Bitcoin history

A narrative history of Bitcoin values


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If you can put yourself back before the hysteria that some people fell into in the years leading up to December 21, 2012, you would remember Bitcoin was in the mix way back then, but it wasn't until after 2012 that it really gained traction and attention like it did in 2013 and later on.

 

Going back further, there were several groups of government software engineers and others in the 80s and 90s working on a self-sustaining electronic "trustless" currency system that would become the now-rising RFID/QR-based systems we see today in conjunction with "official" "blockchain" networks that have not just been born yesterday, but have been in the works for longer than most of us have been alive.

 

There is an early version of what is today known as a "whitepaper" that our government had put together, and released, which details a system that could very well be attributed to spawning the "N.S.T.I.C." and the macro-economy that has emerged and been enabled by the abilities of modern technologies to build a massive data harvesting, storage, and categorization system on a global and intergalactic and micro and theoretical and any flavor of "quantum" scale.

 

There are some families and dynasties that have been empowering the world with glut to be able to sustain unsustainable momentums for a while, and all the while they have been kicking cans down roads that don't belong to them.  They ran afoul of God's Word by producing the mark of the beast system, which makes every soul, every body, every person into a mere piece of merchandise and an object just like every other object and piece of merchandise that is bought or sold today around the world.  God hates this catalogue and God hates the people who give their power over to it because they are allowing it to become their god and they are forsaking the God of their salvation.

 

For as much knowledge as people have of the effects of taking all of the Earth's resources and burning them up as fuel for our cars and computers and everything else we use modern power for, you would think that someone would have told you by now that the reason the Earth is heating up is not only because of a shroud of heat caused by the aerosols in your hairsprays and the methane in cow farts, but moreso because for the past 70 or more years we have been sucking the Earth's veins dry of its oil.

 

In big factories, there are huge machines that use enormous motors driven by very large, powerful engines that run extremely hot.  These engines are often stored and used while they are submerged under oil, in giant vats designed to store this oil and house these engines while they run, and the oil is an effective heat barrier, acting as an insulator to absorb and diffuse the heat from the engines so that its effect on the environment is minimized.

 

Man did not invent this principle.  God had prepared this planet with just the right balance of what it needed to continue on for eons more than it will, now that man has destroyed it.  God speaks about this in His Word, and He says that man will be judged for destroying the planet.  For all of these years, man has been sucking the oil out of the Earth's relatively paper-thin crust, and these gigantic underground caverns where all these barrels of oil are being pumped out of are collapsing under the weight of the Earth's orbit and the now-empty spaces where there was once highly-pressurized "crude" oil.

 

Farming cows is not to blame for why the Earth is heating up.  The magma that is becoming lava is the heat source and human industry is the culprit.

 

Where once this highly-pressurized oil was, now the Earth's subterranean structures are collapsing and causing seismic shifts.  For decades, ships and trucks and crews of men and women have sought out and found and expired oil-drilling sites, gas-drilling sites, and all sorts of earth-shattering mining, including tunneling and underground city-building.  Dotting the planet's exterior crust mankind has punctured with non-precise perforations the very ground we live upon, sucked dry the wells out of the Earth, and then when these pools of oil become too low to be economically harvested anymore, before they cover them over with cement, they pump in all of their wastes and horrible byproducts from their mining operations, injecting these worst chemicals and mixtures and toxins too crazy to understand back into the Earth's veins.

 

While the Earth is crumbling in from the outside, the released pressure has now released fissures that are located at the end of the layer called the Earth's "crust" and there is magma, which is the essence of the internal physical nature of our planet.  Our planet insides are like a soup of burning rock so hot that it is just hot lava, and we live on a very thin layer of not-melted earth and rock, which was before perfectly suspended on a cushion of insulating oil.  Now major portions of this insulating, lubricating, pressurizing, regulating oil has been removed and vaporized into our atmosphere from our engines and factories and power plants.

 

The intrinsic value of Bitcoin and all "proof of work" coins is rooted in that they are using more and more electricity every day, in a profoundly exponentially way, which is programmed into them by design, and which is magnified by human greed.  With every "block" added to the "blockchain," a new calculation is generated which is added to the overall interpretation of the next needed level of "difficulty" to program the algorithmic riddles that run the mining operations for most of these kinds of cryptographically-secured blockchain-based systems.  They are designed to become more difficult to produce, and in many ways, more difficult to acquire in general, and more scarce, and more valuable as time goes on, until it all collapses.  As this process takes place, it uses more and more electricity.

 

I put together a solar panel crypto mining rig, to see what all is involved, and it is not a very difficult process, but for a person to do it on their own, it requires a level of electrical understanding that is not generally found without some sort of electrical background.  Of course, you can watch online videos and read tutorials for almost anything nowadays.  This is one mental solution that I could think of to reduce my impact on this problem, whilst I am also using cryptocurrency exchanges that I am guessing probably aren't run by solar panels.

 

Beginning here, the value of Bitcoin is ever-increasing to many people, who are interested only in making money with a short-sighted, "damn everyone on our way to Hell" mentality.  For some people, Bitcoin is the solution to everything they think that ails them, and the mark of the beast will just make sense when it is forced upon all society, which I believe we will all see by September 2023.  

 

This observer and reporter to you will not be accepting any such mark of the beast, nor will I be utilizing the image of the beast in any way, shape, or form.  I believe we are entering into the times when Jesus told us that when we see the abomination of desolation spoken of by Daniel the prophet, to stand in the holy place, for those who read and understand, and to let those who are in the valley of Judaea to flee to the mountains.  In Daniel and in the New Testament we are told that the end will be with floods.  In Genesis, God promised that He will not destroy the whole Earth again, as He did in Noah's day.  God will keep that promise.  That is what the rainbow signifies.  Yet, He also has given us ample warning that there will be flooding of water in the end days.  He is the One Who tells the water where its boundaries are.  A lot of human catastrophes would not be naturals catastrophes if people heeded the wisdom of Jesus Christ when He told the story of the wise man who builds his house upon the rock, and the foolish man who builds his house upon the sand.  People who live in houses built upon the sand are risking losing their earthly abode, and many of them are spiritually in the same risk.

 

While cryptocurrencies are not the forced mark of the beast, I do believe that these systems are kind of like carrots being dangled in front of us, to entice humanity into accepting a sort of "universal basic income" in the form of an "electronic identity ecosystem" agreement.  The whole world is going to be told to generate a QR code one day that is scanned as a precursor to receiving the actual mark of the beast.  It is all so obvious to people who are familiar with and have been reading the Bible for their whole lives, but the interpretative problems caused by having so many different corrupted versions of the same Book have prevented a lot of people from believing that anybody can actually truly believe any one version, but I have found the King James Version to be reliable and easily studied through the use of a concordance and other tools that are available today.  We are probably not going to see the year 2033 Anno Domini from the perspective we have now, because this Earth probably will not exist then.  I believe that 2023 will be confirmed as the beginning of the roughly seven year period described in Daniel and in the book of Revelation and throughout the Bible anywhere you read about God and His will for us, which is to be with us, and for us to be with Him, and this is made possible by the sacrifice of Jesus Christ upon the Skull Hill where He died, and by the power with which He picked His life up again by, which is His Holy Spirit.

 

This Holy Spirit lives inside of each of us today as a down payment on a future place to live, and as proof of our inheritance, and as a comforting Companion throughout all of our days.  I could write a million songs about the Holy Spirit and still not be able to fully describe Him because He is God and God is with us!  Repent!  The Kingdom of Heaven is at Hand!

 

One day, we will all need to come out of these systems because these systems will be incompatible with Christianity based upon the written Word of God known as the Bible.  It is a blessing to read and hear the Word of God.

 

It is a blessing to read and hear the book of Revelation.  It is a better blessing to read and hear and understand and apply the life-saving and life-changing wisdom found therein.

 

This Book the Bible tells us of a time when there is going to be a mandate of mandates that demands obedience to this beastly system that requires everyone to put a mark in their right hand or forehead, or to make an image to the beast.  The beast will give people special powers, all those who are in its sight, as long as they are in unity and alliance with the beast.  It will all be a lie, and it will all be destroyed in an hour, with great weeping and gnashing of teeth unlike anything ever before.

 

Perhaps it is already time to come out of the whore.  God is pouring out His Holy Spirit upon all flesh unlike any other time in history.  Most of the things in the Bible that need to happen have happened or are happening presently.  It has been what seems like a long time since the feet of Jesus Christ graced this planet, roughly 1988 years or so ago, but that's not really all that long ago, in the grand scheme of things.  The Bible tells us that the enemy has wrath, and that his weapon is that which wears out the saints.  God says that God provides patience and faith, and with these, a Christian will know all that God says from day to day, and will find life and life abundantly.

 

Today, November 11th, 2022 Anno Domini, this pilgrim gets to trade in crypto currency and watch charts and graphs and I am privileged to be able to make decisions with money that many other people around the world would work and give very much to be able to do, and I am not flippant or casual in my observance of the great privilege it is to live in America and be able to freely trade and work and move and worship as I will.  It is not something bad to be able to buy things because I have earned money to be able to buy them.  It is a good thing to be able to have money to purchase and make the way for me to go forward and live in life, and it is good to be able to support others in times and ways when they cannot support their own self, and I have been helped greatly by people when I have needed help, and I trust that when there is a need in the future, God will always provide exactly what is needed exactly when it is needed, because He has been 100% faithful 100% of the time, beyond what I am aware, and also within my awareness.

 

In early January, 2009, the first blocks of the blockchain for Bitcoin began threading together, and for almost two years, hardly anybody noticed aside from a few nerdy people and a few curious people and everyone else was totally unaware that Bitcoin had begun.  I remember hearing about it and reading a little bit about it, but thinking that it was outside of my reach, at least for a little while, because it required money to be input for it to work, and that was a thing I definitely did not have any extra to risk losing to this new thing called Bitcoin.

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For over a year, people speculated whether Bitcoin would ever be worth more than a penny.  It was worth fractions of a cent for a while, and people joked at people for risking getting into it, but the more I learned about it, the more interested I became, but alas, I still had the lack of funds to do anything with my interest, and there it stayed, elsewhere where I was distantly removed from much of the actual happenings back then in the early days of the early budding cryptospheres.

 

Then in early 2010, Bitcoin reached a penny's worth, then a few months later it was 10x that at up to about 10c in October of 2010.

It took Bitcoin about one year to get to one cent.  Then about a year later, it was at a dollar, disproving a lot of naysaying from early speculators who naysay for profit and sport, and gathering more interest from more people, but still mostly centered in the "tech world" crowd for the most part, and not really known about by many people yet.

 

Bitcoin fluctuated upwards dozens of dollars across 2011, and was traded for a little over $30 for a while in 2011, before settling down to $2, and again it gained some value in 2012, but it ended that year at a little under $15.

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After 2013 began at $13 and some change, Bitcoin's value quickly rose to break $100 by April of 2013 and it was worth over $1000 by November of 2013.  People were naysaying, yet now there were more people yay-saying, and more curious onlookers looking on.

I was still not yet ready to invest in any kind of cryptocurrency, but by this time I had become aware of pizza day, and I had heard that more cryptocurrencies were formed, and I had read bits and pieces about it all, so I was following from a tracking distance, while not yet really understanding a whole lot about how it all worked, and that is important information to me.

 

The chorus of naysaying reached a fever pitch in a lot of places, and it made a noise that was heard by people who weren't even paying attention to cryptocurrency, when Bitcoin crashed down from its peak of about $1000 at the end of November 2013, rapidly descending to the $400 - $500 range for a while, and people who held onto it had a little bit of hope when in early summer it began a sharp climb upwards to over $600, but then it quickly plummeted down and 2014 ended at around $300, then it stayed in the $200 - $300 range roughly all throughout 2015.

 

The cacophony of naysayers had all but quenched most newcomers from buying in, and a lot of people who did buy in early on during those early rises in value were sorely disappointed when they saw their newfound riches dry up and then become apparent losses, as they were negative assets for a lot of people in 2015.

 

Then in 2016, Bitcoin began hitting news articles online and even in some mentions on tv and network news.  The value of one Bitcoin began climbing throughout 2016, ending the year in the mid $900 range, and it was obvious to most onlookers that it was on track to break $1000 again very soon.

 

There wasn't yet a mass appeal, and there was no apparent utility or use for Bitcoin or cryptocurrency in general at the time, but it seemed like an interesting investment and more and more as I began hearing about it, I started thinking about putting some money in, and wondering how much would be good to start with.

 

Then I sort of forgot all about it for a while.  2017 was a busy year for me, and I stood on the tops of 14 mountains in a 12 month time frame, and I was very involved in a lot of extra curricular activities that were not cryptocurrency-related, until the end of 2017, when a new roommate that I had just moved in with introduced me to his understanding of cryptocurrency, and the world of trading it on exchanges online.

 

This guy educated me a lot over the course of a couple of days, and seemed able to any question I could ask him about cryptocurrencies, and I asked him a lot of questions as I wanted to really understand how it worked.  When he saw how eager I was to begin trading on the markets, he told me to make a Litecoin wallet, and he would give me half a LTC so I could get going.

 

So I did, and he did, and I got about $50 worth of LTC for free from him.  He explained to me that half a Litecoin used to seem like a lot to him, but now he had been so successful with trading that it was like nothing.

 

By the end of 2017, as we all know, Bitcoin showed us that it could hit $20k, and some exchanges even saw it trade at that number, and everyone who had purchased earlier was feeling very successful and brilliant for having done so, because no matter what, your wallet was fatter, because Bitcoin had exploded.

 

Then it crashed again.  And the naysayers abounded.  And it wasn't for about 3 years until Bitcoin's value recovered to that $20k mark and surpassed it.  For 3 long years, people were unsure of whether Bitcoin was a one-hit-wonder, or whether it would pump again and provide more people with more millions and billions and thousands and hundreds of dollars from their small investments.  For 3 long years, people dreamed of whether they would wake up one day and suddenly have lots more zeros in their bank accounts because their Bitcoin dream would pay off and they could cash out.

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And then, by the end of 2020, it was apparent that those who had any Bitcoin in their wallets were going to be able to cash out and be more wealthy than before, because Bitcoin was on a very rapid upwards ascent, and it ended 2020 at just shy of $30,000, a new high record.

 

Then, in April of 2021, Bitcoin reached a new high value of over $63,000, before dropping down into the $40k - $50k range for a while, and then on November 8th it was traded for it's current all-time record high of over $67,000.

 

That was about a year ago now, and looking at one graph, it appears as though if the patterns were to repeat in any similar fashion, we should be waiting a year or years before we can expect the markets to explode again, but, based on current situations and sentiments, and based on the new patterns that are emerging in markets today, I do believe we are about to see a much earlier Moonshot than what we have seen before.

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It would be unprofitable to hold onto your capital all the way through the Moonshot and not sell during its high phase, and hold onto it all the way back down to its next destination/resting value after its peak.  I am not sure that Bitcoin will last much longer, or cryptocurrencies in general, and if it does peak soon, I don't think we're going to get another peak after that before the whole system collapses for one reason or another, or before it becomes inaccessible due to policy or force.

 

It would be most ideal from a trader's profitability perspective, if you can time your buys and sells during times of volatility so that you're maximizing your crypto capital, and so that you can squeeze off some dollars to enjoy in the meantime while you are waiting for the Moonshot, at which point you can find a nice cushy spot to mostly or partially exit the vehicle called cryptocurrency, and enjoy having a lot more dollars than you had before, before watching the value of crypto return back down to its lower, not-super-duper-high value that it'll probably slowly drain from for the near foreseeable future.

 

This is of course all with the caveat that it could all crash tonight, and we could all lose everything that we have in right now.  This is a very real likelihood, and I see it as an imminent risk that we are all taking, by having any money in the system, so I recommend not having money in cryptocurrency that is necessary money for other things, or that would be overly painful if you lost it unexpectedly.

 

This being said, I am looking forward to this next moonshot.

 

There are a number of reasons to believe that Bitcoin could dip as low as down under $15k or even under $10k before the Moonshot, especially because it has shown in the past that there is a great decrease in value shortly before some of the larger increases, kind of like how some tsunamis draw out the water from the shoreline first, before returning way more water than it took.

 

For me, I am hoping that DOGE and SHIB continue to outperform in terms of positive volatility, and I can continue day trading, while also tucking some away regularly into cold storage.  I have begun gifting hardware wallets to friends, and showing them how they work, and giving them 12 words that seem to magically fill up their account with money once they load their first wallet that they received from me as a gift.  It is a fun way to give people something that I think will benefit them greatly in the future, and I am glad to help them understand how it works.

 

 

 

I hope that everyone who reads the good things I have to say about cryptocurrency also reads the warnings and I hope you understand that I believe what I say because it is true.

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fisherofmen
fisherofmen

an observer and reporter of grace and truth and love


Christian Observer Reporter
Christian Observer Reporter

Jesus Christ is Lord! This ministry is blessed by God to observe and report what is real and happening around us today, and to share God's Word among the nations, and to share the rest and contentment which comes from knowing Jesus Christ. ~ Except the Lord build the house, they labour in vain that build it: except the Lord keep the city, the watchman waketh but in vain. 2 It is vain for you to rise up early, to sit up late, to eat the bread of sorrows: for so he giveth his beloved sleep. Psalm 127.1-2

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