Ever since bitcoin was created by Satoshi Nakamoto, there have been so many great moments to be experienced in the cryptocurrency world. Several of these milestones have determined the future of bitcoin as we know it today. Although bitcoin has a bit of a colorful past – to say the least – one cannot deny the resilience of this currency. In fact, it only makes the future of bitcoin even more exciting.
Over the past few years, quite a few large companies have started to accept bitcoin payments. Overstock Gyft, Expedia, and Microsoft are just some of the enterprises who feel that accepting bitcoin payments is the right decision. What is even more impressive is how this list of companies continues to grow every quarter. Although bitcoin is far from reaching “mainstream” levels, having major companies back cryptocurrency payments is a significant step in the right direction.
It is impossible to talk about how far bitcoin has come and not mention the Mt. Gox exchange. Albeit very few people will be happy to think back to that fatal day February of 2014, it is an integral part of cryptocurrency history. People finally started to take bitcoin seriously right before the collapse and it has taken a few years to restore the damage done by this now defunct exchange.
Discussions about the Silk Road marketplace often result in heated debates. Back in 2011, the platform opened its doors as a way to promote the use of bitcoin for payment purposes. Unfortunately, Silk Road gained notoriety due to its affiliation with drug and arms dealing. Platform owner Ross Ulbricht was sentenced to life in prison for operating this platform over the years of its existence.
Silk Road was eventually shut down in October of 2013, which also brought a halt to bitcoin’s popularity for a while. Followed shortly afterward by the earlier mentioned Mt. Gox collapse, things were looking very bleak for bitcoin all of a sudden. However, the resilient cryptocurrency – and its community – bounced back shortly after. Ross Ulbricht and Silk Road will forever be a part of bitcoin’s history.
Even though bitcoin was introduced to the world in 2009, it took until May 2010 until the first-ever official purchase is recorded. Laszlo Hanyecz paid 10,000 bitcoin – worth next to nothing at the time – to someone who would order two pizzas and have them delivered to his home. It was the first-ever official purchase paid for in bitcoin. Every day, cryptocurrency enthusiasts all over the world come together to celebrate Bitcoin Pizza Day on May 22nd. Takeaway.com, a popular platform to order food online – including pizza – started accepting bitcoin payments a few years ago.
One cannot discuss the history of bitcoin without mentioning how it all began. Satoshi Nakamoto released bitcoin to the world In January of 2009, when the genesis block was mined. Just nine days after, the world’s first bitcoin transaction was publicly recorded. Satoshi Nakamoto sent Hal Finney a small amount of bitcoin to test if the system worked as intended. A lot of things have changed since January 2009, that much is certain.
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