Let's start with some quick rewind of Bitcoin making it to the horizen of world Economy. Prior to Bitcoin, there were many attempts in the field of peer to peer electronic cash system though none of them survived due to some inconsistencies in their system. However this hasn't been the case with Bitcoin and 'Satoshi Nakamoto' the so called inventor of Bitcoin had worked out those flaws in previous attempts.
The reason for the inception of Bitcoin lies in the fact that every few years banks and traditional money offices were failing to deliver their objectives. Banks often found themselves under a crisis and as result making people jobless and shutting down for common deposits.
It's however very debatable who Satoshi was, yet I strongly believe that he might be someone who had been a victim of centralized monetary authorities. My claim has its roots in the message that timestamped when Satoshi created the genesis block that reads..
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
It just took a few days for bitcoin to garner support from key persons who ever attempted at peer to peer money system. Hal Finney, Nick Szabo and Wei Dai took no time to walk with Bitcoin. First of the few transactions of bitcoin were done with these people.
Now what's history is just history but who can forget 'Bitcoin Pizza Day' that we celebrate every year on 22th May. On this day the first major transaction against physical goods was reported when someone bought two pizzas from a local restaurant in Florida and paid 10000 Bitcoins.
Ever since 2009 to today we have witnessed so many events, developments, price crashes, recoveries, hacks, investments, bans, scams etc. and all because of 1 notion that is indispensable 'freedom of money choice from centralised authority'. Bitcoin has successfully provided all the security and is designed to impart the belief in the Decentralized Economy.
Let's reload Bitcoin and take a look at the timeline of major events:
- 18th August 2008 bitcoin.org got registered.
- 31st October 2008 Bitcoin Whitepaper got published under the title 'Bitcoin: An Electronic Peer-to-Peer Cash System'
- 3rd January 2009 Satoshi Nakamoto mined the genesis block.
- 9th January 2009 first open source bitcoin client was released
- 12 th January 2009 first bitcoin transaction was done
- 22nd May 2010 2 Pizzas were bought for 10000 Bitcoins
- June 11, 2010 Gavin Anderson launched Bitcointalk forum
- July 2010 Bitcoin started trading at $ 0.08, the first ever price that is more than zero.
- December 12, 2010 Satoshi posted his final message on Bitcointalk
- November 28, 2012 First Bitcoin Halving
- May 2nd, 2013 First Bitcoin ATM
- Feburary 25th, 2014 Mt Gox Filed for bankruptcy
- January 14th, 2016 Official release of the Bitcoin Lightning Whitepaper
- May 10th, 2017 first lightning payment on LTC
To be continued tomorrow.....
Thanks for Reading
Stay tuned for more...
follow me on Twitter @hodlxpress
Tap Here to Earn Free Crypto
