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Beginning of the 10-Year Brief History of Bitcoin 31 October, we have left behind 10 years after the release of the bitcoin white paper by Satoshi Nakamoto, whose identity remains a mystery.
In a short period of time, bitcoin challenged modern society's view of global finance and banking, and became the catalyst for the birth of more than six hundred different crypto currencies as well as many other blockchain projects.
The history of Bitcoin has been filled with many rises and falls, leading to controversy over the years with this volatility. With the white paper presented to the public, a movement was created that left an indelible mark on many industries.
The Crypto Guide has been in Bitcoin's 10-Year Brief History article for 10 years since the implementation of bitcoin. most memorable and bad take a look at some of the moments.
Bitcoin Block Statistics
Years Developing Bitcoin
On August 18, 2008, the Bitcoin.org domain name was registered as a pioneer by an unnamed entity that defined the subtleties and benefits of the Bitcoin protocol.
This came to life on October 31, 2008 with the release of Bitcoin white paper. The first nine-page document was distributed to the cypherpunk mailing list in November 2008.
Nakamoto on 3 January 2009, founding block of Bitcoin block chain Genesis Blocknu created. Genesis block 50 BTC encoded and created in Bitcoin software cannot be wasted due to the way the code is written. The exact reasons for this are unknown, which is another mystery to add to Satoshi's story.
The average time between the creation of new blocks was 10 minutes, but according to the time stamps of these particular blocks, it took six days to add the next block to the Bitcoin block chain.
However, the first Bitcoin The process took place on January 12, 2009 between Nakamoto and Hal Finney, who contributed early to the project. Nakamoto sent Finney 10 BTC as tests, but bitcoin mining began.
Ten months later, on October 5, 2009, New Liberty Standard set the first Bitcoin exchange rate against the dollar. At that time, it was equal to $ 1 2300.03 BTC.
On the history of Bitcoin the first operation on physical goods It took place on May 22, 2010. The famous Bitcoin Pizza event started by Laszlo Hanyecz, receiving two pizzas for 10,000 BTC. A software developer offered BTC on a Bitcointalk.org forum for two pizzas. A youngster named Jeremy Sturdivant, who was nicknamed Jercos, accepted Bitcoin and sent Hanyecz two pizzas from Pope John.
The process is a funny turning point for the history of Bitcoin, but it is surprising that what can be purchased with the same amount of BTC today is often used as a reference point for the increase in the value of the crypto currency.
10-Year Brief History of Bitcoin
First Highest and Lowest
On February 9, 2011, Bitcoin reached a parity of 1: 1 in US dollars. This was a milestone for Bitcoin and would mark the beginning of a tough period for Bitcoin. In just four months time, Bitcoin jumped from $ 1 to $ 31.91.
Four days later, on June 12, 2011, Bitcoin was the first major correction that the Bitcoin community experienced and fell to $ 10.25. This is Mt. The first major security breach of Gox on June 19, 2011 was intensified.
After a relatively quiet six months, the price of the Bitcoin fell again, following the news that the e-wallet company Paxum decided not to accept the BTC. This time period is high in Bitcoin volatility and humbly corrections point to the first real example.
After a relatively quiet six months, the price of the Bitcoin fell again, following the news that the e-wallet company Paxum decided not to accept the BTC. In this time period, Bitcoin was the first real example of high volatility and humble corrections.
First half, close to Silk Road Closure & Mt. Gox Closure
On November 28, 2012, the first half of the Bitcoin award system was achieved after the 210,000 blocks were excavated, reducing the block award from 50 to 25 BTC. The price of BTC continued to rise to 2013, and the crypto currency for the first time on April 9 exceeded $ 200.
Just before the fifth anniversary of the Bitcoin white paper, things went awry, because the dark website Silk Road closed and more than 26,000 BTC were confiscated. The bitcoin price fell from $ 139 to $ 109 in a few hours.
In February 2014, the rumors of Mt. Gox was attacked and after a series of ”robberies res on the stock market, he had suspended the month swap officially. At the end of February Mt. Gox CEO Mark Karpeles resigned from his post on the board of directors of the Bitcoin Foundation.
In March, the company filed for bankruptcy protection with a debt of $ 60 million announced by its legal team. Around 850,000 BTC were el lost m by Karpeles on charges of technical issues related to the Bitcoin protocol.
Gavin Andresen of the Bitcoin Foundation rejected these allegations and said that the Mt. Gox's wallet software.
10-Year Brief History of Bitcoin
Getting used to it
Mt. The debates surrounding the Gox debacle and the Silk Road gave a negative perception to Bitcoin over the next few years.
On December 11, 2014, Microsoft began accepting Bitcoin payments and was a major turning point for Bitcoin approval by global companies.
Six years after Satoshi launched the Bitcoin white paper, the crypto currency appeared on the front page of The Economist on October 31, 2015.
10-Year Brief History of Bitcoin
Between these positive moves for the crypto money, the bitcoin value has passed a stable period of two years.
On July 9, 2016, the second half of the bitcoin mining awards took place and the BTC award fell to 12.5 per block.
Bitcoin's 10-Year Short History Big Bull Run
The dawn of 2017 marked the beginning of the biggest bull race in Bitcoin history, the most productive year of the crypto currency, and the process of transition to its main consciousness. Bitcoin, which passed the resistance of $ 1000 USD three years ago, was once again hit on 2 January 2017.
On March 10th, 2017, the Winklevoss twins, who successfully sued Mark Zuckerberg for stealing intellectual property that led to the creation of Facebook, took over the headlines. The brothers have applied for the launch of the Bitcoin Exchange Traded Fund (ETF). The application was rejected by the US Securities and Exchange Commission (SEC).
The price of the bitcoin was expected to reach the highest level of all-time per week, although the ETF expects approval. Before the start of a slow and regular rally, the value of the crypto currency was shortened by several months.
On June 11, Bitcoin exceeded the value of $ 3,000 for the first time in an ongoing discussion of possible measures to address scalability issues affecting Bitcoin.
On August 1, 2017, this ended badly because a small portion of the Bitcoin community could not agree with the proposed changes in the protocol. As a result Bitcoin Cash Born and original Bitcoin the blockchain'n it was hard forking.
A few weeks later, on August 23, 2017, the SegWit soft fork became active as a result of a decision to support SegWit at the same time, resulting in the Bitcoin Cash rigid fork.
However, in the 10-Year Brief History of Bitcoin, the value continued to grow and on September 2, 2017, it exceeded $ 5,000.
A few weeks of volatility has banned the ICOs and crypto-currency exchanges in China from operating in the country, as BTC's price fell to $ 3,000 before it recovered. JPMorgan Chase CEO Jamie Dimon's comments about Bitcoin's andır fraud JP were another factor in this case.
After this dust on Bitcoin collapsed, Bitcoin started a mind-blowing bull from October. The crypto currency exceeded US $ 10,000 on November 29th and exceeded $ 11,000 a few hours later.
Crypto currency continued to gain value as investors are striving to participate in the movement. The sustaining factor was the perception that the introduction of Bitcoin futures in December 2017 would lead to the flow of corporate money to Bitcoin, which would further increase the price of the encryption currency.
Bitcoin, the first time in Bitcoin's 10-year Brief History, has broken the $ 20,000 mark, without a sign of stop, and there was a historic increase for the crypto currency. Unfortunately, the Bitcoin price regressed to $ 13,000 by December 31, 2017.
2018 Record Decline in Bitcoin Volatility
Bitcoin's 10-year short history
After the supreme highs of 2017, the crypto-currency community had to make a difficult start to the new year. In January, it was seen that the Bitcoin price fell to $ 10,000 with the FUD wave seizing the markets.
The murmur of a crypto-currency ban in South Korea increased China's current crypto currency sanctions, as well as contributing to the fall of volatility in Facebook's banning of crypto currency and ICO ads on its platform.
In February, things seemed gloomy because Bitcoin fell to $ 7,000 on February 6, 2018.
On the same day, Commodities and the Future Trade Commission SEC, crypto currencies, ICO and blockchain held a highly anticipated trial focusing on technology.
The meeting ended as a lifeline, while promising to provide an environment that protects investors from the inherent risks and natural risks of participating in ICO financing, while creating a positive outlook for Bitcoin.
Crypto currency markets recovered after the hearing, but the next few months remained relatively unstable.
In March, Twitter banned crypto currency advertising Facebook follow the steps, Google also announced plans to halt crypto-currency advertising through the AdWords service.
The drop in bitcoin value reached its lowest point on June 24, 2018. According to CoinMarketCap data, the crypto currency dropped to $ 5,868.
Bitcoin 2008 - 2018 Fees
Bitcoin's 10-year short history
Despite the fall in the middle of the year, the markets gradually began to lead the SEC's decisions on a number of expected ETF offers.
Unfortunately, SECCrypto-money investors were disappointed, as they rejected all nine Bitcoin ETFs due to concerns over. Insufficient resistance to price manipulation. On August 2.
This is recommended ETFs Although the final decision on the future has been pushed further into the future, we currently have a silver lining for Bitcoin.
On October 17, the fluctuation in the Bitcoin market saw its 17-month low and its stability over 12 months reached its highest level. This has led various industry experts to make optimistic predictions for the crypto currency benefit.
When celebrating the 10th anniversary of Bitcoin white paper publicity, it is important to recognize this jerky journey over the past decade.
Although full of challenges, the cryptocurrency continued to be the most valuable in terms of market capitalization - over six hundred thousand since Bitcoin was founded in 2008 crypto currency Introducing an impressive success.
Midpoint Map of Bitcoin