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The History of Bitcoin and Litecoin

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First mentioned in 2008 by a developer using the pseudo-anonymous identity of Satoshi Nakamoto, Bitcoin, the open source peer-to-peer digital currency was first launched in 2009, and has reached by December 2013 over 172,000 peers.  Bitcoin was launched as an open-source de-centralized platform of virtual currency, whereby all transactions are recorded on blockchain by its operators – the miners. Though Bitcoin has been slowly  adopted, it has become an innovative means for a variety of digital commerce and fiscal activities, including:  Speculative investments via BTC Exchanges, Philanthropic activity, on-line gambling, use of Bitcoin instead of certain national currencies (in Iran and Argentina for example), allowing the peers to by-pass international sanctions or a solution to high inflation rate, through various commercial uses – in technology website and nowadays – even in traditional businesses. As Bitcoin has no physical or paper manifest, it is commonly accessible to purchase bitcoins via Credit Cards and via Bitcoin Paypal platforms or using BTC to Paypal applications.

Currently many countries have banned bitcoin, while you can Buy Bitcoin or Buy Litecoin for transactions in other countries with private businesses, NGO’s and currency exchange to use its many advantages.

Many businesses and corporations accept Bitcoin as payment currency, representing their desire to be perceives as innovative and globally open. Virgin Galactic Airlines is a typical example, which since November 2013 announced they accept Bitcoin as payment, allowing ticket purchase by Bitcoin after you Buy Bitcoin via credit card or BTC to Paypal.

Parallel to Bitcoin, Litecoin has been inspired by it and resembles it as an open-source peer-to-peer cryptocurrency, launched in 2011 by Charles Lee, has become the second largest by market capitalization. As of November 2013, Litecoin has received extended media coverage by prominent media channels as the Bitcoin altenative.  Litecoin proclaims to offer several advantages to Bitcoin, among which are: New Block processing each 2.5 minutes (4 times faster than Bitcoin); Different and proclaimed optimized algorithm; Projection of issue of 84 billion Litecoins, 4 times more than Bitcoin;

Litecoin can also be used in most application who accept Bitcoin or other  crypto-currencies, and is currently accepted in 23 market exchanges, the largest of which is BTC-E. it is possible to Buy Litecoin either via credit cards or via the Litecoin Paypal application, for use in BTC/LTC trading, LTC/USD and LTC/EUR trading, as well as payment method with the many corporations, businesses, NGO’s, websites and applications.

A major advantage of both Bitcoin and Litecoin is the low fees charges for transactions. When you Buy Bitcoin or Buy Litecoin, the fee can be lower by up to X20 than regular currencies’ transaction fees, while allowing the peer increased security, better performance, improvements and benefits. Using Bitcoin and Litecoin in addition to use of the Bitcoin Paypal option, creates an easy, simple, user friendly and safe way to purchase and acquire Buy Bitcoins or Buy Litecoins.

Future of Bitcoin and Litecoin seems promising, both as digital commercial currency and as an investment channel, particularly once their value becomes less volatile.

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

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