Monday marked the seventh anniversary of the first recorded transaction of the popular cryptocurrency, Bitcoin. Seven years ago a single bitcoin was worth $0.003, and today it is going for a whopping $2,300.
That day is celebrated as Bitcoin Pizza Day. 7 years ago, a transaction was made by a programmer named Laszlo Hanyecz who spent 10,000 bitcoins on two pizzas. He asked a fellow enthusiast on a forum to accept 10,000 bitcoins in exchange for the pizzas. The bitcoins spent on those two pizzas are now worth over $22.5 million.
Since its first transaction, the value of a bitcoin has increased tremendously, multiplying by 879,999 times. Anyone who invested on $100 worth of bitcoins back then would now have earned over $75 million.
Of late, bitcoins’ value has surged thanks to a new law in Japan which accepted it as a legal currency and has boosted its trade in Japanese yen. Over 40 percent of bitcoin trade is now carried out in the country.
Political unrest is another factor which has increased investment in bitcoins as it’s considered a safe asset than standard currency or stocks.
During the recent past, there was a debate in the bitcoin community regarding the underlying technology used in blockchains to mine the currency. It led some to believe that bitcoin will be split into two currencies however that has changed and a more realistic alternative has been put forward, increasing investor interest yet again.
Bitcoins are earned either through payments or through mining, which involves a complex mathematical solution where the miner is rewarded in bitcoins.
Read More:Â Pakistan Will Not Legalize BitCoins or Crypto-Currencies – State Bank
Right now, bitcoin is worth about $2,312 and its rapid recent growth is hinting at a new, higher settling point for the cryptocurrency. The currency still isn’t recognized by most governments and its critics point out to the fact that it is used for transactions by criminals like the recent Windows ransomware which called people to pay in bitcoins or have their data removed. However, that hasn’t stopped investments and it continues to gain traction throughout the globe.
The value of bitcoin continues to vary, but consider this – 7 years ago, if only you had spent Rs. 50 on Bitcoins, you’d now have Rs. 4.4 crore in your pocket!
But Bitcoin is Ban in Pakistan.
its Geo location free….
@disqus_idBJFIHteE:disqus its not banned in Pakistan, you can buy and sell easily in the comfort of your home, if you wish
but never be able to cash it out
Have you tried selling BitCoins and failed? Which website did you use? Can you share
You can cash out easily. Contact me whenver u want to sale.
Thank you
agr ma bitciins lana chaun to kia proses ha iska ya kasy lay sakty han plz reply
You can contact me at my email. [email protected]
bhai i want to buy bitcoins
No urdubit is very good solution and I buy and sell bitcoin in market easily. If anyone want to buy bitcoin, can contact me at my gmail. [email protected] https://uploads.disquscdn.com/images/6d3ad8a762b4ca2ab820dfc7856bc166547578e911956a1dba753e9db2db17e5.png https://uploads.disquscdn.com/images/12e21d5f4a8802183bd764015869449a21f10eb16929261036c057f62dcbd8dc.png
Waiting for expert opinion by Abdul Wahab! He would surely poke his nose into this post too even though he doesn’t knows a bit of it. Lameness redefined.
I second that bro… And here I thought I was alone feeling it.
Get a life man. Jan chor dou uski n better mind your own business. Karta hai tou karta rahay comment. Na jany kyuin yahan pe wahab k comments se kuch logon k pichwaray main aag lag jati hai.
“Get a life man. Jan chor dou uski n better mind your own business.”
Why don’t you act accordingly instead of lecturing? Did I ever quote you? Do we know each other? Certainly no. Peace bro peace! :)
Abdul Wahab ki lobby boht strong hai yahan.
Tujhey aik adad mango ki zarorat hai thanda hone k liye, Aam khaye ga Aam?
Life is full of ifs…
“If my auntie had balls she would be my uncle”
Ps: Read it somewhere.
Thank you for clarifying that it was not an original thought of yours.
Because i knew many would call me ‘wannabe liberal’ after reading such a thing.
lolzzz!! What was liberal in that line…
hahahahaha !
Well time is gone.
Shit :
7 Years Before to Main Metric He Pass Kiya tha :
Us Waqt 2 Rupee Se Zaida to Milta He Nahi tha Khane K Liye 50 To Bari Bat hai :p
Wtf? 2010 me konsa khana 2 rupees ka milta tha?
All hail Mother Russia…..
Koi is pe full aur authentic research kar k bataye tou phir sochtay hain is main invest karnay ka.
ab nah karna ab ye ek mahine mein 4 lakh ke hojaye ge
ab faida nahi
Stop Hyping crypto currencies…. They are a scam and will remain a scam… Chota Tizen
lolzzz… People are making millions , billions from your scam ???? :) can you define your scam definition ?
Sure.. any business or entity not recognized by SECP or Statebank or does not comply to regulatory laws and regulations of country is a scam. No matter if you make billions or trillions out of it. The hype will die. You will be broke. With no legal help
Agar maine 5-0 Radio Allen Wong se pehle bana di hoti to main abhi Arboun pati hota.
Aisi fazool logics se kuch nahi hota.
Present main banda kuch karay to baat bhi ho.
Agar main aaj Rs 50 Bitcoin pe spend karoon to 1 saal baad kitna mile ga mujhe? :P
Thainga!
Q??? Isn’t the value of a bitcoin is increasing tremendously… ?
Is there any way to purchase bitcoin while living in lahore?
@Amir
@Nabeegh Yes, its very easy, not only in Lahore you can purchase from anywhere in the world while sitting in the comfort of your home
When i came to know about bitcoin 4, 5 years ago, it was at 20$, but i felt bit unsecured to invest in, i also did little mining.
Now hit the wall with your head 200 times and enjoy :)
There is still a way/ We just need a time machine. Go back in past and invest. Its that simple.
Ya By that logic,Ager meray pass time machine hoti 7 saal pehlay toa paka invest ker dayna tha. I would have had an idea about inflating price of coins in future.
On a serious note, there are other digital currencies which are too cheap today. May be they will be expensive similarly in future. So go invest Rs 50 in all of them. Also tell me how/where to do that :-)
353 Dollar Rise since this article and almost doubled in a month.
Its actually going to stay good. Because a unanimous ledger and synced block-chain makes sense, and the difficulty to mine a bitcoin has rose up with time, as only a limited number of 22.8 million bitcoins can be mined .. also more n more people are investing in it so that makes me think its going to stay good.. I once bought bought coins for 15000pkr, the rate back then was 65 dollars a pop.
where governments use the money or not is never fully verifiable, is any country’s currency fair valued is very hard to know, or may be any day they can print more and just swindle numbers which is what they usually do, its hard to transfer money from one part of the world to the other part due to the cost of moving printed dollar bills from one destination to others. Government have highly made-up numbers there numbers are usually more than circulation in the market, and then US govt can one day decide to bail out a chosen bank for 765bn dollars and not save many others, peoples hard earned money went to drain in 2008 because of highly inefficient financial gimmickry of the governments world-over and someone came with the idea of a synchronized ledger and a digital currency ,, no one knows who created it.. But many giants are themselves converting their funds in BTC as they them-self know it makes more sense then the gimmicky financial system of the world which itself is highly un-verifiable.
Statebank is saying not to invest in it coz it could become next heaven for investors, not as pragmatic as getting a property in dubai built with brick-and-mortar but it can significantly rip Pakistan off its foreign reserves as to invest in BTC any currency is first changed into USD. and then also cashing the concept of crypto currency many fakepreneurs are trying to come-up with new currency name that are highly fake and do not comply with the basic rules of cryptocurrency for example onecoin.
Though I do not recommend investing in Bitcoin or anything, i do have access to vendors that could change ur sums to BTC, I am happy to share the info by excluding any liability on me. u can reach me on twitter @tim_ali
https://uploads.disquscdn.com/images/35efed36d92a271f62035859332bad695dc945579e5f905c50f7a6dcbe74bd31.png
Can you list the online wallets which accept credit cards to buy BTC / LTC / Ripple / ETH
The Future is BTC / ETH / LTC / RIPPLE.. Paper currency should end goverments are looting peoples with paper currency. They always de-value the paper currency to make money for expenses.
I think now a time Bit coin is legal in Pakistan . So sir where i invest Rupees in Bit coins
Have you considered mining Bitcoin as another source of better income in your life? Yes you can do it even without experience. I want to share with you my good experience mining bitcoin with the minimum investment of 0.2 Bitcoin to earn 3.4 Bitcoin monthly. If you have withdrawal problems or any problem let me know as well. I can guide you [email protected]
Note: You must have a blockchain account and you will be mining to your blockchain account…..