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All about Bitcoin

Miky C
Senior Editor, TipsHire
all about bitcoin

Bitcoin is a digital coin created in 2009 by Satoshi Nakamoto. The name “creator” Bitcoin is more a pseudonym than a person who created this coin that revolutionized the way the financial industry works.

How Bitcoin appeared

Bit + Coin, that is, a coin of bits. In August 2008, an interesting work called “Bitcoin, a peer to peer money system” was sent to several users interested in cryptography. The work was written by Satoshi Nakamoto, the same developer (or group of programmers) who registered the bitcoin.org domain in the same year. Nakamoto’s identity is still unknown today.

In January 2009, the network was born, and Nakamoto mined the first block, called the genetic block, and received a reward of 50 Bitcoins for that.

One of the first contributors and supporters of Cryptomon, who was the first person to trade Bitcoin, was programmer Hal Finney.

It is estimated that in the first few months of the launch of the Nakamoto system, more than one million Bitcoins mined, or about 16.5 billion dollars today. In 2010, he gave his alert key and source code to programmer Gavin Anderson, who later became the main developer of the Bitcoin network, the currency of the future. Anderson’s first thing was to make sure there was no centralized control, so “if the bus was hit, the network would continue to work smoothly.” Bitcoin was initially negotiated by users, and the first transaction took place in 2010 when a user bought two pizza with 10,000 Bitcoins. Since then, the currency has undergone numerous cycles of appreciation and depreciation. In 2011 the value rose rapidly from $ 0.32 to $ 30 and returned as fast as $ 2.

The volatility of the coin is almost seven times higher than that of gold trading and 18 times the dollar. Fluctuations have created tremendous interest for the currency among business people interested in high-risk transactions.

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All about Bitcoin
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Bitcoin is a digital coin created in 2009 by Satoshi Nakamoto. The name "creator" Bitcoin is more a pseudonym than a person who created this coin that revolutionized the way the financial industry works.
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TipsHire

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