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As new investors continue to invest and the market cap grows, Bitcoins cost could become more stable.Lack of adoption by businesses. The cost volatility is a huge reason that many businesses have yet to embrace Bitcoin as a type of payment. Increased consumer adoption and cost equilibrium will eventually mitigate this disadvantage.Another disadvantage is that while many individuals have heard of Bitcoin, few understand exactly what it is or how it functions.

The more we spread the word and grow the Bitcoin community, the better off our bitcoins will be.How to Purchase BitcoinAs mentioned above, in the early years of Bitcoin it was difficult to find a reliable place to buy the cryptocurrency.   With the increase in demand for Bitcoin, numerous new companies have sprouted to help facilitate easily purchasing Bitcoin.These days, many Bitcoin exchanges have obtained huge investments from venture capitalists.

You can compare exchanges and view our in-depth reviews in our How to Purchase Bitcoin Guide.   Weve also recorded our top two recommended options below:Coinbase launched in 2012 with the hopes of giving users an easier way to Purchase Bitcoin.   Since its launch, the San Francisco based startup has become the most commonly recommended buying option for newbies.

While they launched more recently than many of their opponents, the New York-based cryptocurrency exchange has rapidly built a great reputation in the crypto community.   You can learn more in our Gemini Review and Users Guide.Who invented BitcoinSatoshi Nakamoto is credited with designing Bitcoin. Nakamoto asserts to be a man living in Japan born on April 5th, 1975 but there are speculations that he is actually either an individual programmer or group of developers with a penchant for computer science and cryptography scattered around the United States or Europe.Nakamoto is believed to have created the very first blockchain database and has been the first to fix the dual spending problem other digital currency failed to.

A value of 100 is summit popularity.Google Trends structures the graph to represent a relative hunt interest to the highest points in the graph. A value of 100 is the peak popularity for the term Bitcoin and a value of 50 means it was half as popular at that moment.

Its amazing the way the hunts relating to Bitcoin have spiked in the past few years.When Bitcoin began circulating in 2009, its early adopters consisted of programmers and a niche bunch of technical men and women. Its prevalence over the years indicates that many of the disadvantages of Bitcoin will likely dissipate as Bitcoin becomes standard.Unsurprisingly, Bitcoins cost has grown with increased demand.

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By gaining a large number of adopters and consumers, Bitcoin has attained a network impact that attracts even more users. Users who'd otherwise be apprehensive investing in a comparatively unknown and unproven digital currency have been reassured by Bitcoins performance as time passes, its growing community, and the fact that people they know are adopting cryptos.Bitcoins first mover advantage, popularity, and network effect have cemented it as the most popular cryptocurrency together with the greatest market cap.

Bitcoin is able to attract users better than any other cryptocurrency becauseIt has the Bitcoin Fast network effect. Bitcoins network validates its value to newcomers and gives Bitcoin a viral growth rate.The high market cap is comforting. Bitcoins massive market cap gives users a sense of safety and stability since its harder to manipulate and not as prone to drastic swings in price.

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Many Bitcoin users are holding onto their bitcoins in hopes of selling them off to get an enormous profit one day. With news posts portraying Bitcoin millionaires as lucky children who got in early, you cant blame them. For instance, if you'd spent your $5 latte money on 2,000 bitcoins one morning in 2010, then they would be worth about $5.4 million today.

While many people have flocked into cryptocurrencies only in search of financial gain, there are a ton of people that are only interested. Some peoples are sticking around and trying to understand what cryptos are all about. Even though more consumers increase Bitcoins network impact, more people forming in-depth understandings of cryptos additionally strengthen the active Bitcoin community.Final ThoughtsBitcoin is still a relatively young currency but it has achieved substantial user adoption and growth.

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Understanding Bitcoins potential is an essential first step to seeing the brilliant solutions being worked on in the cryptocurrency world.Bitcoin paints a future that's drastically different from the fiat-based planet now. This is exciting or unsettling for the huge majority. Familiarize yourself with the best potential resources. Become active in communities that further explore not only the technical applications of Bitcoin and other cryptos but with their overall potential to interrupt virtually every economy.