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Bitcoin- From The Begining Till Now

Evolution Of BitcoinEvolution Of Bitcoin

Evolution Of Bitcoin

According to legend, Satoshi Nakamoto started to work on the Bitcoin concept in the year 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective pseudonym for more than one person.

August 15, 2008:     An interesting patent application…

Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application. All three individuals deny a connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept. source

August 18, 2008:      Bitcoin.org is registered

Bitcoin is born! The bitcoin.org domain was registered at anonymousspeech.com, it is a site that allows users to anonymously register domain names. It currently accepts Bitcoins.

October 31, 2008:      The white paper is published

Nakamoto publishes a design paper through a metzdowd.com cryptography mailing list that describes the Bitcoin currency and solves the problem of double spending so as to prevent the currency from being copied.

November 9, 2008:      The Bitcoin Project hits SourceForge

The Bitcoin project is registered on SourceForge.net. The SourceForge is a community collaboration website like Github.com which focused on the development and distribution of open source software.

January 9, 2009:       Version 0.1 is released

Version 0.1 of Bitcoin is released. It was Compiled with Microsoft Visual Studio for Windows, it lacks a command line interface and is so complete that it furthers speculation that it was developed by more than one person (or by an academic with little programming experience and a great deal of theoretical know-how). It includes a Bitcoin generation system that would create a total of 21 million Bitcoins through the year 2040.

January 12, 2009:       The first Bitcoin transaction
The first transaction of Bitcoin took place between Satoshi and Hal Finney on January 12 2009, a developer and cryptographic activist.

October 5, 2009:       An exchange rate is established
New Liberty Standard publishes a Bitcoin exchange rate that establishes the value of  US$1 = 1,309.03 BTC, using an equation that includes the cost of electricity to run a computer that generated Bitcoins.

Now, after the WannaCry Cyber attack, the Exchange rate has shot up. Now(19-June-2017 11:36PM IST), the bitcoin exchange rate is 1 BTC=2,585$.

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