What is Bitcoin & Quick Bitcoin History

Bitcoin Is A Cryptocurrency And Worldwide Payment System. It Is The First Decentralized Digital Currency, As The System Works Without A Central Bank Or Single Administrator. The Network Is Peer-To-Peer And Transactions Take Place Between Users Directly Through The Use Of Cryptography, Without An Intermediary. These Transactions Are Verified By Network Nodes And Recorded In A Public Distributed Ledger Called A Block Chain. Bitcoin Was Invented By An Unknown Person Or Group Of People Under The Name Satoshi Nakamoto And Released As Open-Source Software In 2009.

Bit Coins Are Created As A Reward For A Process Known As Mining. They Can Be Exchanged For Other Currencies, Products, And Services. As Of February 2015, Over 100,000 Merchants And Vendors Accepted Bitcoin As Payment. Research Produced By The University Of Cambridge Estimates That In 2017, There Are 2.9 To 5.8 Million Unique Users Using A Cryptocurrency Wallet, Most Of Them Using Bit Coin.

Quick Bitcoin History:

2008

Satoshi Nakamoto Created Bitcoin In 2008.

August 18, The Domain Name Bitcoin Org Was Registered.


2009

January 21, The First Bitcoin Transaction Was Made.


2010

February 6, The First Official Bitcoin Market Was Opened.

May 22, The First Online Bitcoin Purchase. Somebody Bought 2 Pizzas For 10 000 Bit Coins. Today, 10 000 Bit Coins Are Worth Around $110 000 000.

October 16, Btc Is Purchased & Traded As A Currency For The First Time.

November 6, Bitcoin Capitalization Amounted To $1 000 000.

2011

February 9, Bitcoin Equaled To The Dollar Value.

April 16, The Official Press Payed Attention To Bit Coins For The First Time. Time Magazine Published An Article About Crypto Currency.

April 23, The Btc/Usd Rate Reached And Exceeded The Usd/Eur And The Usd /Gbp Rate On The Mtgox Market. Total Bitcoin Capitalization Has Reached $ 10 Million.


2012

In 2012, Bitcoin Central Bank Received A License And Btc Has Turned Into Something Real As Compared To Its Previous Status Of An Abstract Digital Currency.

2013

April, The Biggest Fall In The Btc Rate Has Occurred By 80% In 24 Hours.

November, For The First Time The Price Of Btc Exceeded The Price Of Gold.

2014

January, The First Secure Bit Coins Depository, Elliptic Vault, Was Opened In London.

December, The Bitcoin Rate Reached $310. 2014 Can Be Considered As Stabilizing For Bit Coin, Which Was A Sign Of The Currency Strengthening.

2015

October, Btc Price Exceeded $500 – A Favorable Moment For The Digital Currencies Development History.

2016

Since Early 2016, Bitcoin Has Increased In Value by Approximately 120 %; Btc Exchange Rate Fluctuated Between $350400

By Mid-June, the Btc Rate Has Doubled and Reached $ 720

December, an Incredible Breakthrough, the Cost of Btc Grew By $ 200 per Month, and Market Capitalization Exceeded $ 15 Billion.

2017

Now, Coming Towards Dec 2017, Value Of A Bitcoin Is Roughly Rs 9, 12,163 ++++ Can You Even Imagine How Big It Will Be In The Coming Following Years?

Source : Internet