5 Major Bitcoin Events In Crypto History After 13 Years of Highs and Lows
The 13-year-old crypto industry may be an emerging industry, nevertheless, it is undoubtedly the most talked-about industry that has experienced the fastest growth.
The crypto industry has seen its highest high and the lowest low, and we’re not just talking about volatility. Apart from Elon Musk’s Dogecoin tweets, here are five significant events that have left a mark in crypto history.
- The Birth Of Bitcoin
Satoshi Nakamoto published a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System on October 31, 2008. Little did he know that the paper he authored will be known as the Bitcoin whitepaper. Nakamoto then became the founder of Bitcoin when he generated block zero of the blockchain called the genesis block on January 3, 2009, which is the birth of Bitcoin network.
The first P2P transaction was made by Nakamoto on February 12, 2009, which he transferred 10 BTC to the late Hal Finney, a famous computer scientist. On the same day, Finney tweeted:
“When Satoshi announced the first release of the software, I grabbed it right away. I think I was the first person besides Satoshi to run bitcoin,” said Finney.
2. Bitcoin Pizza Day
Laszlo Hanyecz shared this photo after his order for two Papa John’s pizzas was delivered. His one-year-old daughter’s hand is also included.
22nd of May will forever be known as the Bitcoin Pizza Day where a young man paid 10,000 Bitcoins for two pizzas, which was worth less than $0.01 USD at the time. Now, those Bitcoins is worth almost $375 million.
Laszlo Hanyecz told Cointelegraph:
“It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool. No one knew it was going to get so big.”
In retrospect, these were the most expensive pizzas ever paid in human history, but Hanyecz has no remorse about spending that Bitcoin since he believes it was the only way to accelerate Bitcoin acceptance.
3. HODL
The word ‘HODL”, also known as ‘hold on for dear life’ realms the crypto space but do you know how the word was coined?
It started on the 18th of December 2013, when a user named GameKyuubi wrote an entry on the bitcointalk forum titled “I AM HODLING.”
“I type d that tyitle (title) twice because I knew it was wrong the first time. Still wrong.”
He added on criticised his lack of trading abilities and stated that he planned to keep his bitcoin despite its price plunging at the moment.
Soon after, the misspelt word became one of the most common crypto jargon used to explain buy-and-hold investment strategy.
4. Bitcoin To The Moon
2013 might have been the wildest year for Bitcoin.
Image via NPR
Since the start of 2013, Bitcoin’s price was gradually climbing and the price reached $600 in two weeks. It was not until the end of November that the price exploded from approximately $125 to over $1200, forcing investors to take notice of the cryptocurrency and crowning Bitcoin ‘the future of money’.
It is said that Bitcoin’s entry into the Chinese market and high demands from the Chinese middle class is the contributing factor for the cryptocurrency rise ‘to the moon’ before collapsing in December 2013 due to manipulative activities.
5. The Mt. Gox Heist
Image via Techcrunch
Speaking of manipulative activities, the Mt. Gox heist remains the most infamous hack in crypto history. Mt. Gox, one of the original and biggest bitcoin exchanges based in Japan. The exchange operated between 2010 and 2014 and once handled more than 70% of Bitcoin transactions globally.
In February 2014, Mt. Gox said that they no longer accept Bitcoin withdrawals and announced to have lost over 850,000 Bitcoins in a hack.
Despite the fact that 200,000 Bitcoins were recovered, the news sent Bitcoin’s price plunging by 20%, prompting Japan’s legislators to create a bill regulating bitcoin exchanges. Fortune has even produced a 4-minute documentary that covers the entire saga.
The Altimate Crypto Guide
Interested in knowing the latest cryptocurrency updates and trends? Altimates is the best platform to go.
Arbitrage trading can be zero-risk with Altimates leading you through the way. In your perilous journey to reap a fortune, let Altimates be the one to guide you forward.
For more about Altimates, check out the links below:
Facebook: https://www.facebook.com/OfficialAltimates/
Telegram: https://t.me/Altimates_Group
Website: http://altimates.com/
