Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
No Result
View All Result

A Brief History of Bitcoin – And where it’s going next

by Elena Poughia
February 7, 2018
in Blockchain, FinTech, infographics
Home Tech Trends Blockchain
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on e-mail

The money in your pockets has three basic traits – it’s tangible, centrally regulated and easy to counterfeit. Bitcoin is the exact reversal of it. Bitcoin is a cryptocurrency that operates independently without banking institutions and the government meddling into its affairs. There’s nothing physical about it – it’s all virtual!

It’s non-tangible, but renders gains for real. It flows freely, without anyone/anything controlling and tracking its footprints. And everyday monetary influences, be it either inflation or deflation, don’t regulate it, as its value is totally determined by market demand.

More importantly, Bitcoin transactions are irreversible. Once initiated, there’s no way to retract. Bitcoin transactions bear no costs, and can be done with absolute anonymity. Gradually, it’s becoming as regular as other monetary values in the market. However, with no government backing, Bitcoin holds relevance as long as online merchants accept it.

The History of Bitcoin

Bitcoin is the brainchild of Satoshi Nakamoto, who published a white paper on the invention on October 31, 2008, namely “Bitcoin: A Peer-to-Peer Electronic Cash System”, describing what Bitcoin is. It was on January 2009 when Version 0.1 of Bitcoin was released. And, soon, Satoshi and Hal Finney, a cryptographic activist, transacted in bitcoins.

During October 2009, an exchange rate for the bitcoin was established, which was US$1 = 1,309.03 BTC. This rate was decided after framing up an equation as to how much is the cost of the electricity to run a computer, generating bitcoins.


Join the Partisia Blockchain Hackathon, design the future, gain new skills, and win!


Bitcoin’s Journey into the Financial Mainstream Has Already Begun

In terms of worth, Bitcoin’s come a long way from its early days. Who would have thought that from US$1 = 1,309.03 BTC in 2009, the worth of internet’s favorite currency would shoot past US$2,900 in June 2017? The History of Bitcoin is not an easy one, and the infographic below will help you get an understanding of where it all began.

Bitcoin – An Insight On The Past Events and The Times Ahead

Like this article? Subscribe to our weekly newsletter to never miss out!

Follow @DataconomyMedia

Tags: bitcoinBlockchainBTCHal FinneySatoshi Nakamoto

Related Posts

Exploring the most efficient blockchain technology

Exploring the most efficient blockchain technology

May 24, 2023
NFTs aren’t dying or dead, but stop talking about them, says Sander Gansen

NFTs aren’t dying or dead, but stop talking about them, says Sander Gansen

May 23, 2023
Beyond Bitcoin: The revolutionary benefits of blockchain technology

Beyond Bitcoin: The revolutionary benefits of blockchain technology

April 17, 2023
Where does your data go: Inside the world of blockchain storage

Where does your data go: Inside the world of blockchain storage

March 16, 2023
How to become a blockchain maestro?

How to become a blockchain maestro?

March 8, 2023
What is the best blockchain for smart contracts and why?

What is the best blockchain for smart contracts and why?

March 1, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST ARTICLES

Navigating the path to generative AI success across industries: A Grid Dynamics crawl-walk-run strategy

Boosting productivity and efficiency with workload automation

Claiming to be the most humane AI chatbot, Replika AI wants to be your empathetic pal

Meet Inflection AI Pi chatbot that earned acclaim from Bill Gates

Exploring the dynamic fusion of AI and the IoT

Photoshop AI generative fill: Check out Adobe’s latest AI feature

Dataconomy

COPYRIGHT © DATACONOMY MEDIA GMBH, ALL RIGHTS RESERVED.

  • About
  • Imprint
  • Contact
  • Legal & Privacy
  • Partnership
  • Writers wanted

Follow Us

  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
No Result
View All Result
Subscribe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy.
x
x