Now, in the last days of 2017, we can officially say, that this year was crazy — and historical — for cryptocurrency. The year, when crypto has made a huge step to completely new level — global recognition. The year, when crypto has become so popular, that even your parents asked you about Bitcoin. More and more people not only become interested in digital currencies, but also begin to use it. It’s time to look back and remember the most important events in cryptoworld that happened in 2017 and will be forever left in the history as legendary.
Summing up, 2017 was full of incredible things:
- Crazy ride of Bitcoin price. Starting at around $1.000 in the beginning of the 2017 and reaching $19.000 on some exchanges in December, Bitcoin price has been skyrocketing and doesn’t seem to stop!
- Bitcoin futures. Trading Bitcoin futures on the largest US exchanges have strengthened the positions of cryptocurrency, attracting serious investors and making huge step to legitimation of cryptocurrency. Futures are one more sign that crypto is an equal part of financial world and is here for long.
- Cryptocurrency regulation. It’s time when cryptocurrency became so widespread that it can’t be ignored, so governments slowly, but surely determine their politics regarding digital coins. Belarus officially allowed operations with tokens and mining of cryptocurrencies, Japan recognized Bitcoin as legal method of payment, Germany has confirmed that cryptocurrency is financial instrument — regulations have its own specificities in every country, but the general tendency to the recognition of cryptocurrency shows that it becomes equal partner in financial world.
- Bitcoin forks. There are contradicting opinions about whether forks are good or bad for crypto, but at least forks gave us Bitcoin Cash, that currently equals around $3000, by the way.
- CryptoKitties. We just can’t not to mention them. Those fluffy digital pets have charmed everyone and even slowed down transactions on Ethereum because of rapid rise of transactions. Many people created their first cryptowallets especially to buy one of those charming virtual creatures. It is the first app built on blockchain that drew attention of masses and provoked wave of interest to the crypto. One guy has even made a script that turns cryptokitties into printable paper-toys.
2017 was full of interesting opinions about crypto: from positive ones (“In the long term Bitcoin moves above $500,000 within three years”, John McAfee) to not so promising (“Bitcoin is a fraud. It’s worse than tulip bulbs”, Jamie Dimon — although two months later Jamie Dimon’s JP Morgan Chase&Co was “looking at business opportunities in the planned bitcoin-futures market”).
2017 was full of incredible stories. We all have read an exciting story of Mark Frauenfelder, who forgot his password to his Trezor where he stored his bitcoins and spent few months trying all possible things (including hypnosis) to remember magic digits. And we were truly glad when he finally managed to do that and got his coins back! At the same time, we empathized poor guys who lost their Bitcoins and were constantly counting up how much would they have today. That one, who threw away hard drive with 7, 500 Bitcoin, would now be a happy owner of around $112 million, and that famous “pizza guy” would now have $150 million, if he would eat some snacks instead of buying Papa John’s tasty dough with topping with 10, 000 BTC. This counting up seems to never become boring.
2017 is a year, when people, famous in areas that are not connected with cryptocurrencies, have begun to invest in or promote digital coins. Paris Hilton, advertising LydianCoin ICO in her Twitter account, or Floyd Mayweather, promoting Centra project (although few weeks ago Centra was hit by class action suit) are among them.
Frankly speaking, the most crucial moment in the 2017 year is not trading Bitcoin futures, or launching extremely popular decentralized app, or legitimation of crypto in more and more countries. The most important is change in perception of cryptocurrency. It is not just interest of extremely limited circle of people or some strange innovation that is unknown for majority of people any more. Crypto overcame its own borders and became part of real life. Now you can hear about digital currency rate in news or read about latest ICO in media. If a year ago people would have looked at you incredulously if you had started conversation about cryptocurrency and how it will change the world for better, now, probably, they will with interest keep up conversation.
2017 was tumultuous, frankly speaking, but it was great at the same time — and 2018 promises to bring even more. Cryptocurrency is still far from global acceptance, but with Bonpay card, that instantly converts digital currency into fiat money, you can spend your crypto funds everywhere: in shops, restaurants, gas stations and many more. High limits and low fees make the spending of crypto easy and convenient, eliminating borders between crypto and real world. We at Bonpay hope you are enjoying this holiday season with your family and friends and wish you all the best in the new year! Don’t ever stop exploring new things and possibilities!
