Bitcoin appeared in the electronic world fifteen years ago. This cryptocurrency has become the most popular to date. After a short time, the exchange rate of coins started to rise dramatically sometimes, thus showing incredible records. But, sometimes, it has also decreased sharply. Even today, many experts are debating the prospects for this currency.

Despite this, some people became millionaires in a matter of hours. At the same time, others lost significant amounts of money in the same short time. In 2014, a billionaire and prominent American investor named Warren Buffett argued that Bitcoin is just a mirage we should avoid.

Bitcoin history

On October 31, 2008, an anonymous developer or even a group of developers under one nickname (Satoshi Nakamoto) posted an article detailing how cryptocurrency functions. In this article, he described how electronic money would help people make online payments directly in the future. In other words, one user will send money to the other one.

At the same time, there will be no platforms or capabilities of any financial institutions. In actual practice, this meant only the future creation of a new and unique payment system that would give all users the most accessible access. The most important thing here is that users and their money get no control from the central banks of the state.

However, according to the reality in each country, implementing this idea still has difficulties even today. However, given the lack of total anonymity when using Bitcoin, you can still achieve this by using unique mixers, such as platforms, to help users hide their savings from outsiders, such as intruders or government services.

Such bitcoin mixers as are pretty popular today. If you start using this, you can fully secure your cryptocurrency wallets so that no fraudsters can access them.


10000 coins for pizza

Months after Nakamoto’s triumphant appearance and after his article’s publication, all users could take advantage of the first bitcoin. It was the primary block on which fifty virtual coins were stored. This block was called the genesis block. All new blocks gradually joined this genesis, and this method became actual. Later, blockchain technology became ubiquitous in different countries. This is the thing that underlies cryptocurrency.

People made Bitcoin’s first payment only a year after its creation. A Florida resident paid a pizza courier for a cryptocurrency: he gave ten thousand coins for two pizzas (41 dollars that year). However, years later, Bitcoin remained an unusual currency to pay for purchases and services. Cybercriminals were the first users to appreciate the benefits of virtual money.

They bought illegal and illegal goods and stole cash in this way. But, in 2013, Bitcoin increased to thousands of dollars per coin, and users began showing great interest in this payment type. Paying with this cryptocurrency has become a standard method in some countries.

Bankruptcy and record

Central banks’ views on cryptocurrency are different. Some call it a snowball, while others speak of enormous potential. So far, the only colossal crisis has occurred at the beginning of 2014 connected with Bitcoin. Then, hackers hacked Mt. Gox, a trading platform that produces 80 % of all virtual coins worldwide.

The scammers managed to steal over $477 million in cryptocurrencies. This exchange declared bankruptcy after that, and it caused Bitcoin itself to fall. In 2017, a new tipping point for cryptocurrency came. Then, the exchange rate of this currency increased twenty times in the shortest possible time. The maximum Bitcoin exchange rate was $19,500 per coin.