From Bitcoin Wiki
Revision as of 00:34, 3 March 2011 by Prcarter (talk | contribs)
Jump to: navigation, search

Hashbtc.jpgThis page is a stub. Help by expanding it.Bitcoin is a cryptocurrency invented by programmer Satoshi Nakamoto, who also developed the Original Bitcoin client.


Main article: History of Bitcoin

Bitcoin can trace its origin to the B-money Proposal. The paper Bitcoin: A Peer-to-Peer Electronic Cash System describes the early concepts behind Bitcoin[1] and and precedes the first release of Bitcoin software.

The Bitcoin project was registered on November 9th, 2008. The Bitcoin network started up on January 3rd, 2009 with the genesis block. The genesis block contains a media reference to the dealings of a central banker in the UK.

Bitcoin is currently accepted in exchange for other currencies, such as dollars and euros, as well as directly for services and tangible goods. On February 9, 2011, and for a few days afterwards, Bitcoin sold for over $1 in most exchanges.

In the history of bitcoin, there have been a few incidents, caused by problematic as well as malicious transactions. In the worst such incident, a person was able to pretend that he had a practically infinite supply of bitcoins, for almost 9 hours.

See Also