Hurray! The Bitcoin whitepaper is 12-years-old today. 12 years ago today, the anonymous Satoshi Nakamoto published the link to a whitepaper with a cypherpunk cryptography mailing list.
The whitepaper was titled, Bitcoin: A Peer-to-Peer Electronic Cash System. The historic innovation has also plunged the world into a completely new phase.
The “King Crypto” as it is popularly known has had to surmount a lot of challenges to reach where it is today. As Altcoin Buzz noted in a tweet, Bitcoin “has “died” 383 times since its whitepaper launch 12 years ago.
12 years ago on 31 Oct, Satoshi Nakamoto published the Bitcoin White Paper.
It has ‘died’ 383 times since.
Bitcoin’s first-ever recorded trading price on 17 Mar 2010 was $0.003.
Today it’s over $13,500.
Long Live Satoshi!
— Altcoin Buzz (@Altcoinbuzzio) October 30, 2020
From being totally ignored to stifling regulations and now several countries aiming to launch a CBDC all in a bid to stifle its growth and development. Yet Bitcoin seems unstoppable, with the global adoption of the crypto at impressive heights.
History of Bitcoin
About two months before the October 31, 2008 whitepaper launch, the domain name bitcoin.org surfaced online. On January 3, 2009, Bitcoin officially came online with about 30,000 lines of genesis code. Satoshi mined the first-ever bitcoin and the crypto has been online since then. The crypto is structured in a way that, over the next 20 years, about 21 million bitcoins will be launched.
Discussing the history of Bitcoin will be incomplete without mentioning Hal Finney. Finney was among the first persons to recognize the potential in Bitcoin. He was a game developer and also a member of the “cypherpunk movement.”
Finney, before his death in 2014, spoke highly of Bitcoin. According to him, he was intrigued by the idea of a completely decentralized online currency. One that couldn’t be falsified, devalued, and could even be transferred easily. Finney was also one of the first persons to mine the first Bitcoin (10 BTC from block 70).
In 2010, Bitcoin attracted the attention of several merchants. Many began accepting Bitcoin from clients and customers. The first-ever recorded tangible Bitcoin transaction was a pizza.
By 2012, the crypto had attracted the attention of top “techies” like the Winklevoss twins, who allegedly currently hold 1% of the total bitcoins.
Bitcoin price predictions
Throughout its existence, the crypto has gone through several highs and lows. It started out trading at $0.003 and is currently priced at over $13,500. More people are also still quite bullish about the crypto. Recently, a Tesla investor predicted the crypto to be worth $1 trillion in about 10 years.
Many crypto enthusiasts have turned to social media to commemorate 12 years since the Bitcoin whitepaper was published. Popular blockchain security firm Halborn has elicited the support of several celebrities to wish Bitcoin a “Happy Birthday.”
The celebrities involved include David Hasselhoff, Gilbert Gottfried, and Charlie Sheen.
At the time of writing, Bitcoin was up by 2.6% and is trading at $13,627.39. The crypto also has a market cap of $252,519,643,447 and a 24-hour trading volume of $21,477,535,111.
Find out more about Bitcoin on the Altcoin Buzz YouTube channel.