Bitcoin’s DECADE Anniversary: Full OVERVIEW!
10 years have passed, since the Bitcoin network was first introduced, but the established community itself hasn’t been around even half of that time.
It’s still early days, truly.
The first workable prototype of the Internet came in the late 1960s with the creation of ARPANET, or the Advanced Research Projects Agency Network.
The U.S. Department of Defense originally funded it.
It was a decade later when two scientists created TCP/IP, and from 1983, we could say that our modern Internet originated.
It was Tim Berners-Lee, who created the World Wide Web in 1990, though most confuse it with the Internet itself.
It took nearly 30 years, from its advent in the 1960s to the invention of the WWW (World Wide Web), we know today, for a “Killer App” to develop.
But, even then, who used it? I certainly didn’t get Internet until 1998, while for many, it took even longer, and many still don’t have it today.
This is the reason I stress that we are still in the early days. The first BTC transaction, for 10 BTCs, happened in January 2009, between Satoshi and Hal Finney.
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Then, the first commercial transaction took place, with the now famous Bitcoin Pizza, where two pizzas were sold, in exchange for 10,000 BTCs.
Once Bitcoin became worth $1.00, it solidified its existence. Immediately after, its price went ballistic, going from $1 to $31.91 in no time. This is indicative of transformative technology; with each milestone, the project is de-risked, and then re-priced.
It is the same in the gold mining business, for example, where a company can be worth $X, before it drills the property and $3X, once the positive results are published.
The value changes instantly, with the release of new results.
There are several other major historical events and phases, which I’ll sum-up and number in this Wednesday’s letter, but today’s message is clear: We are in the EARLY DAYS.
Once the ETFs are approved, along with proper regulations, I expect many new uses to be found for the BTC blockchain.
2018 is proving that not even a 70% crash can change the trajectory of this industry. The future is bright.
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.