History of Bitcoin


18 August 2008

birth of bitcoin.org

The domain bitcoin.org is registered at anonymousspeech.com.

31 October 2008

white paper published

Satoshi Nakamoto publishes the white paper on a new electronic cash system that’s fully peer-to-peer with no trusted third party on the bitcoin.org website through a cryptography mailing list.

01 November 2008

white paper announced

Satoshi Nakamoto announces the release of his white paper on the bitcoin.org site.

09 November 2008

on SourceForge

The Bitcoin Protocol gets onto sourceforge.net where open source software are developed and distributed.

03 January 2009

the Genesis Block

Block 0, also known as the Genesis Block is mined and starts the first bitcoin into circulation.

03 January 2009

1 BTC = US$0

Bitcoin holds no value for the next over one year. Users were cryptography enthusiast who were transacting bitcoins amongst one another for fun. Exchanges and markets were still non-existent.

09 January 2009

version 0.1 released

Version 0.1 of the Bitcoin software is released, which includes a generation system that would create a finite total of 21 million bitcoins to be mined by the Year 2140.

12 January 2009

first bitcoin transaction

The first bitcoin transaction takes place between Satoshi Nakamoto and Hal Finney in Block 170.

05 October 2009

first exchange rate

A bitcoin value of 1 btc = US$0.00076392 established when New Liberty Standard published this exchange rate calculated by measuring the cost of electricity for a computer to generate bitcoins.

12 October 2009

#bitcoin-dev registered

The #bitcoin-dev channel is registered on freenode IRC, a discussion network for free and open source development communities.

16 December 2009

version 0.2 released

Version 0.2 of the Bitcoin software is released.

30 December 2009

first difficulty increase

The first difficulty increase on the blockchain takes place at 06:11:04 am GMT.

06 February 2010

birth of currency exchange

A bitcoin currency exchange is established by dwdollar.

30 March 2010

1 BTC = US$0 still

A user by the name of SmokeTooMuch auctions 10,000 btc with a starting bid of US$50 on the Bitcoin Forum as a little experiment. The auction runs for 7 days, with the condition that each bid is at least US$1 higher than the previous bid. Since no one started the bidding, user dwdollar offered US$20 as a starting bid, but in the end, no buyer was found. The original post on the forum may be found here.

22 May 2010

10,000 btc for 2 pizzas

The first real world application of bitcoin when 10,000 btc was offered by programmer Laszlo Hanyecz to a Bitcoin Talk forum user for 2 Papa John pizzas worth US$25, establishing the value of 1 btc = US$0.0025. Based on recent exchange rates, the 2 pizzas would be worth US$5.12 million in 2014, and US$10.5 million in 2017.

22 May 2010

1 BTC < US$0.01

10,000 btc accepted for 2 Papa John pizzas worth US$25 establishes the value of 1 btc = US$0.0025.

07 July 2010

version 0.3 released

Version 0.3 of the Bitcoin software is released.

11 July 2010

surge in Bitcoin users

Version 0.3 of the Bitcoin software mentioned on Slashdot, a news channel for nerds, leads to a surge in new Bitcoin users.

12 July 2010

1 BTC = US$0.08

The value of bitcoin increases tenfold from US$0.008/btc to US$0.080/btc over a 5-day period from 12 July 2010.

17 July 2010

MT. GOX is established

Jed McCaleb establishes MT. GOX – a bitcoin exchange – in Tokyo, Japan. Jed McCaleb used a domain name he had originally registered for an online card trading site for users of the Magic: The Gathering Online eXchange service. MT. GOX was handling 70% of all bitcoin transactions by 2013. In 2014, MT. GOX announced that around 850,000 bitcoins belonging to customers and the company were missing and likely stolen, an amount valued at more than $450 million at the time.


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