History of bitcoin: The worlds first decentralized currency -Part 1
2007: Satoshi Nakamoto... The Legend
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In 2008, a mysterious person calling himself Satoshi Nakamoto invented Bitcoin. To this day, Satoshi remains anonymous and nobody knows who he or she is. Satoshi could be a woman, a man, or a group of people. Nobody knows! According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007.
August 15, 2008: An Interesting patent application
Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application. All three individuals deny a connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept.
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August 18, 2008: Bitcoing.org is registered
Bitcoin.org is born! The domain was registered at anonymousspeech.com, a site that allows users to anonymously register domain names and currently accepts Bitcoins.
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.
The bitcoin whitepaper
November 9, 2008: The Bitcoin Project hits SourceForge
The Bitcoin project is registered on SourceForge.net, a community collaboration website focused on the development and distribution of open source software.
January 3, 2009: The Genesis Block is mined
The bitcoin network came into existence with Satoshi Nakamoto mining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins. Embedded in the coinbase of this block was the text:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
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January 9, 2009: Version 0.1 is released
Version 0.1 of Bitcoin is released. Compiled with Microsoft Visual Studio for Windows, it lacks a command line interface and is so complete that it furthers speculation that it was developed by more than one person (or by an academic with little programming experience and a great deal of theoretical know-how). It includes a Bitcoin generation system that would create a total of 21 million Bitcoins through the year 2140. Satoshi Nakamoto writes:
Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double-spending. It's completely decentralized with no server or central authority.
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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. Finney downloaded the bitcoin software the day it was released, and received 10 bitcoins from Nakamoto in the world's first bitcoin transaction. In the early days, Nakamoto is estimated to have mined 1 million bitcoins.
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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.
October 12, 2009 #bitcoin-dev hits freenode IRC
The #bitcoin-dev channel is registered on freenode IRC, a discussion network for free and open source development communities.
December 16, 2009: Version 0.2 is released
Version 0.2 of Bitcoin is released.
February 6, 2010: A currency exchange is born
The Bitcoin Market was a bitcoin currency exchange site owned and operated by bitcointalk user dwdollar. Trading on the site began on March 17th, 2010.
February 18, 2010: Encryption patent is published
The encryption patent application that was filed on August 15, 2008 by Neal Kin, Vladimir Oksman, and Charles Bry was published.
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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 two pizza on the Bitcoin Forum delivered by Papa John's. At the time, the exchange rate put the purchase price for the pizza at around US$25. Crypto enthusiasts around the world celebrate the anniversary of one of the earliest bitcoin purchases as Bitcoin Pizza Day.
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July 7, 2010: Version 0.3 released
Version 0.3 of Bitcoin is released.
July 11, 2010: Slashdot drives surge in Bitcoin users
Mention of Bitcoin v0.3 on slashdot brings in a large number of new Bitcoin users.
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.
July 17, 2010: MtGox is established
The MtGox Bitcoin currency exchange market is established by Jed McCaleb based in Shibuya, Tokyo, Japan. Launched in July 2010, by 2013 and into 2014 it was handling over 70% of all bitcoin transactions worldwide, as the largest bitcoin intermediary and the world's leading bitcoin exchange.
July 18, 2010: OpenGL GPU hash farm and ArtForz
ArtForz establishes an OpenGL GPU hash farm and generates his first Bitcoin block.
August 15, 2010: Exploit generates 184 billion Bitcoins
On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. A vulnerability in the Bitcoin system that causes Bitcoins to be improperly verified is discovered and exploited, resulting in the generation of 184 billion Bitcoins. This was the only major security flaw found and exploited in bitcoin's history.
September 14, 2010: An offer for CUDA...
An offer is made by jgarzik, in the name of the Bitcoin Store, to puddinpop to open source their Windows-based CUDA client. The offer was in the form of 10,000 BTC which, at the time, was valued at around US$600 to US$650.
September 18, 2010: CUDA becomes open-source
Under the MIT license, puddinpop releases the source of their Windows-based CUDA client, open sourced by the Bitcoin Store, following a contribution by jgarzik.
September 18, 2010: Slush's Pool mines its first block
Bitcoin Pooled Mining (operated by slush), a method by which several users work collectively to mine Bitcoins and share in the benefits, mines its first block.
September 29, 2010: Another exploit discovered
A microtransactions exploit is discovered by kermit, precipitating the release of Version 0.3.13.
October 2010: Financial task force issues warning
The Financial Action Task Force, an inter-governmental group that develops and promotes policies to prevent money laundering and funding of terrorists, publishes Money Laundering Using New Payment Methods, to warn about the use of digital currencies to finance terrorist groups.
October 2010: OpenCL miner released
The first public version of an OpenCL miner is released. An OpenCL miner is a bitcoin miner that uses the OpenCL framework to perform the hashing computations. When used with a modern GPU, this can produce hash rates orders of magnitude higher than what can be achieved with a CPU.
October 7, 2010: Stalled Bitcoin value begins climb
The Bitcoin exchange rate, stalled at US$0.06/BTC for several months, begins to climb.
October 16, 2010: First escrow transaction takes place
Bitcoin Forum members Diablo-D3 and nanotube conduct the first recorded escrow trade of Bitcoins with theymos as escrow.
October 17, 2010: #bitcoin-otc trading channel opens
The #bitcoin-otc trading channel is registered on freenode IRC as a marketplace for over-the-counter trading of Bitcoins.
October 28, 2010: First ever short sale
Facilitated by #bitcoin-otc, the first recorded short sale of Bitcoins is initiated in the form of a 100 BTC loan from nanotube to kiba.
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.
December 7, 2010: Bitcoind compiled for Nokia N900
Bitcoin Forum member doublec compiles Bitcoind, which was written for the Nokia N900 mobile computer.
December 8, 2010: First mobile Bitcoin transaction
The first portable-to-portable transaction of Bitcoins occurs when ribuck sends doublec 0.42 BTC using Bitcoind.
December 9, 2010: Difficulty increases
The generation difficulty exceeds 10,000
As you can see that as time passes the bitcoin addaption is incresing more rapidly. The post is getting longer, so i will write another post which will include rest of the history.