Ismail Musbaudeen

Bitcoin is the world’s first decentralized digital currency. It was introduced in 2008 by the pseudonymous creator Satoshi Nakamoto and launched in January 2009 with the mining of the genesis block. It enables peer-to-peer electronic cash transfers without the need for banks or intermediaries. It was the first of its kind which ushered in aera of non-believers.

The domain bitcoin.org was registered on August 18, 2008. Later, on October 31, 2008, a link to the white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” written by Satoshi Nakamoto, was shared on a cryptography mailing list. To this day, Nakamoto’s true identity remains a mystery.

On 13 January 2009, Hal Finney received the first bitcoin transaction: ten bitcoins from Nakamoto. The first commercial transaction using bitcoin occurred when programmer Laszlo Hanyecz bought two Papa John's pizzas for ₿10,000, in what would later be celebrated as "Bitcoin Pizza Day" which is May 22, 2010.

Here are the common reasons why people generally invest in Bitcoin:

High Return Potential – Many investors are attracted to Bitcoin because of its history of significant price growth and the possibility of strong future returns. Many people that supported bitcoin or mined bitcoin very early are all millionaires cuurently.

Long-Term Growth – Supporters believe that as adoption increases, Bitcoin’s value will continue to rise over the years. A lot of people have analysed a crash to $0 for $BTC but it keeps on breaking new All Time High ever since.

Decentralization – Unlike traditional currencies, Bitcoin is not controlled by any government or central bank, giving investors more financial independence.

Global Accessibility – Bitcoin can be sent or received anywhere in the world, making it appealing for cross-border transactions and global participation.

Portfolio Diversification – Many investors add Bitcoin to their portfolios as an alternative asset class to balance traditional investments.

Scarcity & Demand – The fixed supply combined with increasing institutional and retail demand creates the perception of long-term value. It has a fixed supply of 21 million.

First “price” (calculated): $0.00076 (2009).
First sale: $0.00099 (2009).
First “real-world use”: $0.0041 (2010, pizza).
First major milestone: $1 (2011)

#BitcoinBasics
@Binance South Asia