The Origins of Bitcoin
In May of 2010, the Bitcoin was worth less than $0.01 US Dollars.
Currently, one Bitcoin is equivalent to 8,974.01 US Dollars, and in December 15, 2017, it peaked at $17,900.
How did this crazy growth happen?
What is the story behind this crypto-currency’s uprising?
Keep reading to find out.
A person, or group of people, by the name of Satoshi Nakamoto release an outline for a peer-to-peer electronic cash system.
Such publication was groundbreaking, as its proposed transactions wouldn’t need a centralized bank or treasury as a third party.
January 3, 2009:
The first 50 bitcoins are launched by Satoshi Nakamoto.
The first entry read, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
May 18, 2010:
Laszlo Hanyecz becomes known as the first person to spend bitcoins on a tangible financial transaction.
He offered 10,000 BTC to whoever bought him pizza and someone did.
Crypto-currency turns out too be as vulnerable as cash when it comes to theft.
Enterprising groups begin coming up with ways to authenticate the Bitcoin, like the Paly Entrepreneurs Club.
2013: Overall Increase in Value
All of the bitcoins added up amount to over a billion dollars. This makes the Bitcoin very popular in the media.
November 29, 2013:
Bitcoin surpasses the $1,000 mark, which doubles its value in comparison to the previous week. It’s value peaks at $1,215.70 by the need of the month.
April 1, 2017:
Japan legalizes Bitcoin as a valid form of payment. This causes the value of the Bitcoin to go up.
Bitcoin reaches around $3,000 after a strong momentum.
June 15, 2017:
November 28, 2017:
Bitcoin goes through the roof and reaches $10,000. The price goes up to $11,000 later the same day.
About 100,000 accounts open on Coinbase.
December 17, 2017:
$19,783! Bitcoin is at its history peak. However, on December 22, the currency goes down to under $13,000.
Sources and Inspirations: