#FavoriteToken $BTC $BTC What is Bitcoin?

Bitcoin is a digital currency secured by cryptography, which is transacted outside the jurisdiction of a central authority. This currency was created in 2009 by a mysterious person who called himself Satoshi Nakamoto, and the currency was introduced primarily to be used in payment operations that are not subject to government oversight, transaction fees, or delays in transfers - unlike traditional currencies. .

Back in 2010, the price of Bitcoin was about 0.003 cents per coin. In October 2017, the price of the coin rose to $4,200 - although this value has seen fluctuations, with frequent swinging daily movements. At this time, hundreds of other virtual currencies have emerged, each with its own advantages and applications. However, few of these currencies have significant value, but Bitcoin has competitors in the form of Ether and Bitcoin Cash, as well as Litecoin to a lesser extent.

Commodity or currency?

Bitcoin was initially created as a payment method, and in some specific cases it works exactly as intended. However, it lacks widespread distribution, in addition to the fact that it is currently witnessing a state of great fluctuations to be considered a real alternative to paper currency: sellers need to constantly review their prices to deal with fluctuating movements in its value.