Bitcoin and its history

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8 Jan 2024
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Bitcoin is a decentralized digital currency that was invented in 2008 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It was introduced as an open-source software in 2009, and its implementation was released as a whitepaper titled

  1. Creation (2008-2009): The concept of Bitcoin was introduced in a whitepaper published by Satoshi Nakamoto in October 2008. The Bitcoin network went live in January 2009 with the release of the first Bitcoin software and the mining of the first block, known as the "genesis block" or "Block 0."
  2. Mining and Early Adoption (2009-2010): In the early days, Bitcoin mining was relatively easy, and early adopters could mine large quantities of bitcoins using regular computers. The first recorded commercial transaction with Bitcoin occurred in May 2010 when a programmer named Laszlo Hanyecz paid 10,000 bitcoins for two pizzas
  3. Mt. Gox and Price Milestones (2011-2013):


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