The History of Bitcoin: A Decade of Digital Currency detailed breakdown

Bitcoin has really opened up and given birth to a new way of viewing finance, the revolution of finance started with the creation of bitcoin the world financial system changed completely and it paves way for the creation of other cryptocurrencies which has all contributed in revolutionizing the financial system and also made it possible for emergence of things like NFT's and other project built on blockchain technogy.

Bitcoin which has been around for more than a decade now has really improved the world's financial system and deserves a breakdown of it's performance throughout the decade since it's creation infact.

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A Detailed Dacade Breakdown Of Bitcoin

Well the genesis of bitcoin was actually around 2008 through 2009, in this period we had the publication of bitcoin white paper and eventually around this same time was the first cryptocurrencies yes the very first digital currency created as the first software became available around January 2009 giving opportunity for all who want to, to mine the very genesis block of this wonderful cryptocurrencies.

It was all made possible by the man Satoshi Nakamoto, he was the one behind the concept and creation of bitcoin, he was the man behind the creation of the hardest currency the world has ever known with one of the best technogy known to man, with the mining of the genesis block made possible in 2009 this gives rise to the bitcoin blockchain to be birthed.

Now bitcoin may have started around 2008-2009 but the first real world transactions involving bitcoin was done on may 22, 2010. By a man named Laszlo Hanyecz who used 10,000 BTC to buy two pizzas, an infamous story, am sure this man probably regrets this decision today but it indeed laid the precedent for enabling the use of bitcoin in the world's commerce.

It was also during this period, the period of 2010-2012 that the first digital currency bitcoin began gaining the attention of tech enthusiast who became actively interested in bitcoin and then bitcoin was traded by Mt. Gox exchange which emerged in 2010 and which helps in making exchange of bitcoin to our traditional currencies a possibility and it was during this process that the bitcoin mining process sparked even more competition creating the need for even better and efficient hardware to be used in the mining process, so the 2010-2012 period was really crucial and important in bitcoin growth.

Then there comes the 2013 through the 2016 period, within this time period bitcoin experience it's first most rapid price volatility and fluctuations, first there was a price surge up to around $1k then around 2015 to 2016 the price slumped to $300 experiencing a rapid spike in price and rather sharp downturn and this period was also when businesses began accepting it as a payment method, bitcoin gradually little by little became to gain wide acceptance this coupled with the extreme market volatility experience calls the attention of government who begins to notice bitcoin and subsequently began questioning the legitimacy and hence the regulatory issues actually started then.

Then the 2017-2018 period was when bitcoin actually and fully gained mainstream adoption it was also when institutions began looking into bitcoin as an asset worth investing in and this was because of the significant price surge experienced by bitcoin especially during 2017 the december when bitcoin rised to $20k for 1 Btc, this really got the attention of the mainstream and institutional investors who began looking into bitcoin as investment option despite the fact bitcoin still corrected well enough around 2018.

During the period of 2019, 2020 and subsequently 2021 bitcoin expanded, scalability solutions start rolling out, it experienced expansion even in wallets and we now had more exchanges facilitating the trading of bitcoin like never before and big institutions and big game players began stepping in fully in bitcoin, even Elon musk owned tesla also got in to bitcoin investment, so yes bitcoin experienced institutional adoption abeit manipulations also with the presence of this big institutions though bitcoin still managed to reach a high of $69k around 2021 before correcting.

Well from 2022 till present, bitcoin continued in it's advancement, technologically and otherwise also concerns also arouse about the impact bitcoin mining is having on the environment, with some claiming it's impacts it's much and stuff like that and then this year it's all been about talks of the ETF and anticipation of the next bitcoin halving come 2024 which is expected to kickstart the next bitcoin bull market which will also impact the whole cryptocurrency market.

So this is a brife and concise breakdown of bitcoin over the decade now.

Conclusion

Ofcourse we have seen how what started as a something insignificant has gained wide acceptance and even revolutionize the worlds financial system, the emergence of bitcoin with blockchain technogy has help in making creation of many things possible and has grown to the point of institutional adoption and is still growing, with the etf coming we know that bitcoin will still keep developing, indeed bitcoin is digital gold the hardest currency to ever exist❤️