History of Bitcoin---> The world's first decentralized currency. (Part 3- Year 2011 Jan-June)

in bitcoin •  7 years ago 

Hope You all have read the first two part of the series History of BitCoin--> The world's first decentralized currency.

2011, Silk Road, a Bitcoin marketplace, launches an illicit marketplace for drug deals, called the eBay for drugs.

January 2, 2011, Tonal Bitcoin, designed for those who prefer the Tonal number system, standardizes its units.

January 8, 2011, Bitcoin Pooled Mining achieves a total of 10,000 Mhash/s.

January 27, 2011, The largest Bitcoin trade to date occurs on #bitcoin-otc: Three Zimdollars (Zimbabwe notes that are worth one-hundred trillion dollars each) are traded for 12 BTC.

January 28, 2011, 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 touches US$1.00/BTC at MtGox, reaches parity with the US dollar for the first time.

February 10, 2011, Following coverage of US$/BTC parity being reached on Slashdot and Hacker News, along with buzz on Twitter, the Bitcoin.org website struggles under increased traffic.

February 14, 2011, An Australian member of the Bitcoin Forum attempts to sell his 1984 Celica Supra for 3000 BTC and becomes the first person to offer a vehicle in exchange for Bitcoins.

February 25, 2011, WeUseCoins.com is registered and built into a Bitcoin resource and creates one of the most watched videos on Bitcoin.

March 2011, A major update to the Bitcoin Market website reduces the minimum trade size, permits trading 24x7, and helps to ensure that payments are made for executed trades.

March 6, 2011, Jed McCaleb sells MtGox to Japan’s Tibanne Company. A new high of nearly 900Ghash/sec total Bitcoin network computation speed is reached. Shortly thereafter, it drops to 500Ghash/sec. It is speculated that the reduction is the result of a supercomputer or bot-net joining the network.
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March 18, 2011, A six-week low of nearly US$0.70/BTC exchange rate is reached after a decline following the US$1.00/BTC high on February 9 and a short burst of sales of Bitcoin at lower prices (that may have been automated).

March 25, 2011, The second, and largest, decrease in difficulty is recorded at nearly 10 percent.

March 27, 2011, Britcoin opens and becomes the first market for the exchange of Bitcoins and the British Pound Sterling (GBP)

March 31, 2011, Bitcoin Brasil opens and becomes the first market for the exchange of Bitcoins and Brazilian Reals.

April 5, 2011, BitMarket.eu opens and becomes the first market for the exchange of Bitcoins and the Polish złoty, the Euro, and several other currencies.
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April 12, 2011, The first Bitcoin put option contract is sold on #bitcoin-otc.

April 16, 2011, TIME magazine publishes an article about Bitcoin, Online Cash Bitcoin Could Challenge Governments, Banks.

April 23, 2011, On MtGox, the BTC/USD exchange rate reaches and passes parity with the Euro and the British Sterling Pound. The value of Bitcoin money stock passes US$10 million.

April 27, 2011, VirWoX begins trading Bitcoins against Second Life Lindens and becomes the first market to trade Bitcoins against a virtual currency.
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April 30, 2011, The Bitcoin generation difficulty surpasses 100,000.

June 2, 2011, At MtGox, the exchange rate touches US$10 per BTC.

June 3, 2011, Tonal Bitcoin touches US$0.01 per TBC at Bitcoin Market, reaching parity with the U.S. cent for the first time.

June 4, 2011, Bitcoin Market discontinues PayPal trading due to fraud.

June 8, 2011, The price of a Bitcoin on MtGox reaches an all-time high of US$31.91 with a market capitalization of around US$206 million.

June 12, 2011, In the largest percentage price decrease to-date, the MtGox Bitcoin exchange rate plummeted to nearly US$10, just four days after its peak at US$31.91. The incident became known as the Great Bubble of 2011.

June 13, 2011, Bitcoin Forum member, allinvain, claims that 25,000 BTC were stolen from his wallet. At the time, the exchange rate put the amount close to US$375,000.

June 14, 2011, WikiLeaks begins accepting anonymous Bitcoin donations.
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June 19, 2011, MtGox suffers a significant breach of security that results in fraudulent trading and requires the site to be shut down for seven days. The breach compromises the MtGox database with a leak of the user table that contains user names, email addresses, and password hashes of 60,000 accounts.

An admin account was accessed from which sell orders were issued for hundreds of thousands of Bitcoins, which forced the MtGox price down to US$17.51 to US$0.01 per Bitcoin.

June 19, 2011, Trading halts at TradeHill and Britcoin while security measures are reviewed. Users that were registered at MyBitcoin with the same username as on MtGox had their passwords hacked and balances stolen from around 600 MyBitcoin accounts, with one user losing more than 2,000 BTC.

June 20, 2011, The Electronic Frontier Foundation (EFF) discontinues the acceptance of donations in the form of Bitcoins for reasons of legal uncertainties.

June 24, 2011, With Block 133056, the Bitcoin generation difficulty passes 1 million for the first time.

June 29, 2011, BitPay launches as the first smartphone e-wallet for Bitcoins.

Thanks for reading!

Stay tuned for further updates on the series.

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