BITCOIN HISTORY -

Bitcoin is a cryptocurrency, a digital asset designed to function as an exchange site that uses cryptography to control its construction and management, rather than relying on central authorities. The history of Bitcoin began with the invention and was initiated by a theory that is thought to be the fabrication of Satoshi Nakamoto, which incorporates many existing ideas from the cypherpunk community. Throughout the history of bitcoin, it has grown rapidly to become an important currency both for both and offline. As of mid-2010, some businesses were beginning to adopt bitcoin over traditional currencies.

Background -

Prior to the release of bitcoin, there were many digital currency technologies that began with the ecash-issued rules of David Chaum and Stefan Brands' ecash. The idea was also independently developed by Adam Back who founded hashcash, a proven spam management program in 1997. The first proposals for the distribution of digital shortages based on cryptocurrensets are Wei Dai's money and Nick Szabo's gold. Hal Finney constructed proof of re-use (RPOW) using hashcash as proof of its algorithm.

Creation -

Later that year, on 31 October, a link to a paper written by Satoshi Nakamoto entitled Bitcoin: A Peer-to-Peer Electronic Cash System was sent to the address list for cryptography. This paper contains information on how to use a peer-to-peer network to do what has been described as a "electronic transaction system without reliance on trust". On January 3, 2009, the bitcoin network came into existence with Satoshi Nakamoto mining the genesis block bitcoin (block block 0), which had a reward of 50 bitcoins. Included in the coinbase of this block was text:

The Times Councilor Jan / 03/2009 is on the verge of rescuing banks for the second time.

This article refers to an article in The Times published on 3 January 2009. This note has been interpreted as a timeline of historical time and a humorous comment on the instability caused by the reserve bank: 18.

The first open source bitcoin client was released on January 9, 2009, hosted at SourceForge.

One of the first sponsors, recipients, contributors to bitcoin and recipient of the first bitcoin transaction was the author of the program Hal Finney. Finney downloaded bitcoin software on the day it was released, and received 10 bitcoins from Nakamoto in the world's first bitcoin transaction on January 12, 2009 (bloc 170). Other early supporters were Wei Dai, the bitcoin maker who preceded b-money, and Nick Szabo, the predecessor of bitcoin who bit gold.

In the early days, Nakamoto is estimated to have dug up 1 million bitcoins. Before disappearing from any involvement with bitcoin, Nakamoto somehow handed over the reins to engineer Gavin Andresen, who later became the leading engineer of the Bitcoin Foundation, something very close to the ‘anarchic’ bitcoin community in the legal community.

The value of the first bitcoin transaction was negotiated by the people at the bitcoin forum for one notable transaction of 10,000 BTC which was indirectly used to purchase two pizzas brought by Pope John's.

Growth -

2018

On 22 January 2018, South Korea introduced a regulation that required all bitcoin traders to disclose their identities, thus imposing a ban on anonymous bitcoins trading.

On 24 January 2018, online payment company Stripe announced that it would withdraw its funding for bitcoin payments by the end of April 2018, citing declining demand, rising costs and longer transaction times as reasons.

2019

As of September 2019, there were 5,457 ATMs worldwide. In August of that year, the countries with the highest number of bitcoin ATMs were the United States, Canada, the United Kingdom, Austria and Spain.

2020

On July 2, 2020, the Indian company 69 shares began quoting a set of bitcoin exchange (ETP) products from Xetra's Deutsche Boerse trading system.

On September 1, 2020, Wiener Börse unveiled its first 21 articles written on cryptocurrensets such as bitcoin, including real-time quote services and security settlements.

On September 3, 2020, the Frankfurt Stock Exchange hosted on its regulated Market a quotation for the first bitcoin trading (ETN) note, which was removed in the middle by Eurex Clearing.

In October 2020, PayPal announced that it would allow its users to buy and sell bitcoin on its platform, even though no bitcoins should be added or removed.

Prices and Value History -

Potential contributors to this growth are the European debt crisis  particularly the Cypriot financial crisis of 2012–2013 - FinCEN's statements that improve legal status, as well as the rise of media and the Internet.

Until 2013, almost all of the market with bitcoins was in US dollars (US $).

While the total stock market value of bitcoins is approaching US $ 1 billion, some analysts call bitcoin prices a bubble. In early April 2013, the price of bitcoin dropped from $ 266 to about $ 50 and then increased to about $ 100. Over two weeks from the end of June 2013 the price dropped sharply to $ 70. The price began to return , it rose again on October 1 for $ 140. On October 2, Silk Road was seized by the FBI. This take caused the flash crash to $ 110. The price quickly returned, returning to $ 200 a few weeks later. The latest run from $ 200 on November 3rd to $ 900 on November 18th. Bitcoin transferred US $ 1,000 on 28 November 2013 in Mt. Gox.