(Image Source @https://tctechcrunch2011.files.wordpress.com/2014/02/bitcoin-perfecthue.jpg?fit=1%2C1 )
Cryptomarket is led by a gruesome leader that is moving at a fierce speed. But the leader is not any person (not that i know of) but an entity created in 2008 by anonymous figure Satoshi Nakamoto. I am talking about Bitcoin. It has set such a unprecedented growth chart which is envied by both industries and the intellects. How is it possible that nobody saw it coming and was even ridiculed in its early stages. Well it's because it was unpredictable and came at a time when digital economy was at its peak. The biggest talking point of all is the way it was invented and took over financial transaction. Many eminent noble prize economists and experts disagree with concept of cryptocurrencies especially bitcoin and have compared with dot com bubble.
There are two major factors that makes Bitcoin and even other cryptocurrencies unique i.e. decentralised governance and secure transactions. These two are the end extremes of a continuum and does not go hand in hand with each other. Then how it managed to seep through that small window of opportunity is just a matter of right timing and invention of a story that we loved. A concept which is ahead of its times will not be able to stand the idea and those who are opportunist will look for the right opportunity to place under the radar. An article on history of bitcoins and cryptocurrency in bitcoin magazine gave me a better insight into its origin @ https://bitcoinmagazine.com/articles/quick-history-cryptocurrencies-bbtc-bitcoin-1397682630/ (Source). According to the article the first cryptocurrency has its origin in Netherlands during 1980's. But as i mentioned earlier the idea was well ahead of its time and waited another 28 years to get tweaked and presented in the digital age. It took another 9 years to streamline into mainstream network of financial transactions. It is difficult to predict future of cryptocurrencies but surely it has come a long way contrary to the views.
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