History of Bitcoin cryptocurrency

History of Bitcoin (BTC)

Bitcoin BTC is a decentralized cryptocurrency created in 2008 by the pseudonymous Satoshi Nakamoto. This account resumes the whole history of Bitcoin since 2008 to 2017 and 2018.

On 18 August 2008, the domain name Bitcoin was registered.

Later that year on October 31st, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. 

On the 9th of November, the Bitcoin project was registered at the open-source-projects community resource, SourceForge

How much was bitcoin worth in 2009? 

The value of the first bitcoin transactions were negotiated by individuals on the bitcoin forum with one notable transaction of 10,000 BTC used to indirectly purchase two pizzas delivered by Papa John's. This was the only major security flaw found and exploited in bitcoin's history. Based on bitcoin's open source code, other cryptocurrencies started to emerge.

On June 13th, 2011 the first bitcoin theft occured. User allinvain reported 25 thousand coins (375 thousands USD) were stolen.

Through time, the number of businesses accepting bitcoin continues to increase. 

In January 2017, NHK reported the number of online stores accepting bitcoin in Japan had increased 4.6 times over the past year. 

BitPay CEO Stephen Pair declared the company's transaction rate grew 3× from January 2016 to February 2017, and explained usage of bitcoin is growing in B2B supply chain payments. 

In 2017 Bitcoin gains more legitimacy among lawmakers and legacy financial companies. For example, Japan passed a law to accept bitcoin as a legal payment method, and Russia has announced that it will legalize the use of cryptocurrencies such as bitcoin. And Norway’s largest online bank, Skandiabanken, integrates bitcoin accounts.

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