Bitcoin is celebrating its 13th birthday as the most popular
Software

Bitcoin is celebrating its 13th birthday as the most popular and expensive cryptocurrency in the world

13 years have passed since the moment when a mysterious person under the pseudonym Satoshi Nakamoto started the main Bitcoin network on January 3, 2009 and dismantled the so-called “Genesis block” with the first 50 cryptocurrency units. Although the identity of the creator of the first cryptocurrency is still unknown, even after so many years, Bitcoin is doing fine and is trading at $ 46,157 per unit at the time of this writing.

Image source: st_visualization / Pixabay

Image source: st_visualization / Pixabay

Shortly after the first Bitcoin block was released, it became known that the creator of the cryptocurrency had left in his hash the message “Chancellor on the verge of a second bailout for banks,” which repeated the January 3, 2009 Times headline. The first Bitcoin transaction took place on January 12, 2009. Satoshi Nakamoto transferred 10 units of cryptocurrency to the programmer Hal Finney, whom some experts called the creator of Bitcoin.

It is also known that Nakamoto began work on the technical documentation on the cryptocurrency in October 2008 and the documentation became publicly available on October 31 of the same year. The idea for the concept of a decentralized digital currency is said to have arisen after the financial crisis in 2008. No friend of the modern banking system, Nakamoto wanted to get rid of the usual financial institutions and shadow brokers that he believed were corrupt and unreliable. Hence the idea of ​​creating a digital currency that would largely be in the hands of the community to manage.

Thirteen years later, Bitcoin continues to thrive with a market capitalization of nearly $ 900 billion.Currently, significant amounts of cryptocurrency are in the hands of billionaires, various financial and investment organizations, celebrities and national governments, indicating the success of the Nakamoto Project. Bitcoin was trading at $ 32,000 per unit on its final birthday, but is now priced at over $ 46,000 per unit, indicating over 45% annual growth.

About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

Add Comment

Click here to post a comment