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When you hear the word Bitcoin, you immediately think of early 00s newspaper headlines. Most people believe that the Bitcoin Revolution is over and done. The truth is that nothing is over quite yet. Instead, the millennial generation simply got used to the fact that bitcoin was worth thousands of pounds.
A Bit of Bitcoin History
Bitcoin.org was created back in 2008. It was marketed as a new form of currency which would negate the need for exchanging currency from country to country. The aim of a cryptocurrency is to become a universal currency with no exchange rate.
More than a decade later the Bitcoin network is still going strong. Although officially launched in 2009, the blockchain technology used to create it has been developing ever since.
The reason bitcoin has so much staying power is because of the security of the tokens. Coins must be mined by multiple computers working in sync. This takes a lot of processing power but also has the bonus of being a lot safer than any data stored on a single system.
Competition On the Horizon
Of course, bitcoin isn’t the only cryptocurrency which has shown its staying power. The key contender to be the next big cryptocurrency is Ethereum, closely followed by Litecoin. However, millennials and gen Z have been proving that they aren’t willing to stick to traditional marketing values.
What do we mean by that? Let’s give a couple of examples. The recent rise of dogecoin is a good starting place. Dogecoin is a cryptocurrency which is created in a similar way to Bitcoin, but which is based on a meme. The coin features the dog from the meme wide-eyed and staring. It’s funny, but it’s no way to operate a business.
In another excellent example, gen Z amateur stockbrokers went against the will of traditional brokers. Amateurs on Reddit discovered that a hedge fund had borrowed thousands of shares in GameStop’s company because they expected the stock to drop in value. This is a typical move in which stockbrokers make money.
Instead, Reddit users purchased as many shares in GameStop as they possibly could. This sent the price skyrocketing by 300% overnight. The hedge fund that had borrowed against the loss then had an increase to deal with. It cost a lot of people a lot of money and made them incredibly angry indeed.
But by God, was it clever.
How Can You Get Involved in Bitcoin?
Bitcoin can be tricky to understand. Cryptocurrency took years to figure out, and we haven’t mastered it just yet. Understandably, we don’t all comprehend it fully.
However, a lack of complete comprehension does not mean that we can’t get involved as laymen. We could take advantage of a turnkey service, such as that offered by PEGA mining.
These turnkey services allow inexperienced users to get involved in the Bitcoin game. It’s easy to use, simple to understand, and one of the quickest ways to start mining your cryptocurrency today.
Bitcoins are not over yet, so get some.