Exactly 13 years ago in 2008, a cryptography mailing list receives an email with a link to a paper authored by Satoshi Nakamoto – Bitcoin: A Peer-to-Peer Electronic Cash System. Satoshi’s white paper explained the methods and benefits of using a peer-to-peer network to generate what in his words could become “a system of electronic transactions without relying on trust”. This idea outlined in the paper was not the first of its kind. In the years prior, many people had attempted to create a form of digital money but failed to do so.

It is the 31st of October on the calendar, so let's recollect together on BetFury all the events that became game-changing in the Bitcoin lifetime and influenced the whole crypto world.

Early Bitcoin Birth Period

2009: Introduction of Bitcoin, Genesis Block

2009 was a very interesting year for Bitcoin, with more technological developments being implemented and integrated with the digital currency. The first-ever block, known as the Genesis Block or Block 0, was mined on the 3rd of January, which was a huge achievement for the infant blockchain technology. In addition to this, on January 12th, the first Bitcoin transaction took place, setting the precedent for the Bitcoin digital currency that we know today.

2010: First physical purchase with Bitcoin

The first-ever exchange of cryptocurrency for real-world physical products happened in May 2010. Laszlo Hanyecz ordered two large pizzas from Papa John’s and paid with Bitcoin. At the time, each Bitcoin was worth less than a penny … about $0.003 to be specific. The pizzas cost about $30, so Hanyecz paid 10,000 BTC for them.

His dinner became historical as it's the first transaction using cryptocurrency to pay for a product. Every year, this day is celebrated on the 22nd of May every year as "Bitcoin Pizza Day”.

2011: Parity with US dollar, black market danger

This year was a huge one for the Bitcoin world, but not everything was positive about 2011. Firstly, Silk Road opened for businesses, which capitalized on the anonymity of the Bitcoin and users could browse on it without any form of traffic monitoring. Nevertheless, Bitcoin saw a huge amount of growth, with 25% of the total number of Bitcoins being generated, and the Bitcoin even reaching parity with the US dollar, and also with the Euro later in the year.

2012: First Halvening

The first halvening happened in 2012, with the next in 2016 and again at the end of 2020. The halvening (or halving) is where the rewards for mining Bitcoin are cut in half. This is necessary because there is a finite amount of Bitcoin available. The event occurs every 210,000 blocks and often precedes a surge in the coin's value. The first halvening was significant as it marked the traction cryptocurrency was getting.

2013: First Bitcoin ATM, Silk Road shut down

Despite experiencing a significant halt in transactions due to a major glitch in the Bitcoin system, Bitcoin grew from strength to strength throughout 2013. The Mt. Gox exchange rate hit an all-time high of 1 BTC to $266. The first-ever Bitcoin ATM was unveiled in California, and the market cap even reached $1 billion!

2013 was a hugely important year for Bitcoin because a Texan judge ruled Bitcoin as being a currency, which was the first time the digital currency was accepted as a method of transaction. In addition to this, some of the negative sides to Bitcoin such as Silk Road were actually shut down by the FBI.

2014: The year of a long bearish market

Looking back to the history of Bitcoin, 2014 was a long and dreary year for investors. The year starts with multiple DDoS attacks on major exchanges and the uncertainty pushes the price of Bitcoin lower.

On the 24th of February, MT. Gox, the biggest exchange, shuts down unexpectedly, claiming to have lost more than 744.000 BTC in the process. What’s more, Bitcoin’s value dropped another 36% in the next month and, by mid-December, falls to the $300 range.

2015: Price recovery and exposure to the mainstream

In the first few days of 2015, and after a large cyberattack that cost Bitstamp almost 20,000 Bitcoins, we see the final value drop to $198 per coin. And while the future of cryptocurrency seems uncertain, a VC-backed startup called Coinbase announces the release of its own Bitcoin trading platform, leading to a quick 40% recovery in the coin’s price.

In November, the European Court of Justice ruled that Bitcoin will not be subjected to value-added tax (VAT) and classified Bitcoin as a currency, instead of property/goods. The positive sentiment helps Bitcoin reach a valuation of $461 per coin towards the end of the year.

2016: Second halving and further recognition

Bitcoin is increasingly recognized as a safe-haven asset in 2016. Following the attention as a potential investment, Bitcoin undergoes the most important event of the year. The second halving happens in July, dropping mining rewards from 25 to 12.5 coins per block.

Subsequently, major cryptocurrency exchange Bitfinex suffers a cyber-attack and loses almost 120,000 Bitcoins. Unshaken by this event, Bitcoin continues to increase in value over time and breaks the $700 mark in November. Bitcoin ends 2016 recovering to $807, and goes into 2017 with a generally positive mood.

Bitcoin Boom Times

2017: The best year in the history of Bitcoin

Bitcoin hits $10,000 USD, a long way from paying 10k BTC for two pizzas! Cryptocurrency became truly proven, finally declared as one of the biggest markets for both traditional and alternative investors. Investors across the world would enter telegram groups asking founders and other investors in token projects the typical phrase: “when moon?”

2018: The Bear Market and a new chapter for Bitcoin

Bitcoin enters 2018 at $13062, approximately 30% below its all-time high. Google, Twitter, and Facebook decide to temporarily ban cryptocurrency-related ads.

Over the year, Bitcoin’s price continues to decline, losing more than 70% of its value, eventually falling to the mid $3000 range. However, the volume of transactions keeps increasing and reaches a new record high – over $2 trillion worth of Bitcoin was traded in 2018. This increase in Bitcoin volume shows that investor interest keeps on growing despite the conditions the market is facing.

Crypto Goes Mainstream

2019: BetFury Bitcoin Casino Birthday

A number of events happened throughout 2019, and one of the biggest and most interesting things from our point of view was the launch of BetFury – the Leading Social Bitcoin Casino. Though Bitcoin reached $3201, the lowest level in this bear market, more and more startup projects kept building blockchain-related products.

As the year went on, we saw some incredible price jumps up to $13.000 per coin, if only for a brief amount of time. It worked in a positive manner, however, with the public “awakening” to the fact that Bitcoin is still here and stronger than ever.

2020: Crypto Lending

Although cryptocurrency lending was already happening it went mainstream midway through 2020. An economic crash resulting from the worldwide pandemic leads to falling interest rates and lending opportunities plummeting. Investors start looking for other opportunities and crypto is there to pick up the slack.

2021: Market Cap Surpasses $2 Trillion

The total market cap of the cryptocurrency passes $2 Trillion USD. Once seen as a speculative experiment, crypto has become a monolith. New ways of using technology and strategies for generating income are rapidly emerging. Crypto’s place in the market is cemented.

Bitcoin price evolution

When Bitcoin was launched in January 2009, it was worth pennies. This October, the BTC price broke its previous all-time high hitting $66 974. Let's remember how much Bitcoin was worth every year on the October 31st in the entire history of its existence🚀

• 2009 ~ $0.0007
• 2010 ~ $0.5
• 2011 ~ $3
• 2012 ~ $10
• 2013 ~ $200
• 2014 ~ $342
• 2015 ~ $325
• 2016 ~ $700
• 2017 ~ $6130
• 2018 ~ $6325
• 2019 ~ $9200
• 2020 ~ $13500

Fun facts about Bitcoin

Bitcoin has become an astonishing phenomenon and shown us that it's possible to have a digital currency that doesn't rely on banks or governments. Plus, the blockchain technology that enables Bitcoin can transform various industries, from finance to healthcare.

Curious to know more about the world's first cryptocurrency? Here are some surprising Bitcoin facts:

• Around 20% of Bitcoin has been lost forever.
• Тhere have been 668 million Bitcoin transactions.
• Bitcoin is legal tender in El Salvador.
• The last Bitcoin will be mined in 2140.
• A pizza purchase was the first commercial Bitcoin transaction.
• There are almost 100,000 Bitcoin millionaires.
• The smallest fraction of Bitcoin is named after Satoshi Nakamoto. It is called Satoshi (sat) and has a value of 0.00000001 BTC.