With over a decade spent on the market, Bitcoin has achieved a lot. The cryptocurrency still holds the number one spot as the go-to cryptocurrency in the world, and although it’s seen a lot of change through the years, it’s amassed a loyal following that backs its progress and evolution. Of course, it’s only natural for something to go through tons of changes when it’s been around for so long. When you look at some of the popular Bitcoin trends from back in the day and compare them to the current ones, it’s apparent that Bitcoin is now a lot different. Thankfully, most of these changes are positive, and here are some of the big ones you might want to learn more about.
The Fall of Bitcoin Mining
Calling it the fall of Bitcoin mining might be a bit overdramatic, but it’s a pretty accurate way to describe the massive drop in its popularity. Back in the day, Bitcoin mining was considered one of the most popular ways to get your hands on some Bitcoin. The activity often involved the use of a pretty powerful computer that solved complex puzzles for the blockchain in exchange for Bitcoin as a reward. While there’s no doubt that even back then Bitcoin mining required some pretty pricy equipment, it was still an activity that most people could afford to try out.
These days, Bitcoin mining is very much out of style. Due to the Bitcoin halving events we’ve seen over the years, the process of Bitcoin mining is a whole lot more demanding. Miners need to put in a lot more time, money, and effort into it, and sadly, in a lot of cases, they don’t end up with a worthy payoff. The process of Bitcoin mining is no longer a viable option for your run of the mill person, which is why the activity is now left mainly in the hands of larger collectives and firms who can afford to profit off of it.
The Rise of Bitcoin Trading
Continuing with the dramatic tone, the rise of Bitcoin trading is a very appropriate term to describe the massive spike in Bitcoin trading. A ton of factors have played a part in getting Bitcoin trading to the top of its game, but the biggest one is undoubtedly how easy the whole process has become. Nowadays, all people need to start Bitcoin trading is access to some of the excellent trading platforms like Bitcoin Supreme. These platforms are the perfect way for new traders to introduce themselves to the Bitcoin market and start on the right foot.
You can gain access to these trading apps and platforms very easily, and most often for free! They’re packed with bite-sized guides on how to start trading Bitcoin, tools to help you navigate the space, and even top-notch AI trading robots that can help you find the best opportunities on the market. The ease of access to information on the Bitcoin trading process isn’t just limited to trading platforms as it’s pretty much everywhere on the internet right now!
If you’ve been following Bitcoin since its early days, then you must be familiar with the bad rep the cryptocurrency got in the beginning. For a long time, information on Bitcoin was hard to obtain, so most people who knew of Bitcoin had no idea what it truly was. Of course, this led to people making assumptions, which led to some very negative things being said about the cryptocurrency. Unfortunately, a lot of these stuck to Bitcoin, and only recently are they being shed with the help of the abundant information now available online.
A Much Wider Reach
As we already mentioned, some of the negative labels attached to Bitcoin have started to crumble recently. Of course, this is major news for Bitcoin enthusiasts who are finally starting to see some of the things the cryptocurrency promised at the start. One of the things Bitcoin users wanted the most is the chance to spend it on a variety of things, and thankfully, this is now a reality. A whole new wave of service providers have added Bitcoin as a payment option, and we can finally shop with our Bitcoins with very few limitations.
The number of shops and services that are now Bitcoin-friendly is quite extensive. Other than a massive slew of indie online shops, we see big companies take on Bitcoin payment as well. A few of these include Microsoft, Starbucks, Home Depot, and even Etsy! One of our favorite new opportunities is Bitcoin travel! There are so many reasons why everyone should get excited about traveling the world, and thanks to websites like Destinia, you can now explore the wonders of our planet with the help of Bitcoin.