History of bitcoin Part #1 2009 - 2015

in writing •  8 years ago 

 

 This is a development of the current bitcoin I show to you in the form of Chart

Source http://bitcoincharts.com

Bitcoin XT Fork Released — 2015-08-15

  • Price: $267.24
  • Price 10 days later: $214.30

Bitcoin  Core developers Mike Hearn and Gavin Andresen released a separate  version of the Bitcoin client software, called Bitcoin XT. The release  illustrates an ongoing controversy in the Bitcoin development community:  what limit should be placed on the size of Bitcoin’s blocks? Bitcoin XT  implements BIP  101, which proposes “replacing the fixed one megabyte maximum block  size with a maximum size that grows over time at a predictable rate”.The  release of Bitcoin XT culminated fears that the Bitcoin community may  not be able to reach a consensus on the issue, and the blockchain may  hard fork, resulting in two separate versions of Bitcoin’s global  ledger.

Sources

Mark Karpeles Arrested — 2015-08-01

  • Price: $283.04
  • Price 10 days later: $267.19

Mark Karpeles, the CEO of the failed Bitcoin exchange Mt. Gox,  was arrested in Japan on charges of fraud and embezzlement in relation  to collapse of the exchange. Karpeles faces allegations of illegally  manipulating trade volume and the personal use of client deposits, of  which may have led to the exchange’s insolvency. Mt. Gox is thought to have ultimately lost 744,400 Bitcoins of customer deposits.

Sources

2 Federal Agents Plead Guilty to Silk Road Theft — 2015-07-01

  • Price: $260.73
  • Price 10 days later: $291.66

Former  Federal agents Carl Force IV (DEA) and Shaun Bridges (Secret Service)  pleaded guilty to stealing Bitcoins for their personal gain during their  active investigation of the Silk Road marketplace.Force was  charged with “extorting Ulbricht, as well as wire fraud, theft of  government property, money laundering, and conflict of interest” in his  role in siphoning off $50,000 worth of Bitcoin from the Silk Road into  his own personal accounts. Bridges is charged with money laundering and  obstruction of justice for stealing $820,000 worth of Bitcoin in a  similar manner.Force agreed to pay $500,000 in restitution and  was later sentenced to 6 years in prison in October 2015. Bridges is  awaiting sentencing in December 2015.

Sources

New York State Releases the BitLicense — 2015-06-03

  • Price: $226.90
  • Price 10 days later: $232.05

Superintendent  of New York State Department of Financial Services, Benjamin Lawsky,  released a set of customized rules meant to regulate Bitcoin and digital  currency businesses that serve customers located in New York state.  These regulations are the first ever directly targeted at digital  currency businesses.According to the regulations, digital  currency companies that serve NY customers must apply for a “BitLicense”  within 45 days or be considered in “breach of the law”. A BitLicense  application costs $5,000 and the regulations include a number business  requirements, such as fingerprinting employees for the FBI, obtaining  written approval of all new business activities, and retained “earnings  and profits of the company can only be invested in US dollars”.In  response, New York based customers were banned and expunged by a number  of Bitcoin companies, including Bitfinex, Kraken, Bitquick.co, and  ShapeShift.

Sources

Ross Ulbricht Sentenced to Life in Prison — 2015-05-19

  • Price: $234.31
  • Price 10 days later: $238.22

After  a month-long jury trial that ended in Ulbricht’s conviction, Judge  Katherine Forrest sentenced Ulbricht to life in prison without parole.  Ulbricht had been found guilty on 7 charges of money laundering,  computer hacking, and conspiracy to traffic narcotics in February due to  his role as the operator of the Silk Road marketplace (a.k.a “Dread  Pirate Roberts”). In a letter to Judge Katherine Forrest prior to his  sentencing, Ulbricht admitted to running the Silk Road and made a plea  for leniency. The judge’s sentencing statement hinted that the harshness  of the sentence was to make an example of Ulbricht: members of the  public considering following in his footsteps should know “that if you  break the law this way, there will be very serious consequences.”Ross Ulbricht would later appeal the ruling on June 5, 2015.

Sources

Coinbase Launches US Licensed Exchange — 2015-01-26

  • Price: $281.26
  • Price 10 days later: $222.85

The  VC backed startup Coinbase Inc., a popular Bitcoin outlet and payment  processor, announced the release of its own Bitcoin trading platform.  The company founders stated they had worked for months to obtain various  licenses from state financial regulators, allowing them to legally  accept customers from 25 different US states.The new platform  will operate like a traditional exchange: customers can deposit funds,  place asks and bids on an order book, and will be charged a small  percentage fee on executed trades. The exchange platform is to remain  separate from their Bitcoin outlet operation, which in contrast, allows  customers to buy and sell Bitcoins directly from Coinbase.

Sources

Bitstamp Hacked — 2015-01-04

  • Price: $275.07
  • Price 10 days later: $198.59

Unknown  hackers were able to steal 18,866 bitcoins from Bitstamp’s operational  hot wallet, worth roughly $5.2 million dollars. The attackers used  social engineering against Bitstamp system administrator Luka Kodric to  gain access to 2 of Bitstamp’s servers and subsequently the hot wallet’s  private keys. The wallet was completely drained of all bitcoins shortly  thereafter.Upon discovery of the breach, Bitstamp immediately  shutdown the exchange’s operations for 8 days as it audited its systems  and rebuilt its trading platform.The theft represented “a small  fraction of Bitstamp’s total bitcoin reserves” as the majority of the  company’s Bitcoin funds remained untouched in offline “cold” storage. No  customer account balances were affected. However, according to a leaked  internal Bitstamp report on the incident, the damage to the company’s  reputation and customer confidence far exceeded its monetary Bitcoin  loss.

Sources

Charlie Shrem Sentenced to 2 Years in Prison — 2014-12-19

  • Price: $313.38
  • Price 10 days later: $317.06

Labeled  Bitcoin’s “First Felon”, Charlie Shrem, the CEO of bitcoin exchange  BitInstant, was sentenced to 2 years in prison for his role in  laundering money for users of the Silk Road, an online marketplace that  catered to illicit goods and services.Shrem had entered a plea  bargain which involved surrendering $950,000 to the US government and  pleading guilty to aiding and abetting the operation of an unlicensed  money transmitting business.

Sources

Microsoft Accepts Bitcoin — 2014-12-11

  • Price: $352.56
  • Price 10 days later: $324.87

Microsoft  revealed it will accept Bitcoin from US customers for “apps, games and  other digital content” offered on the Windows and Xbox online stores.  The announcement was made via a post on the tech giant’s blog and stated  that Microsoft had partnered with Bitpay for Bitcoin payment  processing.

Sources

The Slaying of BearWhale — 2014-10-06

  • Price: $323.47
  • Price 10 days later: $387.40

An  unknown trader places nearly 30,000 BTC for sale on the Bitstamp  exchange at a limit price of $300 per bitcoin, worth roughly $9 million  USD. The order was dubbed the “BearWhale” by the Bitcoin community due  to its unprecedented size.Over the next 24 hours, the entire BearWhale order is fulfilled on the exchange via buy orders.

Sources

Paypal Subsidiary Braintree to Accept Bitcoin — 2014-09-08

  • Price: $473.02
  • Price 10 days later: $439.52

Braintree,  a subsidiary of Paypal, announces that it is partnering with Coinbase  to accept Bitcoin payments on their platform. Over the next three  months, the two companies will work on integrating Bitcoin payment  processing for Braintree merchants. The Bitcoin payment option will be  seamlessly enabled for all merchants on the platform. Braintree  merchants need only sign up for a Coinbase account and link it to their  Braintree account.The news adds to speculation that Paypal is  becoming more favorable towards Bitcoin, and may eventually integrate it  into their own payment processing system.

Sources

Dell Accepts Bitcoin — 2014-07-18

  • Price: $624.10
  • Price 10 days later: $582.88

Founder  Michael Dell announces on Twitter that dell.com now accepts Bitcoin.  Customers in the United States (only) can purchase any product listed on  Dell’s online marketplace using Bitcoin. All Bitcoin transactions are  to be handled by Coinbase, a Bitcoin payment processor. At a yearly  revenue of $56 billion, Dell becomes the largest company to accept  Bitcoin.This announcement follows a number of other major online  retailers’ acceptance of Bitcoin payments in 2014 (Overstock on  2014-01-09 via processor Coinbase, Tiger Direct on 2014-01-23, and  Newegg on 2014-07-01 via processor Bitpay).

Sources

New York DFS Releases Proposed “BitLicense” — 2014-07-17

  • Price: $619.90
  • Price 10 days later: $595.49

Benjamin  M. Lawsky, Superintendent of New York’s Department of Financial  Services, announces a proposed set of regulations for businesses that  interact with Bitcoin and cryptocurrencies. The goal of the new  regulations, according to Lawsky, are to help “protect consumers and  root out illegal activity – without stifling beneficial innovation”. The  regulations would require entities that deal in Bitcoin to run  background checks/fingerprints for all employees, get written approval  for new business activities by the state, and to immediately convert any  Bitcoin profit to US dollars. Affected entities would be exchanges,  mining pools, bulk Bitcoin sellers, and altcoin  software creators based in New York state, or that have customers in  New York state. News of these regulations are generally rebuked by the  cryptocurrency community.

Sources

US Marshals Service Auctions 29,656 Seized Bitcoins — 2014-06-27

  • Price: $596.80
  • Price 10 days later: $628.50

Nearly  30,000 government seized Bitcoins, obtained by the US Marshals Service  during the October 2013 bust of the Silk Road website, are auctioned off  in chunks of 3,000 bitcoins. Bidders are required to deposit $200,000  USD via bank wire in order to qualify for the auction. A single bidder  (venture capitalist Tim Draper) won every auction, indicating that his  winning bid prices were far higher than the current market price.

Sources

Mining Pool GHash.io Reaches 51% — 2014-06-13

  • Price: $598.00
  • Price 10 days later: $592.28

Due  to GHash.io’s popularity and partnership with CEX.io to sell mining  shares of their own mining hardware, the mining pool giant gains a sole  majority of the Bitcoin network hashing power, and the ability to launch  a successful 51% attack on the Bitcoin network. With a majority of the  Bitcoin network hashing power, GHash.io could temporarily reverse  transactions that they send (double spending) and prevent other  transactions from being confirmed.GHash.io responds by stating  they “have and never will participate in any 51% attack”. The pool also  issues a press statement declaring that it will attempt to limit its  hashing power to 39.99% by “actively asking miners to take their  hardware away from GHash.IO and mine on other pools”, as well as form a  committee to assist Bitcoin core developers in solving the 51% attack  problem.

Sources

Chinese Exchanges’ Bank Accounts Closed — 2014-04-10

  • Price: $408.25
  • Price 10 days later: $501.70

The  People’s Bank of China’s frequently updated restrictions against  Bitcoin finally pressure some Chinese banks to issue a deadline against  several bitcoin exchanges, requiring them to close their accounts by  April 15. Although some are spared the warnings, the uncertain  regulatory environment holds some prominent loopholes that virtually all  Chinese exchanges quickly adopt. Using offshore banks, novel  cryptographic voucher systems and other solutions, these trading  platforms continue to operate, but at greatly reduced volumes from their  hayday in 2013.

Sources

IRS Declares Bitcoin To Be Taxed As Property — 2014-03-26

  • Price: $581.52
  • Price 10 days later: $453.05

The  IRS policy document declares Bitcoin to be property, not currency,  subject to capital gains tax – with that tax calculated against every  change in buying power for a given amount of bitcoin, from the time it’s  acquired to the time it’s spent. The decision is widely derided as  unwieldy and overly complex, requiring users of the currency to record  Bitcoin’s market price with every transaction, subject to an array of  largely unfamiliar calculations. Others, however, remark that the net  tax paid may often be less than if Bitcoin were treated as currency  proper – but to a market that emerged in tax-free innocence, it is a  difficult blow to soften.

Sources

Newsweek Claims Dorian Nakamoto is Bitcoin’s Creator — 2014-03-06

  • Price: $662.57
  • Price 10 days later: $631.25

In  an article titled “The Face Behind Bitcoin”, journalist Leah McGrath  Goodman writes that an unemployed engineer in Temple City, California is  in fact Bitcoin’s creator. Based on speculations and interviews with  Dorian’s family, Goodman’s article ultimately draws an enourmous amount  of worldwide attention to Dorian Nakamoto, who denies any involvement in  Bitcoin and asks for privacy from the media.The Bitcoin community would later go on to raise about $23,000 for Dorian Nakamoto.

Sources

Mt. Gox Closes — 2014-02-24

  • Price: $547.09
  • Price 10 days later: $662.57

After  putting an abrupt halt to withdrawals on February 6, claiming that a  hacker had exploited their own poorly-implemented software through the  use of transaction malleability attacks, disgraced bitcoin exchange Mt. Gox’s  website and trading engine go blank without official comment. Other  exchanges and Bitcoin businesses issue a joint statement condemning the  mismanagement, deception, and eventual collapse wrought by the  executives of the Japan-based exchange, after an alleged leaked internal  document showed that over 744,000 BTC were lost by the company.

Sources

Major Exchanges Hit With DDoS Attacks — 2014-02-07

  • Price: $717.83
  • Price 10 days later: $626.50

Mt. Gox,  Bitstamp, and BTC-e all experienced a stoppage of trading due to  massive DDoS attacks that were apparently aimed at exploiting  transaction maleability in the exchanges’ software. Mt. Gox  halted withdrawals first, on February 6, evidently contributing to a  sharp drop in BTC price; the DDoS attack was detected on February 11,  2014.Due to a host of problems at Mt. Gox, it may not be clear that the DDoS attack was primarily responsible for the problems they experienced on February 6th. [1]

Sources

Chinese Government Bans Financial Institutions From Using Bitcoin — 2013-12-05

  • Price: $1022.37
  • Price 10 days later: $839.93

Putting  its first restraints on Bitcoin’s surging popularity, the People’s Bank  of China declares Satoshi Nakamoto’s novel invention not to be a  currency. The policy change prohibits any financial institution to  trade, insure, or otherwise offer services related to Bitcoin. Over the  following weeks, further restrictions slowly strangle the Chinese  cryptocurrency markets, as exchanges repeatedly try to find innovative,  lasting ways to stay in operation, and prices around the globe sink  dramatically.

Sources

Exchange Rate Peaks at $1,242 on Mt. Gox — 2013-11-29 05:30:00

  • Price: $1132.26
  • Price 10 days later: $921.97

Rapidly  growing Bitcoin investment from China steadily drives prices higher and  higher, reaching a peak on November 29th. Subject to strict controls  concerning the movement of money across the country’s borders, Chinese  citizens embrace the freedom provided by Bitcoin with open arms, seeking  an alternative to the state’s inflating official currency, the  Renminbi. The origin of mainstream Chinese interest in Bitcoin is  largely credited to Jet Li’s One Foundation, which publicized a Bitcoin  address for donations in the wake of the April 20th, 2013 Lushan  earthquake and received over 230 BTC in just two days, covered widely in  the national media.

Sources

People’s Bank of China OK’s Bitcoin — 2013-11-20

  • Price: $641.23
  • Price 10 days later: $1075.16

Speaking  in Chinese at an economic forum, Mr. Yi says that “people are free to  participate in the Bitcoin market,” and that he would “personally adopt a  long-term perspective on the currency.” News of his statements energize  the already active Chinese bitcoin markets, with the largest, BTC  China, seeing trade volumes more than twice those of the world’s  second-largest exchange, Mt. Gox.

Sources

US Senate Holds Hearing On Bitcoin — 2013-11-18 20:00:00

  • Price: $685.75
  • Price 10 days later: $1072.83

Announced  under the title “Beyond Silk Road: Potential Risks, Threats, and  Promises of Virtual Currencies,” hope for the U.S. Government panel’s  discussion is dim among the Bitcoin community leading up to the hearing.  As the proceedings commence, however, many of the panelists and  Senators agree that Bitcoin holds great promise. The general consensus  is summed up by Jennifer Shasky Calvery, Director of the U.S.  Government’s Financial Crimes Enforcement Network (FinCEN), who  testified, “We want to operate in a way that does not hinder  innovation.”

Sources

Dread Pirate Roberts Arrested — 2013-10-01 22:15:00

  • Price: $133.03
  • Price 10 days later: $135.12

Following  a trail of clues left carelessly across the internet, the U.S. Federal  Bureau of Investigation (in conjunction with other agencies) manages to  identify the alleged operator of the dark web marketplace, which saw  most of its sales in illicit drugs. Ross Ulbricht, claimed by the FBI to  be the site’s founder, Dread Pirate Roberts, is arrested in a San  Francisco Public Library and charged with narcotics trafficking,  computer hacking, money laundering and engaging in a “continuing  criminal enterprise.” About 30,000 BTC of the Silk Road’s alleged  bitcoin holdings are seized at the time, and an additional 144,000 BTC  from DPR’s private holdings are swept up three weeks later.

Sources

Tradehill Shuts Down (Again) — 2013-08-30

  • Price: $131.48
  • Price 10 days later: $126.94

The  business-to-business bitcoin exchange had been reliant on the  relatively new Internet Archive Federal Credit Union to hold its  clients’ deposits in regulation-compliant, insured accounts. When the  IAFCU determines that it can not reasonably handle the myriad regulatory  issues surrounding Bitcoin, Tradehill is forced to halt operations and  return customers’ funds.

Sources

DHS Seizure Warrant Against Mt. Gox — 2013-05-14

  • Price: $114.33
  • Price 10 days later: $128.80

When Mt. Gox  opened an American bank account with Wells Fargo, President and CEO  Mark Karpelès answered “no” to the questions, “Do you deal in or  exchange currency for your customer?” and “Does your business accept  funds from customers and send the funds based on customers’ instructions  (Money Transmitter)?” The U.S. Government thinks otherwise. With the  warrant signed, Homeland Security Investigations seizes $2,915,507.40  from an account owned by a Mt. Gox  subsidiary that was used to process payments to and from U.S.  customers, and the future of Bitcoin’s legal status becomes ever more  uncertain.

Sources

Increased Trading Volume Breaks Mt. Gox — 2013-04-10

  • Price: $181.66
  • Price 10 days later: $122.90

Originally  thought to be a Distributed Denial-of-Service (DDoS) attack on the  largest bitcoin exchange, the great influx of traders on the heels of  Cyprus’s bailout announcement overwhelms Mt. Gox’s  servers, causing trades to stutter and fail. Speculative concerns about  the exchange’s hiccups feed a powerful panic-sell that saturates the  market and drives prices down to pre-rally levels, before rising again a  few days later.

Sources

Cyprus Bail-In — 2013-03-25

  • Price: $74.02
  • Price 10 days later: $131.07

Orchestrated  by Cyprus President Nicos Anastasiades, the Eurogroup, the European  Commission, the European Central Bank and the International Monetary  Fund, the €10 billion bailout is hoped to fortify the flagging Cypriot  economy. Among its conditions, however, is a sizable levy collected from  most bank accounts with holdings over the €100,000 cutoff – a serious  concern not just for wealthy Cypriots but many internationals, as the  nation’s favorable policies had made it a popular global tax haven,  particularly in Russia. Seeking solutions to preserve their holdings  before the bailout’s conditions take effect, many of these account  holders begin buying bitcoin en masse, driving a price rally through  early April that brought the value of one bitcoin from about $80 to over  $260.

Sources

Bitcoin 0.8 Causes Brief Hard Fork — 2013-03-11 23:24:19

  • Price: $47.41
  • Price 10 days later: $68.89

Shaking confidence in Bitcoin and the validity of some transactions, the price briefly plummets and the Mt. Gox  exchange temporarily suspends bitcoin deposits. Thanks to a swift and  coordinated response by Bitcoin developers, miners, and community  members, the fork is resolved within hours after the operators of two  large mining pools, Michael Marsee (of BTC Guild) and Marek Palatinus  (of slush’s pool), honorably forgo some of their accumulated mining  rewards in order to downgrade to the previous, compatible version. An  updated version, 0.8.1, is released shortly after, containing safeguards  to prevent the original problem.

Sources

Halving Day — 2012-11-28 15:24:38

  • Price: $12.25
  • Price 10 days later: $13.43

In  line with the original design for Bitcoin’s maturation, the number of  coins created to reward miners undergoes its first reduction, beginning  the long and gradual process of tapering the amount of new currency  entering the economy. These “Halving Days” are scheduled to occur every  four years, stepping down the number of new bitcoins generated until the  reward reaches 0 in the year 2140, to yield a fixed money supply of  20,999,999.9769 BTC. This pre-programmed limit to inflation is a major  driver of the currency’s economic controversy, value appreciation and  speculation.

Sources

WordPress Accepts Bitcoin — 2012-11-15

  • Price: $11.04
  • Price 10 days later: $12.46

In  a smart and savvy release, WordPress explains the decision: “PayPal  alone blocks access from over 60 countries, and many credit card  companies have similar restrictions… we don’t think an individual  blogger from Haiti, Ethiopia, or Kenya should have diminished access to  the blogosphere because of payment issues they can’t control. Our goal  is to enable people, not block them.” As one of the 25 most popular  domains on the web, WordPress’s move paves the way for later retail  ventures in Bitcoin.

Sources

Bitcoins Savings & Trust Halts Payments — 2012-08-17

  • Price: $13.31
  • Price 10 days later: $11.18

Promising  consistent weekly “interest” returns of 7% to its creditors, Trendon T.  Shavers (known on BitcoinTalk as Pirateat40) manages the secretive  operation for about eight months, accepting only large deposits of  bitcoin (50+ BTC) and paying out “interest” weekly. On August 17, 2012,  Pirateat40 announces a halt to the operation, and absconds with deposits  estimated between 86,202 and 500,000 BTC. On July 23, 2013, the U.S.  Securities and Exchange Commission files charges against Shavers for  defrauding investors in a Ponzi scheme.

Sources

Linode Hacked, Over 46,000 BTC Stolen — 2012-03-01 07:50:07

  • Price: $4.92
  • Price 10 days later: $4.89

An  unknown hacker breaches Linode’s server network and immediately seeks  out accounts related to bitcoin, quickly compromising the wallets of  eight customers. Bitcoinica, a large online bitcoin exchange, is hardest  hit, losing more than 43,000 BTC, while other prominent victims include  Bitcoin’s lead developer Gavin Andresen as well as Marek Palatinus  (also known as slush), the operator of a large mining pool. Both  Bitcoinica and slush’s pool bear the theft’s losses on behalf of their  customers.

Sources

Paxum and Tradehill Drop Bitcoin — 2012-02-11

  • Price: $5.70
  • Price 10 days later: $4.31

On  February 11, 2012, Paxum, an online payment service and popular means  for exchanging bitcoin announces it will cease all dealings related to  the currency due to concerns of its legality. Two days later, regulatory  issues surrounding money transmission compel the popular bitcoin  exchange and services firm TradeHill to terminate its business and  immediately begin selling its bitcoin assets to refund its customers and  creditors. The following day, Patrick Strateman, known on BitcoinTalk  as phantomcircuit, benevolently discloses a devastating bug in how  BTC-E, another online exchange, secures its clients’ accounts and funds.

Sources

Three New Exchanges Open Supporting More Fiat Currencies — 2011-03-27

  • Price: $0.83
  • Price 10 days later: $0.72

On  March 27, 2011, Britcoin launches the first exchange to trade bitcoin  and British Pound Sterling (GBP). Just days later, on March 31, Bitcoin  Brazil opens a service for face-to-face exchange in Brazilian Reals  (BRL) and U.S. Dollars. On April 5, BitMarket.eu begins facilitating  trades in Euros (EUR) and other currencies. Together, they simplify  bitcoin ownership and trading for hundreds of millions of new users and  the market is expanded enormously.

Sources

Bitcoin Price Hits $1.00 USD — 2011-02-09 20:00:00

  • Price: $0.96
  • Price 10 days later: $0.91

Just two years old, Bitcoin achieves parity with the U.S. Dollar on the Mt. Gox  exchange. The following day, some popular news outlets feature stories  on the symbolic milestone, causing such a surge of interest in the  growing currency that the official Bitcoin website is temporarily  hobbled.

Sources

Bitcoin Protocol Bug Causes Hard Fork — 2010-08-15 05:05:57

  • Price: $0.07
  • Price 10 days later: $0.07

Using  a peculiar quirk of the way computers process numbers, an unknown  person creates a fraudulent transaction that generates  184,467,440,737.08554078 bitcoins – nearly nine-thousand times as many  as can legitimately exist in the entire system. The oddity is quickly  spotted by Bitcoin developers and community members, and a fixed version  of the Bitcoin software is released within hours. By the next day, the  corrected blockchain overtakes the exploited one, and Bitcoin is back in  normal operation – but not before the market is badly shaken.

Sources

Mt. Gox Opens For Business — 2010-07-18 01:57:19

  • Price: $0.07
  • Price 10 days later: $0.06

Jed McCaleb, a programmer best known for creating the successful eDonkey peer-to-peer network in 2000, announces the launch of Mt. Gox,  a new full-time bitcoin exchange. Based on a prior, abandoned project  of McCaleb’s to create an online exchange for Magic: The Gathering  cards, he soon struggles to keep up with the demands of the business and  sells mtgox.com to Mark Karpelès on March 6, 2011. Mt. Gox would slowly grow to dominate the world of bitcoin trading over the next three years.

Sources

Bitcoin Posted on Slashdot — 2010-07-11

  • Price: $0.00800
  • Price 10 days later: $0.07000

The  release of Bitcoin version 0.3 is featured on slashdot.org, a popular  news and technology website. Reaching a large audience of technophiles,  the article brings many newly-interested people on board, driving the  exchange value of a single bitcoin up nearly tenfold, from approximately  $0.008 to $0.08 in just five days.

Sources

Two Pizzas Are First Material Item Purchased Using Bitcoin — 2010-05-22

  • Price: $0.00250
  • Price 50 days later: $0.00800

BitcoinTalk  user laszlo (Laszlo Hanyecz) pays 10,000 BTC for two pizzas delivered  to their house (valued at about $25), ordered and paid for by another  user, jercos. This assigns the first concrete valuation to bitcoin –  about $0.0025 per coin.

Sources

The First Bitcoin-to-Fiat Exchange Occurs — 2009-10-12 04:21:18

  • Price: $0.00099
  • Price 222 days later: $0.00250

Using PayPal, NewLibertyStandard buys 5,050 BTC from Sirius for $5.02, equating to roughly one tenth of a cent per bitcoin.

Sources

New Liberty Standard Publishes First Exchange Rate — 2009-10-05

  • Price: $0.00076
  • Price 229 days later: $0.00250

New  Liberty Standard opens a service to buy and sell bitcoin, with an  initial exchange rate of 1,309.03 BTC to one U.S. Dollar, or about eight  hundredths of a cent per bitcoin. The rate is derived from the cost of  electricity used by a computer to generate, or “mine” the currency.

Sources

Genesis Block Established — 2009-01-03 18:15:05

  • Price: N/A
  • Price 275 days later: $0.00076

The  first Bitcoin transaction record, or genesis block, kicks off the  Bitcoin blockchain and includes a reference to a pertinent newspaper  headline of that day:The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.The initial Bitcoin program and its source code are released by Satoshi Nakamoto six days later.

Sources

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      4 votes
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        ·  8 years ago 

      I HAVE TO SAY THERE IS NO INTENTION TO plagiarism, I JUST SHARING INFORMATION, RESOURCES I INCLUDE ALL THERE.

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        [-]
          ·  8 years ago 

        marttimalmi Martti Malmi tweeted @ 15 Jan 2014 - 14:04 UTC

        Found the first known bitcoin to USD transaction from my email backups. I sold 5,050 BTC for $5,02 on 2009-10-12. blockchain.info/tx/7dff938918f…

        MichaelDell Michael Dell tweeted @ 18 Jul 2014 - 15:52 UTC

        Dell is now the world's largest ecommerce business to accept #bitcoin dell.com fb.me/1d9ojMrZw

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