The invention of the world’s first fully decentralized digital payment system was hardly an accidental or Eureka discovery, but a process that took 30 years and contributions of several cypherpunks who cared deeply about protecting online privacy. Solving the doublespend problem allowed an actual decentralized digital trustless payment system to come into being. So the obvious next question is, “what does the greater world think of Bitcoin?”
In this post, we took a close look into the history of how Bitcoin came into being.
In 2010 1 year after the Bitcoin network start, a man named Lazlo Hanyecz bought 2 pizzas for 10,000 Bitcoin or 35 USD at the time. This was reputed to be one of the first transactions in Bitcoin.
Fast forward 12 years, 10,000 BTC is equal to $230 million!
What on earth has happened in between?
What is the reason why Bitcoin is now valued 6 million times its value in 2010?
Why might Bitcoin stay despite Warren Buffet’s statement that it is a mirage?
Whether a store of value or an actual payment system, the source of value behind Bitcoin is a hotly debated topic today.
In our next post, we will focus our attention on how the world has adopted Bitcoin so far, what is the perception of Bitcoin today, and how Bitcoin might pan out in the future.