A Brief History of Bitcoin

October the 31st, 2008 – White Paper

‘Bitcoin: A Peer-to-Peer Electronic Cash System’ was a white paper released under the pseudonym of ‘Satoshi Nakamoto’. This white paper outlined the functionalities of what would become the Bitcoin blockchain network. This was the first digital currency attempt that solved the double spend problem, this issue had stopped all previous attempts at fabricating a digital currency.

January the 3rd, 2009 – Genesis Block

The first block of the Bitcoin network was mined by this mysterious Satoshi, this block was called the Genesis Block. It included a reference to the 2008 financial crisis and paved the way by showing this network and currency system works..

May the 2nd, 2010 – First purchase using BTC

The earliest recorded purchase using Bitcoin was made by Laszlo Hanyecz when he bought two pizzas for 10,000 BTC.

March the 17th, 2010 – First exchange

The first, but now closed, cryptocurrency exchange is believed to be ‘bitcoinmarket.com‘, which was released in March, 2010.

February 2011 – USD parity

Bitcoin reached parity with the USD in February. In the following June the first bubble occurred, with Bitcoin momentarily reaching 31 USD.

February 2014 – First exchange hack

One of the largest early hacks saw 850,000 BTC being stolen from exchange company Mt.Gox. This amount of Bitcoins at the current price is almost $10 Billion.

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