Bitcoin famously started its existence from the publication of a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" by an anonymous person or group using the pseudonym Satoshi Nakamoto in October 2008. I was a kid as at this time but i would always see the signs of the golden Ɓ on some low powered dark websites. The whitepaper outlined the concept of a decentralized digital currency that would operate on a peer-to-peer network without the need for a central authority. Fair to say that the publishers already saw the future (Today) from 2008.
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In January 2009, the Bitcoin network came into existence with the mining of the first block, known as the "genesis block." This marked the birth of the Bitcoin blockchain. This is literally the system that most Crypto currency systems are using currently, either by mining or minting. Initially, Bitcoin had little value, and its early adopters were mainly cryptography enthusiasts and libertarians who were attracted to its promise of financial sovereignty and decentralization.
I could remember the very first notable transaction involving Bitcoin occurred in May 2010 when Laszlo Hanyecz famously paid 10,000 bitcoins for two pizzas, marking the first real-world transaction using the cryptocurrency. Imagine if he still had 10,000 worth of Bitcoins in today's Bitcoin market? He will have a Crypto currency Net Worth of 420 Million dollars.
After the famous transaction, over a few more years,Bitcoin gained traction as more merchants began accepting it as a form of payment, and its value started to increase. In 2013, Bitcoin experienced its first major price rally, reaching parity with the US dollar and then surging to over $1,000 by the end of the year. However, this was followed by a significant crash, with the price dropping to around $200 in early 2015. I fully remembered how Bitcoin was labeled a ponzi-scheme by a lot of people after this great fall in price.
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But despite this volatility, Bitcoin continued to attract attention from investors, technologists, and the media. Its underlying blockchain technology also garnered interest from various industries beyond finance, leading to the development of alternative cryptocurrencies and blockchain projects.
In late 2017, Bitcoin experienced an unprecedented price rally, reaching a high of nearly $20,000 per coin. This surge in value was fueled by increasing mainstream adoption, as well as speculative investment from retail and institutional investors. However, the price rally was followed by a sharp correction, with Bitcoin's price dropping below $4,000 in early 2019.
All these can be summarized with the fact that in 2024, Bitcoin now grossed about $42,000 per coin and still is the most leading Crypto currency in the world.
After the Zealy marketing campaign, my Boss told us that a digital currency may follow the footsteps of Crypto currency in a matter of few years to come and that is INLEO tokens. He advised us to get very active with everything that has to do with Inleo on Hive because Inleo is specifically on a move.
I just decided to share some history with you as well as give you a little secret. Thanks for reading!
The last picture was gotten from Inleo Discord Channel.
Posted Using InLeo Alpha
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