Bitcoin’s History And Events Timeline

Bitcoin could be the most exciting technological innovation to not just the U.S. Monetary system, but the global financial regime, since the Credit Card.

Let’s explore where Bitcoin has made History.

bitcoin-1January 12th, 2009 : First ever Bitcoin transaction completes: Satoshi Nakamoto proves the concept with a transmit of 10 BTC to crypto-activist Hal Finney.

October 5th, 2009 : Initial rate of exchange was established : a single United States dollar is worth 1,392.33 BTC, according to the New Liberty Standard.

November 6, 2010 : Bitcoin economy surpasses $1 million- the worth of a Bitcoin reaches $0.50 on Mt. Gox.

June 1st, 2011 : Gizmodo uncovers the actual Silk Highway : Adrien Chen reveals that it is possible to purchase illegal drugs on the internet making use of Bitcoins anonymous nature. Although organization places Bitcoin inside a damaging light, the particular following press consideration helps drive the worth regarding Bitcoins to over $30.

June 8th, 2011 : Initial bubble springs: The particular whirlwind journey is currently official. Bitcoin rates smash after achieving a higher value of $31.91. By November, they were valued around $2 respectively.

September 27th,the year 2012 : The non-profit Bitcoin Foundation becomes official, with it’s main goal to push Bitcoin into the main stream via standardizing this dynamic tech.

January 31st, 2013 : The first ASICs are shipped to eager techies: These specially designed chips for “Bitcoin mining”, data mining the Bitcoin Hash, when successful gives the fortunate owner 25 bitcoins. A so-called “Mining rig” sells for an eye-opening $20,000 on Ebay.

March 12th, 2013 : The block chain splits off into two ecosystems: A failed computer software puts a gremlin into the system, stopping it in it’s tracks. Then comes back online!

March 18th, 2013 : FinCEN produces new electronic currency guidance– Regulators acknowledge Bitcoin’s increasing significance by releasing their best practices digital currencies.

March 19th, 2013 : The E.U. seizes Cyprus’ Banking Deposits. This violation of private property rights provides to many an illustration for decentralized storage of value, creating a surge in Bitcoin’s price.

March 28th, 2013 : Bitcoin breaks the $1 billion market cap: The purchase price escalates to the degree that the biggest question is “Bubble or no bubble?”

April 10th, 2013 : Bears win, second bubble pops: A hack attack on Mt. Gox spoils the party of a $266 per BTC high, as exchange times increase, confidence waned and took a toll.

May 7th, 2013 : Silicon Valley jumps into the Bitcoin market: Coin base raises $5 million through Union Square Ventures.

May 14th, 2013 : Feds grab Bitcoin money: A supervisory very first affect. The Department of Fatherland Security probes Mt. Gox, then the biggest exchange simply by volume in the world for unlawfully working being a money vector without the correct required permits. Regulators catch cash and turn off a key source of all US money.

May 17th, 2013 : First recognized Bitcoin conference in San Jose: Bitcoin grows up and parties with unique guests, the Winklevoss twins.

October 2nd, 2013 : Feds turn off the actual Manmade fibre Street: Regulators seize over 170,000 BTC as well as kept 29-years old Ross Ulbricht in custody, known on the dim internet as Dead Pirate Roberts, together with drug trafficking conspiracy, personal computer-related fraudulence, and conspiracy to be able to wash funds.

October 15th, 2013 : China got Bitcoin a fever: Coincidental using an influx regarding pro-Bitcoin media coming from state-sponsored media, Baidu, China’s Google states that it will accept Bitcoin. Together with obtaining a boost from the all of US Federal government closedown, bitcoin rates began to rise.

November 11th, 2013 : Researchers declare Bitcoin is “busted”: Cornell scientists produced a 17 page report outlining a supposed downside inside the method.

November 19th, 2013 : Initial Congressional trial upon Bitcoin: It’s amazingly good.

November 21st, 2013 : Initial College allows Bitcoin: Cyprus School will become the first college in the world to simply accept Bitcoin by way of schooling.

November 27th, 2013 : Bitcoin blows past $1000 per BTC, Market cap worth above $10 billion. In coming days, 1 BTC reaches same value as an ounce of gold.

December 12th, 2013 : Coinbase raises another $25 million from Andreessen Horowitz

December 18th, 2013 : Third bubble burst: China breaks down on Bitcoin. Fundamentally turning out of the United States mailing rates crumbling to a low regarding practically $300 right after achieving a higher that could reach over $1,200. Subsequently, Dogecoin was launched, the initial crypto currency according to an online meme.

December 20th, 2013 : Governments can ignore Bitcoin no longer : Norway says Bitcoin does not “qualify as real money”.

January 3rd, 2013 : Overstock.com announces it will accept Bitcoin. San Francisco-based hedge fund, Glocap, hires a Bitcoin execution trader, in yet another sign of Wall Street coming around to cryptocurrencies. Bitcoin climbs to over $800 per BTC.

Do you have a correction or valuable addition to the timeline? Context matters!   Click here and help this timeline’s curator get the history right!

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Written by Curator 1

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