Bitcoin History: Everything You Need To Know About the Currency Of The Future
The drastic rise of bitcoin and other cryptocurrencies have captured the attention of the media in recent months, but almost nobody is clear about what they are. Are there physical coins? Can you use them in supermarkets? Is a bitcoin bubble looming? What is the blockchain
? Bitcoin is the world’s first decentralized critical financial network. Its value has gone from zero to billions and after it; there is a history of innovation and a pizza for which 22 million dollars were paid. This is a summary of the history of one of the worst understood and most profitable technological advances of recent times
January 3, 2009: Bitcoin Was Born
One or several people under the name of Satoshi Nakamoto launches the Bitcoin network with the creation of the “Genesis Block”, the first entry in Bitcoin’s global transaction log. The code includes a text that says, “The Times 03 / Jan / 2009 Chancellor on brink of the second bailout for banks”
The text corresponds to a front page of the times indicating that it was created on January 3, at the same time highlighting the instability of the financial environments. Any copy of that newspaper is now a collector’s item.
January 9, 2009: Bitcoin Became Public
Nakamoto announces version 0.1 of Bitcoin in the Cypherpunks mailing. He had previously published a PDF on the list explaining the design of the network on November 8, 20008.
December 30: Mining spread
Interest in the currency skyrockets, which makes it more difficult for mining, the network performs the update on its own, producing a new batch every 10 minutes on average.
The First Real Financial Transaction and the Goodbye of Nakamoto
May 18, 2010: The pizza of 33 Million
Laszlo Hanyecz was the first one to spend bitcoins in exchange for something and he went down in history, so in this case, Laszlo paid 10.000 BTC (that is, Bitcoins) in the return for getting a pizza delivery
Someone did it back then; each BTC was worth 0.0025 dollars. Those bitcoins are worth more than 33 and a half million dollars
The Bombing of 2017
August 1, 2017: Bitcoin Is Divided
After a sequence of historical climbs, some miners and startups decided to separate themselves from the original developers creating what is called “the hard fork”, bitcoin became bitcoin cash and bitcoin core, and bitcoin classic and Bitcoin unlimited are born.
Throughout the year, Bitcoin does not stop to mark historical highs, exceeding $ 3,400 per coin on August 7 and a total value of 5,000 million. This separation does not appear to have damaged confidence in the currency but rather to strengthen it
China has announced the creation of its own cryptocurrency and the governments of India, Australia and many more are studying how to include