The Begining of the world’s first cryptocurrency
Bitcoin was first heard of on the 18th of August 2008 when the domain “Bitcoin.org” was registered. It wasn’t long before the initial or first whitepaper of Bitcoin was released on the 31st of October 2008. The whitepaper was titled “Bitcoin: A Peer-to-Peer Electronic Cash System” and Satoshi Nakamoto was the writer of the official document.
The word was spread through a cryptography mailing list. On the 3rd of January, 2009 Bitcoin’s network was introduced to the world, and the first block was mind by Satoshi Nakamoto at 1815 GMT (11:45 pm). The text “The Times 03/Jan/2009 Chancellor on the brink of the second bailout for banks” was embedded on block 0.
The world’s first Bitcoin transaction occurred on the 12th of January 2009, and a user received 10 Bitcoins by Satoshi. Although back in 2009 Bitcoin had almost no worth, today that 10 Bitcoins worth would be well above $60,000. Satoshi mined over a million Bitcoins after which he completely vanished from the cryptocurrency world handing over the management to the developer Gavin Andresen.
Although to this date the person responsible for giving birth to the world’s most expensive cryptocurrency is unknown, it is assumed that Satoshi Nakamoto built it. a majority of people say that he had a team with him which helped him in the coding of the various software. Satoshi left the world of cryptocurrency during mid-2010, after which in 2011 he stated that “he had moved onto other things.”
During the early years, Bitcoin was mostly used for illegal and criminal activities. It was used for money laundering, buying and selling illegal drugs, weapons and even offered to hackers for hacking personal accounts. Bitcoin was in the grey area for a very long time until it started gaining some real value after which the government couldn’t ignore cryptocurrency’s existence anymore.
On the 22nd of May 2010, Laszlo Hanyecz who is a cryptocurrency developer paid a delivery man over 10,000 Bitcoin in return for two pizzas. At the time Bitcoin wasn’t worth much and so the entire transaction was worth just a little over $40. However, if the delivery man had held onto the 10,000 Bitcoin then today he would be worth over $30 million just through this Bitcoin transaction.
The 22nd of May is since then called “Bitcoin Pizza Day.”
Bitcoin (BTC) Price Today – BTC / USD
Where is Bitcoin heading to in 2019?
Bitcoin is undoubtedly one of the most volatile and closely watch digital assets on planet Earth. Starting from a value of $0 the cryptocurrency is currently worth roughly $6,400 and has hit an all-time high of almost $20,000. 2018 has been a bad year for Bitcoin and almost all other Altcoins including Etherum.
However, despite the bearish market crypto-experts seem to think that Bitcoin would be worth over $20,000 during the December of this year. Investors are hoping that the US Securities and Exchange Commission (SEC) will approve the Exchange traded fund (ETF). If the SEC approves the ETF then Bitcoin could be worth well over $20,000 since the ETF is a very famous trading technique.
At the moment, the US Securities and Exchange Commission (SEC) hasn’t approved it and one of the reasons the government is reluctant about it is because of the risk of massive frauds. A majority of investors and experts are positive about the cryptocurrency market and so we can expect a “Happy 10th Birthday” for Bitcoin.