The 5 Greatest Moments in Bitcoin History

The 5 Greatest Moments in Bitcoin History

bitcoinBitcoin was invented by Satoshi Nakomoto who published news about his invention at the end of October, 2008. Bitcoin was implemented three months later as the first digital currency. Bitcoin is a ?peer to peer’ electronic cash system, popular among the more technologically aware as well as the economically progressive.

Take a look at the 5 greatest moments in Bitcoin history.

1.The beginning of Bitcoin

Everything about money changed with the invention of Bitcoin and financial transactions and banking have not been the same since. With the invention of Bitcoin, one no longer needs a bank account to send money around the world. Anyone, irrespective of age or identification, could access a digital bank. They could be in a mud hut in Africa or on a beach in Hawaii, but as long as they had internet, they had Bitcoin banking. The first transaction was by Nakamoto himself sending 10 BTC to the late Hal Finney on 12 February, 2009.

2.Forgotten Bitcoins worth thousands

In 2009 a Norwegian man named Kristoffer Koch bought just under $27 worth of BTC for 150 krone. He had discovered Bitcoin while learning and researching encryption. He stored his Bitcoins in an encrypted wallet, secured with a private key, and promptly forgot all about them. After wide media coverage in 2013 about the success of Bitcoin, Koch tracked down his password and reclaimed his Bitcoin. He had around $886,000.

3.Pizza

Money is meaningless unless you are able to use it. Bitcoin initially was little more than theoretical and the coins where worth little. But in May 2010, Laszlo Hanyecz made a pizza transaction. He asked someone in the United Kingdom to buy him a pizza from Papa John’s and have it delivered to him. He paid BTC 10,000 for the pizza and delivery. When the pizza arrived, Laszlo photographed it, uploaded it to the net for proof, making it the first real Bitcoin transaction.

4.Police chief paid in Bitcoin

As people around the world became familiar with Bitcoin, more people became keen to try it out. In 2013 a police chief from a small town in Kentucky, Vicco, asked to be paid in Bitcoin. The mayor of the town Johnny Cummings made the transaction, essentially opening a Bitcoin account for the town. The mayor and the police chief looked at this as a long term investment, that the money would rise in value over time. It has been a rocky road; the police chief still has his Bitcoin.

5.A Bitcoin marriage

In July 2013 a young couple from Provo, Utah, decided to get married and live on Bitcoin. Apart from vowing to love and to cherish one another, they vowed to use nothing but Bitcoin for the first three months of wedded bliss. Called ?Life on Bitcoin’ they made a documentary and have a blog for people to follow. Their true love is not just to one another but to the crypto-currency, Bitcoin.

 

 

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