Bitcoin is the most famous cryptocurrency in the world. Initially, the term was used by a small circle of people, but after the popularization of blockchain technology and the explosive growth in the value of digital currency, many people took notice. The internet is teeming with news about the evolution of the Bitcoin exchange rate, stories of huge gains, and prospects for the currency’s development.
Bitcoin (BTC) is an electronic payment system for users that is similar to digital wallets and bank accounts. Digital coins, unlike traditional money, are not tied to a country’s economy or a central bank. All actions to issue money, process payments and create accounts are performed by users. The first developments of the system appeared in 2008 from creator Satoshi Nakato and developer Hel Finney, and on January 3, 2009, the official launch of the system took place. Bitcoin has become a protest against traditional money and the pegging of finance to a country. The idea of an independent currency was supported by a small community, but as the number of users and the value of BTC / USD increased, the system began to gain popularity.
The Bitcoin ecosystem is large, i.e. companies provide cryptocurrency users with certain services, manage online wallets and various types of storage, or sell goods for BTC. Bitcoin Shop Inc, formerly TouchIT Technologies Inc, is a U.S. public company focused on blockchain technology. Initially, the firm developed an online store, namely Bitcoin Shop, which offered bitcoin purchases, but today the company is developing blockchain technologies in general and has now turned to BTC mining. .
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In May 2015, the Bitcoin Shop announced a strategic investment of $ 1.5 million in Spondoolies, an Israeli manufacturer of bitcoin mining hardware. Bitcoin Shop was previously one of its biggest customers. The merger made it possible to combine the operational expertise of BTC’s transaction verification services with the cutting-edge technology of Spondoolies.
In September 2015, the agreement was unanimously approved by the boards of directors of both companies. According to its terms, BTC shareholders took ownership of 55.4% to 54.4% of the shares of the merged entity, and Spondoolies shareholders, in turn, received 44.6% to 45.6 %, based on the number of ordinary and preferred securities outstanding immediately after the merger.
Bitcoin Shop CEO Charles Allen became CEO of the new entity and admitted in his statement that the planned combination of the two companies represents a new force in the evolving blockchain industry.
It should be noted that in 2016, the company Spondoolies Tech ended its activities because it failed to come to an agreement with the employees. However, in 2018 he reappeared with the same team but new equipment. In September 2018, it released its second ASIC, which led the way in terms of profitability. This time they released an x11 ASIC for the DASH part. Bitcoin is the undisputed leader in digital currency. It is the first cryptocurrency that occupies more than half of the market. However, there are tons of other decent blockchain projects that deserve attention. Buying only bitcoin is a mistake, you have to remember the rule of diversification. So if you decide to convert 1 BTC to ETN then Godex cryptocurrency exchange platform is the best option for safe, anonymous and fast trading operations. The service of the cryptocurrency exchange Godex has established its credibility among crypto traders and other market participants.
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