A complete timeline of Bitcoin events since 2008!
All the cryptocurrency enthusiasts join in the celebration of Bitcoin Pizza Day as it used to be a good idea to buy pizza with Bitcoin. Laszlo Hanyecz from Florida made the initial commercial purchase with this virtual currency.
Bought two big pizzas paying 10,000 bitcoins at 22second abbreviation In May 2010. In just one decade, Bitcoin has gained millions of user bases. Like this app, you can learn more about bitcoin. Bitcoin Exceeded Its Price Limit Over 10y In November 2021 by touching $68,000. Below is a complete timeline of Bitcoin’s events since its release.
With Nick Szabo conceptualizing the first cryptocurrency model, Satoshi Nakamoto created an almost similar model in 2008. The so-called developer of this cryptocurrency is unknown, and no one even knows whether Satoshi Nakamoto is male or female. However, in 2008, Satoshi Nakamoto wrote the white paper for this virtual currency and published it on bitcoin.org. The title of the Bitcoin whitepaper is Bitcoin, an electronic cash system.
The creator of Bitcoin also released the concept of blockchain and cryptocurrency mining. The first batch of 50 bitcoins was newly released into circulation in 2009. Satoshi Nakamoto also transferred a few BTCs to the Proof of Work generator.
Currently, deep cryptocurrencies such as BTC and Ether use the technology, while a few of these coins also use Proof of Stake. According to reports, proof of stake is more environmentally friendly. After receiving some BTC from Satoshi Nakamoto, Hal Finney publicly announced the existence of BTC on his Twitter account.
In 2010, Bitcoin was listed on the global market with a market capitalization of $0.0008. At one point in time, Bitcoin reached $0.80. Cryptocurrency enthusiasts became aware of the use case of BTC as a monetary system in 2010 as Lazlo made the first ever retail purchase with this virtual currency. He Bought Two Big Pizzas, That’s Why People Celebrate Bitcoin Pizza Day on the 22ndsecond abbreviation May 2021.
In 2011, the first alternative currency, the light currency, appeared. Charles Lee, the developer of the Bitcoin Lite version, has linked the value of LTC to BTC. Despite being an identical model of BTC with good processing speed, Litecoin is worth much less than BTC. Similar to BTC, the supply of litecoin is also limited. The maximum supply of BTC is closed at 21 million BTC while the maximum supply of LTC is limited to 83 million LTC. On the other hand, the speed of executing transactions using the Litecoin network is very high.
Bitcoin became so popular in 2012 that it appeared as a payment method on many online gambling sites, and a cryptocurrency exchange teamed up with a popular sports broadcasting channel. Bitcoin is trading with a market capitalization of $250 at this time. A term coined individually as Satoshi and uBTC in 2012. Satoshi is the 100 millionth part of BTC and is usually the currency of bitcoin faucets and money making sites.
Retail investors are starting to enter the cryptocurrency market, and Bitcoin for the first time touched the $1,000 mark. At one point in time, bitcoin was trading at $1,164. Mainstream cryptocurrencies were hitting the surface, but some experts predicted a sharp decline in 2014.
People were enjoying the amazing profits they made with bitcoin, but then came the first ever cryptocurrency crash. The value of one BTC fell to $560 after the crash. In short, Bitcoin has fallen by almost half the amount. As a result, there was a very panicked sale in the market.
The fall of Bitcoin continued in 2015 and the value of this virtual currency reached $315. However, after reaching this mark, Bitcoin started to recover a bit.
When retail investors started losing interest in bitcoin, it started to rally. In just one year, Bitcoin has seen a growth of almost 121%. By the end of 2015, the bitcoin price was at a point of $433; By 2016, BTC was at $959, very close to the $1,000 mark.
In 2017, Bitcoin halted all its previous records by touching a significant $20,000 mark. But in 2018, the market collapsed again, and the coin was only worth $3,000. Later in 2019, BTC bounced back and was trading at $10,000. Finally, at the beginning of 2021, Bitcoin was trading at $30,000, and by the end of 2021, it had reached $68,000.
The above is a timeline of bitcoin events.