what is bitcoin
Bitcoin is the world’s first cryptocurrency. It was invented by Satoshi Nakamoto in 2009. Using Bitcoin, people can now transfer money anywhere in the world for cheap without needing to trust any third party.
Bitcoin is not illegal in India.
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries
Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009.Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, thefts from exchanges, and the possibility that bitcoin is an economic bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
Bitcoin is not illegal in India.
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries
Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009.Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, thefts from exchanges, and the possibility that bitcoin is an economic bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
bitcoin HISTORY
2007
Satoshi Nakamoto… the legend.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.
October 31, 2008
The white paper is published.
Nakamoto publishes a design paper through a metzdowd.com cryptography mailing list that describes the Bitcoin currency and solves the problem of double spending so as to prevent the currency from being copied.
January 3, 2009
The Genesis Block is mined.
Block 0, the genesis block, is established at 18:15:05 GMT.
January 12, 2009
The first Bitcoin transaction.
The first transaction of Bitcoin currency, in block 170, takes place between Satoshi and Hal Finney, a developer and cryptographic activist.
October 5, 2009
An exchange rate is established.
New Liberty Standard publishes a Bitcoin exchange rate that establishes the value of a Bitcoin at US$1 = 1,309.03 BTC, using an equation that includes the cost of electricity to run a computer that generated Bitcoins.
May 22, 2010
10,000 BTC spent on pizza.
The first, real-world transaction using Bitcoins takes place when a Jacksonville, Florida programmer, Laszlo Hanyecz, offers to pay 10,000 Bitcoins for a pizza on the Bitcoin Forum. At the time, the exchange rate put the purchase price for the pizza
July 12, 2010
Bitcoin value increases tenfold.
Over a five day period beginning on July 12, the exchange value of Bitcoin increases ten times from US$0.008/BTC to US$0.080/BTC.
November 6, 2010
Market cap exceeds $1 million USD.
Calculated by multiplying the number of Bitcoins in circulation by the last trade on MtGox, the Bitcoin economy exceeds US$1 million. The price on MtGox reached US$0.50/BTC.
January 28, 2011
25% of total Bitcoins generated.
With the generation of Block 105000, 5.25 million Bitcoins have been generated, totalling more than 25 percent of the projected total of almost 21 million.
February 9, 2011
Bitcoin reaches parity with US dollar.
Bitcoin touches US$1.00/BTC at MtGox, reaches parity with the US dollar for the first time.
August 20, 2011
Bitcoin Conference and World Expo.
The first Bitcoin Conference and World Expo was held in New York City, NY.
December 20, 2012
Buysellbitco.in is launched.
Mahin Gupta launches India’s first Bitcoin Exchange.
March 28, 2013
Market cap reaches $1 billion.
The total Bitcoin market cap passes US$1 billion.
May 2, 2013
First Bitcoin ATM unveiled.
The first Bitcoin ATM in the world is debuted in San Diego, California.
November 19, 2013
Bitcoin goes above $1000.
Bitcoin price surges to a record of US$1242 after Senate hearings.
November 19, 2013
Bitcoin moves more money than Western Union.
Bitcoin transaction volume surpasses Western Union.
November 22, 2013
Space travel becomes possible with Bitcoin.
Richard Branson’s Virgin Galactic begins accepting Bitcoin for space travel.
January 9, 2014
Overstock accepts bitcoin.
May 8, 2014
Federal Election Commission approves bitcoin donations to political committees.
September 23, 2014
PayPal starts accepting bitcoin payments for merchants.
October 31, 2014
Zebpay launches a simple bitcoin wallet with a mission to spread bitcoins to billions.
December 11, 2014
Microsoft announces that it will accept bitcoin on its platform.
March, 2015
Japanese e-commerce giant Rakuten Inc. accepts Bitcoin payments.
April, 2015
Rand Paul became first Presidential Candidate to accept Bitcoin.
May, 2015
First regulated bitcoin-based security began trading in Stockholm.
August, 2015
On August 8 2015, BitLicense came into effect in New York.
September, 2015
Bitcoin is a Commodity according to The Commodity Futures Trading Commission.
November, 2015
The mysterious creator of bitcoin has been nominated for the Nobel Prize in Economics.
April, 2016
You can now buy games on Steam using Bitcoin.
June, 2016
Bitcoin hits two-year high ahead of key event trading at $703.
October, 2016
Swiss railway ticket machines to sell Bitcoin digital currency.
December, 2016
Bitcoin enjoys end of year price surge has hit a three-year high with each one now worth about $900.
January 2, 2017
Bitcoin tops $1,000 for first time in three years as 2017 trading begins.
March 1, 2017
Value of 1 bitcoin surpassed the spot price of an ounce of gold for the first time.
April 1, 2017
Japan passed a law to accept bitcoin as a legal payment method.
May 20, 2017
The price of one Bitcoin passed $2,000 for the first time.
June, 2017
The bitcoin symbol ฿ was encoded in Unicode version 10.0 at position U+20BF.
June 12, 2017
Reached an all-time high of $3,000.
August 1, 2017
Bitcoin Cash is born. Bitcoin crosses $4000.
August 15, 2017
Blockstream launches Bitcoin Satellite helping broadcast bitcoin from space.
August 23, 2017
Segwit activates on Bitcoin.
October 30, 2017
CBOE and CME decide to launch Bitcoin Futures, price crosses $6000.
November 28, 2017
Bitcoin hits $10,000 for the very first time, 10x since starting the year at $1000.
December 18, 2017
CME futures open at $20,000 on the first day of trading. Hits $20,000 on spot markets in some Asian countries.
learn & know more about bitcoin & crypto currency updated price rate here ,Download this app
Satoshi Nakamoto… the legend.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.
October 31, 2008
The white paper is published.
Nakamoto publishes a design paper through a metzdowd.com cryptography mailing list that describes the Bitcoin currency and solves the problem of double spending so as to prevent the currency from being copied.
January 3, 2009
The Genesis Block is mined.
Block 0, the genesis block, is established at 18:15:05 GMT.
January 12, 2009
The first Bitcoin transaction.
The first transaction of Bitcoin currency, in block 170, takes place between Satoshi and Hal Finney, a developer and cryptographic activist.
October 5, 2009
An exchange rate is established.
New Liberty Standard publishes a Bitcoin exchange rate that establishes the value of a Bitcoin at US$1 = 1,309.03 BTC, using an equation that includes the cost of electricity to run a computer that generated Bitcoins.
May 22, 2010
10,000 BTC spent on pizza.
The first, real-world transaction using Bitcoins takes place when a Jacksonville, Florida programmer, Laszlo Hanyecz, offers to pay 10,000 Bitcoins for a pizza on the Bitcoin Forum. At the time, the exchange rate put the purchase price for the pizza
July 12, 2010
Bitcoin value increases tenfold.
Over a five day period beginning on July 12, the exchange value of Bitcoin increases ten times from US$0.008/BTC to US$0.080/BTC.
November 6, 2010
Market cap exceeds $1 million USD.
Calculated by multiplying the number of Bitcoins in circulation by the last trade on MtGox, the Bitcoin economy exceeds US$1 million. The price on MtGox reached US$0.50/BTC.
January 28, 2011
25% of total Bitcoins generated.
With the generation of Block 105000, 5.25 million Bitcoins have been generated, totalling more than 25 percent of the projected total of almost 21 million.
February 9, 2011
Bitcoin reaches parity with US dollar.
Bitcoin touches US$1.00/BTC at MtGox, reaches parity with the US dollar for the first time.
August 20, 2011
Bitcoin Conference and World Expo.
The first Bitcoin Conference and World Expo was held in New York City, NY.
December 20, 2012
Buysellbitco.in is launched.
Mahin Gupta launches India’s first Bitcoin Exchange.
March 28, 2013
Market cap reaches $1 billion.
The total Bitcoin market cap passes US$1 billion.
May 2, 2013
First Bitcoin ATM unveiled.
The first Bitcoin ATM in the world is debuted in San Diego, California.
November 19, 2013
Bitcoin goes above $1000.
Bitcoin price surges to a record of US$1242 after Senate hearings.
November 19, 2013
Bitcoin moves more money than Western Union.
Bitcoin transaction volume surpasses Western Union.
November 22, 2013
Space travel becomes possible with Bitcoin.
Richard Branson’s Virgin Galactic begins accepting Bitcoin for space travel.
January 9, 2014
Overstock accepts bitcoin.
May 8, 2014
Federal Election Commission approves bitcoin donations to political committees.
September 23, 2014
PayPal starts accepting bitcoin payments for merchants.
October 31, 2014
Zebpay launches a simple bitcoin wallet with a mission to spread bitcoins to billions.
December 11, 2014
Microsoft announces that it will accept bitcoin on its platform.
March, 2015
Japanese e-commerce giant Rakuten Inc. accepts Bitcoin payments.
April, 2015
Rand Paul became first Presidential Candidate to accept Bitcoin.
May, 2015
First regulated bitcoin-based security began trading in Stockholm.
August, 2015
On August 8 2015, BitLicense came into effect in New York.
September, 2015
Bitcoin is a Commodity according to The Commodity Futures Trading Commission.
November, 2015
The mysterious creator of bitcoin has been nominated for the Nobel Prize in Economics.
April, 2016
You can now buy games on Steam using Bitcoin.
June, 2016
Bitcoin hits two-year high ahead of key event trading at $703.
October, 2016
Swiss railway ticket machines to sell Bitcoin digital currency.
December, 2016
Bitcoin enjoys end of year price surge has hit a three-year high with each one now worth about $900.
January 2, 2017
Bitcoin tops $1,000 for first time in three years as 2017 trading begins.
March 1, 2017
Value of 1 bitcoin surpassed the spot price of an ounce of gold for the first time.
April 1, 2017
Japan passed a law to accept bitcoin as a legal payment method.
May 20, 2017
The price of one Bitcoin passed $2,000 for the first time.
June, 2017
The bitcoin symbol ฿ was encoded in Unicode version 10.0 at position U+20BF.
June 12, 2017
Reached an all-time high of $3,000.
August 1, 2017
Bitcoin Cash is born. Bitcoin crosses $4000.
August 15, 2017
Blockstream launches Bitcoin Satellite helping broadcast bitcoin from space.
August 23, 2017
Segwit activates on Bitcoin.
October 30, 2017
CBOE and CME decide to launch Bitcoin Futures, price crosses $6000.
November 28, 2017
Bitcoin hits $10,000 for the very first time, 10x since starting the year at $1000.
December 18, 2017
CME futures open at $20,000 on the first day of trading. Hits $20,000 on spot markets in some Asian countries.
learn & know more about bitcoin & crypto currency updated price rate here ,Download this app