The crypto community today is celebrating the 10th anniversary of the release of a Bitcoin Whitepaper, the document authored by Satoshi Nakamoto that led not only to the establishment of bitcoin but the broader implementation of blockchain-based cryptocurrencies.
Bitcoin has come a long way since its invention in 2008, most people would say it has achieved its intended goal of becoming a means of transaction that removes third parties and offers cryptographic proof.
There are now over 2,000 cryptocurrencies in circulation and the entire industry is worth over $200 billion. It is fair to say that Satoshi would be proud of how far Bitcoin has come.
“Those who have been involved in digital currency since the early days have seen the cyclical rise and fall of bitcoin. As an asset class, bitcoin’s value has witnessed outstanding upward momentum with the value far above now what it was in the early days following its inception.
Bitcoin’s adoption was a slow process with the earliest, most notable transaction taking place. Bitcoin went properly mainstream in 2013 with increasing media mentions, growing numbers of new bitcoin companies popping up, and big businesses such as Baidu and Overstock agreeing to accept bitcoin.
In early 2013, leading exchange Coinbase said it had sold over $1m-worth of bitcoin in a month for the first time, a sign that the market was growing indeed. Bitcoin experienced its first major price spike in 2013, rising to over $1,200 by the end of the year.