Bitcoin later made headlines because the price of one unit of cryptocurrency have already exceeded the $20,500 for the first time.
Though often called new, Bitcoin has existed since the year 2009 and the building of technology has roots even further. Even if you had invested $1,000 in the Bitcoin on the year was first available to the public, you will now be richer with the equivalent of £36.7 million.
Those who don't learn from history are destined to repeat his mistakes – so here is a brief history of the Bitcoin and cryptocurrency.
1998 – 2009 year of pre-Bitcoin
Although the Bitcoin is cryptocurrency first founded, there were previous efforts to create online currency with a great book that is guaranteed by the encryption. Two examples of this is the B-Money and a Bit of Gold, which is formulated but never fully developed.
2008 – Mr mysterious Nakamoto
A paper called Electronic Cash System – Bitcoin Peer to Peer discussion has been posted to the mailing lists on Cryptography. It was posted by someone who called themselves Satoshi Nakamoto, whose original identity is still a mystery to this day.
2009 – Bitcoin begins
Bitcoin software made available to the public for the first time and mining – a process in which a new transaction is created and Bitcoin recorded and verified on blockchain – began.
2010 – Bitcoin is appreciated for the first time
Having never traded, mined only, it is not possible to assign a monetary value to the currency unit in crypto that appears. In 2010, someone decided to sell it for the first time – 10,000 of them exchanged for two pizzas. If the buyer has switched to the Bitcoin, with prices today, they would be worth more than $100 million.
2011 – cryptocurrency Rival appears
With the increasing popularity of the Bitcoin and the idea of a currency that is decentralized and encrypted, cryptocurrency the first alternative appears. This is sometimes known as the altcoin and generally trying to improve the design of the original with Bitcoin offers greater speed, anonymity or some other advantage. Among the first to emerge was Namecoin and Litecoin. There are currently more than 1,000 cryptocurrency are circulating with new often appears.
2013 – price Bitcoin crashes.
Shortly after the price of a Bitcoin reach $1,000 for the first time, prices quickly began to decline. Many people who invest the money at this point would suffer losses because of the price plummeted to about $300 – it will be more than two years before reaching the $1,000 again.
2014 – fraud and theft
Perhaps not surprisingly for a currency that is designed with the anonymity and lack of control in mind, Bitcoin has proven to be an attractive and profitable target for criminals. In January 2014, the Exchange, the world's largest Bitcoin Mt. Gox being offline, and owner of 850.000 Bitcoin never saw them again. Investigations are still trying to figure out what happened, but whatever the story, someone with no honest getting results her catch which at the time was worth $450 million dollars. At today's price, the missing coin was worth $4.4 billion.
2016 – Ethereum and ICO.
One cryptocurrency almost stole the Thunder Bitcoin this year, as enthusiasm grew up around the platform Ethereum. This platform using the cryptocurrency known as the Aether to facilitate application and contract-based smart-blockchain. The arrival of the Ethereum marked by Initial Coin Offerings (ICOs).
This is a fundraising platform that offers investors the opportunity to trade what is basically a stock or shares in a business startup, in the same way that they can invest and trade the currency of crypto.
In the U.S., the SEC warned investors that because of lack of supervision, ICO can easily become a fraud or a ponzi scheme disguised as a legitimate investment. The Chinese Government stepped up even further, by banning them outright.
2017 – Bitcoin reached $10,000 and counting
The gradual increase in places where Bitcoin can spend contributing to the continual growth in popularity, during the period in which the value remains below the previous peak. Gradually as more and more use of emerge, it became clear that more money flows into the ecosystem of Bitcoin and cryptocoin. During this period, the market capitalisation of all cryptocoins up from $11bn to the current height of more than $300bn. Banks including Barclays, Citi Bank, Deutsche Bank and BNP Paribas have said they are investigating how they might be able to work with Bitcoin. While the technology behind the Bitcoin – blockchain – has sparked a revolution in the fintech industry (and so on) that are just getting started.
2018 – Bitcoin is famous Everywhere
This year's been a very lively bitcoin is used in the world, and nearly every stock traded and became the main choice of coin. Not only that bitcoin is also one of the triggers rise in the price of other altcoin. Many estimate the bitcoin will reach $50,000 if it is true then that has a lot of stock will enjoy the results of this.