It’s no secret that the world’s most popular cryptocurrency didn’t have an easy road to success. Bitcoin veterans were faced with many challenges and obstacles back in the day, all of which gave them headaches to last a lifetime!
While Bitcoin might have always been at the top of the cryptocurrency market, it didn’t always offer users the same exciting benefits that it does now, mostly because today, we’re experiencing tech innovations all around us.
There are plenty of contrasts between how some aspects of Bitcoin operated in the past compared to today, so if you’re new to the scene and eager to learn more, here are some of the biggest ones that you should know about.
Source: cryptocoinsociety
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Access to Information Was Difficult
Access to information is arguably the biggest challenge Bitcoin users had to deal with in the early days of crypto. Since Bitcoin, crypto, and blockchain were new technology, the world naturally had doubts about their promise.
Of course, much of this was justified. Information about Bitcoin was very scarce, so most people didn’t want to get involved with something they didn’t know anything about and that they could find any info on.
It also didn’t help that wild stories surrounding Bitcoin spread like wildfire! While some of them were praising the coin for its potential and possible benefits, others didn’t exactly put a positive spin on the entire subject.
These days, things are drastically different. No matter who you are, you can easily find information on Bitcoin by simply searching the web and reading more about the entire industry, as well as the strategies you could employ.
Over the years, brave Bitcoin users that tested the waters early on compiled info on everything they experienced during their endeavors. Thanks to this, we can now find everything from essential knowledge on how Bitcoin works to complicated Bitcoin trading strategies that can take years to master!
Source: hackernoon
Bitcoin Trading Was Complex
Right now, Bitcoin trading is a global massive hit, especially with trends like automated trading making their debut! Thanks to excellent software like TheNewsSpy, both newbies and veterans can enjoy a more laidback version of Bitcoin trading.
These apps use advanced AI trading robots – or AI bots for short – that analyze the markets and automatically invest for you if, of course, the opportunities look profitable! The best part about this modern Bitcoin trading option is the lack of requirements. Users don’t need any previous trading experience to start earning a passive income through automated trading.
If you’re not too familiar with the concept, Bitcoin trading has been around since the early days of Bitcoin, and even then, it was a go-to profit method for a large chunk of users. The big difference between Bitcoin trading then and now, however, was the lack of knowledge.
Most Bitcoin traders back in the day had to go in blind and trust that their investment was going to pay off. Additionally, many of the factors that affect Bitcoin’s price were still unknown then and Bitcoin trading strategies were still being tested through means of experimenting, meaning that everything was more complex.
Source: verdict
Bitcoin Earning Methods Were Scarce
One of the things we’re most grateful for these days is the abundance of choice when Bitcoin profit options are in question. In the past, Bitcoin enthusiasts only had a few options to choose from, including Bitcoin mining and Bitcoin trading.
While both of these options had immense potential, they didn’t seem viable for most of the users. People found Bitcoin mining too complicated and daunting to even try and approach it, while the risks that came with Bitcoin trading were more than some users were willing to take.
Bitcoin has grown a lot over the years, and now we have much more to choose from than just these two! New Bitcoin earning methods see the light every day, and we couldn’t be more grateful. Among some of the most popular ones you can run into today, the ones we recommend are Bitcoin games and Bitcoin freelancing.
Both of these methods are a perfect fit for newbies as they can be pretty laidback and low-effort. Naturally, if you’re willing to put in the work and possess some in-demand skills, you can go much further and end up making a fortune through Bitcoin freelancing!
Source: medium
Bitcoin Value Was Close to Nothing
Today, Bitcoin is worth more than 54.000 dollars, however, it wasn’t always like this. In the early days of this cryptocurrency – 2009 – it was worth basically nothing. By May of 2010, people could trade it for less than $0.01.
As it started gaining popularity, it also started gaining value, and by November 2013, it would take someone 350 to 1200 dollars to purchase Bitcoin. From there, the value only increased with regular up and downs, like all the other industries out there.
According to a wide range of experts and published research papers, it’s estimated that Bitcoin’s value will cross 100.000 dollars by 2030, but these predictions were based on data gathered in 2020, which suggests that its value could be even higher in the future.
Source: Bitcoinist.com
Sending Thousands of Bitcoins Was Normal
As you probably know, today, there are only 18.691.925 Bitcoins in existence, a number that is changing every ten minutes when new blocks are mined. Once the limit is reached, no more tokens can be created, hence, traders can collect fees for the work they have done.
Large transactions aren’t popular nowadays, however, at the beginning of this digital currency, large transactions were normal. In fact, the fees were incredibly low, costing people less than one penny for every transaction they make.
Another interesting thing is that they used to give out different amounts of coins in order to boost their popularity and to get more people to start purchasing, selling, and trading their coins. Today, this isn’t the case, especially since the cost of one coin is extremely high.
Conclusion
The entire Bitcoin industry experienced a lot of ups and downs in the past, mostly because it was a new concept that was difficult to understand. However, nowadays, it’s considered to be one of the most profitable and popular digital assets out there, one that will be the future of finance.
