The first cryptocurrency – Bitcoin, was released in 2009 by a pseudonymous developer by the name of Satoshi Nakamoto. If it isn’t the first, then it is certainly the first to gain global public attention. We have all heard of stories of somebody paying for a couple pizzas or perhaps a boutique waffle nearly a decade ago with a large quantity of bitcoins, a quantity that made you pull out your smartphone calculator app and leave you with the realization that if only you had been that food vendor, you would now be able to pay off a small town’s worth of mortgages. Bitcoin has astonishingly shaken the world since 2009 and it is no mystery why its founder(s) remain discreet. It has attracted both praise and scrutiny since its subtle beginnings, and as each individual bitcoin surpassed twice the price of an ounce of gold in 2017, one can’t help but realize that it just might be here to stay.
Below is a Bitcoin timeline that tracks key moments in history, from its original inception to present-day perseverance.
Satoshi Nakamoto – The Legend
According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007. While some speculate he lives in Japan, it is thought by many that Nakamoto may be a collective pseudonym for more than one person.
An Interesting Patent Application…
Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent. All three individuals deny a connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept.
Bitcoin.org is Registered
Bitcoin.org is born! The domain was registered at Anonymous Speech, a site that allows users to anonymously register domain names and currently accepts Bitcoin.
The Bitcoin Project Hits SourceForge
The Bitcoin project is registered on SourceForge, a community collaboration website that is focused on the development and distribution of open source software.
The First Bitcoin Transaction
The first transaction of Bitcoin currency, in block 170, takes place between Satoshi and Hal Finney, a developer and cryptographic activist.
An Exchange Rate is Established
New Liberty Standard publishes a Bitcoin exchange rate that establishes the of value a Bitcoin at US$1 = 1,309.03 BTC, using an equation that includes the cost of electricity to run a computer that generated Bitcoins.
10,000 BTC Spent on Pizza
The first, real-world transaction using Bitcoin takes place when a Jacksonville, Florida programmer, Laszlo Hanyecz, offer to pay 10,000 Bitcoins for a pizza on the Bitcoin Forum. At the time, the exchange rate put the purchase price for the pizza at around $25.
MtGox is Established
The MtGox Bitcoin currency exchange market is established by Jeb McCaleb.
Exploit Generates 184 Billion Bitcoins
A vulnerability in the BItcoin system that causes Bitcoin to be improperly verified is discovered and exploited, resulting in the generation of 184 billion Bitcoins.
First Mobile Bitcoin Transaction
The first portable-to-portable transaction of Bitcoins occurs when ribuck sends doublec 0.42 BTC using Bitcoind.