TCO Blog

The History of Bitcoin

by Ksajikyan
The History of Bitcoin

Bitcoin, what is that? Many people heard the word “bitcoin” but don’t know what is that actually.
Let’s continue and discover some interesting things about Bitcoin.

Finance, like many other inventions, is constantly evolving. The new form of currency has been constantly evolving over the past decade. It is a new form money that is created and held digitally, and the most important part is that no government owns it or decides its value, it does the community. So this new money we call “bitcoin”.

Actually, U.S. currency has been based on gold, it means you could give a dollar to a bank and receive a set amount back in gold. In contrast, Bitcoin isn’t based on silver or gold, it’s based on mathematical proofs. So how did Bitcoin start? There are many questions about it but the most common one is who invented the Bitcoin. The answer is not obvious because the identity of creator remains a mystery. All we have is a pseudonym-Satoshi Nakamoto. The accounts are no longer active, the coins in his wallet have never been spent.

Recently we explored many articles about Bitcoin and found some interesting facts, Fast Company published an article suggesting that Satoshi Nakamoto could be a group of people , including Neal King, Vladimir Oksman, and Charles Bry.

We have these facts:
• On October 31st, 2008, “Bitcoin: A Peer-to-Peer Electronic cash system” was posted to a cryptography mailing list, published under the name “Satoshi Nakamoto”. The whitepaper outlined the foundation of how Bitcoin would operate.
• In August 18, 2008, an unknown person or entity registered the
• On January 8th, 2009, the first version of Bitcoin is announced, and shortly thereafter, Bitcoin mining begins.

So what is Bitcoin used for? Currency must have value to ensure stability. Bitcoin is no different, and a host of vendors and merchants now accept it alongside, or in place of flat money. One early adopter of bitcoin was the computer retailer Dell. Actually, when Dell started accepting Bitcoin, it became one of the largest companies. While the digital currency may total for just a fraction of the retailer’s total transaction volume, there are other key reasons why the growth of Bitcoin could be a boon for the retailer.

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