The Year Zero in the world of cryptocurrencies in 2008. It marks the birth of the world’s first crypto, Bitcoin. On the October 31, BTC celebrates its 10th birthday, and millions of people around the world surely have the reason to party.
In its 10 years of existence, Bitcoin has achieved tremendous success, becoming a household name in almost every corner of the planet. It seems more than appropriate to remind ourselves of the best moments in the decade-long history of bitcoin.
Milestones in the First BTC Decade
October 31, 2008 – The father of bitcoin, the person (or persons) going by the name of Satoshi Nakamoto publishes a paper describing how cryptocurrencies were supposed to work. It’s fair to say that this is the moment marks the beginning of bitcoin era.
January 12, 2009 – The first bitcoin transaction takes place when Satoshi Nakamoto sends 10 BTC to a computer programmer, Hal Finney.
2010 – Inaugural bitcoin sale starts in late 2010. One of the most famous bitcoin transactions happens in this period: developer Laszlo Hanyecz sells 10,000 BTC for two pizzas. If he hadn’t done it, he would now have been richer for nearly 65 million dollars.
2011 – The success of bitcoin prompts developers to start working on other cryptos. The year 2011 saw the emergence of several new cryptocurrencies, including Litecoin and Namecoin.
2013 – First bitcoin ATMs are starting to appear on the streets of Vancouver.
2014 – Bitcoin is getting more and more attention of the public, which makes politicians interested in it as well. The result is that some countries start to ban cryptos at this time, while others are creating legislation that regulate its use.
2015 – Ethereum is born, an advanced version of Nakamoto’s platform.
2016 – Big-name companies start accepting bitcoin as a legitimate currency. Uber leads the way.
2017 – Bitcoin craze begins. People from all around the world start investing money in BTC, which makes its value increase exponentially.
December 15, 2017 – Bitcoin reaches its highest value to this date. The price of 1BTC is $17,900.
Happy Birthday Dear Bitcoin..What the Future Holds?
Since the beginning of 2018, the price of bitcoin has dropped from nearly 18k to just over six thousand. But, even the current value is much, much higher than it was just two or three years ago. In fact, the price of 1BTC has increased more than 10 times from October 2016.
Although it’s a debate among industry experts whether bitcoin will ever reach its value from 15th December, however, there’s one thing most of them agree on – bitcoin will not go to history.
The future of bitcoin, as well as all the other cryptos, seems very bright. Sure, some changes might need to be made. But it’s not bitcoin that needs to adapt; it’s the banks. Banks will have to adapt to bitcoin and other cryptocurrencies, as otherwise, there won’t be any need for them anymore.
And the governments will also have to adapt. It seems that stopping bitcoin is a mission impossible for them. Banning cryptocurrencies is out of the question; the only thing they can do is create laws that regulate crypto market.
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