By Leah Hutton (Luxembourg)
The leading cryptocurrency world, Bitcoin has transferred an amount of $11 trillion in wealth since the beginning of its establishment.
Bitcoin digital currency was developed in the year of 2009 and starting from that year till now, it has completed the transactions worth $11 trillion in wealth.
According to the data presented by PlanB on twitter, the daily bitcoin transactions take place between $300 million and $1 billion. PlanB says that these transactions are still going strong with the transfer of $10 billion each day.
#bitcoin transferred $11 trillion in wealth (2009-2019)
Still going strong at $10 billion each day pic.twitter.com/jAphbfYUzh
— PlanB (@100trillionUSD) October 24, 2019
These transactions have grown in number and value with the passage of time. The valuable transactions have also helped the bitcoin network to grow more valuable.
Mostly the bitcoin transfers occur when the price of the bitcoin crashes as recently, there were growing numbers of transfers before the bitcoin price dropped below the $7,500 mark.
Also read:Censorship-free and Untraceable Transactions
Bitcoin is going to turn 11 very soon and during the period of these 11 years from 2009 to 2019, all the bitcoin transactions were totally untraceable and censorship-free.
BTC has the record of the past transactions and it is very difficult to track the bitcoins and the BTC transfer records.
Apart from this, there are more than 9,333 active nodes present in the Bitcoin network which make it difficult for anyone to censor or trace the record of Bitcoin transactions. The transaction blocks in the Bitcoin network are created with the help of large scale tools.
At the beginning of 2019, Bitcoin faced a slowdown in its usage. However, despite this slowdown, somehow the digital currency has maintained its position.
Several traders backed out from the digital asset because of its high volatility. But now with the return of BitPay, those traders will again move toward the Bitcoin network as BitPay will provide them censorship-free and untraceable payment facilities.
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