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The History of Bitcoin Bitcoin, the world’s first cryptocurrency, has revolutionized finance and sparked a global movement toward decentralized digital assets. Its history is deeply intertwined with cryptography, economics, and a vision for a money system free from government and institutional control. --- 1. The Genesis of Bitcoin (2008–2009) The story begins during the 2008 global financial crisis. On October 31, 2008, a person or group using the pseudonym Satoshi Nakamoto published a white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper proposed a decentralized digital currency that allowed direct transactions between users without intermediaries like banks. On January 3, 2009, Nakamoto mined the genesis block (Block 0) of the Bitcoin blockchain. Embedded in it was the message: > “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” This was likely a reference to the financial instability at the time and a critique of central banking. --- 2. Early Adoption and Growth (2010–2012) First Transaction: In May 2010, programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas—marking the first real-world Bitcoin transaction. Today, this event is celebrated annually as Bitcoin Pizza Day. Exchanges and Services: Bitcoin exchanges like Mt. Gox launched in 2010, allowing people to trade Bitcoin for fiat currency. By 2011, Bitcoin reached parity with the US dollar (1 BTC = $1). Dark Web and Controversy: In 2011, Bitcoin gained notoriety due to its use on Silk Road, an online black market. This association with illicit transactions attracted the attention of governments and regulators. --- 3. Crashes, Hacks, and Regulation (2013–2016) Mt. Gox Collapse: In 2014, Mt. Gox—handling over 70% of Bitcoin transactions—was hacked, and 850,000 BTC were lost. This was a major blow to trust in the ecosystem. Price Fluctuations: Bitcoin’s price saw rapid spikes and crashes. In late 2013, it hit $1,000 for the first time before plummeting again. Regulatory Responses: Countries began addressing the legal

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5 years ago I didn't even heard about crypto

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