Bitcoin has remained in the news for a long time over the past few years. We now see the currency passing through its low and high phases. It has kept on happening for Bitcoin as digital money in the last few years. We see them as something new, and Bitcoin has remained in the market since 2009, and the technology behind it ranges from around 1000 USD. Digital money has long gone to about 36 M USD in the market. It has learned a lot from history that often seemed to repeat mistakes. So, here we are presenting a short history of Crypto, which has a significant portion of Bitcoin in the market. You can trade Bitcoin with Bitcoin Prime app.
1998 – 2009 – The Pre-Bitcoin Years
We see Bitcoin was referring to Crypto; we can have earlier methods of creating digital currencies that come along with the ledgers that secure encryption. We see a few examples like Bit Gold and B-Money that are developed with the completely developed option.
2008 – The mystery man Satoshi brings the coin
Satoshi Nakamoto, a mystery man, was thinking hard when the recession hit the world. He knew that the fiat currency-based economy has issues like inflation, which can worsen things. However, nobody thought of solving this problem by seeking the help of an alternative currency known as Crypto. So he came up with his paper, known as Bitcoin – A P2P Electronic cash system- that gained a good mailing list discussion over Crypto in the market. He also posted this paper with his team’s name, Satoshi Nakamoto, who remains the essential mystery of the day.
2009 – The advent of Bitcoin
Here comes Bitcoin software that went public in the market and reached for the first time as a mining option. It is a process that deals with creating new Bitcoin in the market, while the technology that works behind the currency is known as Blockchain.
2010 – Bitcoin is valued for the first time
If you are trading it with the mining option, it has become possible to assign a monetary value that works like units like emerging Crypto in the market. In 2010, they are now deciding to sell there for the debut time, and it gave two pizzas for 10K Bitcoins. Moreover, it came with the buyer, who was seen hanging over Bitcoins in the market and gained 100 M USD.
2011 – Rival Cryptos
Bitcoin boosted its popularity with the decentralized idea, and encrypted currencies entered the market. It works like the first alternative Crypto that appears in the market, and you can find too many more altcoins that is seen improving upon the original Bitcoin design. Moreover, it comes with incredible speed to give their first cryptos like LTC and Namecoin. Currently, you can find more than 10K coins in the market.
2013 – Bitcoin price crashes
Shortly when you see the price of a single BTC went close to 1k USD for the first time, we know the cost of the digital money soon started coming fine. Many people are seen investing colossal money, and you can find people suffering a massive loss in the market at this very point. It went for 300 USD.
2014 – Theft and Scams
It is surprising to see a good buzz in the market, an excellent anonymous call, and a lack of mind coming along at the best time. But unfortunately, Bitcoin has proved a lucrative option for anti-social elements like criminals. In 2014, we saw Bitcoin losing the chance to own 86K coins that went away in a scam. The loss was estimated at around 450 M USD in the market. Today the same amount of Bitcoin will cost you about 4.5 B USD.
2016 – ETH
The next thing to consider is ETH it went on to steal colossal money this year, coming along with a good buzz in the market. The platform was able to use Crypto in a big way, with Ether coming and facilitating Blockchain in the market and with the same apps and contracts. The emergency of ETH came as a fundraising market coming along with the start-up venture.
2017 – BTC reaches 10K USD
As the year came, it went with a big bang making Bitcoin come close to 10K USD in the market. Many more are gradually making things quick with the Bitcoin ecosystem progressing faster. Gradually we see many more users emerging to become a critical currency in the market.