Let me talk about the history of cryptocurrencies.
1998–2009
There have been attempts to use encryption technology to protect the online currency of the ledger. Two examples are B-Money and Bit Gold. These are all customized, but they have never been developed.
In 2008
A man named Nakamoto issued an article called Bitcoin. Nakamoto’s identity has always been a mystery.
In 2009
Bitcoin was open to the public for the first time and began mining, mining the Bitcoin process and recording and verifying the beginning of transactions in the blockchain.
In 2010
This is Bitcoin’s first transaction, thinking that the player who holds the BTC for the first time will replace one of the 10,000 BTCs with two pizzas. At today’s prices, their value will exceed 100 million U.S. dollars. With the increasing popularity of Bitcoin, various cryptocurrencies have begun to be released. They have attempted to change the design of the original Bitcoin by increasing their speed, anonymity and again. The earliest names were Namecoin and Litecoin. According to the data of the website citicoins, there are more than 1,500 cryptocurrencies issued on the market.
In 2013
The price of Bitcoin plummeted, and soon after Bitcoin reached 1,000 US dollars for the first time, its price began to decline rapidly. Many people investing at this point will suffer a great loss because the price has plummeted to 300 US dollars, but its price once again reached 1,000 US dollars in more than two years.
In 2014
Any valuable thing will inevitably attract a thief. Bitcoin has long been a target for criminals. In January 2014, the world’s largest Bitcoin exchange, Mt.Gox, went offline, and the owner of 850,000 Bitcoin never appeared again. We are still investigating what actually happened, but in any case, it was a loss of 450 million U.S. dollars.
In 2016
With the development of Ethereum, a cryptocurrency has been close to replacing Bitcoin. The platform uses Ether’s cryptocurrency to facilitate blockchain-based contract-only applications. The arrival of Ethereum marked the emergence of ICO.
In 2017
Places where Bitcoin can be consumed are gradually increasing. While the popularity continues to grow, more and more money is flowing into Bitcoin’s ecosystem. Bitcoin amounts to US$20,000. During this period, the market value of all cryptocurrencies rose from 11 billion U.S. dollars to more than 300 billion U.S. dollars today.
In 2018
At the beginning of the year Bitcoin dropped to $10,000 and then began to rebound.