Learn more about Bitcoin, what it is, the current price, market cap and all the latest news. Visit Coin Culture for the latest Cryptocurrency news.
The live price of Bitcoin is $117,300.51 per (Bitcoin / AUD) today with a current market cap of A$ $2,322.12 B. Bitcoin to AUD price is updated in real-time. Bitcoin is -0.11% down in the last 24 hours.
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Bitcoin (BTC)- Live Price $117,300.51
- 24h % -0.11%
- Market Cap $2,322.12 B
- Volume $91.79 B
- ATH $119,143.31
- High 24H $119,143.31
- Low 24H $115,378.67
- Available Supply 19.78 M BTC
- Rank 1
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Bitcoin is easily the most popular cryptocurrency in the world. It is in fact the cryptocurrency that started it all. Many people that are just getting started with cryptocurrency first start by investing in Bitcoin. Below we take a closer look at Bitcoin, it's history, and why you should consider using Bitcoin.
Who invented Bitcoin?
Bitcoin is a digital currency that is believed to have been invented by Satoshi Nakamoto in 2009. Nakamoto is said to have invented digital currency as an alternative to traditional currencies.
Unlike other traditional currencies, Bitcoin does not belong to any state. It is therefore not controlled by any government. The value of the currency cannot, therefore, be manipulated by governments or other key players in the country’s economy. Its value is purely based on market demand and supply.
While credit for creating the digital currency is given to Nakamoto, this person continues to be a mystery to this day. A look into the history of Bitcoin will reveal that many people have been associated with this persona including Hal Finney, Dorian Nakamoto, and Craig Wright, an Australian businessman and academic. However, the true identity of Nakamoto still remains a mystery.
Benefits of using Bitcoin
There are many reasons why using bitcoin is a good option.
- It’s easy
Transferring bitcoin to make payments or buying and selling is quite easy. It is as simple as sending an email. You can complete transactions in a matter of seconds.
- Avoid counterfeits
Many people have been scammed in transactions as a result of the use of counterfeits. You can avoid losing your hard-earned money by investing in bitcoin. Bitcoin is harder to counterfeit.
- Cut out third parties
You can lower the costs of transactions by using Bitcoin to cut out third parties such as banks and governments. You have full control of your finances and can transact as you see fit.
- Maintain anonymity
Transacting with Bitcoin allows you to maintain anonymity. The transactions cannot be linked to any personally-identifying information. Therefore, they cannot be traced to any particular individual.
Bitcoin Supply
One of the reasons Bitcoin’s value is so high is due to the limited supply of coins. Bitcoin was designed to be similar to digital gold. Like physical gold, the quantity of Bitcoin is limited. In fact, the maximum supply of bitcoins that can be issued is 21 million.
It should be noted that new bitcoins are added to the supply every 10 minutes by miners all over the world. When the supply of bitcoins reaches the upper limit of 21 million, there will be no additional coins generated. This means that miners will only be able to earn money from transaction fees. As of January 2022, the total number of bitcoins issued had hit 18.9 million. That means that there are about 2.1 million bitcoins yet to be released.
