They say that to learn about something you must understand their past first. That is true with anything else. Bitcoin has been learn, studied and analyzed by many people but do you know its history? In this article we will look into how bitcoin started in its early years and on how it progressed and became on what it is today.

2008-2010

The first bitcoin transactions were carried out in private, so no one really knows when or how numerous they were, but the first trade is believed to have been between Nakamoto and developer Hal Finney. Many have speculated that Finney, who died in 2014, may actually have been Satoshi.

Bitcoin adoption grew slowly at first, with the cryptocurrency first fetching mainstream attention in May 2010 on a day that has since become known as “Bitcoin Pizza Day.”

It was May 22, when the purchase of the two Papa John’s pizzas by Laszlo Hanyecz from another bitcoin enthusiast marked what is believed to be the first “real-world” bitcoin transaction. Hanyecz traded 10,000 bitcoins for two large Papa John’s pizzas, a sale now worth around $63 million.

2013-2016

Bitcoin’s journey continued slowly at first, but it hit the mainstream in 2013 after the first of several hyperinflation incidents occurred in the currency. In late 2013, the cryptocurrency spike in value from around $100 per coin to $1,000 in just over a month, before halving in value over the next three or four months. Bitcoin would not hit $1,000 again until 2017.

The spike, however, drew mainstream media attention, with Business Insider’s Joe Weisenthal penning a now well-known op-ed titled ” I’m Changing My Mind About Bitcoin” – having just weeks earlier called bitcoin a “joke.”

For the next three years, bitcoin stayed in a range of around $400 – never trading above $650 or much below $250. The most notable event during that time was the collapse of Mt Gox, the first ever exchange, which filed for bankruptcy protection after hackers stole nearly $500 million of bitcoin, and a further $30 million of cash deposits.

The hack, still the largest ever in the crypto space, exposed massive security flaws, and exacerbated bitcoin’s reputation as a Wild West asset with little to no financial protection for its users.

2017 and onwards

After three years of relative calm, bitcoin truly hit the mainstream in 2017, a year which saw the cryptocurrency increase in value from around $1,000 per coin to almost $20,000 per coin in a matter of months.

Part of the spearhead for that huge jump in value was the bitcoin “fork” which saw bitcoin split into bitcoin and bitcoin cash, after a group of Chinese developers decided to split bitcoin’s original code in protest at what Reuters calls “improvements to the currency’s technology meant to increase its capacity to process transactions.”

2017 also saw the first major public efforts from financial institutions to get involved in cryptocurrencies, with two US exchanges, the CME and Cboe, creating platforms for customers to trade bitcoin futures. Numerous major banks also announced projects involving crypto, which helped fuel the rapidly expanding bubble in bitcoin’s price.

That bubble began to burst just before Christmas – only a couple of weeks after futures were launched – and by the end of January 2018, bitcoin had fallen from around $20,000 per coin to just $10,000.

The falls were driven in part by rising fears that regulators planned to crack down on the cryptocurrency, which had largely operated outside the auspices of normal regulators until that point.

Bitcoin continued to decline during early 2018, before eventually stabilizing at around $7,000 per coin. It has remained in the $6,000 to $7,000 range since June, and the volatility that characterised the market in 2017 and early 2018 has all but evaporated. On its 10-year anniversary, bitcoin is trading at $6,305 per coin, according to Markets Insider.

While it has now well and truly entered the mainstream consciousness, there are still concerns that it has longevity, and could ultimately fail. Even Wences Casares, widely known as bitcoin’s “Patient Zero” for his role in spurring interest in crypto in Silicon Valley, expressed worries about its future.

“It may work, it might not work,” he told Bloomberg on Monday. “We are in the equivalent of 1992 for the internet.”

51 Comments
  1. this web hosting 5 months ago

    Today, I went to the beach front with my children. I found a sea
    shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.”
    She placed the shell to her ear and screamed. There was a hermit crab inside
    and it pinched her ear. She never wants to go back! LoL I
    know this is entirely off topic but I had to tell someone!

  2. j.mp 5 months ago

    That is a really good tip especially to those new to the blogosphere.
    Brief but very precise info… Many thanks for sharing this
    one. A must read post!

  3. bit.ly 5 months ago

    Hello there! Would you mind if I share your blog with my myspace group?
    There’s a lot of folks that I think would really appreciate your content.

    Please let me know. Many thanks

  4. You actually make it seem so easy with your presentation but
    I find this matter to be really something that I think I would never understand.
    It seems too complicated and very broad for me.
    I’m looking forward for your next post, I will try to get the
    hang of it!

  5. is scoliosis surgery 5 months ago

    Excellent post. I will be experiencing a few of
    these issues as well..

  6. asmr of 5 months ago

    Usually I don’t read article on blogs, however I would like to say that this write-up very compelled
    me to try and do so! Your writing style has been amazed me.
    Thank you, quite nice article.

  7. bitly.com 5 months ago

    Hi there to every one, as I am genuinely eager of reading this web site’s post
    to be updated on a regular basis. It carries fastidious material.

  8. what asmr 5 months ago

    Thanks for finally writing about > Learn about
    the past and story of the world's most popular investment:
    Bitcoin | Finwaze < Loved it!

  9. scoliosis surgery when 5 months ago

    These are in fact great ideas in concerning blogging.
    You have touched some good factors here. Any way keep up wrinting.

  10. an quest bars 5 months ago

    I like it when folks get together and share opinions.
    Great site, keep it up! quest bars http://tinyurl.com/49u8p8w7 quest bars

  11. app.gumroad.com 5 months ago

    I do not even understand how I finished up right here, however I assumed this
    put up was good. I do not recognise who you’re however
    certainly you are going to a well-known blogger if you
    are not already. Cheers! asmr https://app.gumroad.com/asmr2021/p/best-asmr-online asmr

  12. bitly.com 4 months ago

    Hello it’s me, I am also visiting this web site daily, this site
    is in fact pleasant and the users are really sharing nice thoughts.
    ps4 games https://tinyurl.com/45xtc52b ps4

  13. bitly.com 4 months ago

    Hi there! Do you know if they make any plugins to assist with
    SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains.
    If you know of any please share. Thanks! cheap flights http://1704milesapart.tumblr.com/ cheap flights

  14. bit.ly 4 months ago

    It’s remarkable to pay a visit this web page and reading the views of all mates on the topic of this post, while I am also keen of getting experience.
    scoliosis surgery https://0401mm.tumblr.com/ scoliosis surgery

  15. iherb.com 4 months ago

    I’m gone to inform my little brother, that he should also pay
    a quick visit this website on regular basis to take updated
    from most recent news. quest bars https://www.iherb.com/search?kw=quest%20bars quest bars

  16. coub.com 4 months ago

    With havin so much content do you ever run into any problems of plagorism or copyright violation? My
    site has a lot of completely unique content I’ve either written myself or outsourced but it appears a lot of it is
    popping it up all over the internet without my agreement.
    Do you know any techniques to help protect against content
    from being ripped off? I’d definitely appreciate it. scoliosis surgery https://coub.com/stories/962966-scoliosis-surgery scoliosis surgery

  17. Domingo Mutch 3 months ago

    Appreciating the dedication you put into your blog and detailed information you provide. It’s awesome to come across a blog every once in a while that isn’t the same old rehashed material. Excellent read! I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.|

  18. Oscar Marazzi 3 months ago

    Its not my first time to visit this site, i am visiting this web page dailly and take nice facts from here everyday.|

  19. why ps4 games 3 months ago

    I have to thank you for the efforts you’ve put in writing this blog.
    I am hoping to check out the same high-grade
    blog posts from you later on as well. In fact, your creative writing abilities
    has motivated me to get my very own site now 😉

  20. Hae Mandy 3 months ago

    Very good post. I am dealing with some of these issues as well..|

  21. Kelly Borys 3 months ago

    I think the admin of this website is genuinely working hard in favor of his website, because here every stuff is quality based data.|

  22. Dori Many 3 months ago

    It’s an awesome paragraph in support of all the online viewers; they will obtain benefit from it I am sure.|

  23. for ps4 games 3 months ago

    Woah! I’m really enjoying the template/theme of this blog.

    It’s simple, yet effective. A lot of times it’s hard to get that
    “perfect balance” between user friendliness and visual appearance.
    I must say you’ve done a excellent job with this.

    Additionally, the blog loads extremely quick for me on Safari.

    Excellent Blog!

  24. it ps4 games 3 months ago

    Right now it appears like WordPress is the top blogging platform out there right now.

    (from what I’ve read) Is that what you’re using on your blog?

  25. Marcell Karpe 3 months ago

    Hi, i believe that i saw you visited my website thus i came to return the favor?.I am attempting to to find issues to enhance my website!I assume its adequate to make use of some of your concepts!!|

  26. Ethan Mariska 3 months ago

    Everything is very open with a really clear description of the challenges. It was truly informative. Your site is useful. Thanks for sharing!|

  27. Bret Mckouen 3 months ago

    Way cool! Some very valid points! I appreciate you writing this write-up and also the rest of the website is also very good.|

  28. Norberto Dunsmoor 3 months ago

    This article provides clear idea designed for the new viewers of blogging, that in fact how to do blogging and site-building.|

  29. Hiram Ruthman 3 months ago

    May I simply say what a comfort to discover a person that genuinely understands what they are talking about on the web. You definitely realize how to bring a problem to light and make it important. A lot more people really need to check this out and understand this side of the story. I can’t believe you’re not more popular because you most certainly have the gift.|

  30. Daryl Aceto 3 months ago

    I all the time emailed this weblog post page to all my contacts, as if like to read it next my contacts will too.|

  31. Barrie Ziesman 2 months ago

    I do not even know how I finished up right here, however I thought this put up was once good. I don’t know who you’re however certainly you’re going to a famous blogger in case you are not already. Cheers!|

  32. why asmr 2 months ago

    Hi, i believe that i noticed you visited my
    website so i came to return the desire?.I’m attempting to to find issues to improve my site!I guess its ok to
    make use of a few of your concepts!!

  33. Junie Hoffner 1 month ago

    This post provides clear idea in support of the new visitors of blogging, that truly how to do blogging.|

  34. Colene Schaffhauser 1 month ago

    I am regular reader, how are you everybody? This post posted at this website is genuinely nice.|

  35. Delmar Axe 1 month ago

    Generally I do not read article on blogs, however I would like to say that this write-up very compelled me to check out and do so! Your writing taste has been amazed me. Thanks, very great article.|

  36. Anh Manriquez 1 month ago

    Hi! Do you know if they make any plugins to protect against hackers? I’m kinda paranoid about losing everything I’ve worked hard on. Any suggestions?|

  37. Emory Picken 1 month ago

    What’s up mates, fastidious piece of writing and nice arguments commented here, I am in fact enjoying by these.|

  38. Jon Mccannon 1 month ago

    Hello there! This is kind of off topic but I need some guidance from an established blog. Is it very difficult to set up your own blog? I’m not very techincal but I can figure things out pretty quick. I’m thinking about setting up my own but I’m not sure where to start. Do you have any ideas or suggestions? With thanks|

  39. Dwain Kida 1 month ago

    It is not my first time to visit this site, i am visiting this website dailly and get pleasant facts from here all the time.|

  40. Elias Condello 1 month ago

    Thanks for sharing your thoughts on meta_keyword. Regards|

  41. Tyron Andringa 1 month ago

    whoah this weblog is excellent i really like reading your articles. Stay up the great work! You know, a lot of individuals are searching round for this information, you can help them greatly. |

  42. Bertram Chevas 1 month ago

    Hi there! Do you use Twitter? I’d like to follow you if that would be ok. I’m absolutely enjoying your blog and look forward to new posts.|

  43. Jarvis Brakebill 1 month ago

    Your means of telling everything in this article is truly fastidious, all be able to simply be aware of it, Thanks a lot.|

  44. Gemma Dirth 1 month ago

    Every weekend i used to visit this web site, because i wish for enjoyment, for the reason that this this website conations truly good funny stuff too.|

  45. Justin Peakes 1 month ago

    Hi it’s me, I am also visiting this web site daily, this web page is truly pleasant and the people are in fact sharing nice thoughts.|

  46. Tamica Ahlbrecht 1 month ago

    It’s genuinely very difficult in this busy life to listen news on Television, therefore I only use web for that reason, and obtain the hottest information.|

  47. Hannelore Farlin 4 weeks ago

    I do not even know how I ended up here, but I thought this post was good. I do not know who you are but definitely you are going to a famous blogger if you are not already 😉 Cheers!|

  48. Nancie Patronella 4 weeks ago

    Very great post. I simply stumbled upon your blog and wished to say that I’ve really enjoyed browsing your weblog posts. In any case I’ll be subscribing in your rss feed and I’m hoping you write once more very soon!|

  49. Brett Siebeneck 4 weeks ago

    Hey there! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thanks for sharing!|

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

FINWAZE makes no representations or warranties, express or implied, in relation to this website (www.finwaze.com) or the information and materials provided on this website. It does not also warrants that this website will be constantly available or available at all times. The information on this website is complete, true, accurate or non-misleading. Nothing on this website constitutes, or is meant to constitute, advice of any kind. FINWAZE shall not be liable for any damage or injury, whether direct or indirect, that it may cause in relation to the contents of, or use of, or otherwise in connection with this website. By using this website, you agree to the reasonableness of the limitations of liabilities herein set out and further agree to assume whatever risk, loss, damage or injury in may cause in connection to the use of this website. No claims shall be brought personally against the officers and employees of FINWAZE, in connection with the use of this website. The user of this website agree to the limitations of warranties and liabilities herein set out to protect the officers, employees, agents, subsidiaries, successors, assigns and sub-contractors as well as FINWAZE. Any unenforceable provisions that may be found on this website under applicable law shall not affect the enforceability of the other provisions.

Legal Documents  |  ©2022 Finwaze Philippines

Pin It on Pinterest

Share This

Log in with your credentials

Forgot your details?