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Bitcoin is the most popular and the most trusted cryptocurrency. Unrivaled market capitalization makes it the number one choice among both beginners and experienced investors. Called digital gold, Bitcoin has become a symbol of financial freedom and the currency of the future.
Bitcoin is a digital cryptographic currency (cryptocurrency) based on the Peer-to-Peer network, operating in blockchain technology. It is identified by the code BTC and the symbol ?. The first block in the Bitcoin chain was mined by the creator of the network, a person or team hiding under the pseudonym Satoshi Nakamoto. The resolved block paid 50 Bitcoins, but the prize - how precious it would be - turned out to be less interesting than the block created by Satoshi himself. It is often referred to as the Zero Block (due to the two extra hexes zeros starting the code) or as the Genesis Block. It was an amazing set of data that not only initiated the Bitcoin revolution, but also included suggestions and tips that created the legend of cryptocurrencies and its creator ... or creators.
Above all, the block hash contained the encrypted text "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks", from which you can deduce several facts. First of all, the text inscribed in the block code is a headline from the cover of the British newspaper The Times of January 3, 2009, which clearly indicates that the first block was created no earlier than that date. Considering that the source code of the Bitcoin system is public, it is unquestionable proof that, before it was mined, there were no Bitcoins in circulation. In addition, the selection of this particular headline is often interpreted as a banking critique based on a partial reserve system. The last thing that reveals the Genesis Block is the estimated location of the BTC creator himself. The fact that a British daily newspaper was used suggests that Satoshi resides or stayed in Great Britain while creating the first block of the Bitcoin chain. The cover itself has become a collector's item, and the last copy of the newspaper sold reached the price of $3,500.
Generating a second BTC transaction block took 6 days and coincided with the publication of the source code and the Bitcoin client. In connection with the mysterious, even legendary person of Satoshi, speculation appeared that the 7-day process is a reference to the myth of creation described in the Book of Genesis, from where Block Zero takes its second colloquial name. It is more likely that Nakamoto spent this time perfecting the Bitcoin code before publishing. An expression of gratitude for his work is the naming of the smallest nominal value of a Bitcoin - one millionth - as a "Satoshi". Choosing such a small value is just as symbolic as the entire persona of the creator of the digital currency. Bitcoin is a P2P network, and an open-source program, where every user contributes to the community and the BTC currency itself. Satoshi Nakamoto deliberately kept himself in the shadow, so he would probably have preferred to remain only a small part of Bitcoin.
Cryptocurrencies came to Poland more or less at the same time that the rest of Europe accepted them. The first BTC/PLN exchange was an unattended activity on thematic forums, consisting in individual transactions between users. The first organized cryptocurrency exchange allowing Bitcoin/PLN transactions was established in 2011 - the bitomat.pl site, which is no longer working, it's operations discouraged many Polish investors due to an alleged DDoS attack on its servers. In the attack statement, the website owner wrote: _"[...] the entire virtual machine has been deleted, all the data stored on the server has been lost! Including BTC wallet records and backups." Bitcoin's price was around PLN 40 at that time, with investors often being seen with an indulgent smile. The loss of 17,000 bitcoins stored in the BTC exchange (then around PLN 600,000) was extremely painful back then. Given that Bitcoin has since peaked at approximately USD 19 343 or PLN 66 247, the losses amounted to over PLN 1 billion.
Currently, investors in Poland and around the world are approaching bitcoin exchanges with much greater caution - examining their security, their reputation among experienced specialists and many other criteria. Reliable parties now have a well-established market position, but potential buyers are still facing challenges, mostly in connection with the constantly fluctuating Bitcoin rate. Like any investment, cryptocurrencies involve risks, but they open up endless investment opportunities. Polish bitcoin exchanges create ideal conditions in which to start investing, because most of them support and accept BTC/PLN rates, but also EUR and USD.
Although Bitcoin is the safest of the long-term investment options, it is also worth considering cheaper alternatives, such as Bitcoin Cash or Bitcoin Gold. The Bitcoin rate has been changing, falling and rising over the last 9 years. An investment in digital currency is now an investment in the future - literally and figuratively.
As of January 2018, the market value of Bitcoin amounted to PLN 802,582,118,003.