The Bitcoin Phenomenon: 10th Anniversary

Bitcoin, the world’s first cryptocurrency, celebrated its 10th anniversary on October 31st. It would not be an understatement to say that many had initially seen the technology as nothing more than a silly fad created by bored cypherpunks. But, time, money and technological advancement have proven that what had seemed like a silly hobby in the form of mining now has every chance of establishing a new economic order throughout the world.

On the seemingly so distant day of November 31st, 2008, the perpetually anonymous and infamous Satoshi Nakamoto first told the world that he was working on the world’s first p2p electronic monetary system and published the Bitcoin White Paper. 10 years have passed since then and the word Bitcoin has been firmly embedded in the minds of millions as a revolutionary digital asset. The cryptocurrency has seen its fair share of price hikes and its value has firmly settled on the mark of 6 thousand dollars. Bitcoin’s way to the top may have been a thorny one, but as we track its path, it is becoming evident that its advent is changing our world for the better.

The technology Satoshi Nakamoto introduced was first met with skepticism. And rightly so, as almost no one believed that money out of thin air could ever challenge the world’s firmly established banking system. But, as is often the case, few believed in the revolutionary technology and helped it evolve into a force that was finally capable of challenging the adage that banks are the sole and immutable rulers of world finance and monetary transactions with all their inherent bureaucracy and other shortcomings.

In 10 years, Bitcoin passed the way from a fad to technology raking in billions of dollars. The path from 10,000 BTC for two pizzas to almost $20,000 for one BTC is what legends are made of. The legend evolved into a technology with the potential to disrupt the centralized world financial economy and establish a new world economic order with free and instantaneous transfers of funds.

Bitcoin is the undisputed king of all coins. It sets the trends and the tone for the entire cryptocurrency market. Though Bitcoin has its shortcomings and the technology is far from perfect, it will remain the flagship of the crypto market for many years to come. Despite the volatility of the crypto market and seeming crypto winter that has settled on it over the past two months, institutional investors have begun injecting immense amounts of funds into Bitcoin. The reasons for such contradictory phenomena are clear and simple – Bitcoin has proven itself to be a stable long-term investment asset.
But the entry threshold for investments in Bitcoin is quite high, thus leaving many with only one choice – mining. The origin of Bitcoin in the form of mining is and will remain one of the most profitable activities for many years. And what better way to mine than with the Astra mining pool that offers the lowest entry thresholds on the market and unmatched mining capacities.