On January 3, 2009, the official launch of the Bitcoin cryptocurrency network took place. An unknown group of developers called Satoshi Nakamoto was involved in the extraction of the BTC genesis block. A couple of months after the launch of the network, the whitepaper of the very first cryptocurrency was published. Bitcoins prospects at that time seemed very dubious. At the very beginning of its journey, the coin attracted the attention of only fans of digital money; mining was also not popular.

Until today, both the motives behind the creation of bitcoin and the personality of Satoshi Nakamoto are unknown. They are working to uncover this secret not only directly in the crypto community, but also far beyond it. The search for the creator of the first world cryptocurrency does not stop. The number of versions is added annually. Many are interested in the questions whether he was in fact a libertarian, what was the purpose of developing the coin, what were the political motives. A particularly frequent question is whether he was Japanese, and also what contributed to the choice of such a pseudonym. No one doubts the fact that this is not a real name. Translated from Japanese, Satoshi means "wise or clear thinking", "naka" means "inside," and "moto" means "base." As a result, the pseudonym of the creator of the worlds first cryptocurrency may mean "clear thinking within the framework."

The hash of the genesis block of this cryptocurrency contains the title of one article from the popular periodical The Times in the UK, so there is an assumption that the developers come from this particular country. Despite everything, it is safe to say that Bitcoin received a new round of development due to the disappearance of the developer, because at that moment this community was deprived of a leader who was engaged in prescribing further actions. As a result, the Bitcoin protocol faced long and rather serious tests regarding censorship resistance. It should be noted that all the obstacles were successfully overcome.

It is believed that the main stimulating factor contributing to the creation of the worlds first coin could be the great financial crisis that began in 2007-2008. It was accompanied by an absolute fiasco of many banks, a decrease in production volumes and a significant decline in demand for various goods, a decrease in their value. In addition, there was a shortage of jobs and there was a fairly active intervention of government agencies in the economy.

On January 12, 2009, a Bitcoin transaction occurred for the first time. At that time, Satoshi Nakamoto sent 10 altcoins to Hal Finney. Just three days before this event, the release of the Bitcoin software version 0.1 was released. Already in July 2010, the first rally in the price of the coin took place. Bitcoin price has increased from $ 0.0008 to $ 0.08. Since then, the price of bitcoin has skyrocketed to reach 9 million percent. The rise in the cost of gold over this period of time is noted by only 25 percent.

Today, you can buy bitcoin at a rate that is approximately $ 7,000 per coin. At the same time, the capitalization of the flagship of the cryptocurrency market is approximately USD 131 million.

Features and Benefits

The following main advantages of financial assets should be highlighted:

transactions are carried out directly between users, completely regardless of their location;
everyone can get access to the network;
no centralized control;
absolute confidentiality of transactions is guaranteed;
maximum security of the system itself.
The bitcoin blockchain is reliable, this coin is considered the most promising today, and experts predict an excellent future for it. Despite the fact that the number of players has rapidly increased in the modern cryptocurrency market, leading exchanges offer to buy bitcoin. Displacement of the main digital currency from the leading place in world rankings is currently an unattainable task.

Due to the rapid growth in the popularity of the coin, many users had to face some inconveniences when conducting transactions, among which a long wait for the implementation of monetary transactions plays an important role. For this reason, developers have been actively working to find ways to modernize the network. The result was the emergence of offshoots of the platform that became relatively independent. Bitcoin has been on the market for over ten years, which is quite a long time. During this period, the coin has become a significant player in the financial arena, which boasts a billion-dollar capitalization and a high price.