History of bitcoin

->Bitcoin Price Chart With Historic Events

Bitcoin hit news headlines this week as the price of one unit of the cryptocurrency passed $11,500 for the first time.

Although it’s often referred to as new, Bitcoin has existed since 2009 and the technology it is built on has roots going back even further. In fact if you had invested just $1,000 in Bitcoin the year it was first publicly available, you would now be richer to the tune of £36.7 million.

Here is a brief history of Bitcoin and cryptocurrency.

~> 1998 – 2009 The pre-Bitcoin years

~> 2008 – The Mysterious Mr Nakamoto

~> 2009 – Bitcoin begins

~> 2010 – Bitcoin is valued for the first time

~> 2011 – Rival cryptocurrencies emerge

~> 2013 – Bitcoin price crashes

~> 2014 – Scams and theft

~> 2016 – Ethereum and ICOs

~> 2017 –Bitcoin reaches $10,000 and continues to grow

Since its market high of almost $20,000 on 17th December 2017, Bitcoin’s market price appears to have been in an irreversible freefall. At the time of writing, its value has been dropping for 49 consecutive days, having lost 64.5% in that period, reaching its current low of just over $8,000 per coin. Indeed, many casual observers of the industry have said that it is a sign that the Bitcoin bubble has finally burst, and the sector will not recover.

-> How Much was 1 Bitcoin Worth in 2009?
Bitcoin was not traded on any exchanges in 2009. Its first recorded price was in 2010. Technically, Bitcoin was worth $0 in 2009 during its very first year of existence!

->How Much was 1 Bitcoin Worth in 2010?
Bitcoin's price never topped $1 in 2010! Its highest price for the year was just $0.39!

->What Determines Bitcoin's Price?
Bitcoin’s price is measured against fiat currency, such as American Dollars (BTCUSD), Chinese Yuan (BTCCNY) or Euro (BTCEUR). Bitcoin therefore appears superficially similar to any symbol traded on foreign exchange markets.

->What is Bitcoin Used For?
Currency must have value to ensure stability. The most common way for a person to judge a currency’s value is what they can use it on; Bitcoin is no different, and a host of vendors and merchants now accept it alongside, or in place of, fiat money.

One early adopter of Bitcoin was the computer retailer Dell. In fact, when Dell started accepting Bitcoin, it became one of the largest companies to do so internationally. While the digital currency may total for just a fraction of the retailer’s total transaction volume, there are other key reasons why the growth of Bitcoin could be aboon for the retailer.

Dell reported earnings of $59 billion during 2015. Traditional transaction fees range from 2 to 3 percent of the purchase price - with Bitcoin, it’s much, much lower, nearing non-existent - saving the retailer a lot of money in the future.