BITCOIN TIMELINE:
-2007 – SATOSHI NAKAMOTO
According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective pseudonym for more than one person. JAPANESE TRANSLATION FOR SAKOSHI NAKAMOTO: CENTRAL INTELLIGENCE: CIA PROJECT?
-AUG 15TH 2008
Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application. All three individuals deny a connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept.
-AUG 18TH 2008
Bitcoin.org is born! The domain was registered at anonymousspeech.com, a site that allows users to anonymously register domain names and currently accepts Bitcoins.
NOVEMBER 28, 2012
Halving day! The first ever (block 210,00) is the first ever created, halving from 50 coins per 10 minutes block down to 25 coins per 10 minutes block.
FEBRUARY 22, 2013
Bitcoin starts to rise in price reaching $30 USD for the first time since 2011.
MARCH 28, 2013
Market cap reaches $1billion, then surpasses the $100 mark at the start of April then spiking up to a high of $266 on April 10th, up from $13 from the year before. The price then crashed down to $110 shortly after on April 20th. This was a few months before the Cyprus banking crisis
NOVEMBER 17TH, 2013
Bitcoin doubles in value reaching $503 - shortly passing $1250 (after senate hearings the next day). Bitcoin was Moving more money than western union, closely behind PayPal.
Bitcoin is an open peer-to-peer network source, which is open for everybody to see. Only 21 million bitcoins can come into circulation with there being a ‘bitcoin halving’ every 210,000 blocks
Currently there are 25 coins generated by the system every ten minutes (25 coins is a block). www.bitcoinblockhalf.com
Fact 1: The supply of Bitcoin is increasing at a decreasing rate! We are currently sitting at 14.8 Million bitcoins, which have a $381 USD value ($5.6Billion dollar market cap). We know the block will be cut from 25 to 12.5 in July 2016!
Fact 2: The demand for Bitcoin in the last few years has increased due to humanities awakening behind the monetary system and how fractional reserve banking works. As education spreads, so does the awareness! Bitcoin is now becoming much more popular as big online retailers etc. accept the payment of bitcoin.
Taking the general law of supply and demand into consideration; If the value of bitcoin has risen by over 11000% + at a time when the supply was at its greatest and demand was at its lowest (November 2012) then the value of Bitcoin would continue to rise faster in the future
Bitcoin is a piece of ‘Disruptive Innovation’ this is defined as an innovation that helps create a new market and value network, which later goes on to disrupt an existing network (over a few years or decades, displacing earlier technology
-2007 – SATOSHI NAKAMOTO
According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective pseudonym for more than one person. JAPANESE TRANSLATION FOR SAKOSHI NAKAMOTO: CENTRAL INTELLIGENCE: CIA PROJECT?
-AUG 15TH 2008
Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application. All three individuals deny a connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept.
-AUG 18TH 2008
Bitcoin.org is born! The domain was registered at anonymousspeech.com, a site that allows users to anonymously register domain names and currently accepts Bitcoins.
NOVEMBER 28, 2012
Halving day! The first ever (block 210,00) is the first ever created, halving from 50 coins per 10 minutes block down to 25 coins per 10 minutes block.
FEBRUARY 22, 2013
Bitcoin starts to rise in price reaching $30 USD for the first time since 2011.
MARCH 28, 2013
Market cap reaches $1billion, then surpasses the $100 mark at the start of April then spiking up to a high of $266 on April 10th, up from $13 from the year before. The price then crashed down to $110 shortly after on April 20th. This was a few months before the Cyprus banking crisis
NOVEMBER 17TH, 2013
Bitcoin doubles in value reaching $503 - shortly passing $1250 (after senate hearings the next day). Bitcoin was Moving more money than western union, closely behind PayPal.
Bitcoin is an open peer-to-peer network source, which is open for everybody to see. Only 21 million bitcoins can come into circulation with there being a ‘bitcoin halving’ every 210,000 blocks
Currently there are 25 coins generated by the system every ten minutes (25 coins is a block). www.bitcoinblockhalf.com
Fact 1: The supply of Bitcoin is increasing at a decreasing rate! We are currently sitting at 14.8 Million bitcoins, which have a $381 USD value ($5.6Billion dollar market cap). We know the block will be cut from 25 to 12.5 in July 2016!
Fact 2: The demand for Bitcoin in the last few years has increased due to humanities awakening behind the monetary system and how fractional reserve banking works. As education spreads, so does the awareness! Bitcoin is now becoming much more popular as big online retailers etc. accept the payment of bitcoin.
Taking the general law of supply and demand into consideration; If the value of bitcoin has risen by over 11000% + at a time when the supply was at its greatest and demand was at its lowest (November 2012) then the value of Bitcoin would continue to rise faster in the future
Bitcoin is a piece of ‘Disruptive Innovation’ this is defined as an innovation that helps create a new market and value network, which later goes on to disrupt an existing network (over a few years or decades, displacing earlier technology