Nakamoto claims to be a man living in Japan born on April 5th, 1975 however there are speculations that he is actually an individual developer or group of programmers with a penchant for computer science and cryptography scattered around the United States or Europe.Nakamoto is thought to have created the first blockchain database and has been the first to fix the dual spending problem other digital currency failed to.

A value of 100 is summit popularity.Google Trends constructions the graph to represent a relative search interest to the highest points in the chart. A value of 100 is the peak popularity for the word Bitcoin and a value of 50 means that it had been half as hot at that moment.

Its amazing how the searches relating to Bitcoin have spiked in recent years.When Bitcoin began circulating in 2009, its early adopters consisted of developers and a niche bunch of technical people. Its prevalence over the years indicates that many of the disadvantages of Bitcoin will probably dissipate as Bitcoin page becomes more standard.Unsurprisingly, Bitcoins price has grown with increased demand.

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By gaining a large number of adopters and users, Bitcoin has achieved a network effect that attracts even more users. Users who'd otherwise be apprehensive investing in a relatively unknown and unproven digital currency have been reassured by Bitcoins performance as time passes, its growing community, and the fact that people they know are adopting cryptos.Bitcoins first mover advantage, popularity, and network effect have cemented it as the very popular cryptocurrency together with the largest market cap.

Bitcoin can attract users greater than any other cryptocurrency becauseIt has the network effect. Bitcoins network validates its worth to newcomers and gives Bitcoin a viral growth rate.The high market cap is comforting. Bitcoins enormous market cap gives users a sense of security and stability since its harder to manipulate and less prone to site extreme swings in price.

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Many Bitcoin users are holding onto their bitcoins in hopes of selling them off for an enormous profit one day. With news posts portraying Bitcoin millionaires as blessed children who got in early, you cant blame them. For example, if you'd spent your $5 latte money on 2,000 bitcoins one morning in 2010, they'd be worth roughly $5.4 million today.

When many people have flocked to cryptocurrencies only in search of financial gain, there are a ton of people that are only interested. Some peoples are sticking around and trying to understand what cryptos are all about. Even though more users increase Bitcoins network effect, more individuals forming in-depth understandings of cryptos also strengthen the active Bitcoin community.Final ThoughtsBitcoin is still a relatively young currency but it has achieved substantial try this out user adoption and growth.

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Understanding Bitcoins potential is an essential first step to seeing the brilliant solutions being worked on in the cryptocurrency world.Bitcoin paints a future that's radically different from the fiat-based world now. This is exciting or unsettling for the huge majority. Familiarize yourself with the best potential resources. Become active in communities that further research not only the technical applications of Bitcoin and other cryptos but with their general potential to interrupt virtually every economy.