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Within 2 years of Bitcoins creation in 2009, the value of a Bitcoin had reached $30 USD from mere fractions of pennies.  In addition to this, mining power had started to become centralised , moving away from individuals mining using GPU power to specialised hardware called ASICs (application-specific integrated circuits).  This lead many to think they had missed the boat on Bitcoin. 

In 2011, Charlie Lee, a former google engineer, announced the debut of the “lite version of Bitcoin” which was hyped as being silver to Bitcoins Gold.  Litecoin forked directly from Bitcoin source code, meaning it was essentially copied from Bitcoin, hence making it very similar and with a view “not change what’s working (from Bitcoin) unless there was a good reason to”.  This meant it was just as secure as Bitcoin.  There were a number of changes made however in order to offer an improved alternative to Bitcoin without competing directly. 

Bitcoin has come a long way in the last decade.  It has gained a foothold on the internet and the Blockchain technology behind it has led to the creation of many other coins.  The history of Bitcoin itself has been very rocky, as would be expected with a new disruptive technology, however unlike any other new technology, bitcoin is bought and sold instantly on the internet and used as a payment method or a store of value.  This has meant that every setback and every victory is quickly reflected in the price causing unprecedented volatility.  But in the end where is the price headed?  

How can you start trading Bitcoin in Dubai?  In this article, I will review a few points about Bitcoins usage in Dubai, with the main focus being setting up an account and starting to trade Bitcoin and other Cryptocurrencies in Dubai.

A few days ago, India’s Supreme court overturned a 2 year banking ban for cryptocurrency firms.