Bitcoin started its humble journey when a mysterious person Satoshi Nakamoto published a whitepaper 15 years ago. In human life, 15 years is a big time for us as it is almost 20% of the average human life if it is taken as 75 years. It got approval from the people and soon became digital gold. Now its price is over 72000 USD which is a massive increase since it was created. I have read somewhere that a person ordered on pizza in 2009 by paying 50000 bitcoin. I think that was the most expensive food anyone could ever have ordered. Once its price was below one USD. So, it has increased millions of times since its inception. Some years ago I read on Steemit that someone predicted its price would be 100000 USD one day. Bitcoin is getting nearer to the predicted price. In that article, it was also predicted that the price of one Steem would be 100 USD someday. If that is true, I’ll become rich as well because I have 3500 SP in my account. We can’t say anything about the future. So, it may be true and may shatter our hope as well.

Governments worldwide have tried hard to prevent people from adopting cryptos. They banned cryptos, restricted their transactions through banks, and even imposed heavy taxes, but they could not stop cryptos from rising. The U.S. securities regulator, the Securities and Exchange Commission (SEC) tried to dismiss bitcoin when it rejected the application of Grayscale's spot bitcoin ETF proposal. A US court removed the order of the SEC and paved the way for a Spot Bitcoin ETC. This ETF would allow investors to invest in Bitcoin without having to buy the currency in actuality. As expected, this event boosted the morale of the crypto enthusiasts and they started investing in bitcoin. After the fall of Sam Bankman-Fried’s FTX in November 2022, bitcoin price had dropped about $16000 which was very low since it touched its all-time high price of about 67k USD.

Despite Bitcoin’s success, it is not a tool that may replace fiats. It is the tool of speculation. Unlike other blockchains like Ethereum, Polkadot, Solana, etc., it has no such properties which may be used for smart contracts, developments of dapps, and various transactions. If it had been as useful as the other cryptos, it would have replaced fiats and become the master of the money. Nevertheless, it is still the king of the cryptos. Its success is very vital for the development of other cryptos and blockchains. Decentralisation will always be a dream as governments would never allow it to happen, but it gives humanity some hope. Perhaps, someday a miracle may change the thing altogether. Who knows that?

Thanks for reading.

Source: internet