#ThanksgivingBTCMoves
Bitcoin is the first decentralized cryptocurrency, launched in 2009. Here's an overview of its history:
Creation (2008-2009)
October 2008: A whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" was published by an anonymous person or group using the pseudonym Satoshi Nakamoto. The paper outlined the concept of a decentralized digital currency based on blockchain technology.
January 3, 2009: The Bitcoin network was launched when Nakamoto mined the first block, known as the genesis block or Block 0. This block contained the message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," referencing the financial crisis.
Early Adoption (2009-2011)
2009: Bitcoin had no monetary value initially. Early adopters mined it using personal computers.
2010: The first known commercial transaction with Bitcoin occurred when Laszlo Hanyecz paid 10,000 BTC for two pizzas. At the time, 10,000 BTC was worth about $41. This day, May 22, is now celebrated as Bitcoin Pizza Day.
2011: Bitcoin reached parity with the US dollar for the first time. Other cryptocurrencies like Litecoin began to emerge, inspired by Bitcoin.
Growth and Mainstream Attention (2012-2017)
2012: The Bitcoin Foundation was established to promote and develop Bitcoin. Coinbase, a major cryptocurrency exchange, was launched.
2013: Bitcoin's price surged past $1,000 for the first time but soon experienced a significant crash.
2014: The collapse of Mt. Gox, a leading Bitcoin exchange, highlighted vulnerabilities in the cryptocurrency ecosystem. The exchange lost approximately 850,000 BTC to hacks and mismanagement.
2016: Bitcoin underwent its second halving, reducing mining rewards and reinforcing its scarcity.
2017: Bitcoin's popularity soared, with its price reaching nearly $20,000 in December. This year also saw the launch of Bitcoin futures trading.
