Flipbook bitcoin Digital Media Theory-Albert Winters

Bitcoin: A Brief History

August 2008: Bitcoin.org registered

January 2009: Version 0.1 of Bitcoin is released with limited interface

A few days later the first Bitcoin transaction occurs between Bitcoin creator Satoshi Nakamoto and a

software developer

October 2009: New Liberty Standard creates a Bitcoin exchange rate

February 2010: First Bitcoin Market is established to exchange Bitcoin for other currencies

May 2010: A Florida Programmer makes the first ever purchase using Bitcoins. He buys a pizza for 10,000 Bitcoins (Value at the

time was 25 Dollars)

July 2010: Bitcoin value increases tenfold in a matter of days. It goes from $0.008 per Bitcoin to $0.80

A few days later MtGox is established. It has become the preeminent Bitcoin exchange

In 2011 the Silk Road launches. It is a website where users can buy illicit drugs with anonymity thanks to Bitcoin

February 2011: Bitcoin reaches same price as US Dollar

June 2011: Biggest security breach in Bitcoin history as hackers break into MtGox database and change Bitcoin prices forcing the

market to shut down for a few days

June 29 2011: First Bitcoin wallet for smartphones is launched

August 2011: MyBitcoin, an exchange, is hacked for 2 million dollars worth of Bitcoins

December 2012: European Bitcoin Exchange Bitcoin Central becomes first exchange to be licensed as a bank

February 2013: Bitcoin trades at 30$ for the first time since a price bubble in mid 2011

March 2013: US Treasury department defines its stance on Bitcoin

March 2013: Bitcoin Market Cap hits 1 Billion Dollars

April 2013: Bitcoin bubbles up to being worth US$ 266 per BTC before crashing and stabilizing at around 100 US dollars

May 2013: First Bitcoin ATM unveiled in San Diego

3 Million Dollars seized from a MtGox subsidiary by Homeland Security for not registering as a money transmitting business

Winkelvoss Twins file Bitcoin Trust with SEC to make investment into Bitcoin easier

November 2013: Senate hearing held to discuss the legitimization of Bitcoin which leads to the price to surge to over 1000 US

dollars per Bitcoin

China’s Central Bank bans Bitcoin transactions becoming the first nation to make major restrictions on Bitcoin trade

Sources

• http://www.theguardian.com/technology/2014/mar/18/history-of-bitcoin-hacks-alternative-currency

• http://historyofbitcoin.org/• http://blockchain.info/charts/market-price