Yes, Bitcoin has just celebrated its 11th birthday in January 2020. After 10 years, it is another Bitcoin anniversary that we can celebrate.
A certain group of people or a single person named Satoshi Nakamoto invented the first decentralized currency. It is the first time that we ever dare to think about being able to change money without even going through banks. Eleven later, it still seems revolutionary.
The road has been long and winding, but it becomes easier for Bitcoin to be accepted in our daily lives.
Let’s go back for the 11 year bitcoin on the big data of the first cryptocurrency.
The short history of Bitcoin
Popular history says that Bitcoin was not only born during the financial crisis, but also that it was the result of the 2008 crisis.
While large banks have seen massive rescue operations that save them from widespread bankruptcy, people have become increasingly suspicious about large banks and government-run financial systems. They went looking for an alternative with which they could control their own money. They tried to find a way to no longer depend on central banks, which turned out to be risky and failing.
Satoshi Nakamoto therefore provided this alternative, with a digital currency that would circumvent governments, cross borders and be accepted internationally. It is the ideal standard for our time, because it is not necessary to convert bitcoin and have no bank or other bank to trade it.
While 11 years ago, Bitcoin was just a white paper – an idea, a concept – since then it has become a currency and an asset with a market capitalization of more than $ 167 billion and volumes of 24-hour trading continues. How did we get to where we are today?
Here are some of the most striking facts about Bitcoin:
August 18, 2008: The domain name Bitcoin.org has been registered.
October 31, 2008: Satoshi Nakamoto publishes his white paper ‘Bitcoin: A Peer to Peer Electronic Cash System’ on a cryptographic mailing list. You can still consult it today here.
January 3, 2009: Satoshi Nakamoto manages the first Bitcoin block with a reward of 50 Bitcoins. Although he disappeared in 2011 and his true identity remains a mystery, he would have mined 1 million Bitcoin. If this hiding place was cashed in, it would cost $ 10 billion today.
May 22, 2010: Bitcoin is used to purchase goods for the first time when Laszlo Hanyeczs pays 10,000 Bitcoin in exchange for sending two daddy Johns pizzas. Bitcoin is officially a currency, although it is valued at around $ 0.0041.
February 2011: the Bitcoin price reaches $ 1.00.
October 2012: Bitcoin payment processor BitPay reports that more than 1,000 suppliers and merchants now accept Bitcoin as a payment method.
November 28, 2013: Bitcoin breaks the $ 1,000 for the first time.
2014: Following Bitcoin’s rapid price gains, more sellers and individuals are starting to accept Bitcoin for payment, including major online retailers such as Overstock.com and Newegg.
February 2015: the number of sellers that now accept Bitcoin if payment exceeds 100,000.
November 28, 2017: At the end of an astronomical year, Bitcoin’s price reached $ 10,000 for the first time. A little over two weeks later it would double and reach $ 20,000 shortly before it would fall again. Many of us are waiting for another flight.
April 2019: since the price of Bitcoin falls after its impressive peak, and just a year later, the Bitcoin winter prices would be in the range of $ 3,000, in April 2019 the price began to recover and in June 2019, it even peaked at $ 13,000 .
Fall 2019: With a few small bumps en route, Bitcoin sees some of its most stable prices, with the BTC price fluctuating around $ 10,000 for a few months.
October 31, 2019: on the occasion of the 11th anniversary of Bitcoin, the BTC price is slightly higher than $ 9,000. An increase of more than 200,000,000% of its original price.
Today, in January 2020, 11 years after its “birth”, the price of bitcoin is around $ 7,000.
With the halving that will take place in May 2020, everyone expects an even higher price.
Finally happy 11th birthday, Bitcoin.
We cannot be more proud of what you have achieved so far.