From the FMFW.io blog.
The most important and funny events in the cryptocurrency world
Bitcoin and cryptocurrencies are already in the mainstream, against all odds. But long before this could happen, several important events took place in that industry. Here are the most significant historic events in the cryptocurrency industry.
The term bitcoin was first used in the white paper titled “Bitcoin: The Peer-to-Peer Electronic Cash System” released on October 31, 2008. Nevertheless, no one knows the true identity of the person or group of people responsible for this revolutionary invention so they used the pseudonym Satoshi Nakamoto. In the white paper, readers will find a comprehensive explanation of the distributed ledger system (called blockchain), which cuts off the middleman (financial institutions, banks) for managing online transactions.
The Bitcoin Network is from January 3, 2009, when Satoshi created the first blockchain block — block 0, genesis block.
Previous attempts to develop digital cash had failed because people needed a secure third party to operate the system. Satoshi Nakamoto unraveled this problem by creating a completely transparent distributed ledger system. His vision became a reality.
There are now trusted platforms such as FMFW.io, a cryptocurrency exchange that allows users to buy, sell and trade digital coins. But the first actual Bitcoin transaction took place in Florida on May 22, 2010, when Laszlo Hanyecz bought two pizzas from Papa John’s worth 10,000 BTC.
Picture of the ordered Pizzas by Laszlo Hanyecz, and his daughter’s hand.
Since then, the price of Pizzas has been calculated as the price of bitcoin increases. Nine months after the purchase, Bitcoin hit parity with the US dollar, making two pizzas worth $ 10,000.
In 2021, the price of bitcoin hit its all-time high of $ 63,000. So both pizzas were worth $ 630 million!
Otherwise, the first transaction between two people was between Satoshi Nakamoto and Hal Finney, an early bitcoin supporter — he downloaded the software when it was released. In return, he received ten bitcoins from Nakamoto. Therefore, he became the second person that owned the very first coin.
He also tweeted that he was running a Bitcoin node on his Twitter feed on the same day.
Twitter post by @halfin about owning BTC.
As you probably already guess, we will be explaining what’s behind the HODL term; where is that from?
GameKyuubi, a user of a bitcointalk forum, posted on December 18, 2013, a copy titled “I AM HODLING.”
“You only sell in a bear market if you are a good day trader or an illusioned noob.”
The post was full of typos; however, this one word, “hodl,” became a popular term in the industry. Therefore, now we know that if we are not good traders, we should follow the rule — hodl it, don’t trade it!
In 2010, the price of the first digital coin was worth less than $0,01, next year hit $1, and in 2013 even $1,242. Even though the price in 2014 went double down, Bitcoin’s worth was constantly increasing. In October 2021, it went all-time high — $$66,974.77!
It’s been 13 years since we have heard for the first time about bitcoin, and so we are watching the changes in its price. What’s more, we now have more than 8,000 cryptocurrencies in circulation. Some of them, like Bitcoin and Ether, are more popular; some are just in some exact communities. Digitalization and changes are fascinating and influence our daily lives more and more.
Aren’t you curious how cryptocurrencies will be used in a few years?
Stay up to date with the FMFW.io, their features, competitions, and educational content:
FMFW.io does not provide financial, legal, accounting, or tax advice. Any statement regarding such matters is explanatory and may not be relied upon as definitive advice. All users are advised to consult with their financial, legal, accounting, and tax advisers regarding any potential investment or trading activity.
This article came directly from the FMFW.io blog, found on https://medium.com/fmfw-io/bitcoin-pizza-day-other-funny-crypto-facts-to-know-4124631b71d8?source=rss-12ea66dd7e99——2