Bitcoin officially launched one year later, in 2009, when Satoshi Nakamoto mined the first Bitcoin block. The Bitcoin White Paper stands as a defining point in time and now marks Bitcoin’s birth date.
Today, Bitcoin trades at around 8275 Canadian Dollars (that’s 6420 USD). That’s the highest all-time value since its inception 9 years ago. Needless to say, Bitcoin’s been through some hard times.
At first people were skeptical, however slowly but surely, users started to understand and trust the Blockchain technology behind Bitcoin and more and more people adopted it as an alternate to the fiat currencies we use in our every day lives.
It’s safe and it’s instant.
You can send any amount of Bitcoin all over the world and the recepient would get it instantly. You don’t need a third party like a bank to do this.
Companies like Subway, Wikipedia and Microsoft now all accept payments in Bitcoins and by the end of this year you’ll easily be able to book a flight and pay for it with Bitcoin.
Many cryptocurrencies developed after Bitcoin, some of the more popular ones are Ethereum and Litecoin.
We will cover more on Bitcoin’s history, its use, hard forks and how it changed the world in coming posts, but we couldn’t leave this date pass by without wishing Bitcoin a Happy Birthday.
Remember, 9 years ago, millions of lives and our financial system began to change as we know it!