People who have been exposed to the digital currency market must be familiar with Bitcoin, but very few people fully understand the development and growth history of Bitcoin. Today, this article will review the important development history and development of Bitcoin. Some important events experienced in the process, I hope everyone can better understand Bitcoin, so as to better invest in Bitcoin.
A review of major events:
- The concept of Bitcoin was first proposed by Satoshi Nakamoto on November 1, 2008, and was officially born on January 3, 2009.
- On October 5, 2009, New Liberty Standard launched the service of trading bitcoins in US dollars, and the exchange rate was set at 1,309BTC:1USD according to the cost of computer mining at that time.
- On May 22, 2010, a man named Laszlo Hanyecz paid 10,000 bitcoins for 2 pizzas. This day is now celebrated as Bitcoin Pizza Day. Until today, the two pizzas are worth about 100 million US dollars ≈ 680 million RMB.
- On February 9, 2011, the bitcoin price of Mt. Gox, the world’s first bitcoin trading platform, reached $1 a piece, and the mainstream media reported this milestone of bitcoin. The official website of the currency was once inaccessible.
- On June 1, 2011, someone posted the Bitcoin transaction on the Silk Road (Silk Road is a dark web, and the specific situation is Baidu), and attached the link of Mt. Gox to buy Bitcoin. Affected by this article, the Bitcoin price topped out at $31.
- On June 19, 2011, hackers invaded the computer of Mt.Gox auditors, causing the value of bitcoins in the system to drop sharply. The value of bitcoins on the Mt.Gox platform fell to only 1 cent overnight!
- On May 14, 2013, the U.S. Department of Homeland Security deemed Mt. Gox not qualified for remittance business and froze two bank accounts owned by Mt. Gox. Bitcoin fell from a high of $266 to $117.9.
- On November 20, 2013, Yi Gang, deputy governor of the People’s Bank of China, said at the Economic Forum, “It is impossible for the People’s Bank of China to regard Bitcoin as a legal financial tool, but people can freely participate in the Bitcoin market.” He also Will keep an eye on Bitcoin for a long time. Bitcoin price peaked at $1,132.26 a few days later.
- On March 6, 2014, New York Newsweek reported an article on “The Face Behind Bitcoin”. The article said that a programmer named Dorian Nakamoto was the creator of Bitcoin, but the Satoshi Nakamoto denied that he had anything to do with Bitcoin.
- On October 22, 2015, the European Court of Justice ruled that Bitcoin is a currency, not a commodity or an asset, and that it should be treated like traditional currencies in Europe. This ruling encouraged Bitcoin supporters.
- On July 9, 2016, Bitcoin ushered in the second reward halving in history, and the reward for each block was reduced from the previous 25 Bitcoins to 12.5. During the lifetime of Bitcoin, 21,000,000 Bitcoins will be issued. The next reward halving is expected to take place in July 2020.On January 3, 2017, driven by global events such as “Brexit” and the US election, Bitcoin rose sharply, reaching a maximum of $1020.47. It was also the first time in history that it broke the $1,000 mark, and the event was widely reported by mainstream media.
- On August 1, 2017, the hard fork of Bitcoin Cash (BitcoinCash, BCC, BCH) was born.
- On September 4, 2017, the People’s Bank of China jointly issued a document with seven ministries and commissions, stating that “the raising of so-called “virtual currencies” such as bitcoin and ether from investors is essentially an unapproved and illegal public financing behavior. Illegal sale of token tickets, illegal issuance of securities, illegal fundraising, financial fraud, pyramid selling and other illegal and criminal activities, any so-called token financing trading platform shall not engage in the exchange business between legal currency and tokens and “virtual currency”, It is not allowed to buy, sell or act as a central counterparty to buy and sell tokens or “virtual currency”, and must not provide pricing, information intermediary and other services for tokens or “virtual currency”. After the announcement, Bitcoin fell 35% in a week
- On October 13, 2017, the price of Bitcoin exceeded $5,000 for the first time.
- On October 31, 2017, the Chicago Mercantile Exchange announced that it would launch bitcoin futures contracts in the fourth quarter of 2017, pending relevant regulatory review. In the following month or so, Bitcoin started a skyrocketing mode, rising from $5,400 to $19,890 (December 17), an increase of 268%!
- On December 11, 2017, the Chicago Board Options Exchange (CBOE) launched bitcoin futures contracts as scheduled
- On December 18, 2017, a new round of digital currency bear market officially began. Bitcoin continued to fall from a high of nearly 20,000 US dollars, and the lowest point fell to around 3,000 US dollars on December 13, 2018. From 2018 to 2019 Gradually recover.
- Bitcoin halved for the fourth time on May 12, 2020.