Bitcoin is a virtual currency that was created by one or more anonymous inventors who called themselves Satoshi Nakamoto in 2009. It represents the first cryptocurrency trading on a decentralized ledger system called blockchain which is the foundation of any cryptocurrency transaction. . To be able to buy Bitcoin it is necessary to open a wallet or a virtual account; then you need to connect to the numerous sites that offer virtual currency in exchange for money (payment by bank transfer, rechargeable cards). Bitcoins are stored on all electronic devices such as tablets, smartphones, PCs and can be exchanged or spent (they are accepted by numerous commercial activities, both virtual and physical).
This currency is used to replace the paper one: some agree and those who do not.
Let’s now see the pros and cons of this cryptocurrency:
Pro: Among the pros of a bitcoin investment there is certainly the greater possibility of obtaining a profit than the more traditional channels of finance. Even the costs, compared with the usual financial channels, are lower. The most important pro, however, is certainly the one related to privacy.
Cons: As for the cons, the biggest is naturally linked to the lack of official regulation on the matter which makes the market and investments less protected than the more traditional channels. Another factor to take into consideration is the volatility of the currency, which as it allows you to make large profits, at the same time exposes you to potential risks.
In recent years we have witnessed great growth in bitcoin but also in the consumption of electricity needed to produce them. The process of creating a single bitcoin called mining requires an enormous amount of energy. And this is because each bitcoin is assigned to a computer that carries out a numerous series of algorithms giving rise to a process that consumes a lot of energy. Specialized computers are used which have a lot of computing power to create bitcoins and which draw a lot of currents to process faster and which are placed in large sheds complete with cooling fans, often near hydroelectric plants. So right now we are having a bitcoin-related pollution problem. A nation as large as Chile or Pakistan is the equivalent of the energy consumption that is made of about 80 terawatt / h of electricity to generate bitcoins, creating a significant emission of carbon in the air with serious consequences for the environment. Necessarily, the future will lead to a new bitcoin that will allow it to form with low consumption and use of energy, just like when we witnessed the birth of the first personal computers, which occupied entire rooms, while today they are really small.
Bitcoin initially, at the stage of its launch in 2010, was priced at $ 0.003. In 2011 it was worth between $ 1 and $ 2 and in 2013 it fluctuated between $ 266 and $ 1,200. But it is then in November 2017 that bitcoin touches the value of $ 10,000.
In November 2021 alone, it reached a value of $ 58,393 making this digital currency more and more desired.