Bitcoin is currently the oldest cryptocurrency that started the era of digital currencies. Find out how long a leading cryptocurrency has existed.
How long has Bitcoin been around?
Certainly, many people interested in cryptocurrencies today first of all heard about the most popular Bitcoin. This digital currency was established in 2009 and was called the first cryptocurrency through which transactions worth 10,000 BTC were made. It may seem abstract that in 2010, you could buy only ... two pizzas for this value. So then, the first transaction to go down in history took place.
Moreover, Mt. Gox was mainly responsible in 2010 for numerous Bitcoin transactions which initially processed significant amounts of virtual money.
There was a dollar equivalent in 2011, so 1 BTC has historically been equal to 1 US dollar.
The date of October 31, 2008, where the Bitcoin manifesto: A Peer-to Peer Eletronic Cash System was published, can be considered the birth of Bitcoin. This manifest also describes the virtual coin transfer system. Two months later it was the basis for the birth of a block of the constructed system
How did it even start?
Consider that we were dealing with digital currency back in 1998, where Wei Dei, who created b-money. Its assumption was to ensure the privacy of the entire society by ensuring efficient cash and thus efficiency in the transactions performed. From the very beginning, the project assumed the decentralization of the system, as well as the recording of each transaction through a specific register. Interestingly, some believe that it was the first cryptocurrency in the world, but later it was obscured by a better constructed Bitcoin due to its lower security, this cryptocurrency did not achieve much success, as Bitcoin.
Satoshi Nakamoto - an outline of the creator
Analyzing how long Bitcoin exists, it is worth considering the description of its creator, Satoshi Nakamoto. It should be pointed out, however, that it is probably not the real name and surname, but only the pseudonym under which the creator is hiding. Therefore, it is not certain whether this project was created by a group of organized people or whether it was a single entity.
The first transaction only about 10 years ago contributed to significant progress in this area. Today, all technology tries to rely on virtual money, and having such a transaction option is desirable not only by individuals, but also by enterprises and small start-ups. This may be due to, inter alia, about the importance of virtual currencies, which today are a certain determinant of modernity. Bitcoin was a driving force for the development of other, more cryptocurrencies around the world.