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1/ #DogecoinDay!
To mark the occasion (good excuse as any?), thought I would do a thread on the early history of Bitcoin $BTC, a subject I used to write a lot about...
A thread on ...
Everything you want to know about the history of bitcoin! It's interesting, I promise!
To mark the occasion (good excuse as any?), thought I would do a thread on the early history of Bitcoin $BTC, a subject I used to write a lot about...
A thread on ...
Everything you want to know about the history of bitcoin! It's interesting, I promise!
2/ In 2008, as the financial world was crumbling, http://bitcoin.org was registered and a person/group using pseudonym Satoshi Nakamoto published a white paper, Bitcoin: A Peer-to-Peer Electronic Cash System, to a cryptography mailing list on bitcoin and how it would work.
3/ In early '09, Nakamoto mined the first bitcoin, known as the genesis block. Embedded in the programming of this first bitcoin was the text "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," referring to a headline from The Times on that date.
4/ Satoshi Nakamoto's identity remains a mystery. Several theories, but none conclusive IMHO. Only hints Nakamoto gave were claims he lived in Japan and born on 4/5/75. Has not been seen/heard from since 2011 after asking others for assistance w/ $BTC. https://www.investopedia.com/tech/three-people-who-were-supposedly-bitcoin-founder-satoshi-nakamoto/
5/ May 2010, first $BTC transaction.
Laszlo Hanyecz, FL programmer, exchanged 10K Bitcoins for 2 delivered pizzas.
May 22nd is celebrated in the bitcoin community as Bitcoin Pizza Day. https://www.businessinsider.com/bitcoin-surge-means-laszlo-hanyecz-paid-316-million-two-pizzas-2021-3
Laszlo Hanyecz, FL programmer, exchanged 10K Bitcoins for 2 delivered pizzas.
May 22nd is celebrated in the bitcoin community as Bitcoin Pizza Day. https://www.businessinsider.com/bitcoin-surge-means-laszlo-hanyecz-paid-316-million-two-pizzas-2021-3
6/ In 2011, an online dark web marketplace dubbed Silk Road was founded by Ross Ulbricht, under the pseudonym Dread Pirate Roberts (DPR). The use of Tor routers, so users could browse in anonymity, and untraceable $BTC payments was a potent combination to avoid detection.
7/ DPR claimed the site was founded with libertarian ideals. He wanted the site "to grow into a force to be reckoned with that can challenge the powers that be and at last give people the option to choose freedom over tyranny." https://arstechnica.com/tech-policy/2013/10/how-the-feds-took-down-the-dread-pirate-roberts/
8/ This meant illegal drugs lol! In Oct 2014, ~14K listings of cannabis, heroin, LSD, MDMA, and meth.
Before Ulbricht was arrested, the site had >1M users who made 1.2M transactions for 9.5M $BTC. https://en.wikipedia.org/wiki/Silk_Road_(marketplace)#Products
Before Ulbricht was arrested, the site had >1M users who made 1.2M transactions for 9.5M $BTC. https://en.wikipedia.org/wiki/Silk_Road_(marketplace)#Products
9/ March 2013, value of all $BTC hit $1B! This attracted big investors.
After winning their infamous lawsuit against Zuckerberg, Winklevoss twins collected $65M winnings in $FB shares. When FB went public, the pair sold their shares and invested in $BTC. https://www.nytimes.com/2017/12/19/technology/bitcoin-winklevoss-twins.html?_r=0
After winning their infamous lawsuit against Zuckerberg, Winklevoss twins collected $65M winnings in $FB shares. When FB went public, the pair sold their shares and invested in $BTC. https://www.nytimes.com/2017/12/19/technology/bitcoin-winklevoss-twins.html?_r=0
10/ Mt. Gox was a site launched by programmer Jeb McCaleb for fans of the Magic fantasy card game.
Was neglected until 2010 when site became an online exchange to buy/sell Bitcoin.
In 2011, McCaleb sold it to Mark Kepeles, a French developer in Japan. Then the problems began...
Was neglected until 2010 when site became an online exchange to buy/sell Bitcoin.
In 2011, McCaleb sold it to Mark Kepeles, a French developer in Japan. Then the problems began...
11/ After Mt. Gox filed, it claimed to have lost >750K of its account holders' $BTC and 100K of its own, ~7% of all Bitcoins then in circulation, causing the price to drop 36%!
At peak, exchange was facilitating ~70% of all Bitcoin trading. https://en.wikipedia.org/wiki/Mt._Gox
At peak, exchange was facilitating ~70% of all Bitcoin trading. https://en.wikipedia.org/wiki/Mt._Gox
