Bitcoin Then and Now

Rohan Mathew

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If there’s one thing we know for certain about Bitcoin it’s that the cryptocurrency is currently blowing the competition out of the water. The popular coin has hit a new high in terms of price, and now more than ever, people are taking an interest in what Bitcoin can do for them. It’s safe to say that Bitcoin is doing incredibly well today, but that doesn’t mean that getting to where it is now wasn’t a long road. The cryptocurrency has gone through a lot of changes in the decade it’s been out and it’s evolved beyond anyone’s expectations! If you’re wondering what the biggest differences in the Bitcoin circuit then and now are, here are the main few.

Then: Bitcoin Mining Was at the Top

When Bitcoin first made its way into the world, there were only a few ways to get it. With options scarce, most people went for a particular option that proved to be quite profitable – Bitcoin mining. By helping solve complex puzzles for the blockchain, users could obtain pretty hefty Bitcoin rewards they’d later sell for big returns! The good thing about this method was that it wasn’t too hard to do. All people needed to mine a nice sum of Bitcoin was a bit of time and a higher-end PC to push through the process.

As you probably already know, Bitcoin mining isn’t what it used to be back in the day. What was once one of the top ways to earn Bitcoin is now mainly a viable option exclusively for bigger organizations and firms. Due to the Bitcoin halving events over the years and a few other factors, mining Bitcoin can now take a lot more investment. Miners need much better equipment to get things going and need to keep things running for a lot longer if they want to turn a profit. Unfortunately, this option is usually too costly for most regular people.

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Now: Bitcoin Trading Is the Go-To

Much like Bitcoin mining, Bitcoin trading has been there since the very start. Like mining, Bitcoin trading was regarded as one of the best ways to profit off of Bitcoin. Luckily, Bitcoin trading hasn’t only stuck around, but it’s improved by a mile! Anyone can get into Bitcoin trading these days thanks to trading platforms like the one you’ll find on the official Bitcoin Rejoin Website. These excellent tools are a great way for newbies to learn the ins and outs of the Bitcoin trading process and benefit from the great features they offer, such as the option to automate the trading process!

Knowing this, it’s easy to see why so many Bitcoin enthusiasts today and turning to Bitcoin trading as the go-to method of acquiring Bitcoin. Naturally, the internet has also played a hand in getting Bitcoin trading to the top of the list. Thanks to the abundance of information the World Wide Web hosts, Bitcoin trading can be a fun venture. There are hundreds of blogs filled with guides, strategies, and tips that traders can take advantage of to maximize their earning potential.

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Then: Bitcoin Was Shrouded in Mystery

If you’re someone who followed Bitcoin pretty closely over the years, you’ve probably noticed the gradual acceptance of it throughout the world. While Bitcoin is doing pretty well these days when it comes to public opinion, this wasn’t always the case. Bitcoin and blockchain were pretty novel technologies back in 2009, and not many were familiar with what they could do. The lack of information on Bitcoin also wasn’t doing it any favors. With stories of people becoming overnight successes thanks to it starting to spread, many drew their conclusions.

Unfortunately, most of these conclusions were very negative and came from a place of fear and ignorance. People either assumed that Bitcoin was dangerous or that it was created for the tech-savvy crowd. What’s worse, a lot of the mainstream media took these stories and ran with them! Thankfully, things started to change for the better. Information on Bitcoin is now widely available online, so many of these misconceptions and myths are known to be just that.

Now: Bitcoin Is Becoming Mainstream

While many examples prove Bitcoin is making its way into the mainstream, the best one we can use is its recent expansion to new markets. With retailers and service providers realizing the benefits of incorporating Bitcoin into their payment systems, we’ve seen many popular shops accept the cryptocurrency with open arms. Right now, Bitcoin users are free to shop for groceries, clothing, video games, and even book travel using their crypto savings! There’s still a long way to go before Bitcoin is truly everywhere, but the progress it’s made already is pretty incredible.