Why did bitcoin shoot up in the first place?

[TKO]

Hey guys.

I am very ill informed about cryptocurrency and blockchain as a whole. Can someone please explain it to me in the simplest possible way?

What does blockchain mean, what is the concept behind it, and what is cryptocurrency?

Does cryptocurrency have any actual value and why did bitcoin rise to it's all time high  $19,783.06 in the first place? And what do you think of the future of crypto, especially bitcoin? Will it rise more or will it slowly decline?

 

Thanks!

~TKO

[peel1]

there's a lot of conspiracy theory's the Russians did it as they had ALOT of bitcoin before the massive jump so they made shit loads like billions (but that's just a theory)

[irawk0]

Hey, just thought I'd point out looking that information online might've been a much better place to start 😛

But in case you feel overwhelmed by the torrent of information, here's the gist:

It's basically like a penny-stock that got picked up by alot of rich investors who pumped up the price then dumped it. However it's the first cryptocurrency so it didn't drop right back to worthlessness.

[TKO]

2 minutes ago, irawk0 said:

Hey, just thought I'd point out looking that information online might've been a much better place to start 😛

But in case you feel overwhelmed by the torrent of information, here's the gist:

It's basically like a penny-stock that got picked up by alot of rich investors who pumped up the price then dumped it. However it's the first cryptocurrency so it didn't drop right back to worthlessness.

I did feel overwhelmed. I'm not a reader actually  So all that information really scared me.

But thanks for the gist! 

[williamshennie9]

8 hours ago, TKO said:

Hey guys.

I am very ill informed about cryptocurrency and blockchain as a whole. Can someone please explain it to me in the simplest possible way?

What does blockchain mean, what is the concept behind it, and what is cryptocurrency?

Does cryptocurrency have any actual value and why did bitcoin rise to it's all time high  $19,783.06 in the first place? And what do you think of the future of crypto, especially bitcoin? Will it rise more or will it slowly decline?

 

Thanks!

~TKO

It was a bubble, so everyone wanted to jump in, and get rich by buying bitcoin. Then the bubble burst, and now the price has stabilized.

[Flan]

This is my opinion about cryptos, bitcoin. (I can't explain blockchain in simple way. You can read some article online about blockchain)

- In a definitive word, crypto means hidden, and currency means money or economy.

Cryptocurrency is a hidden(more like privacy or security) money that created by users, and used by users. 

- Bitcoin was the first crypto that has stabilize the price into high level. (using decentralization system)

We don't know bitcoin it is going to rise or nah, because it depends on market. More people used it and the stock was decreased, it's will going up. If the stock are increased but no one used it, it's going down. 

[kurian]

Lots of questions in one single topic.. Hmm.. You can find some answers here https://forum.stake.com/school/. Moreover, google and youtube could give you more information, all you need is time to search for it.

[JrFromPH]

On 10/25/2018 at 3:20 AM, TKO said:

Hey guys.

I am very ill informed about cryptocurrency and blockchain as a whole. Can someone please explain it to me in the simplest possible way?

What does blockchain mean, what is the concept behind it, and what is cryptocurrency?

Does cryptocurrency have any actual value and why did bitcoin rise to it's all time high  $19,783.06 in the first place? And what do you think of the future of crypto, especially bitcoin? Will it rise more or will it slowly decline?

 

Thanks!

~TKO

This is a big topic bro! ill suggest to you to use google or youtube to get more info, that's what I did when I am ''Noob," this is a pretty cool topic bro, I dont want to give false info about this! ☺️