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Bitcoin is a quietly emerging revolution. A decade of Bitcoin is a condensed history of a revolutionary technology.
If you sort out the ten years of Bitcoin in chronological order, you will find that the 10 days that shocked the Bitcoin world happened when most people heard about the big event of Bitcoin, and it also affected the future development of Bitcoin.
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December 12, 2010 Satoshi (Satoshi Nakamoto) curtain call!
A day earlier, he had objected to WikiLeaks using bitcoin to get around its visa block, writing: “It would be great to get this kind of attention on any other occasion.” WikiLeaks has poked a hornet’s nest Fly towards us.
Except for the vague message he dictated to Mike Hearn in his last email on April 23, 2011: "I've moved on to other things." We may never know why Mr. Satoshi left.
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October 2, 2013 The Silk Road Bubble Burst
On October 2, 2013, the day Ross Ulbricht's brainchild came to life, an FBI agent saw 29-year-old Ross Ulbricht Ulbricht was arrested at a San Francisco library while logging into a server.
After Silk Road was seized by the FBI, Bitcoin lost 25% of its value and then fell to $109.
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Bitcoin reaches $1,000 on November 27, 2013
When Bitcoin hit $1,000, the day felt fantastic and epic. Bitcoiners did not expect to achieve this milestone in such a short period of time. It wasn’t until later that Mt Gox’s role in fueling the Bitcoin hype came to light, with the help of its Willy trading bot. However, these have not dampened people's enthusiasm for Bitcoin hype.
Before Blockfolios, Widgets, and Push Notifications, Bitcoinity.org was where everyone checked the price of BTC. When bitcoin hit $1,000, the site moved the decimal point three places to the left because the dollar price took up too much screen real estate.
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Although it has been 5 years since Bitcoin's "Titanic" event and the eventual compensation. But the sinking of Mt Gox remains a sore point for early investors who lost money in the bankruptcy deal.
For weeks it was clear that something was wrong with Gox, but its spectacular debacle nonetheless sparked shock and outrage, followed by lingering altercations. The demise of Mt Gox has plunged Bitcoin into a vicious cycle that has lasted for several years.
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May 2, 2016 Craig Wright is Satoshi Nakamoto
In May 2016, Craig Wright (Craig Wright) first proposed himself as Satoshi Nakamoto, and stood up to claim the title of "world's first person".
Gavin Andresen confirmed the authenticity of the digital signature, the mainstream media rushed to report, and Craig Wright reveled in the praise. But then the story starts to fall apart. The connection between Craig Wright and Satoshi was quickly debunked, and Wright became a pariah known as "Faketoshi." While fewer and fewer fans still believe that Wright may have had a hand in Bitcoin's creation, most doubt the authenticity of his claim to be Satoshi.
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Like the Silk Road bankruptcy, the DAO technically has nothing to do with Bitcoin. However, the collapse of the flagship ethereum project reverberated across the industry after $50 million worth of ether was stolen from its smart contracts, prompting Vitalik Buterin to call an online crisis meeting , to meet with the exchange boss to limit the impact.
Eventually, Ethereum recovered, but that was before chain rollbacks and hard forks. That day, Bitcoin’s max gained some new supporters, many of whom have been wary of ETH ever since.
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In July 2017, when Alexander Vinnik was arrested in Greece at the behest of the US Department of Justice, the market didn't even move. By then, the Russian shady exchange had long since ceased to be relevant, but its importance in cryptocurrency history remained significant.
BTC-e is where traders cut their teeth. This is a no KYC, no questions asked outpost, the last wild west town. The original pumps and dumps were orchestrated here, led by kids under the pseudonym Fontas who manipulated junk coins with names like peercoin long before the term junk coin was even coined. A large amount of bitcoins allegedly stolen from Mt Gox was also laundered here. BTC-e is a den of evil that must leave, but that doesn't mean its legend will be missed by those who frequent it.
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The events surrounding the Segwit lock took place on July 21, 2017 and lasted 10 days, shocking the Bitcoin world. Less than two weeks later, Bitcoin's "hard fork" also had a major event for various reasons. During the preparatory stage, it was not clear whether enough miners would express their support for Segwit, but in the end the proposal passed smoothly. The uncertainty is palpable, exacerbated by mounting warnings of catastrophic chain splits and market crashes.
Ultimately, Bitcoin became two forms, Segwit was activated, and while the two factions remained as polarized as ever, both parties at least got something out of the deal: Segwit for the small blocker and Bitcoin Cash for the big one.
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During a few wild moments in December, it looked like Bitcoin Cash might actually be one of the biggest upsets in cryptocurrency history and become the dominant Bitcoin chain by market capitalization. Finally, the trading frenzy driven by zero-fee Korean exchanges.
Coinbase slammed its BCH listing announcement and massive FOMO. Cashening lost momentum when the BCH price hit 0.25 BTC. Many cryptocurrencies rose and fell on the internet that day, as bitcoiners put ideological differences aside and depended on it for trading as much as their lives.
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According to data from Onchainfx, the weighted average official exchange rate of Bitcoin is 20,089, which is a record high for Bitcoin. However, on some exchanges, the weighted average rate of Bitcoin was slightly below this mark before falling to the 20k mark.
Every day in November and December 2017 was filled with impetuosity, excess exuberance, ridiculous headlines and all the other signs that, in hindsight, pointed to an overbought market. However, it was an interesting time for players, nocoiners, and bewildered onlookers. We may never see such madness again until the next bull market.
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Bitcoin Core Fees Hit All-Time High on December 22, 2017
