A brief evolution of bitcoin 2009-2012

eli2311 (16)in #bitcoin • 6 years ago

The concept of the Bitcoin begun back in 2007, with the pseudonymous Satoshi Nakamoto began working on the idea in Tokyo, Japan. Not only did Satoshi design the Bitcoin and its implementation, he also helped to devise the first blockchain database, which has led to a huge number of security advantages being implemented across the world as we speak.

The year 2009, was a very interesting year for the Bitcoin, with more technological developments being implemented and integrated with the digital currency.

But all was not well for a particular Bitcoin owner in 2009. A British man named James Howells jumped straight onto the Bitcoin tidal wave, and mined a total of 7,500 Bitcoins, preceding to store them in a hard drive due to the fact they weren’t worth very much at the time. The hard drive was then ultimately forgotten about, and this led to Howells ending up throwing the hard drive away, completely forgetting about the Bitcoins stored on it! At the time of being thrown away, the Bitcoins were worth over $600,000, which would hurt enough thinking about throwing that much money away.

2010- Bitcoin value increases ten times over.

2011- Silk Road open for

2012- Coinbase was founded