How is the price of Bitcoin determined for such situations to occur? Not only did it happen and has its explanation, but many think that a similar new situation is about to come.
Welcome to a new chapter . Then we will help you understand everything related to the bitcoin price canada, as well as the most important factors that determine it.
As we have already explained, Bitcoin is a distributed financial system , released in 2009 by a programmer under the pseudonym of Satoshi Nakamoto . It is not issued by any government or company and is not considered legal tender in any country to date.
Bitcoin is powerful and a masterpiece of engineering (or as Bill Gates says of it: “a technological feat” ), but how much is a bitcoin worth? Why does your price go up and down so many times a day? Who determines your price? What security does that price have? Is it a scam, ponzi or strange mechanism to steal my money?
During the first 4 years of Bitcoin (2009 – 2012) was rewarded for each block mined with a reward of 50 bitcoins, then changing to half, 25. Approximately in July 2016 will be reduced to 12.5. This event, in the previous case had a significant impact on an increase in the price of a bitcoin and if everything follows the forecasts it will be like this until the year 2140, approximate end date of the end of the appearance of new bitcoins.
3 of every 4 bitcoins that will exist are already in the market. Here you can see a real graph of how they have been issued and how many bitcoins are in circulation .