Difference between revisions of "Bitcoin until today"
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This is intended to be something of a diary of Bitcoin. Over time it would be interesting to see this grow into a catalog of all of the ups and downs that have taken place over the last (almost 11) years. | This is intended to be something of a diary of Bitcoin. Over time it would be interesting to see this grow into a catalog of all of the ups and downs that have taken place over the last (almost 11) years. | ||
| − | ==Digital | + | ==Digital Cash systems pre-bitcoin== |
| − | A cryptographic system for untraceable payments was first described by David Chaum in 1982 | + | ===eCash=== |
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| + | A cryptographic system for untraceable payments was first described by David Chaum in 1982 in the paper "Blind signatures for untraceable payments, Advances in Cryptology - Crypto '82, Springer-Verlag (1983), 199–203. In 1990 Chaum extended this system to create the first cryptographic anonymous electronic cash system which became known as [wikipedia:Ecash Ecash]. | ||
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| + | In 1998 Wei Dai published a description of an anonymous, distributed electronic cash system which he called "b-money". Around the same time, Nick Szabo created bit gold. Like Bitcoin, Bit gold was a currency system where users would compete to solve a proof of work function, with solutions being cryptographically chained together and published via a distributed property title registry. A variant of Bit gold, called Reusable Proofs of Work, was implemented by Hal Finney. | ||
In 2008, Satoshi Nakamoto published a paper<ref name="whitepaper">Template:Cite web</ref><ref>Template:Cite web</ref> on The Cryptography Mailing list at metzdowd.com<ref>Satoshi's posts to Cryptography mailing list</ref> describing the Bitcoin protocol. | In 2008, Satoshi Nakamoto published a paper<ref name="whitepaper">Template:Cite web</ref><ref>Template:Cite web</ref> on The Cryptography Mailing list at metzdowd.com<ref>Satoshi's posts to Cryptography mailing list</ref> describing the Bitcoin protocol. | ||
Revision as of 22:53, 1 January 2020
Lead in paragraph.
This is intended to be something of a diary of Bitcoin. Over time it would be interesting to see this grow into a catalog of all of the ups and downs that have taken place over the last (almost 11) years.
Digital Cash systems pre-bitcoin
eCash
A cryptographic system for untraceable payments was first described by David Chaum in 1982 in the paper "Blind signatures for untraceable payments, Advances in Cryptology - Crypto '82, Springer-Verlag (1983), 199–203. In 1990 Chaum extended this system to create the first cryptographic anonymous electronic cash system which became known as [wikipedia:Ecash Ecash].
In 1998 Wei Dai published a description of an anonymous, distributed electronic cash system which he called "b-money". Around the same time, Nick Szabo created bit gold. Like Bitcoin, Bit gold was a currency system where users would compete to solve a proof of work function, with solutions being cryptographically chained together and published via a distributed property title registry. A variant of Bit gold, called Reusable Proofs of Work, was implemented by Hal Finney.
In 2008, Satoshi Nakamoto published a paper<ref name="whitepaper">Template:Cite web</ref><ref>Template:Cite web</ref> on The Cryptography Mailing list at metzdowd.com<ref>Satoshi's posts to Cryptography mailing list</ref> describing the Bitcoin protocol.
The Bitcoin network came into existence on 3 January 2009 with the release of the first Bitcoin client, wxBitcoin, and the issuance of the first Bitcoins.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> A year after, the initial exchange rates for Bitcoin were set by individuals on the bitcointalk forums.Template:Citation needed The most significant transaction involved a 10,000 BTC pizza.<ref>Template:Cite web</ref> Today, the majority of Bitcoin exchanges occur on the Bitstamp Bitcoin exchange.<ref>Template:Cite web</ref>
In 2011, Wikileaks,<ref>Template:Cite news</ref> Freenet,<ref>Template:Cite web</ref> Singularity Institute,<ref>SIAI donation page</ref> Internet Archive,<ref>Internet Archive donation page</ref> Free Software Foundation<ref>Other ways to donate</ref> and others, began to accept donations in Bitcoin. The Electronic Frontier Foundation did so for a while but has since stopped, citing concerns about a lack of legal precedent about new currency systems, and because they "generally don't endorse any type of product or service."<ref>Template:Cite web</ref> Some small businesses had started to adopt Bitcoin. LaCie, a public company, accepts Bitcoin for its Wuala service.<ref>Template:Cite web</ref>
In 2012, BitPay reports of having over 1000 merchants accepting Bitcoin under its payment processing service.<ref>Template:Cite web</ref>
https://wiki.bitcoinsv.io/index.php/History_of_Bitcoin