Today, only lazy does not speak about this cryptocurrency. Its popularity is determined by many advantages: stability, security, comfort, instant translation. Who came up with the idea to develop this type of electronic money and when it arose will be discussed in this article.
Start. The 2008 year
On the last autumn October day of 2008, a document appeared on the parent site of this cryptocurrency on the foundation of the Bitcoin system. The creator, or a group of developers, called themselves Satoshi Nakamoto. This person (or group of people) sent a special notice to subscribers stating that the programmer was working on creating a unique money cryptosystem. Its main advantages were independence from world governments, the provision of the possibility of completely anonymous use, as well as protection from fraudulent exposure.
It should be noted that this idea is not new: a decade before it was voiced by writer and scientist Nick Szabo, as well as Nick Stevenson, creator of the bestselling book Cryptonomicon.
First users. the year 2009
At first, like all other innovations, bitcoins diverged very difficultly. Firstly, there was a certain degree of mistrust in the new currency, and secondly, participants in the system could only produce Internet money on their own PCs and exchange directly, without involving intermediary exchanges. At the end of the year, the BTC rate darted from a value of 800 to 1,500 units for one US dollar. At the same time, it was calculated very interestingly: the amount of electricity used by the computer is multiplied by the price of kW / h, and then divided by the amount of bitcoin.
First transaction. The 2010 year
The good news for all participants of this financial system came in hot May 2010. Laszlo, one of the users of the Bitcointalk resource, left a message saying that he was ready to buy two pizzas for 10,000 bitcoins. At the same time, he indicated that he was ready to give cryptocurrency to everyone who brought him the pizza in the required quantity.
The result of this step exceeded even the wildest expectations of Laszlo – in August of that year, 10,000 bitcoins were worth 600 “evergreens”. Then the user admitted that he did not expect such a stir and withdrew his proposal.
Spring 2011 The emergence of the first exchange
Such results prompted developers to realize that it is necessary to officially introduce this currency in exchange, that is, to create a special exchange mechanism. Jed McCaleb launched the MtGox project, which allows you to quickly change bitcoins to various types of real currency and in the opposite direction. Since then, this resource has remained one of the largest venues for conducting transactions, exchanging cryptocurrencies, assessing exchange differences and analyzing other changes.
It is noteworthy that at the very beginning of BTC were inexpensive: only 5-6 cents. However, in November of that year, their rate reached a half-dollar mark. Then the volume of the bitcoin market was estimated at a million dollars. A month before the onset of 2011, another remarkable event occurred – the first transaction using a mobile phone was completed.
Bitcoin is rapidly gaining popularity. A user from Australia with the nickname Bitcointalk first put up for sale a car for cryptocurrency. The transaction did not take place, but the very fact that the proposal arose speaks of increased consumer confidence.
Mid 2011. First problems
At a time when this type of electronic money was still in its infancy, neither hackers nor experienced stockbrokers paid attention to it. With the growing popularity of the system, “adult” problems appeared. Firstly, the currency is in no way financially secured, which led to sharp jumps in its value. Secondly, scammers hacked the account of one of the MtGox administrators and “stole” information from the accounts of tens of thousands of users. In 2012, crypto money had to regain its popularity, and consumers again turned their eyes on bitcoin: the first conferences began to be held on the nuances of operating with the new system.
The year 2013. Fall and take off
Only by the end of February 2013, the new currency managed to reach a record price of $ 31. A month later, it was already trading at a hundred dollars per unit, and another 10 days later at 266. The media sounded an unprecedented jump in the value of cryptocurrency: the more or less well-known news agency constantly indicated this. However, after a few days, one bitcoin was worth 65 “evergreens”, which symbolized a sharp rollback.
Analysts prophesied a long revival, but help came from where they had not expected it at all. Many magazines and TV channels started talking about how BTC is a currency for criminals: it was assumed that anonymous online communities collect them to pay for the murders of famous politicians. This raised the rate to $ 1,200.
By the end of 2013, power structures started talking about Internet money for the first time, and in a completely different way. So, the Chinese authorities have recommended not to use innovation in their work, and German Gref, the former Minister of Economic Development and Trade of the Russian Federation, expressed information about the possibility of issuing his own national cryptocurrency.