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[Mar20]

Bitcoin is a decentralized digital currency that was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. The idea behind Bitcoin was to create a new form of money that was not controlled by any central authority or government.
The creation of Bitcoin was driven by several factors, including the global financial crisis of 2008, which led many people to lose trust in traditional financial institutions and central banks. Bitcoin was designed as a decentralized alternative to traditional fiat currencies, with a limited supply and the ability to transfer value directly between individuals without the need for intermediaries.
Bitcoin was created using a technology called blockchain, which is a decentralized ledger that records all transactions on the network. This allows for a secure and transparent record of all transactions, without the need for a central authority.
In the years since its creation, Bitcoin has become one of the most well-known cryptocurrencies and has inspired the creation of thousands of other digital currencies. Despite its volatile price and the controversy surrounding it, Bitcoin has gained significant mainstream attention and adoption, and many believe that it has the potential to change the way we think about money and finance.
Overall, the history of Bitcoin is relatively short, but it has had a profound impact on the world of finance and technology and has sparked a revolution in the way we think about money and the role of central authorities in the financial system.

 

[Margery]

Exactly. Since no one knows the exact story and the person himself didn't write the story himself, we are tend to believe whatever that we see online. But I always sure that there will be the truth behind the story of Bitcoin.

Yes, the history of bitcoin really stands true, because what happens to it cannot be changed. This is how its blockchain works, which also proved to be excellent in terms of stable operation, regardless of government agencies.

 

[btaliat]

When people lost hope in the banking sector in 2008, Bitcoin was thought of by Nakamoto. People easily bought into it because they really need to have something alternative for themselves. That's what made the growth of Bitcoin to be faster.

 

[Margery]

Yes, most likely it was the crisis of 2008-2009 that became the main impetus for the development of bitcoin and other cryptocurrencies. Even now, this crisis has not yet ended, which gives a good opportunity for people to see a normal alternative in the form of bitcoin.

 

[btaliat]

Yes, most likely it was the crisis of 2008-2009 that became the main impetus for the development of bitcoin and other cryptocurrencies. Even now, this crisis has not yet ended, which gives a good opportunity for people to see a normal alternative in the form of bitcoin.

Two incidents however made the skyrocketing of Bitcoin possible. The 2016 recession made it possible to make its first ATH around 2017. And the event of Coronavirus has really helped to make the second ATH possible.

 

[Wisdom01]

I think Satoshi nkamoto is actually the first person that embarked on the establishment of Bitcoin , his infulence and others aided Bitcoin system , I think it's the reason the development attached to Bitcoin is building

 

[BusyCat]

It is believed that Satoshi Nakamoto is the founder of Bitcoin. He founded bitcoin in 2009. He used concepts of cryptography to launch bitcoin. Then later during 2010, the first crypto exchange was launched where bitcoin could be bought or sold by the people.

 

[gammarays]

The history of Bitcoin is still masked in controversies. It might have been created by a government or private institution or individual. What we know is a figure called Satoshi Nakamoto. That doesn't matter much to me as long as I can hold some BTC

 

[Riberet19]

The history of Bitcoin is still masked in controversies. It might have been created by a government or private institution or individual. What we know is a figure called Satoshi Nakamoto. That doesn't matter much to me as long as I can hold some BTC

Well really that are theories without much foundation, for my taste if it had been created by a secret institution or government, they would not be all day pouring poison on Bitcoin or banning it in many places in the world, I simply think they are theories that people believe because the identity of the creator is not known, and it is normal, It is in human nature to speculate when something is unknown, most likely it was a normal person who made a revolutionary invention, but he decided to hide because his invention could replace the fiat currency which is controlled by the most powerful people in the world, and the consequences could be very serious.

 

[gammarays]

Well really that are theories without much foundation, for my taste if it had been created by a secret institution or government, they would not be all day pouring poison on Bitcoin or banning it in many places in the world, I simply think they are theories that people believe because the identity of the creator is not known, and it is normal, It is in human nature to speculate when something is unknown, most likely it was a normal person who made a revolutionary invention, but he decided to hide because his invention could replace the fiat currency which is controlled by the most powerful people in the world, and the consequences could be very serious.

Well I still believe it is possible. There are many government funded institutions of research. Most of them are just experiments so government might not pick much interest in it. It might also be a failed experiment initially so they'll lose interest. These might have occurred so Bitcoin was brought to public space and it was successful.

 

[Riberet19]

Well I still believe it is possible. There are many government funded institutions of research. Most of them are just experiments so government might not pick much interest in it. It might also be a failed experiment initially so they'll lose interest. These might have occurred so Bitcoin was brought to public space and it was successful.

Everything can be, really not knowing who it is yet, every hypothesis can be correct, but the issue now is that it is too large and decentralized network, and we can already say that it is in the hands of users, both holders of fractions of Bitcoin or whole Bitcoin holder and miners, so even if you knew who in Satoshi Nakamoto or anything else, I think it would have little effect, because the network has already been built in a certain way.

 

[Lens_]

When people lost hope in the banking sector in 2008, Bitcoin was thought of by Nakamoto. People easily bought into it because they really need to have something alternative for themselves. That's what made the growth of Bitcoin to be faster.

Thanks for sharing! it necessary for bitcoin to take over the traditional banking system because it is long overdue . The traditional banking system dictate to you how you're going to spend your money which is really awful.

 

[btaliat]

Thanks for sharing! it necessary for bitcoin to take over the traditional banking system because it is long overdue . The traditional banking system dictate to you how you're going to spend your money which is really awful.

That's not the only flaws of the traditional banking. It does make sure they monitor your activities on how you spend your money. Government policies as well can easily affect your money in bank. You cannot convert to stabilise it

 

[Lens_]

That's not the only flaws of the traditional banking. It does make sure they monitor your activities on how you spend your money. Government policies as well can easily affect your money in bank. You cannot convert to stabilise it

There you go again! it's another interesting point to raise because monitoring the transactions you carry out on your personal money is not really a good idea . However, with bitcoin or any other cryptocurrency, you can carry out transaction independently without monitoring from the third party.

 

[btaliat]

Bitcoin has evolved to the level that it does supply people with employment. There are many people that have gained employment through Bitcoin. This has really enhance the way people participate more in Bitcoin.

 

[Margery]

Two incidents however made the skyrocketing of Bitcoin possible. The 2016 recession made it possible to make its first ATH around 2017. And the event of Coronavirus has really helped to make the second ATH possible.

Bitcoin could represent an alternative for people looking to invest or store value in a decentralized and cryptographically secure form. Bitcoin can also be useful for those who are looking for an alternative to traditional payment methods, especially in the field of online trading.

 

[btaliat]

Bitcoin could represent an alternative for people looking to invest or store value in a decentralized and cryptographically secure form. Bitcoin can also be useful for those who are looking for an alternative to traditional payment methods, especially in the field of online trading.

In fact it has gone beyond that. Bitcoin has been a great tool for government to correct some inflation rates. There are many countries that have made used of Bitcoin by adopting it to correct their economy. Government has also seem it as a way of generating money.

 

[Margery]

In fact it has gone beyond that. Bitcoin has been a great tool for government to correct some inflation rates. There are many countries that have made used of Bitcoin by adopting it to correct their economy. Government has also seem it as a way of generating money.

For example, El Salvador became the first country to officially accept Bitcoin as legal tender in September 2021. This decision was made by the El Salvador government in the hope of improving the availability of financial services for local residents, who often face restrictions when using traditional banking services.

 

[Bigron]

Satoshi Nakamoto, a mysterious individual or group, invented Bitcoin in 2008. It is an electronic currency that uses digital encryption to verify and document transactions on the blockchain, which is a distributed ledger. The term "bitcoin" was created by fusing the words "bit" and "coin".

 

[Margery]

Due to this lack of central authority, bitcoin can be used as an alternative to traditional fiat currencies, and can provide the user with a greater degree of control over their funds. However, this may also pose some risks and raise concerns from regulators who may be concerned about the lack of control and transparency in the use of bitcoin for various purposes.

 

[gammarays]

Everything can be, really not knowing who it is yet, every hypothesis can be correct, but the issue now is that it is too large and decentralized network, and we can already say that it is in the hands of users, both holders of fractions of Bitcoin or whole Bitcoin holder and miners, so even if you knew who in Satoshi Nakamoto or anything else, I think it would have little effect, because the network has already been built in a certain way.

Yes that's the beauty of it now. Bitcoin has moved away from an asset that can be controlled by a particular individual or organization. That's why it's adoption is increasing as time passes. Even if it was a failed experiment, the outcome was successful.