Bitcoin Turns 10 Years Old Today

in #bitcoin5 years ago

Happy Birthday Bitcoin!

Ten years ago on Halloween, someone going by the name of "Satoshi Nakamoto" released the bitcoin white paper.

He, she, or they wrote the white paper with the intention of creating the first peer to peer trustless digital payment system.

Specifically, the vision was:

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."

(Source: https://www.cnbc.com/2018/10/31/bitcoin-turns-10-years-old.html)

Satoshi's vision was unique in that this currency would be trustless and solve the double-spending problem that other digital currencies ran into in the late 90's.

Some history:

Shortly after bitcoin was first introduced on Halloween of 2008, it began gaining popularity in online forums due to its intriguing potential.

Then, in early 2009, it went live with the first "genesis" block being mined in January, sending the first 50 bitcoins out into the world.

Ironically, to this day no one really knows exactly who or what Satoshi Nakamoto is.

There are currently a plethora of rumors surrounding the creator's identity, but nothing has been confirmed.

Even more interesting is that the person(s) claiming to be Satoshi Nakamoto mined roughly a million bitcoins in its early days and those bitcoins haven't moved since.

Not one time.

That is interesting because the value of those coins is worth over $6 billion dollars at today's prices.

If it was one individual, and he is still alive, one would think he would move at least some of those coins at some point. Considering they were literally worthless when they were created and now are worth over $6 billion.

Which is a generational type of wealth.

(Source: https://www.icoexaminer.com/ico-news/world-celebrates-tenth-anniversary-of-bitcoin-white-paper/)

Looking ahead:

What might the next 10 years hold for bitcoin?

So far, bitcoin hasn't really succeeded in catching on as a mainstream digital currency.

Thus far it has mostly been used a speculative investment vehicle.

The technology is still not there to be able to efficiently scale on a global level in a way that would make sense to use bitcoin over legacy financial systems.

For that reason, bitcoin mostly makes sense as an investment hedge in a well diversified portfolio, due to it not being correlated to any other asset class.

Over time though, it would not surprise me to see it catch on as a global currency as well.

Once the technology catches up to the hype, it may end up being the de facto currency of the internet.

Here's to hoping.

Happy birthday bitcoin!

Stay informed my friends.

Image Source:

https://www.chepicap.com/en/news/4816/today-marks-the-10th-anniversary-of-the-bitcoin-whitepaper-happy-birthday-btc-.html

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HAPPY 10TH ANNIVERSARY BITCOIN!!!!
For all those who have invested in Bitcoin or other Cryptocurrencies over the years (including all Steemians) here is a video explaining how to join the Crypto Industry Class Action against Facebook & Google's Crypto Ad Ban to support the Crypto Community and recover your losses. https://www.bitchute.com/video/DqUPmlUjL0Ke/

This is pretty interesting. Any chance anyone wins anything from this?

Happy birthday!

Birthday party on Halloween; how appropriate
😂👍😂

haha yes it is. It's been scary good so far. Hope it continues.

Happy birthday Bitcoin! Wouldn't it be funny if Satoshi Nakamoto had a secret account on Steemit?

You never see @ned and Satoshi Nakamoto in the same place... Hhhhhhmmmm... :)


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Yes that is pretty interesting... I have noticed that as well.

wow...i did not expect that bitcoin will last 10 years and more..

as i first knowing about bitcoin it's just $4 each bitcoin..but now bitcoin reach 10 years with a world record of $20,000🎊🎊🎉🎊🎊

Hopefully you bought a bunch of it at $4?

I still remember that Bitcoin faucet where they gave you 5 Bitcoin just for signing up...

I got the 5 for free and bought 20 more. Lost them between mt gox and someone throwing out my old computer when I got a new one.

Man that is rough... any of them left?

I did everything right. Paper backup, hard drive backup, but someone decided to tidy up for me and now we can't find them.

I had a Mt. Gox account and we know what happened with that...

I got in when Bitcoin was $1 in early 2010 I think? Everyone thought I was crazy, but I knew crypto was the future and saw no problem investing $20 in it. :)

Geeze... $20?! I'm jealous. Didn't buy my first till bitcoin was around $1k. Coughed up a bit more than the $20 initially ;)

I am not truely trusted bitcoin that time..and it made a big mistake 😂😂

I like buying bitcoin at current levels personally. Ok holding it here for a while.

Ho i wish i trust bitcoin before when it was $4 but it's too late the damage has done..

Now even investing to have a good power in steemit is too expensive..Hahaha..

But still i can power up to some of my rewards..

Yes that is true. The more steem power you have the more you can make on here.

Next ten years will be of adoption and technology improvements to interfaces and scaling. The interest and need behind not only the asset but also the technology of blockchain will ensure that it will continue to grow in demand.

Yep, that tends to be how new technologies start out and advance. Similar to what happened with the internet.

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