👉THE HODL DAY
Its truly iconic how bitcoin influenced and changed peoples lifes not only in the world but also here on the bitcointalk forum.
The hodl day is an iconic day on bitcoin history, when one of this forum member made a post with the tittle "I AM HODLING" on 18th December, 2013 to explain why despite the falling prices, the news surrounding bitcoin and social media, he would still hold his bitcoin and also encouraged others to do so, expressing his faith in bitcoins long term potential. I also thank this forum personally for the thread "BUY THE DIP AND HODL" for it has taught me a lot on how to accumulate bitcoin and u think everyone should be active on the thread.
https://bitcointalksearch.org/topic/m.63113742
Link to the thread above.
The hold Day post
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://bitcointalk.org/index.php%3Ftopic%3D375643.0&ved=2ahUKEwjfj8fhzdaDAxXVX0EAHaiaBE8QFnoECB4QAQ&usg=AOvVaw0uiq_vcm5UO2y0QDss_6aj
👉MT. GOX FILES FOR BANKRUPTCY ON 25TH FEB, 2014.
After losing 850,000 bitcoins valued about $450 million due to hacking. Mt. Hox filled for Bankruptcy cause they couldn't recover the stolen asset neither could they repay their creditors. The process lasted for years and they sold off some of their own asset to pay off, but despite all endeavors the mo ey stolen was to much to repay. Even till date there are creditors still awaiting refund.
To know more about mt gox history
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.investopedia.com/terms/m/mt-gox.asp&ved=2ahUKEwj5_97-zdaDAxVXTEEAHfeIDooQFnoECBwQAQ&usg=AOvVaw3GMsdnA7YXAK2PD5nRyymx
👉LIQUID LUNCHES ON OCT 12TH, 2015.
The launch of liquid was a real development to the crypto space. On Oct 12th, 2015 liquid also known as or reffered to as bitcoins sidechain and layer, introduced an innovation that would enhance bitcoins functionality and versatility, addressing some of the limitations in the bitcoin blockchain.
The developers behind this innovation was blockstream, a blockchain technology company, and they designed the liquid chain to run separate from the blockchain, running in parallel to the bitcoin network, they aimed at providing a faster and more confidential transaction compared to the main bitcoin blockchain. One of the primary objectives was to allow effective transfer of assets between exchanges. This also brought about the introduction of federated pegs that allowed movement of assets between bitcoin blockchain and liquid sidechain in a way that maintain a level of decentralization and security.
Liquid was really an innovative technology in the evolution of blockchain technologies and provided a solution for faster and more private transactions which generally contributed to the maturity of crypto currency market and infrastructure.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://blockstream.com/liquid/&ved=2ahUKEwjUn-eXztaDAxU4TEEAHXSmCXoQFnoECB8QAQ&usg=AOvVaw0nbC-h8T9BGy1QsLK7XWs7
👉OFFICIAL REALESE OF THE LIGHTING NETWORK WHITEPAPER.
On Jan 14th, 2016 Joseph poon and thaddeus dryja published the lightning network whitepaper. The lightning network was intended to speed up transaction time and present a scaling solution to bitcoin layer 1 and it also introduced the concept of off chain transactions as a solution to ease congestion on the bitcoin blockchain.
👉FIRST LIGHTING PAYMENT.
After the publication of the lightning whitepaper. The first transaction payment occurs when developer ACINQ successfully completes a test transaction on lightning network, the transaction is for o.ooo1 LTC(LITECOIN) and was sent from Zurich Switzerland to San Francisco california on May 10th 2017.
👉BITCOIN CASH HARD FORK.
A dispute that happened among the members of the bitcoin community over the future of the crypto currency was said to have caused the invention of a new crypto currency with hard fork. The community was divided into two groups since they couldn't come to single agreement, one group proposed a soft fork as a solution to bitcoin problems whilst the other proposed a hard fork. They group that closed the soft work created the segregated witness(segwit), a group of miners and developers decided on a hard fork of bitcoin that leads to the creation of a new crypto currency BITCOIN CASH (BCH). this new coin was designed to offer faster transactions times fees than the original BTC.
The main difference between bitcoin and bitcoin cash is their block size limit. Bitcoin had a block size limit of 1mb initially before segwit upgraded it to 4mb, while bitcoin cash has a block size limit of 32mb. The larger the block size allows more transactions to be processed per block, which avoids congestion and leads to faster transaction speed and low fees.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.kraken.com/learn/what-are-blockchain-hard-forks-soft-forks%23:~:text%3DThese%2520two%2520types%2520of%2520forks,forks%2520introduce%2520backward%252Dcompatible%2520changes.&ved=2ahUKEwi-o6rWz9aDAxX0T0EAHdZVCMgQFnoECA8QBQ&usg=AOvVaw3Ek-ywXg9xlw81UXbeoKbc
👉SEGWIT ACTIVATION DAY
Segwit is activated on August 24, 2017 at 1:57 utc at block height 481,824 which I don't know what this means 😅. This group aimed at addressing several long standing issues that limited bitcoin such as transaction malieability and scalability. As bitcoin continued to grow adoption, scalability became a problem because of bitcoins original block size which was 1mb and this lead to high transaction fees and slower transaction speed especially during network congestion, this was a result of the restrictions of the number of transactions processed within each block .
Segwits proposition to this was to increase the capacity of the blockchain by separating transaction data from the digital signatures, thus allowing more of them to fit within a single block and increasing the networks throughput. This also lead to several improvements to bitcoins security, making it more resilient to certain types of attacks. This day marked an immediate relief of scalability issues that long plagued the blockchain, with the only other alternative was to create a new crypto currency as done by the hard fork group. Thanks to the segwit group bitcoin is still alive.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.kraken.com/learn/what-is-segregated-witness-segwit&ved=2ahUKEwjbvsiwz9aDAxU8XEEAHWBEB0QQFnoECDIQAQ&usg=AOvVaw2whmVxSvgNgJGdBOzh_LxK
👉 RSK LAUNCHED ITS FULL-FEATURED MAIN-NET NETWORK(IOVLABS) ON JAN 1, 2018.
on Jan 1, 2018 the addition of smart Contracts with bitcoin was introduced a feature that was unavailable on its blockchain. Smart contracts brought new featuresto the table for bitcoin, which could help tokenization of assets, supply chain management, even defi.
The introduction of smart contracts by ivolabs gave bitcoin an edge to compete with other platforms like Ethereum. One of the key features of RSK( also known as smart bitcoin introduced by rootstock is a turning-complete smart contract platform that is merge-mined with bitcoin, leveraging on its security while enabling smart contract execution on bitcoins blockchain) was its compatability with the Ethereum virtual machine, allowing developers to use solidity( solidity is a programming language for ETH smart contract).
👉BITCOIN HALVING EVENT MAY 2020
After this third halving event, mining rewards was cut from 12.5 btc to 6.25 btc bitcoin per block. It occurs at block 630,000.
👉STACKS BITCOIN LAYER LAUNCHED ON JANUARY 2021.
The stacks project was originally known as block as block stack and Co-created by trust machines ceo muneeb Ali and Ryan shea. They featured a new programming language CLARITY and consensus mechanism known as proff of transfer (POX). They also advanced the execution of smart Contracts on bitcoin blockchain with other additional use cases for bitcoin like nfts etc.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://trustmachines.co/learn/what-is-stacks/&ved=2ahUKEwjVg5Hpz9aDAxU_UUEAHWYtBqAQFnoECB4QAQ&usg=AOvVaw38o194juuykuA8OHtTZ41m
👉BITCOIN HITS $1 TRILLION MARKETCAP
On Feb 19th, 2021 the price of bitcoin really he's $54,000 taking its marketcap to 1 trillion. This event shows how much investors favour bitcoin and also its adoption in recent years.
👉BITCOIN BECOMES A LEGAL TENDER IN EL SALVADOR.
Bitcoins implementation in EL SALVADOR would forever be a part of bitcoins history as president nayib bakele of el salvador declare bitcoin a legal tender as a solution to reduce the cost associated with remittances. Bitcoin has really grown from just a digital a digital asset or a store of value, counties now see bitcoin as a solution to economy issues as envisioned by satoshi.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.hbs.edu/faculty/Pages/item.aspx%3Fnum%3D62068&ved=2ahUKEwiy3qD-0NaDAxUNZ0EAHVDEBbQQFnoECB8QAQ&usg=AOvVaw1GwkfCiftSeUHagQTNG4Xj
👉FIRST BITCOIN ETF, BITCOIN STRATEGY FUND (BITO) BEGINS TRADING ON OCT 19TH, 2021.
The Taproot upgrade is one of bitcoins largest advancement since segwit activation. It was designed to enhance privacy, flexibility and security of bitcoins transactions by introducing some new features with one their major to be the combing of multiple transactions script into one, enhancing privacy and security for bitcoin transactions. Shnorr signature and smart contract improvements were also added in this upgrade.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.proshares.com/fund-highlights/bito&ved=2ahUKEwiQhYzi0NaDAxWtQkEAHSciBjwQFnoECCkQAQ&usg=AOvVaw38l0TimuDsUxum7yYoZyb8
To know more about BITO
👉ORDINALS PROTOCOL LAUNCHED JAN 21ST, 2023
During early 2023, casey rodarmar launches the ordinal protocol on bitcoin. Rodarmar protocol effectively allowed unique number ls to be assigned to each satoshi( The smallest unit in a single bitcoin) which 3nabl3 anyone to track individuals Sats. This unique feature also allowed users to create digital artifacts and nfts by ascribing content and data to each satoshi as well. In short users could create their own NFTS directly on the bitcoin blockchain itself.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.investopedia.com/what-are-bitcoin-ordinals-7486436&ved=2ahUKEwjp8LmD0NaDAxVtTkEAHWmbCAEQFnoECBsQAQ&usg=AOvVaw20hITF8eHfWH-XUMa59xq7
To more about ordinal protocol
👉TAPROOT WIZARDS LAUNCHES LARGEST ITEM TO USE THE 4MB BLOCKSPACE.
After segwits increased the 1mb blocksize to 4mb allowing more transactions to be run simultaneously on same block. A taproot wizard ordinal inscription becomes the largest block and transaction in bitcoin history on Feb 1st, 2023.
👉BRC-20 TOKEN STANDARD LAUNCHES
White demo was experimenting to implement ordinals theory to facilitate the fungibility of tokens directly on the bitcoin blockchain. Demo creates and launch brc-20 standards on March 8th, 2023
👉BITCOIN STAMPS LAUNCHED ON APRIL 6TH, 2023
This innovation allowed users to mint semi-fungible token and digital collectibles using the counter protocol. These stamps are stored directly on BITCOINs UTXOs which differed from ordinals.
This was the third development that shows the expanding interest of developers on the bitcoin blockchain network.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.samara-ag.com/market-insights/bitcoin-stamps-src20-tokens&ved=2ahUKEwjU_b200NaDAxVNTkEAHWNrBBQQFnoECBgQAQ&usg=AOvVaw1cyNewkOTXvnMKnY9SKB8r
To know more about bitcoinstamps
Link to read from my main source
https://trustmachines.co/bitcoin-history/
https://academy.bit2me.com/en/eventos-bitcoin/
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Topic: The marvellous events that shaped bitcoin history - page 2. (Read 351 times)
👉SILK ROAD MARKET PLACE GOES LIVE.
Entering 2011 on February, the Silk Road Online Black market lunches. This was a very significant innovation to the bitcoin community, because it was one of the first was one of the pioneering platforms that allowed real world applications of bitcoins as a means of exchange. Before this short lived innovation that only lasted for 2 years (because it was shut down by the federal government, due to the fact that it was also used as a medium to conduct illicit activities by criminals), bitcoin Was formerly and primarily used as a speculative investment and peer-to-peer money exchange although bitcoin has been used to purchase goods like the pizza transaction, but such were only arranged person to person. The silk road market place allowed users to buy and sell goods and services anonymously using bitcoin as an alternative to the traditional financial services as dreamt by satoshi nakamoto.
https://www.investopedia.com/terms/s/silk-road.asp#:~:text=The%20Silk%20Road%20was%20an,illegal%20data%2C%20and%20other%20contraband.
To know more about the closure of silk road by FBI read this article.
👉NAMECOIN MINES ITS GENESIS BLOCK
Despite all the shortcomings that would later happen in the crypto space in 2011, one of the first ALTCOIN namecoin was launched and mined its first block on April 18, 2011, namecoin claimed to have similarities with bitcoins proof of work mechanism. Namecoin was innovative and provided a decentralized censorship resistant system for registering and managing domain names, as well as transferring and storing arbitrary data.
To know more about namecoin and how it works
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.investopedia.com/terms/n/namecoin.asp&ved=2ahUKEwi17-j7zNaDAxV3RUEAHUzcBnoQFnoECDIQAQ&usg=AOvVaw3VMjDRHlBrXQkzBvyAs0KD
👉FIRST BITCOIN BUBBLE
Talking about bitcoin is talking about a very volatile asset and this is proven by history when the first bitcoin price dash or bubble occurred in June 2011. Bitcoins Price skyrocketed to $31 per coin, prior to this event, bitcoin has oh been trading at less than a cent per coin in that same year. If you had about 100,000 bitcoin which was not very hard to get, you would have made a lot of profit at this time. This event proved to the world that bitcoin is a really good means of investment as it can really give life changing profits. 😀 shortly after reaching an ATH OF $31 per coin, its price fell quickly to about $2 per coin. The real reason behind this price crash was unclear but what happened prior to that time was a hacking incident involving the Mt gox exchange with about 25,000 bitcoins stolen from a private account. This also lead to many negative comments and news about bitcoin on social media. But as time went by bitcoin also showed great recovery and people started to trust in it again.
👉FIRST INDIVIDUAL BITCOIN HACK.
June 2011 featured some of the first bitcoin hacks and this was a major one. The victim of this hack was Allington who lost a about $500,000 worth of bitcoin he got from mining to hackers. He noted that his private keys and bitcoin was stolen directly on his hard ware. This event although negative showed the bitcoin community that an urgent need for enhanced security practices needs to be adopted. Allinvain also shared his experience on this forum, showing the usefulness of a bitcoin friendly community. This event occurred exactly at 13th June, 2011.
👉MT.GOX HACKED ON JUNE 20TH 2011
Following the hack event of allinvan, was another major hack on one of the leading bitcoin exchange which lead to loss of hundreds of millions of dollars.
The hackers that targeted the exchange, exploited the vulnerability change bitcoin price, made the price of bitcoin to drop from $17 to mere cents in matter of minutes on the exchange and lead to the disappearance of almost $8.75 million worth of bitcoin as at that time and this price drop only affected the exchange. MT.GOX faced series of lawsuits which fined then millions of dollars. And a document that reveals that hackers has been removing bitcoin from the exchange for years was leaked leading to the loss of over 850,000 bitcoins, valued at over $460 million at that time. The company fate was sealed when they filled for bankruptcy in Tokyo on February 28, 2014, following a bankruptcy filling in the United States.
👉FIRST BITCOIN HALVING EVENT.
Bitcoin halving is scheduled to happen after four years and cuts the reward for bitcoin minners in half, reducing the rate of bitcoin issuance. This first halving occurred at 28th November 2012.
Although the news surrounding this event by traders speculating the price of bitcoin, bitcoin price continues to rise and tho there are many factors determining the price of bitcoin and other digital assets.
The very purpose of the halving events is to ensure that the total number of bitcoin in circulation does not exceed 21 million, the max supply set by bitcoins protocol, so do not be decived by unnecessary speculations by traders. All we know is bitcoin would continue to rise.
👉THE FIRST BITCOIN ATM.
speaking of global widespread and adoption who would have believed that bitcoin would evolve from beign used to buy pizzas to having an atm stand at your street or around your neighbourhood. The first bitcoin ATM was installed in vancover Canada on May 2nd, 2013. Although I'm having two dates about this event with the other October 2013.
The bitcoin ATM allow users to conduct bitcoin related transactions, mostly between bitcoin and cash making it easier for people to use and this event proves indeed that bitcoin could also one day completely replace traditional systems of centralization and fait currency in Day to day transactions but not with the problem of high gas fees still pending. If your new to bitcoin ATMS I'll advice you compare exchange rates before using one.
👉FIRST UTILITY COIN (ICO)
We can't complete Bitcoin history without remembering one event that sparked a revolution in Blockchain technology. On July 3rd 2013, the master coin initial coin offering (ICO) took place and was one of the first blockchain fundraising projects. This pioneering event was one of the earliest instances of a project raising capital by issuing tokens on top of an existing blockchain, and in this case, Bitcoin.
The participants of this ICO Would send bitcoins to a designated address and receive newly created mastercoin token (MCU).
This approach revealed the token sale as a means to fund blockchain development, and this project became a groundwork for many other projects that would follow its lead. Mastercoin was truly ambitious and it sought to enhance bitcoins network functions enabling the creation of different digital assets, smart contracts , and decentralized exchange capabilities.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.bitdegree.org/crypto/tutorials/initial-coin-offering&ved=2ahUKEwiNnNzCzdaDAxWAZkEAHSwABkMQFnoECDUQAQ&usg=AOVVAW2YWEJINKKPDPDSW8PJGT-H
It's such a wonder reading about bitcoins timeline and big events, the challenges it has faced and problems it has solved for us up till this day. I felt as tho I'm really part of a great revolution ever since I became aware of how bitcoin really started and the birth of the free money that is not regulated by government or banks. So I think sharing what I've learnt and discovered here is not such a bad thing. Bitcoin history is like a piece of art that continues to unfold its beauty as you stare upon it and I hope every one here shares in this experience with me.
So I'll be giving a brief on bitcoin historical events, it's early developments and all I can get my hands on.
👉 Registration of bitcoins domain.
On August 18, 2008 bitcoins domain was registered anonymously using a privacy protection service by unknown individuals/individual which we all believe to be satoshi nakamoto. This small action here was the very beginning of this great empire today and was the first step towards the creation of decentralized money.The domain name 'Bitcoin.org' is said to be currently maintained by an open-source community of developers and volunteers who work on the bitcoin core software and other related projects. The bitcoin domain or website includes information to introduce people to bitcoin economy, even launchpad for them to buy bitcoin, and resources on how to run bitcoin nodes.
👉Presentation of the bitcoins whitepaper
On 31st October 2008, bitcoins whitepaper was present with the heading 'BITCOIN PEER-TO-PEER ELECTRONIC CASH SYSTEM'. The bitcoin whitepaper gave a series of explanation on what this revolutionary system is and also describes bitcoin as a decentralized digital currency system that would allow for p2p transactions without relying on a third party like a bank. It also proposed the use of blockchain, a public ledger that would record all transactions in a secure and transparent manner. It made reference to the use of nodes to validate transactions. The whitepaper contains a lot of information about the bitcoin blockchain and the foundation of its development so I'll advice everyone to read it themselves, there is a lot I don't understand yet.
Here is a link to download
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://bitcoin.org/bitcoin.pdf&ved=2ahUKEwj63NDih9ODAxWRT0EAHTdfD0EQFnoECB0QAQ&usg=AOvVaw05-4mYD7EyyKjwcHh8i0Vw
This action propelled a new era in the world as a new and decentralized system was announced in the whitepaper.
👉BITCOIN BIRTHDAY
ON Jan 3rd, 2009 the first block of bitcoin was mined called the GENESIS BLOCK. The genesis block contains the first 50 bitcoins ever mined. This block is said to contain a message which reads "The Times 03/jan/2009 chancellor on brink of second bailout for banks" from my source trust machines.com this message is believed to be a reference to the headline from the Times newspaper on the same day the block was mined, reporting on the UK government plans to bail out failing banks.
The message is significant because it highlights one of the key motivations to the creation of bitcoin. The creation of an alternative to traditional financial institutions and their centralized control over the economy.
The creation of bitcoin and the mining of the genesis block represents the beginning of a new era for decentralized peer-to-peer transactions.
5 days after the 1st block was mined from the blockchain, satoshi released the code to bitcoin dated Jan 08, 2009.
https://www.investopedia.com/terms/g/genesis-block.asp#:~:text=The%20Genesis%20Block%2C%20also%20known,references%20the%20one%20preceding%20it.
To know more about the genesis block.
You could also read this to have more knowledge about satoshi earlier days in developing bitcoin.
https://news.bitcoin.com/13-years-ago-today-satoshi-nakamoto-published-the-first-forum-post-introducing-bitcoin/
👉THE FIRST BITCOIN TRANSACTION RECORDED
On Jan 12, 2009 the first ever bitcoin transactions was made by the anonymous satoshi nakamoto himself. He sent a total of 10BTC to hal finney who was an American software developer, this transactions was recorded in block number 170 of the blockchain.
👉The First Bitcoin Wallet
Following after the release of bitcoins whitepaper, some group of individuals operating under the anonymous satoshi introduced the first bitcoin wallet. This happened on February 2009. This wallet was not up to the standard of today's wallet because it was in its early stage of development and maybe also limited technologies. But this action gave birth to the first adoption of bitcoins blockchain tech known as btcoin-qt, it enabled early bitcoin adopters to create and manage their digital wallet to send and receive bitcoin. This early bitcoin tech held cryptographic keys or public keys for receiving funds and private keys for authorising transactions, it also gave users an adress book and enabled them to digitally sign transactions.
This bitcoin-QT would later become known as bitcoin core wallet starting from version 0.9.0. That same wallet is still accessible on bitcoin.org
https://news.bitcoin.com/bitcoin-history-part-18-the-first-bitcoin-wallet/
To know more about the first bitcoin wallet read this article.
👉creation of the bitcoin forum
On 22nd November 2009 satoshi launched a new bitcoin forum
👉 First Ever Recorded Bitcoins Price
On March 17, 2010; bitcoin records a price value of $0.003 on the now defunct bitcoinmarket.com. although this event may seem small but I set a pace for people to recognise bitcoin as a valued asset.
👉BITCOIN PIZZA DAY
Later on at 2010. The first transaction of bitcoin for real life goods was made on May 22nd. This transaction tho small at that time proved bitcoins potential to replace fait currency, also replacing centralized economy with decentralized economy. The first bitcoin transactions with real life goods was done by Laszlo Hanyecz, he purchased two large pap John's pizza with 10,000 bitcoins and this transaction was negotiated on this forum bitcointalk.org .
👉The launch of the first bitcoin exchange.
March 2010 featured the launch of bitcoin exchange by developer malmi, who using his knowledge about bitcoin and Web programming began the creation of the first generation of exchanges for bitcoin. This launch was featured on this forum. The first bitcoin exchange domain was bitcoinexchange.com and malmi was also one of the developers of this forum bitcointalk.org. I tried to check if the website is still working but couldn't connect, kept saying unavailable.
👉THE WORLD FIRST LEADING CRYPTO EXCHANGE IS BORN.
As more companies began to gain interest in crypto currency as a firm of digital value. MT GOX one the leading crypto exchange platform was born on July 18, 2010. This platform was founded by programmer jed mc-caleb . They originally started as a platform for selling virtual cards in game magic before it evolved into a pioneering bitcoin exchange.
The drastic change of this platform begins with its change of ownership, when French developer mark karpeles bought the platform from mc caleb.
This platform grew exponentially, as at 2013 they were already holding about 70% of the world's bitcoin traded by volume. Following this great event also came series of catastrophic events for mt gox exchange featuring hacks, loss of bitcoins, law suites and bankruptcy which eventually lead to the death of the platform.
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👉INTRODUCTION OF THE NEW BITCOIN LOGO.[/size]
At the initial creation of bitcoin, satoshi offered two earlier versions of the bitcoin logo. The first at bitcoins inception and then an updated version which was created by an unknown artist by the name 'BITBOY' . this event happened on November 1st 2010.
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