Technology A Short History Of Bitcoin And Crypto Currency Everyone Should Read

22:00  06 december  2017
22:00  06 december  2017 Source:   Forbes

Elon Musk denies he created bitcoin

  Elon Musk denies he created bitcoin One of the biggest stories of 2017 has been the surge in the price of bitcoin, the cryptocurrency touted an alternative to gold and other investments. For years, many have wondered who the mysterious Satoshi Nakamoto, the creator of bitcoin, is.One person it's not? Elon Musk.One person it's not? Elon Musk.

Those who don’t learn from history are doomed to repeat its mistakes – so here is a brief history of Bitcoin and cryptocurrency. Although Bitcoin was the first established cryptocurrency, there had been previous attempts at creating online currencies with ledgers secured by encryption.

Secondly, trading is not for everyone . The following tips are easy to internalize because these tips Bitcoin is a volatile asset (relative to FIAT) and this fact should be taken into consideration What is short ? long? how to leverage your trades? Follow here to our crypto margin trading for beginners.

What to watch next
  • Local residents react as numerous homes burn on a hillside during a wind driven wildfire in Ventura, California: Local residents react as numerous homes burn on a hillside during a wind driven wildfire in Ventura.

    Homes burn as fire breaks out in Los Angeles

    USA TODAY Logo
    USA TODAY
    2:13
  • a person posing for the camera: Time Names 'Person Of The Year'

    Time Names 'Person Of The Year'

    Wochit News Logo
    Wochit News
    0:40
  • Southern California wildfires force thousands to evacuate, new blaze erupts in Los Angeles

    Southern California wildfires force thousands to evacuate, new blaze erupts in Los Angeles

    FOX News Logo
    FOX News
    2:30
  • a group of people standing in front of a crowd: Fears of violence ahead of Trump's Jerusalem announcement

    Fears of violence ahead of Trump's Jerusalem announcement

    CBS News Logo
    CBS News
    1:01
  • a man wearing a suit and tie:

    "Enablers, silencers and spies": Behind Harvey Weinstein's cover-up

    CBS News Logo
    CBS News
    3:06
  • a man wearing a suit and tie: Obama: Difficult to defend US withdrawal from Paris agreement

    Obama: Difficult to defend US withdrawal from Paris agreement

    AFP Logo
    AFP
    0:50
  • a close up of text on a black background: 'Iran is threatening the entire world' - Israel PM

    'Iran is threatening the entire world' - Israel PM

    Reuters Logo
    Reuters
    1:08
  • a close up of a mans face: Pope calls for 'wisdom and prudence' on Jerusalem issue

    Pope calls for 'wisdom and prudence' on Jerusalem issue

    Reuters Logo
    Reuters
    1:00
  • a man in a suit and tie: Turkish FM: Whole World Against US Embassy Move

    Turkish FM: Whole World Against US Embassy Move

    Associated Press Logo
    Associated Press
    0:54
  • a person posing for the camera: South Korea: 'Absolutely confident' about US

    South Korea: 'Absolutely confident' about US

    CNN Logo
    CNN
    6:56
  • Pennsylvania Rep. Daryl Metcalfe Tells Male Colleague, ‘I’m a heterosexual. Stop Touching Me’

    Pennsylvania Rep. Daryl Metcalfe Tells Male Colleague, ‘I’m a heterosexual. Stop Touching Me’

    Newsweek Logo
    Newsweek
    0:55
  • U.S. Embassy In Israel: President Trump's Controversial Jerusalem Move Explained

    U.S. Embassy In Israel: President Trump's Controversial Jerusalem Move Explained

    Newsweek Logo
    Newsweek
    1:13
  • a building with a mosque: Trump will recognise Jerusalem despite warnings

    Trump will recognise Jerusalem despite warnings

    Reuters America Logo
    Reuters America
    1:13
  • a man jumping in the air: Arab leaders condemn Trump's Jerusalem plan

    Arab leaders condemn Trump's Jerusalem plan

    CNN Logo
    CNN
    0:50
  • a man wearing a suit and tie: Could Pence be questioned in Russia probe?

    Could Pence be questioned in Russia probe?

    CNN Logo
    CNN
    2:01
  • a man in a suit standing in front of a building: Dispute over wedding cake for gay marriage goes all the way to U.S. Supreme Court

    Dispute over wedding cake for gay marriage goes all the way to U.S. Supreme Court

    NBC News Logo
    NBC News
    1:45
UP NEXT
UP NEXT
Video provided by Agence France-Presse

Elon Musk denies he created bitcoin

  Elon Musk denies he created bitcoin One of the biggest stories of 2017 has been the surge in the price of bitcoin, the cryptocurrency touted an alternative to gold and other investments. For years, many have wondered who the mysterious Satoshi Nakamoto, the creator of bitcoin, is.One person it's not? Elon Musk.One person it's not? Elon Musk.

An Incomplete History of Forks. Ethereum Classic Fork. One of the most illustrative forks of a crypto currency happened in 2016. The price is around 0. And just today I read that there was another fork — Bitcoin Diamond. I don’t know anything about it yet.

Sign up for our newsletter and receive the latest contents right into your inbox. We don't SPAM, we don't share your email and you can un-subscribe at any time with a single click.

Bitcoin hit news headlines this week as the price of one unit of the cryptocurrency passed $11,500 for the first time.

Although it’s often referred to as new, Bitcoin has existed since 2009 and the technology it is built on has roots going back even further. In fact if you had invested just $1,000 in Bitcoin the year it was first publicly available, you would now be richer to the tune of £36.7 million.

Those who don’t learn from history are doomed to repeat its mistakes – so here is a brief history of Bitcoin and cryptocurrency.

1998 – 2009 The pre-Bitcoin years

Although Bitcoin was the first established cryptocurrency, there had been previous attempts at creating online currencies with ledgers secured by encryption. Two examples of these were B-Money and Bit Gold, which were formulated but never fully developed.

Richard Spencer's white-nationalist nonprofit failed to file basic paperwork to keep fundraising

  Richard Spencer's white-nationalist nonprofit failed to file basic paperwork to keep fundraising Richard Spencer is one of the country's most prominent white nationalists. He's also a terrible bookkeeper. For the second time this year, the state officials in Virginia who regulate nonprofits have rebuked Spencer's far-right think tank for failing to register to solicit donations. Fundraising without such registration is illegal in Virginia. As of Thursday, Spencer's National Policy For the second time this year, the state officials in Virginia who regulate nonprofits have rebuked Spencer's far-right think tank for failing to register to solicit donations.

Everyone new to virtual currencies wants to know what mining is, how it’s done and whether or not it is profitable. As the top digital currency , Bitcoin is also the oldest: it has been around since 2009. In Bitcoin ’s case (as with other crypto currencies ), mining is a

Long story short , Bitcoin and cash are both stores of value, but it does not seem to be legit to compare them to one another. While you can exchange Bitcoin for fiat currency , everything should be okay. Public thinks that Bitcoin is blockchain and everything about crypto is only Bitcoin .

2008 – The Mysterious Mr Nakamoto

A paper called Bitcoin – A Peer to Peer Electronic Cash System was posted to a mailing list discussion on cryptography. It was posted by someone calling themselves Satoshi Nakamoto, whose real identity remains a mystery to this day.

a hand holding a cellphone: <span style=Photo by Chesnot/Getty Images" src="/upload/images/real/2017/12/06/a-hand-holding-a-cellphone-span-style-font-size-13px-photo-by-chesnot-getty-images-span__766756_.jpg" /> © Provided by Forbes Media LLC Photo by Chesnot/Getty Images 2009 – Bitcoin begins

The Bitcoin software is made available to the public for the first time and mining – the process through which new Bitcoins are created and transactions are recorded and verified on the blockchain – begins.

2010 – Bitcoin is valued for the first time

As it had never been traded, only mined, it was impossible to assign a monetary value to the units of the emerging cryptocurrency. In 2010, someone decided to sell theirs for the first time – swapping 10,000 of them for two pizzas. If the buyer had hung onto those Bitcoins, at today’s prices they would be worth more than $100 million.

Beware an economic boom. Really.

  Beware an economic boom. Really. <p>We don’t need an economic boom, but that’s what we may be getting. Since the 2016 election, the stock market is up roughly 24 percent, reports Wilshire Associates. The price of the cybercurrency bitcoin soared more than 1,000 percent before retreating. The unemployment rate of 4.1 percent is the lowest since 2000. The economy’s growth has exceeded an annual rate of 3 percentfor the past two quarters.</p>Anyone familiar with the post-World War II economy is bound to feel ambivalent about these dazzling developments. On the one hand, after so many years of disappointment following the Great Recession of 2007-2009, it’s nice to see the economy outperforming.

Bitcoin & Crypto - currencies . How I became involve. History has shown that currencies can fail and disappear. What makes you believe that you should trust one currency instead of another?

A short history of money. Money and Freedom. If you want to skip historical context that preceeded Bitcoin , feel free to start reading from The Dawn of Bitcoin . If you don’t care about history of Bitcoin and overview of other Crypto Currencies , skip to High level technical overview of Bitcoin .

2011 – Rival cryptocurrencies emerge

As Bitcoin increases in popularity and the idea of decentralized and encrypted currencies catch on, the first alternative cryptocurrencies appear. These are sometimes known as altcoin and generally try to improve on the original Bitcoin design by offering greater speed, anonymity or some other advantage. Among the first to emerge were Namecoin and Litecoin. Currently there are over 1,000 cryptocurrencies in circulation with new ones frequently appearing.

2013 – Bitcoin price crashes.

Shortly after the price of one Bitcoin reaches $1,000 for the first time, the price quickly begins to decline. Many who invested money at this point will have suffered losses as the price plummeted to around $300 – it would be more than two years before it reached $1,000 again.

2014 – Scams and theft

Perhaps unsurprisingly for a currency designed with anonymity and lack of control in mind, Bitcoin has proven to be an attractive and lucrative target for criminals. In January 2014, the world’s largest Bitcoin exchange Mt.Gox went offline, and the owners of 850,000Bitcoins never saw them again. Investigations are still trying to get to the bottom of exactly what happened but whatever the story, someone dishonestly got their hands on a haul which at the time was valued at $450 million dollars. At today’s prices, those missing coins would be worth $4.4 billion.

Venezuela plans its own version of bitcoin as debt crisis worsens

  Venezuela plans its own version of bitcoin as debt crisis worsens <p>The Venezuelan government's attempts to save the country's collapsing economy took a bizarre twist on Sunday.</p>President Nicolas Maduro announced plans to create a cryptocurrency, dubbed "the Petro," as a way to defeat the "financial blockade" imposed by U.S. sanctions on his regime.

The world of crypto currency is moving really fast. Over the past 5 years Bitcoin outperform any other investment like gold, stock market or real estate. Are you a short time trader or long term? Is it scam or should I invest in this crypto currency ? Have a nice day.

The legality on Bitcoin and other crypto currencies depends on where you are and what you wish to do with it. The German Federal Ministry of Finance further clarified their position by saying that Bitcoin should be treated as a unit of account and private money and should therefore be subject to

2016 – Ethereum and ICOs.

One cryptocurrency came close to stealing Bitcoin’s thunder this year, as enthusiasm grew around the Ethereum platform. This platform uses cryptocurrency known as Ether to facilitate blockchain-based smart contracts and apps.  Ethereum’s arrival was marked by the emergence of Initial Coin Offerings (ICOs). These are fundraising platforms which offer investors the chance to trade what are often essentially stocks or shares in startup ventures, in the same manner that they can invest and trade cryptocurrencies. In the US the SEC warned investors that due to the lack of oversight ICOs could easily be scams or ponzi schemes disguised as legitimate investments. The Chinese government went one further, by banning them outright.

2017 –Bitcoin reaches $10,000 and continues to grow

A gradual increase in the places where Bitcoin could be spent contributed to its continued growth in popularity, during a period where it’s value remained below previous peaks. Gradually as more and more uses emerged, it became clear that more money was flowing into the Bitcoin and cryptocoin ecosystem. During this period the market cap of all cryptocoins rose from $11bn to its current height of over $300bn. Banks including Barclays, Citi Bank, Deutsche Bankand BNP Paribas have said they are investigating ways they might be able to work with Bitcoin. Meanwhile the technology behind Bitcoin – blockchain – has sparked a revolution in the fintech industry (and beyond) which is only just getting started.

Whatever your opinion on Bitcoin and cryptocurrency – and educated commenters have described them as everything from the future of money to an outright scam – it seems they are here to stay. Will it succeed in doing what many early adopters and evangelists claim it is destined to – replace government-controlled, centralised money with a distributed and decentralized alternative, controlled by nothing besides market forces? Well, 2018 may yield some clues but we are unlikely to know the answer for some time yet.

Bernard Marr, Contributor

Google's top searches for 2017: Matt Lauer, Hurricane Irma and more .
The year was dominated by searches related to sexual harassment, politics, hurricanes and a baby giraffe.Google's annual list of the most popular searches is here, offering a peek into what people are really thinking about. Like 2017 itself, this year's top searches skew a little darker than usual, but are punctuated with some whimsy and positive moments.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!