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As new investors continue to invest and the market cap grows, Bitcoins cost could become more stable.Lack of adoption by businesses. The cost volatility is a huge reason that many businesses have yet to embrace Bitcoin as a form of payment. Increased consumer adoption and cost equilibrium will eventually mitigate this disadvantage.Another disadvantage is that while many people have heard of Bitcoin, few understand exactly what it is or how it functions.

The more we spread the word and grow the Bitcoin community, the better off our bitcoins will be.How to Purchase BitcoinAs mentioned above, in the first years of Bitcoin it was difficult to find a reliable place to buy the cryptocurrency.   With the increase in demand for Bitcoin, numerous new companies have sprouted to help facilitate easily purchasing Bitcoin.These days, many Bitcoin exchanges have received enormous investments from venture capitalists.

You can compare exchanges and view our in-depth reviews in our How to Buy Bitcoin Guide.   Weve also listed our top two recommended options below:Coinbase launched in 2012 with the hopes of giving users an easier way to Purchase Bitcoin.   Since its launch, the San Francisco based startup has become the most commonly recommended buying option for newbies.

While they launched more recently than many of their competitors, the New York-based cryptocurrency exchange has rapidly built a great reputation in the crypto community.   You can learn more in our Gemini Review and Users Guide.Who invented BitcoinSatoshi Nakamoto is credited with designing Bitcoin. Nakamoto claims to be a man living in Japan born on April 5th, 1975 but there are speculations that he's actually an individual programmer or group of developers with a penchant for computer science and cryptography scattered around the United States or even Europe.Nakamoto is believed to have created the first blockchain database and has been the first to fix the double spending problem other electronic currency failed to.

A value of 100 is peak popularity.Google Trends constructions the graph to represent a comparative search interest to the highest points in the chart. A value of 100 is the peak popularity for its word Bitcoin and a value of 50 means that it was half as popular at that time.

Its amazing how the searches relating to Bitcoin have spiked in the past few years.When Bitcoin began circulating in 2009, its early adopters consisted of developers and a niche crowd of technical men and women. Its prevalence over time indicates that many of the disadvantages of Bitcoin will likely dissipate as Bitcoin becomes standard.Unsurprisingly, Bitcoins cost has grown with increased demand.

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By gaining a large number of adopters and users, Bitcoin has attained a network effect that brings even more users. Users who would otherwise be apprehensive investing in a relatively unknown and unproven digital currency are reassured by Bitcoins performance over time, its growing community, and also the fact that people they know are adopting cryptos.Bitcoins first mover advantage, popularity, and network impact have cemented it as the very popular cryptocurrency together with the largest market cap.

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Bitcoin is able to attract users better than any other cryptocurrency becauseIt has the network impact. Bitcoins network supports its worth to newcomers and provides Bitcoin a viral growth rate.The high market cap is comforting. Bitcoins enormous market cap provides users a sense of security and stability since its harder to manipulate and not as prone to drastic swings in cost.

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Many Bitcoin users are holding onto their bitcoins in hopes of selling them off to get an enormous profit one day. With news articles portraying Bitcoin millionaires as lucky kids find this who got in early, you cant really blame them. For example, if you'd spent your $5 latte money on 2,000 bitcoins one morning in 2010, they would be worth roughly $5.4 million now.

While many people have flocked to cryptocurrencies only in search of financial gain, there are a ton of people which are only interested. Some individuals are sticking around and trying to understand what cryptos are all about. While more users increase Bitcoins network effect, more people forming in-depth understandings of cryptos additionally strengthen the active Bitcoin community.Final ThoughtsBitcoin remains a comparatively young currency but it's achieved substantial user adoption and expansion.

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Understanding Bitcoins potential is an essential first step to seeing the brilliant solutions being worked on in the cryptocurrency world.Bitcoin paints a future that's drastically different from the fiat-based planet today. This is either exciting or unsettling for the vast majority. Equip yourself with the best potential resources. Become active in communities which further explore not only the technical applications of Bitcoin and other cryptos but using their general potential to interrupt virtually every economy.

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