What is bitcoin?
Bitcoin technology uses point-to-point to operate without the need for a central authority or database; transactions with bitcoins are managed collectively by Bitcoin network.The users is open source, its design is public, no one owns or controls the Bitcoin and anyone can participate. Through its various and unique features, the Bitcoin network allows interesting uses unavailable in previous payment systems.
History
Since 2008, bitcoin adoption has been influenced by a diverse range of factors that have made it one of the most volatile currencies in the world. Yet, despite such volatility, more than 100,000 bitcoin transactions are taking place per day and the volume continues to grow due to the ‘permissionless innovation’ provided by bitcoin’s underlying technology, the blockchain.
As the blockchain matures, bitcoin will increasingly resemble traditional financial services, with functions such as retail banking (Circle), exchanges (Coinbase) and payment processors (bitnet) being created. But how did it all start off, and where will it go next? Here, we take a brief overview of the major milestones in the cryptocurrency’s brief history and look to where it might be headed in the future.
August 2008
Three individuals, Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application. All three individuals deny having any connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept. The three also register the site Bitcoin.org in the same month, over on anonymousspeech.com – which allows people to buy domain names anonymously.
January 2009
The first block, nicknamed ‘Genesis’ is launched allowing the initial ‘mining’ of Bitcoins to take place. Later that month, the first transaction takes place between Satoshi and Hal Finney, a developer and cryptographic activist.
October 2009
Bitcoin receives an equivalent value in traditional currencies. The New Liberty Standard established the value of a Bitcoin at $1 = 1,309 BTC. The equation was derived so as to include the cost of electricity to run the computer that created the Bitcoins in the first place.
Today 2016
Today bitcoin price here: www.preev.com
source: http://thenextweb.com/insider/2015/03/29/a-brief-history-of-bitcoin-and-where-its-going-next/#gref
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