The story of the most popular digital asset created by Satoshi Nakamoto began back in 2010 and since then the asset has shown a crazy increase in value. Digital asset grew in price at a frantic pace, although in 2010 it was used to buy several pizzas.

On May 22, the cryptocurrency world celebrates the anniversary of Bitcoin Pizza Day. On this day in 2010, Czech enthusiast Lazlo Hanesh made the first financial operation using crypto called bitcoin. Hanesh transferred 10,000 bitcoins to his developer friend, who ordered him two pizzas from Papa John’s restaurant. Then one bitcoin cost about $0.003 (thus, pizzas cost the Czech $30).

However, if you had clicked the bitcoin payment button in 2010 and purchased $1,000 worth of crypto assets, you would have received at least 927,693% growth in 2022! In other words, a thousand US dollars in 2010 invested in bitcoin in 2022 would turn into $927 million. But when did Bitcoin start and what was Bitcoin’s starting price? 

BTC mining began in 2009. However, Bitcoin was not sold anywhere. Back then, there were no cryptocurrency exchanges at all. Technically, the price of bitcoin in 2009 was $0. Throughout 2010, bitcoin did not manage to reach the $1 mark, but the price had already begun to rise.

The lucky ones who bought bitcoins in 2010 could not fully realize the potential of the crypto coins. Until 2017, the growth rate of bitcoin did not give reason to assume that the asset would show cosmic growth. The process of global adoption of crypto began after 2017 and was triggered by a sharp rise in bitcoin.

Between May 1, 2017 and April 1, 2018, the main cryptocurrency has risen in price by almost 5000%. This happened against the backdrop of an increase in the popularity of a new way to raise funds – ICO. IPO projects have raised millions of dollars, often without even a minimum viable product. During the same period, CME launched Bitcoin futures trading.
Every year, the number of Americans hearing about bitcoin has grown exponentially. According to, in 2022 more than 89% of Americans know about bitcoin. At the same time, the number of blockchain wallets as of the beginning of 2022 has increased to 80 million.

The value of the Bitcoin

The main digital asset burst into the global economic and financial arena thanks in large part to individual traders. Large companies and hedge funds helped to reach a new level of BTC, which saw their benefits and potential in cryptocurrencies. What was this value?

It is important to remember that when bitcoin appeared, blockchain technology also appeared. These two technologies are inextricably linked and help each other get better. Blockchain algorithms and protocols work best in the first cryptocurrency. Given the value of digital assets and the technologies on which it is based, six core values ​​can be identified:

Decentralization – Bitcoin technology has allowed us to avoid tight control over the use of cryptocurrency and put more power in the hands of the user community. In 2022, this is a key advantage of the new generation of digital assets, but for the first time this was implemented as part of the Bitcoin project.

Security – The Bitcoin network remains virtually immune to hacker attacks. Blockchain technology plays a significant role here, due to which, in order to access the information of the BTC network, it is necessary to control at least 50% of mining, which is an almost impossible task. 
Mining or extraction of BTC is distributed among numerous companies that are geographically located in different parts of the world. Therefore, the Bitcoin network is a much more secure place than any physical storage. Wild west of crypto mining explained how exactly mining caused on BTC/USD price.

Scarcity – according to the original algorithms, the total supply of BTC is limited to 21 million coins. Computing processes are designed in such a way that the last coin will be mined no earlier than 2140. Crypto has more value than fiat means of payment. Eventually, the digital asset will become completely deflationary, causing its value to rise significantly. Due to this property of the coin, the term HODL appeared, which means long-term storage with the aim of making a profit by increasing the fundamental value of the asset.

What will happen with bitcoin in 2022?

In 2021, Bitcoin became the most profitable financial instrument, surpassing the S&P 500 trading index, which showed the best result in three years. Also, the digital coins bypassed real estate and oil in terms of profitability. Gold finished 2021 in the red by 2%, in which BTC played an important role. Therefore, a fashionable topic for discussion is “what better protects against inflation Bitcoin or gold?” may be considered closed.

Despite the yield in the region of 60%, the cryptocurrency did not justify all the advances that it received in the fall of 2021. Leading experts like Bloomberg analyst M. McGlone and S2F model developer have said that bitcoin will end 2021 at around $120k. Leading banking conglomerates JPMorgan and Goldman Sachs were also confident that BTC would cross the $100k mark. But in reality, the digital asset hit a painful correction that the market is still feeling.

Among the global forecasts for Bitcoin, it is worth highlighting the statement of Bloomberg expert McGlone. The analyst believes that the main cryptocurrency will reach $100k in 2022 due to a gradual change in the role in the financial system and a significant decrease in volatility. The CEO of cryptobank SEBA is less optimistic in his forecasts, and believes that the asset is capable of reaching $75k by the end of 2022.

Is it too late to invest in Bitcoin?

If I didn’t invest 1000 in bitcoin in 2010, is it too late now? Yes and no. On the one hand, Bitcoin is already worth too much, so it is no longer possible to get a million percent of the profit.

On the other hand, the main crypto assets is only at the initial stage of its formation. Bitcoin is now at the adoption level of the Internet in 1996. In other words, cryptos have a great future and there is no doubt that if in 2022 you invest a thousand dollars in this cryptocurrency during the bear market, then after 2-3 years you will be able to get at least 100% profit.

Bitcoin has not yet found itself as a full-fledged means of payment. Large hedge funds continue to be interested in the asset, and the emergence of state regulation will increase investment flows in BTC. Therefore, there is no doubt that the digital assets has room to grow and develop, so buying BTC/USD is still a good deal in the long run.

The Good, the Bad and the Ugly: Wild West of Crypto Mining

“Bitcoin mining” is a phrase that has been tossed around for over a decade now and even people with no knowledge of crypto have encountered it at least once. The crypto market has evolved a great deal since 2009, however, the regulations of crypto trading and mining are still considerably lagging behind. This gray area is leaving plenty of room for trading manipulations and causing a Wild West of crypto mining.

Wild West Crypto Mining – no Pickaxe required

When a typical person hears “crypto mining” the thought that comes to mind is a gamer using his rigged PC to mine Bitcoin while offline. In actuality, according to a new study, half of all Bitcoin mining capacity is controlled by 0.1% of miners.

A typical Bitcoin miner is a corporation operating “mining farms” – numerous warehouses full of ASIC (Application-Specific Integrated Circuits) mining computers. These organizations make it impossible to compete against them for lucrative Bitcoin hashrate, practically pushing an individual miner out to the curb.

However, Bitcoin, even though the most recognized, is not the only proof-of-work (PoW) crypto. Despite some arguing that proof-of-stake (PoS) is the new norm among the blockchains, there are still quite a few cryptos that can be mined.

Deciding Whether to enter the Wild West of Crypto Mining

Despite numerous arguments against it, PoW seems to be here to stay, at least for the time being. For those who are interested in making some easy passive income on the side, once they dismiss the idea of mining Bitcoin, the next stop is Ethereum.

Ether’s price has lately made its mining an extremely lucrative endeavor. It attracted many first time miners, so it is no wonder Ethereum’s hashrate is at its all time high. Miners’ only concern is Ethereum’s eminent transition to PoS, which is expected to take place by 2023.

Ethereum Network Hash Rate Chart by

Honorable mentions of PoW chains include, though are not limited to:

  • Ethereum Classic
  • Monero
  • Ravencoin
  • Dodgecoin

Mining each of them comes with different equipment requirements and fluctuating hashrate difficulty. Anyone looking to get into crypto mining needs to weigh out the current hardware availability and prices against the potential gains.

Miners versus Gamers

Lately, hardware scarcity has been one of the burning topics among the miner community. Various weather incidents, trade war of the US and China and the consequences of the pandemic as well as the increasing hardware demand by miners resulted in a worldwide semiconductor chip deficit. 

The surge in demand and prolonged chip shortage culminated into a market of online purchasing bots, scalpers, hardware company lotteries, skyrocketing prices and overall equipment unavailability. At one point, the consumers were forced to either pay double and triple the MSRP, or settle for the equipment they already own.

This affair primarily affected the gamers and the miners as they were the pool competing for the severely limited supply of the medium and high performance GPUs. Since the miners were using the hardware to acquire generous income, they were ready to pay high prices to the scalpers thus further deepening the issue. 

This trend prompted manufacturers to put a lid on the GPUs’ hashrates making them less appealing to miners. However, the short term solution was just an implemented driver on the existing GPUs. Consequently, as soon as they hit the market, crypto miners’ forums were overflowing with advice on how to go around the restrictions. It was back to square one for the manufacturers and just another day in the Wild West of crypto mining.  

The Big Miner Migration

Besides the chip shortage, 2021 was significant as the year of the big miner migration. With the release date of digital yuan approaching, the Chinese government saw crypto as direct competition to their CBDC. This triggered one of the world’s biggest government crackdowns on crypto, effectively shutting off power to all Bitcoin mining farms on Chinese grounds overnight.

Bitcoin mining hashrate contribution of China up to that point had been steadily declining in the anticipation of such an event. It went from 75% in 2019 to 44% in May of 2021, however, the ban has suddenly brought all Bitcoin mining in the Republic of China to a screeching halt.

All of the miners had to quickly find an alternative combination of crypto friendly grounds and affordable power. Russia and Kazakhstan were appealing and initially quite popular options because of their proximity. However, over time, they have shown to be risky choices due to governments’ inconsistent policies and electricity shortages. 

Evolution of country hashrate share by Cambridge Bitcoin electricity consumption index

Transporting the equipment to the US and Canada was logistically challenging due to the pandemic imposed shipping strain. Nevertheless, Texas has become the fastest growing destination for crypto mining in the world.

Green is the New Black of the Crypto Wild West

The narrative constantly finding its way back to the headlines of the crypto news section is that of Bitcoin’s “poor effect on the environment”.

Total Bitcoin electricity consumption data by Cambridge Bitcoin electricity consumption index

It is a fact that Bitcoin mining is a highly energy intensive process. According to Cambridge Bitcoin electricity consumption index, monthly Bitcoin electricity consumption has increased from 0.09 to 310 TWh, or close to 350,000% over the past decade. This trend has brought about numerous critics of mining impact on the environment and just about every major news post on the topic resulted in a price hit to Bitcoin.

One of those price hits was in May of 2020 when Elon Musk announced that Tesla would no longer be accepting Bitcoin as payments due to its environmental impact. The news caused a Bitcoin price drop of 15%. The epilogue of this episode was only a month later when Tesla’s CEO tweeted that the company would likely reinstate the bitcoin payment button once miners shift to more eco-friendly energy sources.

Probably unrelated to Mr. Musk’s actions though, Bitcon’s mining industry is showing an overall trend of moving towards more sustainable energy consumption. During June quarter, the share of green energy reached 56%, making Bitcoin mining one of the most sustainable industries in the world according to Bitcoin Mining Council (BMC).

This shift perfectly correlated with the big miner migration into the US. Not coincidentally so, since in Texas, miners shut the rigs upon power use surges and buy electricity when the demand is low. This way, they are efficiently acting as a new green energy shock absorber. Some even anticipate that recent mining activity will catalyze wind and solar energy production in the area to alleviate the power strain.

The demand for green Bitcoin is so high that even hardware manufacturing companies are jumping on the bandwagon, one of which being Intel. There has been a great deal of marketing and fan-fare surrounding Intel’s new “Bonanza Mine” chip and the community expected the new miner to deliver on speed as well as energy efficient performance. However, this turned out to be a letdown, as this chip only has about 40% of the hashrate power of the typical antminer, leaving the consumers to choose between hashrate and sustainability. 

Crypto is here to stay and, despite its drawbacks, PoW is not going anywhere any time soon. However, anyone looking to get into mining has to be aware of the kind of cut-throat business they are entering. Until some serious regulations are in place, this market, as a whole, will be referred to as crypto Wild West among serious investors.

Bitcoin and Bitcoin payment button

Integrating a Bitcoin payment button into your website enables you to accept Bitcoin payments, and improves your transaction experience while simultaneously growing your customer base.

Proceeding text will try to provide answers to the following questions:

  • What is Bitcoin, and why do merchants nowadays opt for bitcoin transactions?
  • What is a Bitcoin payment button?
  • What are the benefits of the Bitcoin payment button?

Bitcoin (BTC) is a form of alternative payment digital currency. BTC is a decentralized exchange medium, meaning that it operates in real-time independently of any third-party authority -just like a virtual cash payment. As a result, the settlement between merchant and customer is secure, direct, instant, and effortless.

Since there are no financial intermediaries, there aren’t any extra fees or chargebacks like credit card use. Bitcoin is also not affected by foreign currency exchange rates either. In addition, bitcoin transactions do not require verification of your identity or an address, thus ensuring anonymity. The only thing you will need to send and receive Bitcoin is a digital wallet.

A digital wallet is a program that stores cryptogenic information about your digital currencies addresses and all of your transactions while allowing you to accept, hold, or sell them without limit.

The bitcoin button is a simple custom-built checkout link, designed similarly to conventional online payment buttons, except it allows receiving payment in Bitcoin digital currency. After each successful transaction, your bitcoin payment will be safely stored inside your digital wallet. Besides, providing the BTC payment option benefits your business in many ways. For example, it can expand your client base and increase your customer satisfaction. Furthermore, integrating the BTC as part of your company’s payment system benefits your exposure and makes your products or services cutting edge among the industry’s competition. Finally, having multiple payments and currency options expands your own experience range and boosts your confidence as a business owner.

The Bitcoin payment button setting doesn’t require integration of the payment gateway. It lets you skip lengthy payment processing time and offers a personalized checkout experience, regardless of whether you are selling a product, service, or receiving a

donation. In addition, the setup process is safe, quick, and easy, and it doesn’t require any complex technical coding skills besides copying and pasting.

For example, you may design your unique payment button’s features, such as adding a slider, changing the color palette, or you can simply set the upper and lower payment thresholds. Furthermore, it is effortless to share your BTC payment button URL address and choose which pieces of information you want a customer to disclose before finalizing the bitcoin transaction, allowing you to collect only the relevant data that matters to you most.

Finally, it ensures contactless and secure transactions from any location as long as you have an internet connection. The only thing you need to do is choose between the multiple website creators and make an account so that you can easily generate a bitcoin payment in no time.

How to make the BTC payment button in ten easy steps?

Nowadays, many website creators are available, but the basic BTC payment button creation and setup process essentially remains the same and minimally differs regardless of the website.

Step 1. First, create an account by following the instructions on a Sign-Up page.

Step 2. Activate your account.

Step 3. Log into your account on a dashboard.

Step 4. Choose and click on the ‘Payment Button.’

Step 5. Wait until you are redirected to your bitcoin wallet address.

Step 6. Once inside your bitcoin ‘Wallet’ section, enter your private key.

Step 7. Click on the ‘Product’ page and enter your product’s name and description.

Step 8. Choose the ‘Customer Field’ menu and fill out the details

Step 9. Click the ‘Save’ button option.

Step 10. Finally, click the ‘Generate Button.’

How to add the Bitcoin payment button to a website in 10 steps?

Once you have generated a Bitcoin payment button, an HTML code should appear.

Step 1. Under the ‘Step 1’section, select and click the ‘Copy code’ button to save the source code to your clipboard.

Step 2. Open your website and log into your admin panel.

Step 3. Open the page exactly where you wish to add your ‘Bitcoin payment button.’

Step 4. Paste the code.

Step 5. Go back to the ‘Step 2’ section

Step 6. Highlight and then click the ‘Copy code’ button to save the piece of code to the clipboard

Step 7. Go back to your website page where the ‘Bitcoin payment button’ is

Step 8. Scroll all the way to the bottom of the page

Step 9. Paste the script code.

Step 10. Finally, check if your new payment button appears on the page.

Congratulations! You did an amazing job, and now you can safely accept your Bitcoin payments. You may also turn on notifications to easily track your orders as well as gather additional information about your customers’ shopping cart conversion rate. Also, do not forget to set up an alert button while waiting on the payment. In this way, you will receive a notification via email each time your BTC transaction goes through!