Bitcoin’s History: From its creation until today

[juliablanks16]

# 1 year, 10 months ago

Bitcoin, the first decentralized digital currency was created by an individual or a group using the pseudonym Satoshi Nagamoto in 2009. The identity of the individual or group behind the pseudonym is unidentified to this day.

Bitcoin was developed as a reaction to the 2008 global financial crisis which many people blamed the banking system and central financial institutions. Nakamoto’s idea was an electronic peer-to-peer cash system that could allow individuals to transact directly without the need for intermediaries.

The very first Bitcoin transaction was made on January 12th in 2009. Nakamoto sent 10 Bitcoins, along with a few other Bitcoin enthusiasts and Hal Finney. This transaction was the beginning of the Bitcoin network. It is now maintained by a network of computers across the globe.

Bitcoin Market that allows people to purchase and sell Bitcoins in exchange for fiat currencies, was established in the year 2010. This was an important event for Bitcoin because it allowed for greater acceptance by the general public and improved liquidity.

The Mt. Gox, one of the biggest Bitcoin exchanges of the time, was attacked, resulting in the loss of 850,000 Bitcoins. Although this was a major setback, the currency eventually recovered.

In 2013 the value of one Bitcoin was $1,000 for the first time, a important milestone in the history of Bitcoin. This was followed by an era of rapid growth. The price of one Bitcoin reached an all-time record $19783.06 in December 2017.

The value of Bitcoin fluctuated between the time it was created until today, however it’s still a well-known digital currency that is widely accepted by businesses and merchants for payment.

Bitcoin has also influenced the development of a variety of other cryptocurrency also known as altcoins that have the same characteristics and functions.

Bitcoin was created in 2009, by an unidentified person or group whose pseudonym was Satoshi Nakamoto. Bitcoin is a decentralized, decentralized digital currency that allows peer-to-peer transactions, without the necessity of intermediaries. Bitcoin has experienced an impressive growth rate since its beginning and is now an established digital currency. Despite some setbacks (e.g. hacking) Bitcoin has been a huge success and has inspired the creation of a variety of other cryptocurrency.

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