Bitcoin: full history of bitcoin and Satashi nakamoto

 BITCOIN: THE NEXT BIG THING

       Bitcoin was invented by mysterious man or group called Satoshi Nakamoto who published the invention on 31 October 2008 in  a research paper called "Bitcoin: A Peer-to-Peer Electronic Cash system". It was implemented as open source code and released in January 2009.

         One of the first supporters, adopters, contributor to bitcoin and receiver of the first bitcoin transaction was programmer Hal Finney. Hal Finney was an a computer scientist he downloaded bitcoin software on its first day of existence and got 10 bitcoins rewarded by Satoshi Nakamoto and it was the first bitcoin transaction.

Blockchain analysts estimate that Nakamoto had mined about one million bitcoins^[93] before disappearing in 2010 when he handed the network alert key and control of the code repository over to Gavin Andresen. 

    Gavin Andresen is a software developer. Originally a developer of 3D graphics and virtual reality software, Andresen became involved in developing products for the bitcoin market in 2010, and was declared by Satoshi Nakamoto as the lead developer of the reference implementation for bitcoin client software after Nakamoto announced their departure.

      The first major users of bitcoin were black markets, such as Silk Road. Silk Road was an online black market and the first modern darknet market, best known as a platform for selling illegal drugs. During Silk Road’s 30 months of existence, beginning in February 2011, Silk Road exclusively accepted bitcoins as payment, transacting 9.9 million in bitcoins, worth about $214 million.

In 2012, bitcoin prices started at $5.27, growing to $13.30 for the year. The Bitcoin Foundation was founded in September 2012 to promote bitcoin's development and uptake.

In 2013 The US Financial Crimes Enforcement Network established regulatory guidelines for "decentralized virtual currencies" such as bitcoin, classifying American bitcoin miners who sell their generated bitcoins as Money Service Businesses that are subject to registration or other legal obligations.

   In 2013 The FBI seized about ₿30,000 in October 2013 from the dark web website Silk Road, following the arrest of Ross William. Ross William was the creator of Silk Road. These bitcoins were sold at blind auction by the United States Marshals Service to venture capital investor Tim Draper. He bought 29,656 bitcoins for 18 million dollars. Today it is valued at 1.3 billion dollars.

       On 5 December 2013, the People's Bank of China prohibited Chinese financial institutions from using bitcoins. After the announcement, the value of bitcoins dropped, and Baidu China’s biggest search engine no longer accepted bitcoins for certain services. Buying real-world goods with any virtual currency had been illegal in China since at least 2009. In 2014, prices started at $770 and fell to $314 for the year.

China banned trading in bitcoin, with first steps taken in September 2017, and a complete ban that started on 1 February 2018. Bitcoin prices then fell from $9,052 to $6,914 on 5 February 2018.

Bitcoin prices were negatively affected by several hacks or thefts from cryptocurrency exchanges, including thefts from Coincheck in January 2018, Bithumb in June, and Bancor in July. For the first six months of 2018, $761 million worth of cryptocurrencies was reported stolen from exchanges.

In August 2020, MicroStrategy invested $250 million in bitcoin as a treasury reserve asset. In October 2020, Square, Inc. placed approximately 1% of total assets ($50 million) in bitcoin. In November 2020, PayPal announced that US users could buy, hold, or sell bitcoin. On 30 November 2020, the bitcoin value reached a new all-time high of $19,860, topping the previous high of December 2017.

On 19 January 2021, Elon Musk placed the handle #Bitcoin in his Twitter profile, tweeting "In retrospect, it was inevitable", which caused the price to briefly rise about $5000 in an hour to $37,299.

On 8  February 2021 Tesla's announcement of a bitcoin purchase of USD $1.5 billion and the plan to start accepting bitcoin as payment for vehicles, pushed the bitcoin price to $44,141. After 49 days of accepting the digital currency, Tesla reversed course on May 12, 2021, saying they would no longer take Bitcoin due to concerns that "mining" the cryptocurrency was contributing to the consumption of fossil fuels and climate  change. The decision resulted in the price of Bitcoin dropping around 12% on May 13. In June 2021, the Legislative Assembly of El Salvador voted  legislation to make Bitcoin legal tender in El Salvador.The law took effect on September 7.

Price of Bitcoin has of writing is 42,348.