Bitcoin Brief History – How It All Began
By now the word of bitcoin has made it to an incredible amount of public knowledge with mainstream media coverage, conventions worldwide, and startups around the budding technology increasing every year. This is a far cry from full adoption, but considering that it all started on a mailing list to a select group of cryptography enthusiasts from a masked group or individual named Satoshi Nakamoto, it’s clear that bitcoin has exploded onto the scene. Over the past five years, bitcoin has survived threats from governments, hackers, heists, volatile value, version changes, skepticism, and critics.
The future of bitcoin promises to be just as exciting as the past as we recap some of the biggest moments in the brief yet captivating history of the cryptocurrency that continues to make waves.
Scroll down to see a visual compilation of Bitcoin:
Large venture capital investments continue to pour into the technology such as the $106 Million put into US-based company Coinbase alone in 2015. Look for bitcoin adoption and use cases to increase in the coming years as more local and big businesses start accepting payments in BTC, and for London based application LazyPay to help increase that adoption.
Bitcoin’s open-source code continues to be improved upon in the BIP (bitcoin improvement proposal) system, expanding upon the original core that Satoshi left with the community before bowing out of the development process. While the evolution of bitcoin is promising, the idea that it generated with the blockchain has also inspired other forms of proof of asset systems. Ethereum is a new project in the works based upon bitcoin’s idea of the blockchain that promises to decentralize more than money with DACs (decentralized autonomous corporations) and a scripting language that allows developers to create new applications that have not yet been thought of on top of the blockchain.
Stay tuned for more updates in the ever-exciting world of cryptocurrencies.