Bitcoin: top 5 questions

Written by Anna Komashko
Written by
Investing reporter
ECOS community manager...
2   min.
Actual news 

When did Bitcoin (BTC) start?

Bitcoin was invented in 2008 and released as open-source software in early 2009.2 The first transaction took place between Nakamoto and an early adopter of BTC in January 2009. The first real-world transaction happened in 2010 when a BTC miner bought two pizzas from a Papa John’s in Florida for 10,000 BTC.

Who created Bitcoin?

Bitcoin was created by Satoshi Nakamoto, (almost certainly) a pseudonym, that no one has been able to conclusively connect to an actual person or group of people to this day. Nakamoto vanished from the internet in 2011, leaving few clues as to who they might be. Over the years, many people have publicly claimed to be Satoshi, all failing to support the statement with indisputable facts.

What is BTC worth?

At the risk of stating the obvious, a bitcoin is worth whatever someone will pay for it. If we narrow the question down a bit to “how many dollars can I get by selling a bitcoin?”, then you can always find the current cryptocurrency rate on our website in the lower right corner.

What can you buy with BTC?

— Nowadays, you can buy a lot with BTC. We have highlighted the most popular areas and their main representatives:
— Charity (WikiLeaks, Wikipedia)
— eCommerce (Amazon, Etsy, Shopify)
— Electronics (AT&T, NewEgg)
— Food (Burger King, KFC, Subway)
— Games (Minecraft, PlayStation, Xbox)
— Web Services (Twitch, WordPress)
— Holidays (Norwegian Air, Webjet)

Why is BTC going up?

As we mentioned earlier, the value of BTC largely depends on the number of people willing to buy and sell it. This is how the market economy works. And given the popularity of BTC as a financial asset, the number of buyers is constantly growing. The more people learn about it, the more they buy. This is the main reason for the growth of cryptocurrency. People believe in bitcoin.

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