It’s been more than two years ever since we see Bitcoin hitting the news headlines for obvious reasons. The currency seems to be making news for being the costly kind of digital currency in the market. Although many call it pretty new on the bandwagon of Cryptocurrency, it is called a popular choice for many. It came into being in 2009 along with the technology that works at the backend called Blockchain.
Many of the people investing in their early days in bitcoin have made huge in this domain, running millions. Many, after making good money, ended up becoming interested in exploring it. People who are not aware of the same are doomed when to comes to repeating it with their mistakes; hence here we go with a brief history of
Cryptocurrency and Bitcoin as under:
The pre-bitcoin phase – 1998 to 2009: Although one may find several bitcoins becoming one of the established kinds of digital currency, there are several efforts to develop some online currencies using a secured kind of ledger seeking the encryption. Two examples of the same include Bit Gold and B-Money that seemed to have developed like a fully developed choice.
The Mysterious man called Mr. Nakamoto – 2008: The first time we heard about it was in the paper known as Bitcoin A Peer to Peer Electronic Cash System that seemed to be getting posted over the mailing list coming through the discussion over digital currency. This was posted by a man called Satoshi Nakamoto, who is behind the embarking with Bitcoin. However, today he is nowhere as his real identity remains a mystery to date. Consider visiting the bitcoin evolution to get more on it.
The Launch of Bitcoin in 2009: The Bitcoin-based software was made available and is still found for the public for the very first time when it comes to mining, and it is a process wherein one can find new bitcoin and other digital currencies, which developed and transacted that are recorded with the help of verified to carry out with the help of Blockchain.
The first valuation of Bitcoin – 2010: It was never traded as one can have seen getting mined; hence it was not possible to render it a monetary value to bitcoin that falls under the emerging digital currency. In 2010, one can find certain with the certain decision to sell the same for the first time to swap 10K for getting two pizzas from a local store. Imagine the value of the same today if the said man had possessed them today.
The Rival cryptocurrencies emergence – 2011: As Bitcoin is seen boosting up the popularity along with the idea about the decentralized kind of option that is seen encrypted. These are coming along with the best way. At times one can find Altcoin that tends to emerge like an improved version using the original Bitcoin design as seen getting offered with a good pace along with anonymity with several benefits. Among the other digital currencies, one can find Litecoin and Namecoin that also came with it. Today, we have more than 1K of digital currencies that tend to remain in circulation, and we still keep on getting one and the other.
Crash of Bitcoin – 2013: Just when the price of Bitcoin was seen reaching 1K USD for the first time, one can quickly witness the start of its decline. Several currencies are being invested at this point when we have suffered losses to see the price going up beyond 300 USD. It took two years for the digital currency to recover with 1K USD once again.
Scam and Theft – 2014: The unsurprising thing that came for the currency is that it maintains good privacy and anonymity and even was seen lacking control in the hearts and minds of people running the show. Thus Bitcoin seems to have emerged as an attractive and lucrative deal when it comes to targeting criminals. In January 2014, Bitcoin emerged as the largest digital coin at the cryptocurrency-based exchange called Mt.Gox that soon went offline, and with the owners of the people, 850K Bitcoin did not witness the same again.
Ethereum and ICOs – 2016: With Bitcoin already on the rise, this very year, we saw the emergence of other currencies like ICOs and ETH. These are also blockchain-developed digital assets.
Bitcoin – 2017: The growth of Bitcoin continues to grow, and this year it reached 10K USD.
