Task2 (Question 2).

The Short History based on Bitcoin And Crypto Currency where it describes on how they begun with the business and also faced hard times one can say or even where they came across a lot of challenges as they were the first one to start such a method

The Short History based on Bitcoin And Crypto Currency where it describes on how they begun with the business and also faced hard times one can say or even where they came across a lot of challenges as they were the first one to start such a method. Even though when they started everything was smooth until where they faced some new challenges as they had some new competitors which were “B-Money and Bit Gold, which were formulated but never fully developed” based on (bernardmarr 2017). They even listed or being advertised on mailing list about their business and explaining the process by someone with a name of Satoshi Nakamoto based on (bernardmarr 2017), even though until this day no one knows who is that someone who posted them.

As they continued with their successful business at that time even though no one has never traded anything with them then at last someone traded theirs of 10,000 for two pizzas and still based on (bernardmarr 2017), if that person hung on them since then the they will be having bitcoin worth more than $100 million. AFTER A YEAR OR SO NEW RIVAL EMERGE AS THEY TRIED TO SPEED THE PROCESS AND COME UP WITH OTHER NEW ADVANTAGES THAT CAN BENEFITS THE PROCESS BUT AS THE BITCOIN STARTED TO REACH SOME NUMBERS IT GOT DECLINED AND MOST OF THEIR INVESTORS SUFFERED A LOSS AS THE PROCESS NEEDED A TWO YEARS OR MORE PERIOD TO BE BACK ON THE SAME NUMBERS.

Since when they started 2009 in 2014 they started attracting criminals and scammers and based on (bernardmarr 2017), even “the world’s largest Bitcoin exchange Mt.Gox went offline, and the owners of 850,000 Bitcoins never saw them again”. The investigators are still investigating about the whole thing, but still someone got hold of bitcoin worth $450 million dollars back then and today those bitcoin worth $4.4 billion. Based on (bernardmarr 2017), in the year of 2016 someone came close to stealing Bitcoin’s thunder but The Chinese government went one further, by banning them outright.

Even though they still have to be found or investigated if they are really trusted to be partner with because based on (bernardmarr 2017), some of the well-known banks like Barclays, Citi Bank, Deutsche Bankand BNP Paribas have said they are investigating ways they might be able to work with Bitcoin. After all the ups and downs or scammers involved with Bitcoins it does not seem to finish them since they are still around and it look like they are here to stay even.