Experts Dissect Craig Wright's 'Satoshi ... - Bitcoin News

Second-Ever Bitcoin Developer Who Coded Alongside Satoshi, Martti Sirius Malmi Returns in New Cryptocurrency Venture

Second-Ever Bitcoin Developer Who Coded Alongside Satoshi, Martti Sirius Malmi Returns in New Cryptocurrency Venture submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin's Co-Founder Martti Malmi is Back in the Game With New Crypto Project

submitted by IndependentDuck4 to CryptoComes [link] [comments]

Crypto history, part 2

Crypto history, part 2
So, we have already discussed the prerequisites for the creation of electronic currencies, as well as the appearance of the mysterious Satoshi Nakamoto. Today we will continue with this story.
According to Satoshi himself, the idea of ​​creating Bitcoin came to him in 2007. The announcement of the algorithm took place on October 31, 2008, when Satoshi published a «white paper» of bitcoin through the use of electronic mailing lists and sent it to all the addresses contained in the cypherpunk address book. When explaining the letter, he indicated that he had developed a peer-to-peer electronic money system, through which transactions could be performed directly but anonymously between the participants
Satoshi called Bitcoin «e-cash» or «electronic cash». Later, in 2011, Forbes magazine published an article entitled «Crypto currency» dedicated to Bitcoin, after which the term «cryptocurrency» became common place for such systems.
After the Electronic mailing, Satoshi and the cryptographers who joined him began work on the creation of a «client». In January 2009, Bitcoin 0.1 version was launched. Satoshi’s computer became the first «node», Hal Finney was the second to connect to the Blockchain network. In January the same year, the first block of coins was generated and the first transaction made. Satoshi had sent 10 bitcoins to Hal.
In September 2009, the first exchange of bitcoin for real money was made — user Martti Malmi received $ 5.02 for 5050 bitcoins from user ‘NewLibertyStandard’ via PayPal. In fact, this transaction was both a purchase and a sale. In October, the bitcoin exchange rate was determined by multiplying the average computing power used to obtain one coin multiplied by the cost of electricity in the United States, and thus, 1309 bitcoins could be bought for $ 1.
In November 2009, a forum was created on the website bitcoin.org where bitcoin enthusiasts could communicate with one another. With the growth in the number of nodes, the complexity of mining had increased, which in turn necessitated the search for newer ways to mine coins. Instead of mining using a CPU, Users began using the GPUs on video cards to improve the efficiency of their devices. During the same period, the user ArtForz created the first mining farm, which was a combination of several video cards constantly engaged in the mining process.
On July 17, 2010, the first digital currency exchange’ MtGox’ was created. Only 10 years later with the help of NeuronChain, the first digital currency exchange NeuronEx was created which allows users to make digital transactions of not only cryptocurrency, but fiat money!
Now all of the most popular digital currencies are available to transactions on NeuronEx — BTC, BCH, ETH, ETC, LTC, DASH, XRP, Dogecoin, EMC, EOS, BCH, BSV, EURT, USDT, CNHT, XAUT, as well as its own Neuron Coin — NRON.

https://preview.redd.it/4lz79yjgevn51.jpg?width=1200&format=pjpg&auto=webp&s=71467a05fae88c600f86c2380f9cd4aedcfa5802
#Finance #NeuronChain #blockchain #NeuronEx #NeuronWallet #CryptoNeuroNews #crypto
submitted by LadyMariann to NeuronChain [link] [comments]

How the Bitcoin price was changing

Nowadays, the Bitcoin currency rate perhaps is the most unpredictable thing. All predictions about how BTC price will increase or drop are in some way similar to the weather forecasts. No one can tell what will happen to the coin tomorrow. One of the most important factors that experts rely on is the history of the currency rate over the whole period of BTC existence with its dynamics. It is essential to know what was happening to the coin as this allows you to understand what can happen to it in the future.

2009

The first digital currency – Bitcoin – came to the world on January 9, 2009. In the same month, the creator of Bitcoin mined the first block and he also made the first financial operation in the BTC system.

At the beginning of its history, the Bitcoin price was ridiculously low. The first exchange of BTC to US dollars was made in the summer of 2009 when Martti Malmi received 5.02 USD for his 5050 Bitcoins.

The first official Bitcoin exchange rate to the fiat dollar was established on October 9, 2009. At that time, for 1 dollar you could buy 1 309.03 BTC. Many people now regret that they missed the opportunity to buy Bitcoin for pennies.

2010

In 2010, events in the cryptocurrency market began to develop more intensively. The Bitcoin Market exchange was opened in February 2010, where it was possible to sell the digital coin. In May of this year, the most well-known deal with Bitcoin had happened. The programmer Laszlo Hanyecz bought 2 pizzas for 10,000 BTC. It was the first purchase using cryptocurrency in the real world. He posted a request on the crypto forum saying that he wanted to buy two pizzas. In exchange for that, he offered 10K Bitcoins that back then cost about 40 dollars. And there was a person who agreed to have this deal – it was the 19 years old Jeremy Sturdivant. Jeremy didn’t become a millionaire since then as he spent his coins to travel across the USA.

As for Laszlo, he doesn’t regret about the lost millions. He was mining coins for his pleasure at that time and spent them to different non-significant things.

In July of 2010, BTC price raised to 0.08 dollars. Then in November, the price went up for 50 percent. In general, 2010 was an excellent period for strengthening the position of Bitcoin. The digital currency was almost able to reach the point of one dollar.

2011

BTC overcame the point of 1 dollar only in February of 2011. By early June, the price had grown to 10 dollars. This was a small victory for Bitcoin. Another maximum was set at the point of $31.91. In the middle of June 2011, there was a sharp drop in price: from 31.91 again to 10 dollars.

The year 2011 was full of negative events. One of them happened on June 13, when a user’s electronic wallet was first hacked and 25 thousand coins were stolen from there. In a few days, some geeks hacked MtFox exchange where they got data of sixty thousand users. These events negatively affected the Bitcoin rate. It became clear that in the future the price of digital currency will be determined taking into consideration any events that occur in the market.

2012

In 2012, the exchange rate was ranging from 8 to 12 dollars per 1 BTC. This period was also rich in significant events. One of them is that Bitcoin Central bank began its work. This bank received a license and was even recognised by European regulators.

2013

February 22, 2013, was the day when Bitcoin began to grow again. The price reached the mark of $30. Another increase occurred at the end of January – $31.9. The upward trend continued. March 22 rate was 74.9 dollars per BTC.

On the first day of April, the price went up to $100 and within another nine days, the BTC price grew to 266 dollars. But the growth did not last long. By October it was $109. The possible reason for that is the arrest of an anonymous trading platform Silk Road.

Since November 2013, the price of Bitcoin began to grow anew. By the end of the month, the price exceeded all expectations and raised up to $1,200 per coin. The reason for overcoming the $1,000 point was the BTC support by Zynga game creator. Experts also noted another event that could affect the growth: one of the higher education institutions in Cyprus started accepting the Bitcoin as payment for tuition.

But by the end of the first week of December, the price was 1,000 dollars. In the middle of December 2013, the BTC price dropped to 600 dollars because the China Central Bank prohibited the country’s financial institutions to maintain operations with cryptocurrency.

2014

During the year 2014, there happened rather a significant amount of events that had an impact on the Bitcoin volatility. In the first days of January, 1 BTC was equal to 770 dollars. In February it was 700 dollars. Summer 2014 slightly strengthened the reputation of the cryptocurrency.

Many experts think that it was 2014 when BTC strengthened its position in the market, in spite of the fact that Bitcoin price was low – by the end of the year it settled in at around 310 dollars. In 2014 investors began to consider Bitcoin as a potential investment as Bitcoin price predictions seemed quite attractive.

2015

At the beginning of 2015, the BTC price started rising: with 177 dollars in January to 281 dollars to March. The number of people who were trading Bitcoin increased – there were about 160,000 people was buying and selling BTC on exchanges by August 2015. In one period of 2015 the Bitcoin price grew up to 500 dollars, but to the end of 2015, it dropped to about 350 USD.

2016

In 2016, Japan declared Bitcoin as a currency and allowed to use it to pay for goods and services. South Africa was the next who did the same. In April 2016, BTC rate went up and reached $454 per coin. By the end of May, 1 BTC was already worth $600. The reason for the price increase might be the growth of the number of transactions in the Chinese market. The highest price in 2016 was in December – $950 for one Bitcoin.

2017

The year of 2017 was an incredible period in respect of BTC price. It started with $1,000 for 1 coin. Already in June, it was $2,600. By the beginning of September, the price jumped to $5,000 per 1 BTC. On December 17, the Bitcoin price achieved a record and was over 20,000 US dollars.

How did this happen? Here are some reasons that experts point due to the growth of Bitcoin price:


However, later in December, the price plummeted from 20 000 dollars to 12 000 dollars. Experts had different reasons including that one of the first cryptocurrency creators sold out all his digital savings and called such investments too risky.

2018

During the first 4 months of 2018, the price of BTC dropped below 7,000 USD. These negative dynamics were quite logical because the rise is always followed by the fall. For the first time since October 2017, the Bitcoin price fell below 6,000 dollars. On November 25, the price of Bitcoin fell even lower – $3,676 per 1 BTC. By mid-December, the bitcoin rate fell by almost 80% to its yearly rate, the price was $3,200.

Nowadays

What can we expect in 2019? What Bitcoin price predictions do crypto experts have? People hope that 2019 will bring new opportunities for Bitcoin and also other cryptocurrencies. Some investors and crypto enthusiasts predict that the BTC price will grow to 40 – 50,000 USD by the end of 2019. One of them, John McAfee, is assured that the price will rise to 1 million dollars by the end of 2020. He even had a bet that he posted in his Twitter saying that he would eat his “love muscle” if his BTC price prediction will not come true.

There may be a number of factors that can influence the BTC price in 2019. They are:

As it was said before, Bitcoin price predictions are almost like the weather forecast – you never know what price it will have tomorrow. If you think about investing in BTC or any other cryptocurrency you should follow its rate at present time but never forget to compare it to the past. But please, don’t bet to eat any of your body parts 🙂

Feel free to follow our updates and news on Twitter, Facebook, Reddit, Telegram and BitcoinTalk.
Read what the customers say about SimpleSwap on Trustpilot.
Don’t hesitate to contact us with any questions you may have via [[email protected]](mailto:[email protected]).
submitted by SimpleSwapExchange to BitcoinMarkets [link] [comments]

How the Bitcoin price was changing

How the Bitcoin price was changing
Nowadays, the Bitcoin currency rate perhaps is the most unpredictable thing. All predictions about how BTC price will increase or drop are in some way similar to the weather forecasts. No one can tell what will happen to the coin tomorrow. One of the most important factors that experts rely on is the history of the currency rate over the whole period of BTC existence with its dynamics. It is essential to know what was happening to the coin as this allows you to understand what can happen to it in the future.

2009

The first digital currency – Bitcoin – came to the world on January 9, 2009. In the same month, the creator of Bitcoin mined the first block and he also made the first financial operation in the BTC system.
At the beginning of its history, the Bitcoin price was ridiculously low. The first exchange of BTC to US dollars was made in the summer of 2009 when Martti Malmi received 5.02 USD for his 5050 Bitcoins.
The first official Bitcoin exchange rate to the fiat dollar was established on October 9, 2009. At that time, for 1 dollar you could buy 1 309.03 BTC. Many people now regret that they missed the opportunity to buy Bitcoin for pennies.

2010

In 2010, events in the cryptocurrency market began to develop more intensively. The Bitcoin Market exchange was opened in February 2010, where it was possible to sell the digital coin. In May of this year, the most well-known deal with Bitcoin had happened. The programmer Laszlo Hanyecz bought 2 pizzas for 10,000 BTC. It was the first purchase using cryptocurrency in the real world. He posted a request on the crypto forum saying that he wanted to buy two pizzas. In exchange for that, he offered 10K Bitcoins that back then cost about 40 dollars. And there was a person who agreed to have this deal – it was the 19 years old Jeremy Sturdivant. Jeremy didn’t become a millionaire since then as he spent his coins to travel across the USA.

As for Laszlo, he doesn’t regret about the lost millions. He was mining coins for his pleasure at that time and spent them to different non-significant things.

The two pizzas bought by Laszlo
In July of 2010, BTC price raised to 0.08 dollars. Then in November, the price went up for 50 percent. In general, 2010 was an excellent period for strengthening the position of Bitcoin. The digital currency was almost able to reach the point of one dollar.

2011

BTC overcame the point of 1 dollar only in February of 2011. By early June, the price had grown to 10 dollars. This was a small victory for Bitcoin. Another maximum was set at the point of $31.91. In the middle of June 2011, there was a sharp drop in price: from 31.91 again to 10 dollars.

The year 2011 was full of negative events. One of them happened on June 13, when a user’s electronic wallet was first hacked and 25 thousand coins were stolen from there. In a few days, some geeks hacked MtFox exchange where they got data of sixty thousand users. These events negatively affected the Bitcoin rate. It became clear that in the future the price of digital currency will be determined taking into consideration any events that occur in the market.

2012

In 2012, the exchange rate was ranging from 8 to 12 dollars per 1 BTC. This period was also rich in significant events. One of them is that Bitcoin Central bank began its work. This bank received a license and was even recognized by European regulators.

2013

February 22, 2013, was the day when Bitcoin began to grow again. The price reached the mark of $30. Another increase occurred at the end of January – $31.9. The upward trend continued. March 22 rate was 74.9 dollars per BTC.

On the first day of April, the price went up to $100 and within another nine days, the BTC price grew to 266 dollars. But the growth did not last long. By October it was $109. The possible reason for that is the arrest of an anonymous trading platform Silk Road.

Since November 2013, the price of Bitcoin began to grow anew. By the end of the month, the price exceeded all expectations and raised up to $1,200 per coin. The reason for overcoming the $1,000 point was the BTC support by Zynga game creator. Experts also noted another event that could affect the growth: one of the higher education institutions in Cyprus started accepting the Bitcoin as payment for tuition.

But by the end of the first week of December, the price was 1,000 dollars. In the middle of December 2013, the BTC price dropped to 600 dollars because the China Central Bank prohibited the country’s financial institutions to maintain operations with cryptocurrency.

The Bitcoin price chart in November, 2013

2014

During the year 2014, there happened rather a significant amount of events that had an impact on the Bitcoin volatility. In the first days of January, 1 BTC was equal to 770 dollars. In February it was 700 dollars. Summer 2014 slightly strengthened the reputation of the cryptocurrency.

Many experts think that it was 2014 when BTC strengthened its position in the market, in spite of the fact that Bitcoin price was low – by the end of the year it settled in at around 310 dollars. In 2014 investors began to consider Bitcoin as a potential investment as Bitcoin price predictions seemed quite attractive.

2015

At the beginning of 2015, the BTC price started rising: with 177 dollars in January to 281 dollars to March. The number of people who were trading Bitcoin increased – there were about 160,000 people was buying and selling BTC on exchanges by August 2015. In one period of 2015 the Bitcoin price grew up to 500 dollars, but to the end of 2015, it dropped to about 350 USD.

2016

In 2016, Japan declared Bitcoin as a currency and allowed to use it to pay for goods and services. South Africa was the next who did the same. In April 2016, BTC rate went up and reached $454 per coin. By the end of May, 1 BTC was already worth $600. The reason for the price increase might be the growth of the number of transactions in the Chinese market. The highest price in 2016 was in December – $950 for one Bitcoin.

2017

The year of 2017 was an incredible period in respect of BTC price. It started with $1,000 for 1 coin. Already in June, it was $2,600. By the beginning of September, the price jumped to $5,000 per 1 BTC. On December 17, the Bitcoin price achieved a record and was over 20,000 US dollars.

How did this happen? Here are some reasons that experts point due to the growth of Bitcoin price:

  • In 2017 social media broadcasted a lot of information about Bitcoin and the blockchain system;
  • China resumed cashout of bitcoins from the Chinese cryptocurrency exchanges;
  • In December 2017, the United States officially allowed trading futures for Bitcoin;
  • The number of companies and people who were buying BTC increased as they considered Bitcoin the profitable investment and etc.

However, later in December, the price plummeted from 20 000 dollars to 12 000 dollars. Experts had different reasons including that one of the first cryptocurrency creators sold out all his digital savings and called such investments too risky.

2018

During the first 4 months of 2018, the price of BTC dropped below 7,000 USD. These negative dynamics were quite logical because the rise is always followed by the fall. For the first time since October 2017, the Bitcoin price fell below 6,000 dollars. On November 25, the price of Bitcoin fell even lower – $3,676 per 1 BTC. By mid-December, the bitcoin rate fell by almost 80% to its yearly rate, the price was $3,200.

Nowadays

What can we expect in 2019? What Bitcoin price predictions do crypto experts have? People hope that 2019 will bring new opportunities for Bitcoin and also other cryptocurrencies. Some investors and crypto enthusiasts predict that the BTC price will grow to 40 – 50,000 USD by the end of 2019. One of them, John McAfee, is assured that the price will rise to 1 million dollars by the end of 2020. He even had a bet that he posted in his Twitter saying that he would eat his “love muscle” if his BTC price prediction will not come true.

There may be a number of factors that can influence the BTC price in 2019. They are:

  • Nasdaq, the world’s second largest exchange plans to launch futures for Bitcoin;
  • Coming out of the first crypto-ETP in the world;
  • and many other unpredictable factors that can change the price of Bitcoin.

As it was said before, Bitcoin price predictions are almost like the weather forecast – you never know what price it will have tomorrow. If you think about investing in BTC or any other cryptocurrency you should follow its rate at present time but never forget to compare it to the past. But please, don’t bet to eat any of your body parts 🙂

Feel free to follow our updates and news on Twitter, Facebook, Reddit, Telegram and BitcoinTalk. Read what the customers say about SimpleSwap on Trustpilot. Don’t hesitate to contact us with any questions you may have via [[email protected]](mailto:[email protected]).
submitted by SimpleSwapExchange to BitcoinMining [link] [comments]

How the Bitcoin price was changing

How the Bitcoin price was changing
Nowadays, the Bitcoin currency rate perhaps is the most unpredictable thing. All predictions about how BTC price will increase or drop are in some way similar to the weather forecasts. No one can tell what will happen to the coin tomorrow. One of the most important factors that experts rely on is the history of the currency rate over the whole period of BTC existence with its dynamics. It is essential to know what was happening to the coin as this allows you to understand what can happen to it in the future.

2009

The first digital currency – Bitcoin – came to the world on January 9, 2009. In the same month, the creator of Bitcoin mined the first block and he also made the first financial operation in the BTC system.

At the beginning of its history, the Bitcoin price was ridiculously low. The first exchange of BTC to US dollars was made in the summer of 2009 when Martti Malmi received 5.02 USD for his 5050 Bitcoins.

The first official Bitcoin exchange rate to the fiat dollar was established on October 9, 2009. At that time, for 1 dollar you could buy 1 309.03 BTC. Many people now regret that they missed the opportunity to buy Bitcoin for pennies.

2010

In 2010, events in the cryptocurrency market began to develop more intensively. The Bitcoin Market exchange was opened in February 2010, where it was possible to sell the digital coin. In May of this year, the most well-known deal with Bitcoin had happened. The programmer Laszlo Hanyecz bought 2 pizzas for 10,000 BTC. It was the first purchase using cryptocurrency in the real world. He posted a request on the crypto forum saying that he wanted to buy two pizzas. In exchange for that, he offered 10K Bitcoins that back then cost about 40 dollars. And there was a person who agreed to have this deal – it was the 19 years old Jeremy Sturdivant. Jeremy didn’t become a millionaire since then as he spent his coins to travel across the USA.

As for Laszlo, he doesn’t regret about the lost millions. He was mining coins for his pleasure at that time and spent them to different non-significant things.

The two pizzas bought by Laszlo
In July of 2010, BTC price raised to 0.08 dollars. Then in November, the price went up for 50 percent. In general, 2010 was an excellent period for strengthening the position of Bitcoin. The digital currency was almost able to reach the point of one dollar.

2011

BTC overcame the point of 1 dollar only in February of 2011. By early June, the price had grown to 10 dollars. This was a small victory for Bitcoin. Another maximum was set at the point of $31.91. In the middle of June 2011, there was a sharp drop in price: from 31.91 again to 10 dollars.

The year 2011 was full of negative events. One of them happened on June 13, when a user’s electronic wallet was first hacked and 25 thousand coins were stolen from there. In a few days, some geeks hacked MtFox exchange where they got data of sixty thousand users. These events negatively affected the Bitcoin rate. It became clear that in the future the price of digital currency will be determined taking into consideration any events that occur in the market.

2012

In 2012, the exchange rate was ranging from 8 to 12 dollars per 1 BTC. This period was also rich in significant events. One of them is that Bitcoin Central bank began its work. This bank received a license and was even recognized by European regulators.

2013

February 22, 2013, was the day when Bitcoin began to grow again. The price reached the mark of $30. Another increase occurred at the end of January – $31.9. The upward trend continued. March 22 rate was 74.9 dollars per BTC.

On the first day of April, the price went up to $100 and within another nine days, the BTC price grew to 266 dollars. But the growth did not last long. By October it was $109. The possible reason for that is the arrest of an anonymous trading platform Silk Road.

Since November 2013, the price of Bitcoin began to grow anew. By the end of the month, the price exceeded all expectations and raised up to $1,200 per coin. The reason for overcoming the $1,000 point was the BTC support by Zynga game creator. Experts also noted another event that could affect the growth: one of the higher education institutions in Cyprus started accepting the Bitcoin as payment for tuition.

But by the end of the first week of December, the price was 1,000 dollars. In the middle of December 2013, the BTC price dropped to 600 dollars because the China Central Bank prohibited the country’s financial institutions to maintain operations with cryptocurrency.

The Bitcoin price chart in November, 2013

2014

During the year 2014, there happened rather a significant amount of events that had an impact on the Bitcoin volatility. In the first days of January, 1 BTC was equal to 770 dollars. In February it was 700 dollars. Summer 2014 slightly strengthened the reputation of the cryptocurrency.

Many experts think that it was 2014 when BTC strengthened its position in the market, in spite of the fact that Bitcoin price was low – by the end of the year it settled in at around 310 dollars. In 2014 investors began to consider Bitcoin as a potential investment as Bitcoin price predictions seemed quite attractive.

2015

At the beginning of 2015, the BTC price started rising: with 177 dollars in January to 281 dollars to March. The number of people who were trading Bitcoin increased – there were about 160,000 people was buying and selling BTC on exchanges by August 2015. In one period of 2015 the Bitcoin price grew up to 500 dollars, but to the end of 2015, it dropped to about 350 USD.

2016

In 2016, Japan declared Bitcoin as a currency and allowed to use it to pay for goods and services. South Africa was the next who did the same. In April 2016, BTC rate went up and reached $454 per coin. By the end of May, 1 BTC was already worth $600. The reason for the price increase might be the growth of the number of transactions in the Chinese market. The highest price in 2016 was in December – $950 for one Bitcoin.

2017

The year of 2017 was an incredible period in respect of BTC price. It started with $1,000 for 1 coin. Already in June, it was $2,600. By the beginning of September, the price jumped to $5,000 per 1 BTC. On December 17, the Bitcoin price achieved a record and was over 20,000 US dollars.

How did this happen? Here are some reasons that experts point due to the growth of Bitcoin price:

  • In 2017 social media broadcasted a lot of information about Bitcoin and the blockchain system;
  • China resumed cashout of bitcoins from the Chinese cryptocurrency exchanges;
  • In December 2017, the United States officially allowed trading futures for Bitcoin;
  • The number of companies and people who were buying BTC increased as they considered Bitcoin the profitable investment and etc.
However, later in December, the price plummeted from 20 000 dollars to 12 000 dollars. Experts had different reasons including that one of the first cryptocurrency creators sold out all his digital savings and called such investments too risky.

2018

During the first 4 months of 2018, the price of BTC dropped below 7,000 USD. These negative dynamics were quite logical because the rise is always followed by the fall. For the first time since October 2017, the Bitcoin price fell below 6,000 dollars. On November 25, the price of Bitcoin fell even lower – $3,676 per 1 BTC. By mid-December, the bitcoin rate fell by almost 80% to its yearly rate, the price was $3,200.

Nowadays

What can we expect in 2019? What Bitcoin price predictions do crypto experts have? People hope that 2019 will bring new opportunities for Bitcoin and also other cryptocurrencies. Some investors and crypto enthusiasts predict that the BTC price will grow to 40 – 50,000 USD by the end of 2019. One of them, John McAfee, is assured that the price will rise to 1 million dollars by the end of 2020. He even had a bet that he posted in his Twitter saying that he would eat his “love muscle” if his BTC price prediction will not come true.

There may be a number of factors that can influence the BTC price in 2019. They are:

  • Nasdaq, the world’s second largest exchange plans to launch futures for Bitcoin;
  • Coming out of the first crypto-ETP in the world;
  • and many other unpredictable factors that can change the price of Bitcoin.
As it was said before, Bitcoin price predictions are almost like the weather forecast – you never know what price it will have tomorrow. If you think about investing in BTC or any other cryptocurrency you should follow its rate at present time but never forget to compare it to the past. But please, don’t bet to eat any of your body parts 🙂

Feel free to follow our updates and news on Twitter, Facebook, Reddit, Telegram and BitcoinTalk.
Read what the customers say about SimpleSwap on Trustpilot.
Don’t hesitate to contact us with any questions you may have via [[email protected]](mailto:[email protected]).
submitted by SimpleSwapExchange to u/SimpleSwapExchange [link] [comments]

How the Bitcoin price was changing

How the Bitcoin price was changing
Nowadays, the Bitcoin currency rate perhaps is the most unpredictable thing. All predictions about how BTC price will increase or drop are in some way similar to the weather forecasts. No one can tell what will happen to the coin tomorrow. One of the most important factors that experts rely on is the history of the currency rate over the whole period of BTC existence with its dynamics. It is essential to know what was happening to the coin as this allows you to understand what can happen to it in the future.

2009

The first digital currency – Bitcoin – came to the world on January 9, 2009. In the same month, the creator of Bitcoin mined the first block and he also made the first financial operation in the BTC system.

At the beginning of its history, the Bitcoin price was ridiculously low. The first exchange of BTC to US dollars was made in the summer of 2009 when Martti Malmi received 5.02 USD for his 5050 Bitcoins.

The first official Bitcoin exchange rate to the fiat dollar was established on October 9, 2009. At that time, for 1 dollar you could buy 1 309.03 BTC. Many people now regret that they missed the opportunity to buy Bitcoin for pennies.

2010

In 2010, events in the cryptocurrency market began to develop more intensively. The Bitcoin Market exchange was opened in February 2010, where it was possible to sell the digital coin. In May of this year, the most well-known deal with Bitcoin had happened. The programmer Laszlo Hanyecz bought 2 pizzas for 10,000 BTC. It was the first purchase using cryptocurrency in the real world. He posted a request on the crypto forum saying that he wanted to buy two pizzas. In exchange for that, he offered 10K Bitcoins that back then cost about 40 dollars. And there was a person who agreed to have this deal – it was the 19 years old Jeremy Sturdivant. Jeremy didn’t become a millionaire since then as he spent his coins to travel across the USA.

As for Laszlo, he doesn’t regret about the lost millions. He was mining coins for his pleasure at that time and spent them to different non-significant things.

The two pizzas bought by Laszlo
In July of 2010, BTC price raised to 0.08 dollars. Then in November, the price went up for 50 percent. In general, 2010 was an excellent period for strengthening the position of Bitcoin. The digital currency was almost able to reach the point of one dollar.

2011

BTC overcame the point of 1 dollar only in February of 2011. By early June, the price had grown to 10 dollars. This was a small victory for Bitcoin. Another maximum was set at the point of $31.91. In the middle of June 2011, there was a sharp drop in price: from 31.91 again to 10 dollars.

The year 2011 was full of negative events. One of them happened on June 13, when a user’s electronic wallet was first hacked and 25 thousand coins were stolen from there. In a few days, some geeks hacked MtFox exchange where they got data of sixty thousand users. These events negatively affected the Bitcoin rate. It became clear that in the future the price of digital currency will be determined taking into consideration any events that occur in the market.

2012

In 2012, the exchange rate was ranging from 8 to 12 dollars per 1 BTC. This period was also rich in significant events. One of them is that Bitcoin Central bank began its work. This bank received a license and was even recognized by European regulators.

2013

February 22, 2013, was the day when Bitcoin began to grow again. The price reached the mark of $30. Another increase occurred at the end of January – $31.9. The upward trend continued. March 22 rate was 74.9 dollars per BTC.

On the first day of April, the price went up to $100 and within another nine days, the BTC price grew to 266 dollars. But the growth did not last long. By October it was $109. The possible reason for that is the arrest of an anonymous trading platform Silk Road.

Since November 2013, the price of Bitcoin began to grow anew. By the end of the month, the price exceeded all expectations and raised up to $1,200 per coin. The reason for overcoming the $1,000 point was the BTC support by Zynga game creator. Experts also noted another event that could affect the growth: one of the higher education institutions in Cyprus started accepting the Bitcoin as payment for tuition.

But by the end of the first week of December, the price was 1,000 dollars. In the middle of December 2013, the BTC price dropped to 600 dollars because the China Central Bank prohibited the country’s financial institutions to maintain operations with cryptocurrency.

The Bitcoin price chart in November, 2013

2014

During the year 2014, there happened rather a significant amount of events that had an impact on the Bitcoin volatility. In the first days of January, 1 BTC was equal to 770 dollars. In February it was 700 dollars. Summer 2014 slightly strengthened the reputation of the cryptocurrency.

Many experts think that it was 2014 when BTC strengthened its position in the market, in spite of the fact that Bitcoin price was low – by the end of the year it settled in at around 310 dollars. In 2014 investors began to consider Bitcoin as a potential investment as Bitcoin price predictions seemed quite attractive.

2015

At the beginning of 2015, the BTC price started rising: with 177 dollars in January to 281 dollars to March. The number of people who were trading Bitcoin increased – there were about 160,000 people was buying and selling BTC on exchanges by August 2015. In one period of 2015 the Bitcoin price grew up to 500 dollars, but to the end of 2015, it dropped to about 350 USD.

2016

In 2016, Japan declared Bitcoin as a currency and allowed to use it to pay for goods and services. South Africa was the next who did the same. In April 2016, BTC rate went up and reached $454 per coin. By the end of May, 1 BTC was already worth $600. The reason for the price increase might be the growth of the number of transactions in the Chinese market. The highest price in 2016 was in December – $950 for one Bitcoin.

2017

The year of 2017 was an incredible period in respect of BTC price. It started with $1,000 for 1 coin. Already in June, it was $2,600. By the beginning of September, the price jumped to $5,000 per 1 BTC. On December 17, the Bitcoin price achieved a record and was over 20,000 US dollars.

How did this happen? Here are some reasons that experts point due to the growth of Bitcoin price:

  • In 2017 social media broadcasted a lot of information about Bitcoin and the blockchain system;
  • China resumed cashout of bitcoins from the Chinese cryptocurrency exchanges;
  • In December 2017, the United States officially allowed trading futures for Bitcoin;
  • The number of companies and people who were buying BTC increased as they considered Bitcoin the profitable investment and etc.
However, later in December, the price plummeted from 20 000 dollars to 12 000 dollars. Experts had different reasons including that one of the first cryptocurrency creators sold out all his digital savings and called such investments too risky.

2018

During the first 4 months of 2018, the price of BTC dropped below 7,000 USD. These negative dynamics were quite logical because the rise is always followed by the fall. For the first time since October 2017, the Bitcoin price fell below 6,000 dollars. On November 25, the price of Bitcoin fell even lower – $3,676 per 1 BTC. By mid-December, the bitcoin rate fell by almost 80% to its yearly rate, the price was $3,200.

Nowadays

What can we expect in 2019? What Bitcoin price predictions do crypto experts have? People hope that 2019 will bring new opportunities for Bitcoin and also other cryptocurrencies. Some investors and crypto enthusiasts predict that the BTC price will grow to 40 – 50,000 USD by the end of 2019. One of them, John McAfee, is assured that the price will rise to 1 million dollars by the end of 2020. He even had a bet that he posted in his Twitter saying that he would eat his “love muscle” if his BTC price prediction will not come true.

There may be a number of factors that can influence the BTC price in 2019. They are:

  • Nasdaq, the world’s second largest exchange plans to launch futures for Bitcoin;
  • Coming out of the first crypto-ETP in the world;
  • and many other unpredictable factors that can change the price of Bitcoin.
As it was said before, Bitcoin price predictions are almost like the weather forecast – you never know what price it will have tomorrow. If you think about investing in BTC or any other cryptocurrency you should follow its rate at present time but never forget to compare it to the past. But please, don’t bet to eat any of your body parts 🙂

Feel free to follow our updates and news on Twitter, Facebook, Reddit, Telegram and BitcoinTalk.
Read what the customers say about SimpleSwap on Trustpilot.
Don’t hesitate to contact us with any questions you may have via [[email protected]](mailto:[email protected]).
submitted by SimpleSwapExchange to CryptoCurrencyTrading [link] [comments]

How the Bitcoin price was changing

How the Bitcoin price was changing
Nowadays, the Bitcoin currency rate perhaps is the most unpredictable thing. All predictions about how BTC price will increase or drop are in some way similar to the weather forecasts. No one can tell what will happen to the coin tomorrow. One of the most important factors that experts rely on is the history of the currency rate over the whole period of BTC existence with its dynamics. It is essential to know what was happening to the coin as this allows you to understand what can happen to it in the future.

2009

The first digital currency – Bitcoin – came to the world on January 9, 2009. In the same month, the creator of Bitcoin mined the first block and he also made the first financial operation in the BTC system.

At the beginning of its history, the Bitcoin price was ridiculously low. The first exchange of BTC to US dollars was made in the summer of 2009 when Martti Malmi received 5.02 USD for his 5050 Bitcoins.

The first official Bitcoin exchange rate to the fiat dollar was established on October 9, 2009. At that time, for 1 dollar you could buy 1 309.03 BTC. Many people now regret that they missed the opportunity to buy Bitcoin for pennies.

2010

In 2010, events in the cryptocurrency market began to develop more intensively. The Bitcoin Market exchange was opened in February 2010, where it was possible to sell the digital coin. In May of this year, the most well-known deal with Bitcoin had happened. The programmer Laszlo Hanyecz bought 2 pizzas for 10,000 BTC. It was the first purchase using cryptocurrency in the real world. He posted a request on the crypto forum saying that he wanted to buy two pizzas. In exchange for that, he offered 10K Bitcoins that back then cost about 40 dollars. And there was a person who agreed to have this deal – it was the 19 years old Jeremy Sturdivant. Jeremy didn’t become a millionaire since then as he spent his coins to travel across the USA.

As for Laszlo, he doesn’t regret about the lost millions. He was mining coins for his pleasure at that time and spent them to different non-significant things.

The two pizzas bought by Laszlo
In July of 2010, BTC price raised to 0.08 dollars. Then in November, the price went up for 50 percent. In general, 2010 was an excellent period for strengthening the position of Bitcoin. The digital currency was almost able to reach the point of one dollar.

2011

BTC overcame the point of 1 dollar only in February of 2011. By early June, the price had grown to 10 dollars. This was a small victory for Bitcoin. Another maximum was set at the point of $31.91. In the middle of June 2011, there was a sharp drop in price: from 31.91 again to 10 dollars.

The year 2011 was full of negative events. One of them happened on June 13, when a user’s electronic wallet was first hacked and 25 thousand coins were stolen from there. In a few days, some geeks hacked MtFox exchange where they got data of sixty thousand users. These events negatively affected the Bitcoin rate. It became clear that in the future the price of digital currency will be determined taking into consideration any events that occur in the market.

2012

In 2012, the exchange rate was ranging from 8 to 12 dollars per 1 BTC. This period was also rich in significant events. One of them is that Bitcoin Central bank began its work. This bank received a license and was even recognized by European regulators.

2013

February 22, 2013, was the day when Bitcoin began to grow again. The price reached the mark of $30. Another increase occurred at the end of January – $31.9. The upward trend continued. March 22 rate was 74.9 dollars per BTC.
On the first day of April, the price went up to $100 and within another nine days, the BTC price grew to 266 dollars. But the growth did not last long. By October it was $109. The possible reason for that is the arrest of an anonymous trading platform Silk Road.
Since November 2013, the price of Bitcoin began to grow anew. By the end of the month, the price exceeded all expectations and raised up to $1,200 per coin. The reason for overcoming the $1,000 point was the BTC support by Zynga game creator. Experts also noted another event that could affect the growth: one of the higher education institutions in Cyprus started accepting the Bitcoin as payment for tuition.
But by the end of the first week of December, the price was 1,000 dollars. In the middle of December 2013, the BTC price dropped to 600 dollars because the China Central Bank prohibited the country’s financial institutions to maintain operations with cryptocurrency.

The Bitcoin price chart in November, 2013

2014

During the year 2014, there happened rather a significant amount of events that had an impact on the Bitcoin volatility. In the first days of January, 1 BTC was equal to 770 dollars. In February it was 700 dollars. Summer 2014 slightly strengthened the reputation of the cryptocurrency.

Many experts think that it was 2014 when BTC strengthened its position in the market, in spite of the fact that Bitcoin price was low – by the end of the year it settled in at around 310 dollars. In 2014 investors began to consider Bitcoin as a potential investment as Bitcoin price predictions seemed quite attractive.

2015

At the beginning of 2015, the BTC price started rising: with 177 dollars in January to 281 dollars to March. The number of people who were trading Bitcoin increased – there were about 160,000 people was buying and selling BTC on exchanges by August 2015. In one period of 2015 the Bitcoin price grew up to 500 dollars, but to the end of 2015, it dropped to about 350 USD.

2016

In 2016, Japan declared Bitcoin as a currency and allowed to use it to pay for goods and services. South Africa was the next who did the same. In April 2016, BTC rate went up and reached $454 per coin. By the end of May, 1 BTC was already worth $600. The reason for the price increase might be the growth of the number of transactions in the Chinese market. The highest price in 2016 was in December – $950 for one Bitcoin.

2017

The year of 2017 was an incredible period in respect of BTC price. It started with $1,000 for 1 coin. Already in June, it was $2,600. By the beginning of September, the price jumped to $5,000 per 1 BTC. On December 17, the Bitcoin price achieved a record and was over 20,000 US dollars.

How did this happen? Here are some reasons that experts point due to the growth of Bitcoin price:
  • In 2017 social media broadcasted a lot of information about Bitcoin and the blockchain system;
  • China resumed cashout of bitcoins from the Chinese cryptocurrency exchanges;
  • In December 2017, the United States officially allowed trading futures for Bitcoin;
  • The number of companies and people who were buying BTC increased as they considered Bitcoin the profitable investment and etc.

However, later in December, the price plummeted from 20 000 dollars to 12 000 dollars. Experts had different reasons including that one of the first cryptocurrency creators sold out all his digital savings and called such investments too risky.

2018

During the first 4 months of 2018, the price of BTC dropped below 7,000 USD. These negative dynamics were quite logical because the rise is always followed by the fall. For the first time since October 2017, the Bitcoin price fell below 6,000 dollars. On November 25, the price of Bitcoin fell even lower – $3,676 per 1 BTC. By mid-December, the bitcoin rate fell by almost 80% to its yearly rate, the price was $3,200.

Nowadays

What can we expect in 2019? What Bitcoin price predictions do crypto experts have? People hope that 2019 will bring new opportunities for Bitcoin and also other cryptocurrencies. Some investors and crypto enthusiasts predict that the BTC price will grow to 40 – 50,000 USD by the end of 2019. One of them, John McAfee, is assured that the price will rise to 1 million dollars by the end of 2020. He even had a bet that he posted in his Twitter saying that he would eat his “love muscle” if his BTC price prediction will not come true.

There may be a number of factors that can influence the BTC price in 2019. They are:
  • Nasdaq, the world’s second largest exchange plans to launch futures for Bitcoin;
  • Coming out of the first crypto-ETP in the world;
  • and many other unpredictable factors that can change the price of Bitcoin.

As it was said before, Bitcoin price predictions are almost like the weather forecast – you never know what price it will have tomorrow. If you think about investing in BTC or any other cryptocurrency you should follow its rate at present time but never forget to compare it to the past. But please, don’t bet to eat any of your body parts 🙂

Feel free to follow our updates and news on Twitter, Facebook, Reddit, Telegram and BitcoinTalk.Read what the customers say about SimpleSwap on Trustpilot.Don’t hesitate to contact us with any questions you may have via [[email protected]](mailto:[email protected]).
submitted by SimpleSwapExchange to CryptoNews [link] [comments]

Rewriting history: Greg Maxwell is claiming some of Gavin's earliest commits on Github

Some recent history
Yesterday, I noticed that someone thought that Greg is one of the earliest committers on Bitcoin.
I looked at that page and was astonished, as Greg being an early committer on Bitcoin isn't anything I remembered about Bitcoin's history.
So I dug through the earliest commits in the actual git and not the github page, and it turns out that Greg is clearly not one of the earliest committers, but rather the earliest commit by sirius-m (Martti Malmi) had been, for some reason, misattributed to Greg Maxwell.
Note that this is there since a while, and for example Mike Hearn seems to have been been confused by this page as well.
I mainly suspected a misconfiguration issue. I called Greg out on reddit for letting things slide on his side, as Greg complained about misattribution in Bitcoin Classic.
It was then suggested to me to submit a bug report. And so I did. (link to current bug page)
I was surprised (to say the least) by Gregs admission (in the bug report) that he manually claimed those old commits himself!
The reason given was to make them 'non-ursurp-able' for someone else. It looks like Github allows to claim commits from old, imported git history by anyone who says that the corresponding commit-email is his or hers.
In other words:
He falsely claimed commits by others, just so that others cannot falsely claim commits.
In the bug report, I then suggested the obvious solution to anyone with half a brain: Create a special user and attribute those loose commits to that user.
That bug report has meanwhile been closed and this above 'bug' fixed. So far so good.
The new stuff
I now took some time to further browse through the early commit history, to see whether there are any other misattributed commits around.
And, indeed, I found some:
https://archive.is/4KW50
https://archive.is/SQs6o
Note that this is a different situation. Here, Greg is misattributing Gavin's commits. In contrast to sirius-m, the (already very weak) defense of 'taking creds to prevent others from taking creds' does not apply here anymore.
Because Gavin is and was on github! And he was at the time of moving to github as well. The last couple commits in SVN are from April 2011. (Link to SVN browser on Sourceforge)
Gavin's account on github is from July 2010.
This is inexcusable, and this while making invalid complaints about misattribution to the other side is absolutely ridiculous.
submitted by awemany to btc [link] [comments]

Bitcoin Core v. Bitcoin Cash

I have wrote this to clarify confusion between Bitcoin and Bitcoin Cash, and hopefully alleviate bias from this discussion.
Bitcoin Core (Bitcoin) (BTC/XBT) It should be acknowledged that Bitcoin Core is the original Bitcoin code released 2009; not 1st August 2017. The version history for Bitcoin Core can be seen [1]
“Bitcoin Core is an open source project which maintains and releases Bitcoin client software called “Bitcoin Core”.”
“It is a direct descendant of the original Bitcoin software client released by Satoshi Nakamoto after he published the famous Bitcoin whitepaper.” – [2]
For reasons, which will now become obvious, during the Bitcoin Cash hardfork, block 478558 (August 1st, 2017 about 13:16 UTC) [3], Bitcoin’s blockchain was split [4], consequently the formal name for Bitcoin’s group was seen to be used more frequently; Bitcoin Core. This now results in two blockchains, Bitcoin Core and Bitcoin Cash. It would be worth taking some time to read [5], as I have seen stating “Bitcoin Core has only one team”, and despite this being true, it’s a skewed detail of how that team operates with the community.
Bitcoin Cash (BCash) (BCH) “Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.” – [3] “Yes. Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.” – [3]
It should be noted as specified above, Bitcoin Cash is intended as digital cash, which Bitcoin Core prior to the August hardfork, (SegWit and Lightening Network) was incapable of feasibly being used as digital cash like DASH. The context of digital cash I am referring too is instore transactions, where confirmation needs to be within several seconds.
Bitcoin Cash increasing the block size from Bitcoin Core’s 1MB block to 8MB blocks. “The legacy Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second.” – [3]. This should be acknowledged as partly true, as the block size consists of different data, which can range in size. Hence the number of transaction can be seen to range from 3.3 – 7 transactions per second. – [9]. Regardless this is still a potential bottleneck which was seen too cause much higher TX fees in 2017.
BCash This has caused much debate, whether it should be called BCash or Bitcoin Cash. The argument for using BCash is that new users to the cryptocurrency community will not understand the difference between Bitcoin and Bitcoin Cash when purchasing via Coinbase. There is a debate that the name Bitcoin Cash is preferred by Roger Ver instead of BCash for reasons of branding; where Bitcoin is a recognised name. [6] Do your own due diligence and form your own opinion regarding Bitcoin Cash v BCash.
What is the difference between Bitcoin.org and Bitcoin.com? Bitcoin.org “Bitcoin.org was originally registered and owned by Bitcoin's first two developers, Satoshi Nakamoto and Martti Malmi. When Nakamoto left the project, he gave ownership of the domain to additional people, separate from the Bitcoin developers, to spread responsibility and prevent any one person or group from easily gaining control over the Bitcoin project.” – [7] iascah Reddit.
Bitcoin.com “Bitcoin.com is your premier source for everything Bitcoin related. We can help you buy bitcoins, choose a bitcoin wallet. You can also read the latest news, or engage with the community on our Bitcoin Forum. Please keep in mind that this is a commercial website that lists wallets, exchanges and other bitcoin related companies. Are you interested in to work for Bitcoin.com? Click here to see our current opportunities.” - [8]
Conclusion Do your own due diligence and do not become influence by FUD (fear uncertainty and doubt) and FOMO (fear of missing out). Bitcoin has done well in the white paper [10] idea of ‘solving the double spending problem’, by using a decentralised public blockchain. Too which is now adopted by many other cryptocurrencies which seek to improve on features Bitcoin lacks, or features Bitcoin was not intended for, but blockchain technology has made possible. Features which Ethereum (smart contracts), Dash (digital cash) and Monero (privacy oriented transactions) added into the cryptocurrency community, making this community stronger with open source solutions.
Regardless of how people feel about Bitcoin now it has definitely been a milestone towards wider adoption of blockchain technology globally. Even in the context of having a decentralised blockchain.
References: [1] - https://bitcoin.org/en/version-history. [2] - https://bitcoincore.org/en/about/ [3] - https://www.bitcoincash.org/#faq [4] - https://www.investopedia.com/terms/h/hard-fork.asp [5] - https://bitcoincore.org/en/team/ https://www.reddit.com/Bitcoin/comments/78xe3e/whats_the_difference_between_bitcoincom_and/ [6] Roger Ver Rage Quit Interview - https://www.youtube.com/watch?v=oCOjCEth6xI [7] - https://www.reddit.com/Bitcoin/comments/78xe3e/whats_the_difference_between_bitcoincom_and/ [8] - https://www.bitcoin.com/about-us [9] - https://www.cryptocompare.com/coins/guides/what-is-the-block-size-limit/ [10] - https://bitcoin.org/bitcoin.pdf
submitted by bellmittens to Bitcoincash [link] [comments]

The first reddit outtake from Digital Gold: newly unearthed emails from Satoshi in 2009 about what it would take for Bitcoin to catch on

This is a bit of an experiment: the first reddit outtake from Digital Gold, the story of Bitcoin, which I’m releasing with HarperCollins on May 19.
In the run up to the book’s release, I’m seeing how it works to post exclusive material to bitcoin — stuff that ended up on the cutting room floor but that should be fascinating for people steeped in Bitcoinia. I will also be putting up fun facts from the book on my Facebook page and Twitter.
This email exchange from 2009 occurred eight months after Bitcoin was initially released, early in the story of Digital Gold. The Finnish college student Martti Malmi was one of the few people helping Satoshi Nakamoto to keep the system up and running. Bitcoins themselves were worth essentially nothing at the time. The lack of interest kicked off this conversation in August 2009 about what Bitcoin might need to grow. Thanks to Martti for sharing this, and a lot of other stuff about those early days.
Satoshi: It would help if there was something for people to use it for. We need an application to bootstrap it. Any ideas?
Martti: I've been thinking about a currency exchange service that sells and buys bitcoins for euros and other currencies. Direct exchangeability to an existing currency would give bitcoin the best possible initial liquidity and thus the best adoptability for new users. Everyone accepts payment in coins that are easily exchangeable for common money, but not everyone accepts payment in coins that are only guaranteed to buy a specific kind of a product.
Satoshi: That would be more powerful if there was also some narrow product market to use it for. Some virtual currencies like Tencent's Q coin have made headway with virtual goods. It would be sweet if there was some way to horn in on a market like that as the official virtual currency gets clamped down on with limitations. Not saying it can't work without something, but a ready specific transaction need that it fills would increase the certainty of success.
Martti: At its simplest this exchange service could be a website where traders, who can be individual persons, can post their rates, and random users can leave trade requests. Some kind of an average rate estimate could be shown on the site. Small-scale trading by individuals would be outside legal hassle in most countries, and putting all the eggs in the same basket would be avoided.
Satoshi: Basically like an eBay site with user reviews to try to establish which sellers can be trusted. The escrow feature will help but not solve everything. It would be far more work to set up such a site than just to set up a single exchange site of your own, and there won't be enough users to make it go until later. I'm thinking it wouldn't make sense to make an eBay type site until later.
Martti: Another idea, which could be additional to the previous one, would be an automated exchange service. The service would automatically calculate the exchange rate and perform the transactions. This would be nicer to the user: completion of the transaction request would be certain and instantaneous. Making this service might actually be quite easy if there was a command line interface to Bitcoin: just take any web application framework and use PayPal back-end integration to automatically send euros when Bitcoins are received, and vice versa. This kind of business would also work great on larger scale if you set up a company and take care of all the bureaucracy needed to practice currency exchange. (I actually have a registered company that I've used for billing of some IT work, I could use that as a base.)
Satoshi: Even if you had automation, you'd probably want to review orders manually before processing them anyway. It wouldn't be hard to process orders by hand, especially at first. You could always set a minimum order size to keep orders more infrequent.
I’m hoping the community here can help get the word out about Digital Gold. The best way to help is to pre-order the book either on Amazon or on Overstock if you want to pay with Bitcoin.
submitted by nathanielpopper to Bitcoin [link] [comments]

Bitcoin: The Rise and Fall or There and Back Again

(A long-winded history of Bitcoin's journey towards its prominense)
A great deal of things that are common place today used to be basically unthinkable. Unified cryptographic currency was devised by sci-fi and cyberpunk authors in the XX century ("Credits" in various sci-fi and cyberpunk novels). That being said,the first protocol of “digital money” was proposed by two cryptography scientists, David Chaum and Stefan Brands, in 1982, and Wei Dai described “b-money” in 1998.
As recently as 2008 the mythical Satoshi Nakamoto published the operation principle of his payment system. He created the working client code in 2009, and this makes Bitcoin only 8 years old. At first hardly anyone believed in it. Now there are over 9000! — actually over 300,000 — transactions daily!
There…
Bitcoin is famous for its striking highs and shattering lows. We could calculate its first exchange rate: In September 2009 one Martti Malmi sent to a recipient 5,050 bitcoins for 5,02 US dollars, which he got via PayPal. Thus, one dollar was equal to 1,006 bitcoins, well, or 1 BTC was equal to 0,000994 US dollar! It looks like there are too many zeros after the decimal point, such small values are way to difficult to comprehend... So, was it approximately one tenth of one cent? :-D
…and Back Again
Imagine the torment of one American guy, who paid ฿10,000for two pizzas in May 2010. In today's money they worth $80,000,000. One slice of pizza costs $5,000,000. The closest contender for the title of the most expensive pizza — Louis XIII — comes at a measly sum of $12,000!
Even more hard cheese got on the plate of James Howells — our next exhibit: In 2013 he rushed to the city landfill for his laptop as he remembered that had had there his HDD with the private key to his wallet of 7,500 bitcoins! He had mined it on his laptop in early 2009. In 2013 it cost approximately $7,500,000; this handy sum motivated him to lead an unsuccessful excavation expedition to the landfill site. In 2017 there is $60,000,000 at stake, and I bet that in 10–20 years' time some rich nob is going to buy out the whole landfill and we will see the dirtiest dig for the filthiest amount of bitcoins!
A trip down memory lane
Well, let us have our dig and unearth Bitcoin's highs and lows for the first 8 years of its life. On the day of creation, i.e.
05.10.2009
official exchange rate was the following: $1 = ฿1,309,03 (so ฿1 = $0,00076). Back at that time there was no need in satoshi (one-hundred-millionth of a bitcoin); mining was hardly worth the wear and tear of hardware and electricity bills...
Mid 2010:
$0.08 = ฿1
Late 2010:
$0.5 = ฿1
2011:
09.02.2011:
$1 = ฿1
02.06.2011:
$10 = ฿1
09.06.2011:
$31.91 = ฿1
12 June 2011 — a steep decline to $10.
Late 2011:
$10 = ฿1
2012—relative stability in the $8–14 band for ฿1
2013:
28.02.2013
$31.91 = ฿1
22.03.2013 — a noticeable growth:
$74.90 = ฿1
10.04.2013 — another noticeable growth:
$266 = ฿1
02.10.2013 — a steep decline to:
$109.71 = ฿1
06.11.2013 — a rapid rise to:
$269 = ฿1
17.11.2013 — another rapid rise to:
$503.1 = ฿1
Late November 2013: another rise to $1,242 for ฿1!
Then Bitcoin became really jerky:
02.12.2013 — a steep decline to $1,000 for ฿1,
17.12.2013 — a two-fold decline to less than $600 for ฿1!
2014:
was one of the most unsuccessful years for Bitcoin — it had been on decline nearly all year... The only rise it had all year fell on 1–5 January when Bitcoin rose from $770 to $950, and then, in early February, it fell back to 700 greenbacks. And that was just a beginning of the steady decline — by the end of December, it lost the foothold and fell as low as $310, that is, three times its highest (at that time) rate!
2015:
Bitcoin is still jerky: In mid-January, the rate had reached a new low of $177. However by 3 March it gradually rose to $281. The growth continued until October 2017 and exceeded $500, but went down a little bit in December to the $355–380 band. On December 16, 2015, Bitcoin's exchange rate grew to $455.99, and then sagged again.
2016:
Bitcoin exchange rate chart looks quite steady: It started with $500 in January; by 15 June it reached $768, then went down a bit, then continued its growth to a grand for one BTC!
2017:
is phenomenally good for Bitcoin. But itsvolatilityhas been shown in all its glory! Judge for yourself:
02.01.2017 ฿1 = $1,017
12.01.2017 ฿1 = $810
04.03.2017 ฿1 = $1,264
11.05.2017 ฿1 = $1,819
24.05.2017 ฿1 = $2,445
27.05.2017 ฿1 = $2,052
11.06.2017 ฿1 = $2,973
15.06.2017 ฿1 = $2,442
20.06.2017 ฿1 = $2,754
16.07.2017 ฿1 = $1,914
20.07.2017 ฿1 = $2,866
26.07.2017 ฿1 = $2,559
14.08.2017 ฿1 = $4,327
21.08.2017 ฿1 = $4,005
01.09.2017 ฿1 = $4,921
14.09.2017 ฿1 = $3,243
18.09.2017 ฿1 = $4,100
22.09.2017 ฿1 = $3,617
20.10.2017 ฿1 = $5,993
24.10.2017 ฿1 = $5,513
08.11.2017 ฿1 = $7,444
12.11.2017 ฿1 = $5,848
17.11.2017 ฿1 = $8,040
And, as analysts has predicted, Bitcoin will easily take the next milestone — $10,000 — at the end of this year or in the beginning of the next one! So, no matter how jerky Bitcoin is a lot of people would like to take a bite out of its crypto-yumminess! Those who have passed on that treat will bite their nails later. Even if you want to buy, say, a giant rubber duck.
In a few years you can buy MANY — due to the enormous growth of Bitcoin!
Author: Dickinson-Junior
submitted by Dickinson-Junior to Bitcoin [link] [comments]

ERA Media - YouTube Bitcoin 2014 interviews - YouTube Bitcoin 2014 conference - Interviewing Martti Malmi - YouTube Bitcoin 2014 conference - Summary Korporaatiokooste vko 19

Wenn Satoshi Nakamoto der Vater von Bitcoin ist, dann war Martti „Sirius“ Malmi dessen Ziehmutter: Bereits im Jahr 2009 schloss er sich Nakamoto an, um den noch jungen Bitcoin-Code weiterzuentwickeln und trug unter anderem maßgeblich zu dessen zweiter Version bei. Die Zusammenarbeit mit Satoshi Nakomoto war so eng, dass Malmi zwischenzeitlich sogar Administratorrechte für Bitcoin.org ... Malmi had an important role in the early days of bitcoin back in 2009 when he was still an amateur college developer. He worked side by side with Satoshi as the only active developer. Satoshi trusted him enough to have an admin access to Bitcoin.org. On that note, he was credited for nearly all the changes in the second code release of bitcoin. News: SMF - Just Installed! Swiftcoin Forum » Swiftcoin » ... In 2012 after helping develop the Bitcoin eCurrency, Martti Malmi joined Pyry Lehdonvirta’s company SC5, to help them develop HTML5. HTML5 is a markup language for structuring and presenting content for the World Wide Web and a core technology of the Internet. HTML5 is currently under development as the next major revision of ... Martti Malmi – an early Bitcoin developer who first discovered the cryptocurrency in April of 2009 – rebuked a report claiming that there are only a few people who could own the wallet. “Nope. Bitcoin was announced on the cryptography mailing list in January 2009 and many people could have tested it. I found Bitcoin around April,” he explained. If History Repeats, BTC Could See a Rally ... Not much later, one of the participants, Martti Malmi tried to provide Bitcoin with some sort of identifiable financial value, selling a colleague a juicy 5050 BTC for a fiver, the example we referred to in the beginning: In the very first recorded transaction of bitcoin for United States dollars, Martti sent NewLibertyStandard 5,050 bitcoins to use for seeding the new exchange. In return ...

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ERA Media - YouTube

Korporaatiossa vieraili Olli Rehn, Erkki Palviainen, Martti Malmi, Lisa Sounio-Ahtisaari ja Maria Ekman-Kolari. Katso tapahtumarikas kooste! Skip navigation Sign in. Search Henry Brade from Bittiraha.fi sums up the Bitcoin 2014 conference. Here are the links for the full interviews: Martti Malmi, first developer after Satoshi: h... The Future of Bitcoins by Martti Malmi (Bitcoin developer) at Slush 2014. Martti Malmi is the first developer of Bitcoin after its creator Satoshi Nakamoto and a coder with a passionate focus on ... All our interviews from Bitcoin 2014.

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