Bitcoin history

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Bitcoin is a decentralized cryptocurrency created in 2008 by the pseudonymous Satoshi Nakamoto.This account of bitcoin history resumes the first ten-years (2008 – 2017 inclusive) of the cryptocurrency.

2008

  • August 18th The domain name bitcoin.org is registered.
  • October 31st Satoshi Nakamoto publishes Bitcoin: A Peer-to-Peer Electronic Cash System, the document that officially introduced the design and reference implementation of blockchain technology and bitcoin.
  • November 9th The Bitcoin project is registered at the open-source-projects community resource, SourceForge.net.

2009

  • January 3rd The genesis block – the first block in the bitcoin blockchain – appears. 50 BTC are generated at 18:15:05 (GMT).
  • January 9th The first version, Bitcoin v0.1., is issued.
  • January 12th First bitcoin transaction, (block #170). Sender is Satoshi Nakamoto. Receiver is Hal Finney.
  • October 5th The first Bitcoin course towards exchange dollar is published: 1 USD | 1,309.03 BTC. A public sale is launched on New Liberty Standard stock exchange.
  • October 9th The #bitcoin-de channel is registered on IRC.
  • December 16th Bitcoin v0.2. appears.

2010

  • February 6th Bitcoin Market, the first official cryptocurrency stock exchange, is launched.
  • May 22nd First online purchase using bitcoin. Laszlo Hanyecz (indireclty) buys Papa John’s pizza for 10,000 coins (25 USD).
  • July 11th Bitcoin v0.3. is mentioned on news website Slashdot.org. The number of bitcoin users increases significantly.
  • July 12th Bitcoin exchange rate increases 10 times in ten days, from 0.008 USD per BTC to 0.08 USD per BTC.
  • July 17th MtGox Cryptocurrency exchange is launched.
  • August 15th A bug in bitcoin code results in a “dirty” transaction in block # 74638. Users easily find the mistake, correct the code and “clean” the block.
  • September 14th User jgarzik offers user puddingpop 10,000 coins (600-650 USD) to open their common customer CUDA in Windows base. The first block with assigned distribution, block # 79764, is mined.
  • September 18th User puddingpop announces opening of the CUDA customer on Windows base under the MITd license.
  • September 29th User kermit finds invasion in micro transaction, after version v0.3.13 is launched.
  • October 1st First public miner, Open CL, is created.
  • Octiber 7th Bitcoin exchange rate begins to escalate, after several months stuck at USD$0.06 per BTC.
  • October 16th First Bitcoin deposit is registered: a deal between users nanotube and Diabo-3, with user theymos as .
  • October 17th #bitcoin-otc trade channel appears on IRC freenode.
  • October 28th First short trade transaction: 100 coins between users nanotube and kiba on #bitcoin-otc.
  • November 6th Bitcoin share capital reaches 1 million USD. Its exchange rate on MtGox reaches USD$0.50 per BTC.
  • December 7th User doublec creates a Bitcoin app for the Nokia N900. User ribuck sends 0.42 BTC in the first ever P2P transaction with the help of mobile device.
  • December 9th First open call-agreement contract signed between users nanotube and sgornick on #bitcoin-otc.
  • December 16th First block generated by mining pool under user sluch.

2011

  • January 8th Pooled mining reaches a capacity of 10 Ghash per second.
  • January 27th Biggest monetary transaction in bitcoin history from 3 accounts in Zimbabwe on #bitcoin-otc. The currency rate was 4 BTC to 100 trillion Zimbabwe dollars.
  • January 28th Block #105000 is generated – at that point, 5.24 million bitcoins had been issued, 25% of the total 21 million.
  • February 9th Bitcoin reaches parity with the US dollar (the exchange rate was one BTC to the USD).
  • February 10th After bitcoin is mentioned on Slashdot and Hacker News, Bitcoin.org struggles with surge of new users, many coming from Twitter.
  • February 14th An Austrian user puts an old Porsche on sale on a bitcoin exchange for 3000 BTC.
  • March 1st User MagicalTux buys the exchange Mtgox.com from founder Jed MacCaleb.
  • March 6th Sudden change in the Bitcoin network: connection speed spikes to 900 Ghash per second and decreases to 500 Ghash per second within a short period of time. There are rumors that it was caused by a supercomputer or network bot, dubbed the “mysterious miner”, connecting to the network.
  • March 18th low Bitcoin rate comparing to dollar achieved 70 cent per 1 USD. Before it there has been a current increase of the rate (it is possible that it has been made artificially), then there has been a current decrease.
  • March 22nd WeUseCoins published the video What Is Bitcoin? and it goes viral with over 8 million views.
  • March 27th First stock to exchange BTC for GBP opens.
  • March 31st First stock to exchange BTC for BRL opens.
  • April 5th BitMarket.eu, first stock to exchange BTC for PLN, opens
  • April 12th Fisrt Bitcoin option agreement is signed, on #bitcoin-otc.
  • April 16th– TIME magazine publishes an article about crypto currency.
  • April 23rd BTC/USD rate reaches and surpasses the USD/euro rate and the USD/pound rate on MtGox stock exchange. The general capitalization of bitcoins is 10 million USD.
  • April 27th VirWoX opens first exchange from BTC/SLL.
  • June 2nd USD to BTC rate is 10 USD to the coin. For 6 days, the rate is fixed at 31.91 USD to the Bitcoin on MtGox.
  • June 12th BTC to USD rate decrease to 10 USD.
  • June 13th The first bitcoin theft occurs. User allinvain reports 25 thousand coins (375 thousand USD).
  • June 19th MtGox’s database suffers a security breach. The names, password hashes and emails of 60 thousands users are stolen. An unknown hacker accesses a MtGox administration account, and sends hundreds of thousands of fake bitcoins, decreasing the value of the crypto currency from 17.5 USD per 1 coin to 1 cent per coin. Sales are resumed a week later. On the same day, thousands of coins are stolen from MyBitcoin accounts.
  • July 22nd BitCoins Mobile, the first mobile app for iPad, is launched.
  • August 20th First Bitcoin conference at the World Expo exhibition in New York City.
  • August 23rd First decentralized P2Pool mines its first block.
  • November 25th First crypto currency conference in Europe, takes place in Prague (Czechia).
  • December 12th The biggest amount of fees paid for a block up to date: 171 BTC for block # 157235.

2012

  • March 1st About 50000 BTC are stolen after a security upgrade in Linode; it is the biggest bitcoin theft ever.
  • June 3rd The biggest block in the chain, # 181919 is created. It includes 1,322 transactions.
  • September 15th-16th Bitcoin conference in London.
  • September 27th Bitcoin Foundation organization is created.
  • November 28th Block # 210,000 becomes the first block to yield a 25 BTC reward (all previous existing block rewards had been 50 BTC).
  • December 6th The France-based exchange Bitcoin-Central becomes the first exchange to operate within the framework of European regulations.

2013

  • February 19th The 8th version of Bitcoin Client appears.
  • February 28th Bitcoin exchange rate surpasses 31.91 USD for the first time for the last 601 days.
  • March 28th Bitcoin capitalization surpasses 1 billion USD.
  • April 1st Exchange rate reaches 100 USD to BTC.
  • May WebMoney announces creation of a new type of cash-box intended for operations with bitcoins.
  • August Bitcoin is recognized as a legal currency in Germany.
  • November BTC costs over 1000 USD after bitcoin is supported by American game creator Zynga. The University of Nicosia, in Cyprus, announces it will accept payment for tuition fees in bitcoin.
  • December 9th 100 USD are stolen from bitcoin wallets.
  • DecemberChina prohibits use of bitcoin in its national territory. BTC China, one of the world’s biggest stock exchanges, shuts down. Norway is the next country to forbid bitcoin.

2014

  • January Elliptic Vault, the first bitcoin safe storage, opens in London. Bitcoin begins to oust euro in Ireland. More companies agree to accept bitcoin a payment for services.
  • January 24th BTC China renews sales.
  • January 28th Vice-president of the Bitcoin Foundation arrested under money laundering charges. As a result of the ensuing panic, bitcoin exchange rate decreased by 40 USD.
  • February 1st American newspaper The Chicago Sun-Times accepts payment in bitcoin for subscriptions.
  • February 7th Mt.Gox stock exchange stops all withdrawal transactions because of suspicions of a mass attack.
  • February 10th-12th Problems with transactions in several big stock exchanges. Bitcoin rate decreased to USD$600 (a 30% decrease).
  • November 5th Buttercoin, a US venture-backed bitcoin exchange, is launched.

2015

  • January Coinbase exchange collects $75 million in a VC funding round, beating the previous record by the Bitcoin Company.
  • March The bitcoin startup 21 Inc announces the attraction of venture investments in the amount of USD$116 million.
  • August 160,000 traders participate in operations with bitcoin.
  • October Possibility to add a symbol for bitcoin in unicode is presented at Unicode Consortium.

2016

  • January Network speed exceeds 1 exahash/sec.
  • March The Cabinet of Japan acknowledges virtual currencies like Bitcoin as payment means on an equal basis with real money. The largest South African online cryptocurrency market, Bidorbuy, opens.
  • April The Steam Service starts accepting bitcoin as payment.
  • July In Argentina, Uber switches to bitcoin when the government blocks credit cards.
  • August Hackers attack Bitfinex, a large exchange, taking almost 120 000 bitcoins (about USD$60 million).
  • September Number of Bitcoin ATMs around the world amounts to 771.
  • November The Swiss railway operator SBB (CFF) adds a bitcoin payment function to their ticket vending machines.

2017

  • March Number of GitHub projects connected with bitcoin exceeds 10,000.
  • June 12th Bitcoin exchange rate exceeds USD$3000 to the BTC.
  • August 1st Bitcoin Cash appears.
  • September 1st Bitcoin exchange rate exceeds USD$5000.
  • Novermber 29th Bitcoin exchange rate exceeds USD$10,000.
  • December Cboe Global Markets begins offering bitcoin futures, allowing investors to speculate about bitcoin prices.