AMsadadHISTORY OF TRAVEL AND GROWTH OF BITCOIN 2009 - 2017
The Origins of Bitcoin. AMsadad . The first shipment of bitcoin or can be called the original block bitcoin which at that time came out the first time and can be seen by all people with the block chain 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f known on all 03 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f dates known on 03 January 2019 and confirmed at 01:15 0450 sent.
So with this incident and 50 bitcoin sacrificed, it means that a total of 50 bitcoin has no price, so that only bitcoin is mined by miners who have exchange rates.
And with the advent of 50 bitcoins and the attempt to send Bitcoin to Hal Finney including developers, Satoshi Nakamoto began to form the foundation of a new global financial system.
Related Evidence Sources on January 09, 2009 from the Satosi Nakamoto Email Archive please look at the following link EMAIL ARCHIVE Bitcoin V.01 Released.
THE FIRST BITCOIN PRICE IS OUT
The first exchange rate of Bitcoin was introduced to the public on October 5, 2009, the New Liberty Standard opened a service to buy and sell bitcoin, with an initial exchange rate of 1,309.03 BTC to one US Dollar, or around eight hundred cents per bitcoin.
This value is derived from the cost of electricity used by computers to produce, or “mine” the currency of bitcoin.
Sources of Evidence Regarding the New Liberty Standard Web Archive
TIME SELLING TRANSACTIONS BITCOIN FIRST
The First Bitcoin to Fiat Exchange Happened on October 12, 2009, using PayPal, NewLibertyStandard bought 5050 BTC from Sirius for $ 5.02, equivalent to about one tenth of a cent per bitcoin.
Related evidence from the tweet of Martti Malmi and Block Bitcoin Transactions .
HISTORY OF TRAVEL AND GROWTH OF BITCOIN
Bitcoin For Pizza
BitcoinTalk Laszlo users (Laszlo Hanyecz) pay 10,000 BTC for two pizzas sent to their homes valued at around $ 25, this being the first exchange of bitcoin in exchange for food – around $ 0.0025 per coin. and until now it is often celebrated every year to be a Bitcoin Pizza day
Bitcoin Posted on Slashdot – July 11, 2010
Bitcoin release version 0.3 is displayed on slashdot.org, a popular news and technology website. Reaching a large number of technology enthusiasts, this article brought many new people interested, pushing a single bitcoin exchange rate up nearly tenfold, from around $ 0.008 to $ 0.08 in just five days.
Source of Evidence Regarding Slashdot Post Bitcoin Release V 0.3
Mt. Gox Opens the crypto burasa exchange on July 18, 2010
The value of a Bitcoin price of $ 0.07 after a few days later approximately 10 days the price of bitcoin to $ 0.06
Jed McCaleb, a programmer known for creating the successful peer-to-peer eDonkey network in 2000, announced the launch of Mt. Gox bitcoin exchange full time transactions.
Based on the previous, McCaleb project which was abandoned to make online exchanges for Magic: The Gathering cards, he immediately struggled to keep up with business demands and sold mtgox.com to Mark Karpeles on March 6, 2011.
Mt. Gox will slowly grow to dominate the world of bitcoin trading over the next three years.
Evidence Regarding the Mt.Gox Exchange Announcement
First Bitcoin Hard Fork August 15, 2010
Hardfork The first time Bitcoin was due to a bug case on August 15, 2010, the value of a Bitcoin price was $ 0.07
By using a special computer-specific way of processing numbers, unknown people make fraudulent transactions that generate 184,467,440,737,08554078 bitcoin – almost nine thousand times more than the amount that can be legally present in the entire system.
Oddities were quickly seen by Bitcoin developers and community members, and a permanent version of the Bitcoin software was released in a few hours. The next day, the corrected blockchain follows exploitation, and Bitcoin returns to normal operation – but not before the market is badly shaken.
Sources of Evidence Related to Thared BitcoinTalk and Post sourceforge.net
Bitcoin Prices Reach $ 1.00 USD 09 February 2011
Just two years old, Bitcoin achieved equality with the US Dollar on the Mt.gox Exchange. The following day several popular news outlets featured stories about symbolic milestones, causing a surge of interest in a currency that continued to grow so that the official Bitcoin website was temporarily hobbling.
Sources Related to the Beta Slashdot Post
Three New Exchanges Opened Supporting More Fiat Currencies March 27, 2011
The price of Bitcoin is $ 0.83 and within a few days about 10 days later the price of Bitcoin becomes $ 0.72
On March 27, 2011, Britcoin launched the first exchange to trade bitcoin and the British Pound Sterling (GBP).
Only a few days later, on March 31, Brazilian Bitcoin opened services for face-to-face exchanges in Brazilian Reals (BRL) and US Dollars. On April 5, BitMarket.eu began to facilitate trading in Euros (EUR) and other currencies.
Together, they simplify bitcoin ownership and trading for hundreds of millions of new users and the market is growing rapidly.
Related Resources We.Archive.Org
Gawker Published Article About The Silk Road – June 1, 2011
Bitcoin Selling Value from $ 9.21 after 10 days later to $ 17.61 per bitcoin Entitled “The Underground Website Where You Can Buy Any Imaginable Drug,” Adrian Chen’s writing on Gawker is as provocative as the popular one.
For many people who read it, the sudden awareness that Bitcoin has a useful value that is entirely unique touches the house. With a link to Mt. Gox in the text, the article started a huge increase in prices that beat all previous records, reaching more than $ 31 per bitcoin just one week after publication.
Sources Related to The Underground Website
Mt.Gox Exchange Hacked June 19, 2011
By gaining access to official auditor credentials working for the Mt.Gox bitcoin exchange, a hacker downloads a slightly out-of-date copy of the user’s database of the website, including an unsecured hash email address and password.
Using their newly found administrator-level access to the site, they offer countless offers to sell non-existent bitcoin, by deflating the price until the current rate is only $ 0.01 per coin.
Mt. Gox reversed fraudulent transactions and stopped trading for seven days to secure their system, and two other large exchanges issued temporary suspension while their security was reviewed.
Shortly thereafter, a database copy was leaked and was used to launch attacks on accounts owned by users of the MyBitcoin online wallet service that share the same password on both sites, resulting in the theft of more than 4,019 BTC from around 600 wallets.
The Good Wife “Airs Bitcoin for Dummies” TV Episode December 19 2011
Bitcoin Price Value: $ 3.41 Bitcoin Price 10 days later $ 4.22
After the initial announcement of the upcoming Bitcoin-themed episode, investors bet big on the event to bounce prices to new highs.
Around 9.45 million viewers listened to “Bitcoin for Dummies” on January 15, 2012; the story involved a government hunt for the creator of Bitcoin, who was accused of making a currency in competition with the US Dollar Despite massive exposure, prices remained stagnant after the show aired.
Related Resources IMDB Post and BitcoinTalk Thared
Paxum and Tradehill Drop Bitcoin February 11, 2012
Harag Bitcoin $ 5.7 10 days later Bitcoin Price $ 4.31
On February 11, 2012, Paxum, an online payment service and popular tool for Exchange bitcoin,
announced that it would stop all transactions related to crypto currencies due to legal issues.
Two days later, regulatory issues around sending money forced the exchange of popular bitcoin and service companies TradeHill to stop its business and immediately began selling its bitcoin assets to return money to customers and creditors.
The following day, Patrick Strateman, known on BitcoinTalk as phantomcircuit, generously revealed a devastating bug about how BTC-E, another online exchange, secures his client’s account and funds.
Lined Hacked, More than 46,000 BTC Stolen March 1, 2012
Value of a Bitcoin Price of $ 4.92 Value of a Bitcoin Price 10 days later $ 4.89
An unknown hacker violated the Linode server network and immediately searched for accounts related to bitcoin, quickly compromising the eight customer’s wallet.
Bitcoinica a large online bitcoin exchange was devastated because it lost more than 43,000 BTC,
while other prominent victims included Bitcoin main developers Gavin Andresen and Marek Palatinus (also known as slush),
Largest Minning Pool operator Bitcoinica and slush’s pool bear the loss of theft on behalf of their customers.
Resources Related to the Arstechnica Web Post and Web Archive
Bitcoins Savings & Trust Halts Payments August 17, 2012
Bitcoin Price Value $ 13.31 Bitcoin Price Value 10 days later $ 11.18 Promising consistent weekly “interest”, earning 7% for its creditor, Trendon T.
Shavers (known as BitcoinTalk as Pirateat40) manage covert operations for about eight months, only accept large bitcoin deposits (50+ BTC) and pay weekly “interest”.
On August 17, 2012, Pirateat40 announced the cessation of operations, and fled with an estimated deposit of between 86,202 and 500,000 BTC. On July 23, 2013, the US Securities and Exchange Commission filed a lawsuit against Shavers for cheating investors in the Ponzi scheme.
WordPress Accepts Bitcoin November 15, 2012
Bitcoin Price: $ 11.04 Bitcoin price 10 days later $ 12.46
In a smart and savvy release, WordPress explained the decision: “PayPal itself blocks access from more than 60 countries, and many credit card companies have the same restrictions.
we don’t think an individual blogger from Haiti, Ethiopia, or Kenya should reduce access to the blogosphere because of payment problems that they can’t control.
Our goal is to enable people, not block them. “As one of the 25 most popular domains on the web, WordPress’s move paves the way for the next retail venture on Bitcoin.
Resources Related to WordPress Blogs
Halving Day – November 28, 2012
Bitcoin Selling Value $ 12.25 Bitcoin Selling Value 10 days later $ 13.43
In line with the original design for maturing Bitcoin, the number of coins made to reward miners experienced the first reduction,
begin a long and gradual process of reducing the amount of new currency that enters the economy. This “Halving Days” is scheduled to occur every four years, reducing the amount of new bitcoin generated until the reward reaches 0 in 2140, to produce a fixed money supply of 20,999,999,9769 BTC.
These previously programmed inflation limits are the main drivers of currency economic controversy, value appreciation and speculation.
Related Resources Post Bitcoin Community and Blockchain
Bitcoin 0.8 Causes a Hard Fork Brief – March 11, 2013
Bitcoin Price: $ 47.41 Bitcoin Price 10 days later $ 68.89
Shaking confidence in Bitcoin and the validity of some transactions, prices briefly plummeted and the Mt.Gox exchange temporarily suspended the bitcoin deposit.
Thanks to the fast and coordinated response by developers, miners and members of the Bitcoin community,
The fork was completed within a few hours after the operators of two large mining pools, Michael Marsee (from the BTC Guild) and Marek Palatinus (from the mud pond),
honorably forget some of their accumulated mining prizes to downgrade to compatible previous versions. The latest version, 0.8.1, released shortly after, contains protection to prevent the original problem.
Sources Related to Bitcoin.Org and Github
Cyprus Bail-In March 25, 2013
Bitcoin Value: $ 74.02 Bitcoin Value 10 days later: $ 131.07
Masterminded by Cypriot President Nicos Anastasiades, Eurogroup, European Commission, European Central Bank and International Monetary Fund, a € 10 billion bailout is expected to fortify the sluggish Cypriot economy.
Among his conditions, however, was a sizable levy collected from most bank accounts with holdings of more than € 100,000 cutoff – a serious concern not only for rich Cypriots but many international people, because favorable policies for the country have made it a popular global tax haven , especially in Russia.
Looking for a solution to maintain their ownership before the bailout conditions take effect, many of these account holders began to buy bitcoin en masse, pushing up prices until early April that brought the value of one bitcoin from around $ 80 to more than $ 260.
Sources Related to Money CNN
Increased Trading Volume, Mt.Gox Breaks April 10, 2013
From a Bitcoin Price of $ 181.66 Then a Bitcoin Price 10 days later for $ 122.9
Initially regarded as a Denial-of-Service (DDoS) attack Distributed to the largest bitcoin exchange, a large surge of traders after the announcement of the Cyprus bailout flooded the Mt.Gox server, causing trading to stutter and fail.
Speculative fears about stock hiccups provide a strong panic-sell that saturates the market and pushes prices down to pre-rally levels, before rising again a few days later.
Resources Related to the Archive of Mt.Gox
DHS Confiscation Warrant Against Mt.Gox 14 May 2013
Bitcoin Price $ 114.33 Bitcoin Price 10 days later $ 128.8
When Mt.Gox opened an American bank account with Wells Fargo, President and CEO Mark Karpelès answered “no” to the question, “Do you deal or exchange currencies for your customers?” And “Does your business receive funds from customers and send funds based on Customer instructions (Money Transmitter)? “The US government thinks otherwise.
With a warrant signed, Homeland Security Investigation seized $ 2,915,507.40 from an account owned by a Mt.Gox subsidiary that was used to process payments to and from US customers, and the future legal status of Bitcoin became increasingly uncertain.
Sources Related to the Post Arstechnical Web and Post 2013 Gigaom
Tradehill Shuts Down (Again) August 30 2013
Bitcoin Price Value $ 131.48 Bitcoin Price Value 10 days later $ 126.94
Business-to-business bitcoin exchanges have relied on the relatively new Internet Archive Federal Credit Union to store their clients’ deposits in regulatory and insured accounts.
When the IAFCU determined that it could not deal with a lot of regulatory issues around Bitcoin, Tradehill was forced to stop operations and return customer funds.
Related Sources Web Coindesk Post and Post Internet credit union
Pirates Dread Roberts Arrested October 1, 2013
Bitcoin Value $ 133.03 Bitcoin Value 10 days later $ 135.12
Following in the footsteps of instructions left indiscriminately on the internet, the US Federal Bureau of Investigation (along with other agencies) manages to identify suspected black market web operators, who see most of their sales in illegal drugs.
Ross Ulbricht, claimed by the FBI as the founder of the site, Dread Pirate Roberts, was arrested at the San Francisco Public Library and charged with drug trafficking, computer hacking, money laundering, and involvement in “a sustainable criminal enterprise.”
About 30,000 BTC of bitcoin ownership in the Silk Road were confiscated at that time, and an additional 144,000 BTC of DPR’s private ownership were swept up three weeks later.
Sources Related to Post Theverge and Money CNN
US Senate Holds Hearing On Bitcoin November 18 2013
The value of Bitcoin is $ 685.75 The value of Selling Bitcoin 10 days later is $ 1072.83
It was announced under the title “Beyond Silk Road: Potential Risks, Threats and Promises of Virtual Currencies,” hoping for a faint US Government panel discussion among the Bitcoin community ahead of the trial.
However, when the process began, many panelists and Senators agreed that Bitcoin holds great promise. The general consensus was summarized by Jennifer Shasky Calvery, Director of the US Government’s Financial Crime Enforcement Network (FinCEN), who testified, “We want to operate in a way that does not preclude innovation.”
Sources Related to the OnBitcoin Web and Post Senate.Gov
Exchange Rate Peaks at $ 1,242 on Mt.Gox November 29 2013
Bitcoin Price Declines From $ 1132.26 10 days later Bitcoin Price is $ 921.97
The rapidly growing Bitcoin investment from China continues to drive prices higher, reaching a peak on November 29.
Subject to strict controls regarding the movement of money across national borders, Chinese citizens embrace the freedom granted by Bitcoin with open arms, looking for alternatives to the country’s bloated official currency, the Renminbi.
The origin of China’s main interest in Bitcoin is largely credited to the Jet Li’s One Foundation, which publishes Bitcoin addresses for donations after the April 20, 2013 Lushan earthquake and received more than 230 BTC in just two days, widely discussed at the national level. media.
Sources Related to Bitcoin NBCNEWS and Mbaskool.com Articles
People’s Bank of China OK’s Bitcoin November 20 2013
Bitcoin Value Increase $ 641.23 10 days later Bitcoin Value $ 1075.16
Speaking in Mandarin at an economic forum, Mr.Yi said that “people are free to participate in the Bitcoin market,” and that he would “personally adopt a long-term perspective on the currency.”
News of his statement encouraged the already active Chinese bitcoin market with China’s largest BTC, seeing trade volume more than double the world’s second largest exchange Mt.Gox.
Sources Related to Sinoshpere Blogs Post
Chinese Government Bans Financial Institutions From Using Bitcoin December 5 2013
Bitcoin Value: $ 1022.37 Bitcoin Value 10 days later: $ 839.93
Placing its first restraint on the rising popularity of Bitcoin, the People’s Bank of China said Satoshi Nakamoto’s new invention was not a currency.
Changes in policy prohibit any financial institution from trading, insuring, or offering services related to Bitcoin.
During the following weeks, further restrictions slowly stifled the Chinese cryptocurrency market, as exchanges repeatedly tried to find innovative and long-lasting ways to keep operating, and prices around the world dropped dramatically.
Related Sources Post nytimes.com and Bitcoin CNN
Major Exchanges Hit With DDoS Attacks February 7 2014
Bitcoin Down from a Bitcoin Value of $ 717.83 10 days later Bitcoin Value of $ 626.5
Mt.Gox, Bitstamp, and BTC-e all experienced trading cessations due to large-scale DDoS attacks that appeared to be aimed at exploiting men’s transaction capabilities in exchange software. Mt.Gox stopped the withdrawal first, on 6 February, proven to have contributed to the sharp decline in BTC prices; DDoS attack was detected on February 11, 2014.
Due to a number of problems at Mt.Gox, it may not be clear that the DDoS attack was primarily responsible for the problem they experienced on 6 February.
Mt.Gox Exchange Closed February 24 2014
Bitcoin Value $ 547.09 Bitcoin Value 10 days later $ 662.57
After stopping a sudden withdrawal on February 6, claiming that a hacker had exploited their software that was not properly implemented through the use of transaction flexibility attacks, embarrassing the bitcoin exchange of the Mt.Gox website and the trading engine went blank without official comment.
Other exchanges and Bitcoin businesses issued a joint statement condemning mismanagement, fraud, and ultimately the collapse of exchange executives based in Japan, after internal documents that were allegedly leaked showed that more than 744,000 BTC were lost by the company.
Related Resources Recode Bitcoin and Coinbase Blogs
Newsweek Claims Dorian Nakamoto is Bitcoin’s Creator March 6 2014
Bitcoin Value: $ 662.57 Bitcoin Value 10 days later: $ 631.25
In an article titled “The Face Behind Bitcoin”, journalist Leah McGrath Goodman writes that an engineer who is unemployed in Temple City, California is actually the creator of Bitcoin.
Based on speculation and interviews with the Dorian family, Goodman’s article finally attracted much worldwide attention to Dorian Nakamoto, who denies involvement in Bitcoin and requests privacy from the media.
The Bitcoin community will later raise around $ 23,000 for Dorian Nakamoto.
IRS Declares Bitcoin Will Be Taxed As Property March 26, 2014
Bitcoin Value $ 581.52 Bitcoin Value 10 days later $ 453.05
The IRS policy document states Bitcoin as property, not currency, is subject to capital gains tax – with taxes calculated on every change in purchasing power for a certain amount of bitcoin, from the time it was earned to the time it was spent.
This decision is widely scorned as complicated and too complicated, requiring currency users to record the Bitcoin market price with each transaction, subject to a series of calculations that are mostly unknown. Others, however, commented that the net tax paid is often smaller than if Bitcoin was treated as a viable currency – but for markets that appear innocent tax-exempt, it’s a hard blow to soften.
Sources Related to Bitcoin Bloomberg.com
Chinese Exchanges’ Bank Accounts Closed – April 10 2014
Bitcoin Value $ 408.25 Bitcoin Value 10 days later $ 501.7
The People’s Bank of China, which frequently updates restrictions on Bitcoin, finally pressured several Chinese banks to issue deadlines for some bitcoin exchanges, requiring them to close their accounts on April 15.
Although some people avoid the warning, the uncertain regulatory environment has some prominent gaps that are quickly adopted by all Chinese exchanges. Using foreign banks, a new cryptographic voucher system and other solutions, this trading platform continues to operate, but at a very reduced volume from its dry period in 2013.
Sources Related to Bitcoin Coindesk
Mining Pool GHash.io Reaches 51% – June 13, 2014
Bitcoin value $ 598 Bitcoin value 10 days later $ 592.28
Due to GHash.io’s popularity and partnership with CEX.io to sell mining shares of their own (mining hardware), the mining pool giant gains a sole majority of the Bitcoin network hashing power,
and the ability to launch a successful 51% attack on the Bitcoin network. With a majority of the Bitcoin network hashing power,
GHash.io could temporarily reverse transactions that they send (double spending) and prevent other transactions from being confirmed.
GHash.io responds by stating they “have and will never participate in any 51% attack”. The pool also issues a press statement declaring that it will attempt to limit its hashing power to 39.99% by “actively asking miners to take their hardware away from GHash.IO and mine on other pools”, as well as form a committee to assist Bitcoin core developers in solving the 51% attack problem.
Related Resources Blog.cex.io and ArsTechnica.com
US Marshals Service Auctions 29,656 Seized Bitcoins June 27 2014
Bitcoin Value: $ 596.8 Bitcoin Value 10 days later: $ 628.5
Nearly 30,000 Bitcoins that were confiscated by the government, obtained by the US Marshals Service in October 2013 on the Silk Road website, were auctioned in 3,000 bitcoin pieces.
Bidders are required to deposit $ 200,000 USD via bank transfer to qualify for the auction. A single bidder (Tim Draper’s venture capitalist) won every auction, indicating that his winning bid price was far higher than the current market price.
Sources Related to Bitcoin Coindesk.com and Bitcoin Abcnews.com
New York DFS Releases Proposed “BitLicense” July 17, 2014
Bitcoin Value: $ 619.9 Bitcoin Value 10 days later: $ 595.49
Benjamin M. Lawsky, Superintendent of the New York Financial Services Department, announced a series of proposed regulations for businesses that interact with Bitcoin and cryptocurrency.
The purpose of the new regulation, according to Lawsky, is to help “protect consumers and eradicate illegal activities – without inhibiting useful innovations”.
The regulation will require entities dealing with Bitcoin to conduct background checks / fingerprints for all employees, obtain written approval for new business activities by the state, and to immediately convert any Bitcoin profit into US dollars.
Affected entities are exchanges, mining aggregates, mass Bitcoin sellers, and altcoin software makers based in the state of New York, or who have customers in the state of New York. This regulation news is generally reprimanded by the cryptocurrency community.
Sumber Tekait bitcoin press2014 and Reddit.com
Dell Accepts Bitcoin – July 18, 2014
The value of Bitcoin is $ 624.1 The value of Bitcoin 10 days later is $ 582.88
Founder Michael Dell announced on Twitter that dell.com now accepts Bitcoin. Customers in the United States (only) can buy any product listed on the Dell online market using Bitcoin.
All Bitcoin transactions will be handled by Coinbase, the Bitcoin payment processor. With an annual income of $ 56 billion, Dell is the largest company that accepts Bitcoin.
This announcement follows a number of other major online retailers’ acceptance of Bitcoin payments in 2014 (Overstock in 2014-01-09 through the Coinbase processor, Tiger Direct on 2014-01-23, and Newegg on 2014-07-01 through the Bitpay processor).
Paypal Subsidiary Braintree to Accept Bitcoin – September 8, 2014
Bitcoin Value: $ 473.02 Bitcoin Value 10 days later: $ 439.52
Braintree, a Paypal subsidiary, announced that it is partnering with Coinbase to accept Bitcoin payments on their platform.
Over the next three months, the two companies will try to integrate Bitcoin payment processing for Braintree traders.
The Bitcoin payment option will be activated seamlessly for all traders on the platform. Braintree traders only need to register for a Coinbase account and link it to their Braintree account.
The news adds to speculation that Paypal is becoming more favored of Bitcoin, and can eventually integrate it into their own payment processing system.
Sources Related to Bitcoin Blog.coinbase.com and Bitcoin Theguardian.com
The Slaying of BearWhale – October 6, 2014
Bitcoin Value $ 323.47 Bitcoin Value 10 days later $ 387.4
Unknown traders place nearly 30,000 BTC to sell on the Bitstamp exchange at a limit price of $ 300 per bitcoin, worth around $ 9 million USD.
The order was nicknamed “BearWhale” by the Bitcoin community because of its unprecedented size.
Over the next 24 hours, all BearWhale orders are filled on the exchange through buy orders.
Microsoft Accepts Bitcoin – December 11, 2014
Bitcoin Value $ 352.56 Bitcoin Value 10 days later $ 324.87
Microsoft said it would accept Bitcoin from US customers for “applications, games and other digital content” offered at Windows and Xbox online stores.
The announcement was made by post on the tech giant’s blog and stated that Microsoft had partnered with Bitpay for processing Bitcoin payments.
Related Sources Blog.microsoft.com and CNN money
Charlie Shrem Sentenced to 2 Years in Prison – December 19, 2014
Bitcoin Value: $ 313.38 Bitcoin Value 10 days later: $ 317.06
Labeled “First Felon” Bitcoin, Charlie Shrem, CEO of BitInstant bitcoin exchanges, was sentenced to 2 years in prison for his role in money laundering for Silk Road users, an online market that serves prohibited goods and services.
Shrem has entered a plea offer involving handing over $ 950,000 to the US government and pleading guilty to assisting and abetting a business operating money transfers without permission.
Related Resources insidebitcoins.com and coindesk.com
Bitstamp Hacked – 4 January 2015
Bitcoin Value $ 275.07 Bitcoin Value 10 days later $ 198.59
Unknown hackers were able to steal 18,866 bitcoins from Bitstamp’s operational hot wallet, worth around $ 5.2 million dollars.
The attackers used social engineering against the Bitstamp Luka Kodric system administrator to gain access to 2 Bitstamp servers and then the hot wallet private key. The wallet really ran out of all bitcoin soon after.
After finding a violation, Bitstamp immediately shut down the exchange operation for 8 days because he audited his system and rebuilt his trading platform.
The theft represents “a small part of the total Bitcoin Bitstamp reserve” because most of the company’s Bitcoin funds remain untouched in offline “cloud” storage.
No customer account balance is affected. However, according to a leaked internal Bitstamp report about the incident, the damage to the company’s reputation and customer trust far exceeds its monetary Bitcoin loss.
Coinbase Launches US Licensed Exchange January 26, 2015
Bitcoin Value: $ 281.26 Bitcoin Value 10 days later: $ 222.85
The startup supported by Coinbase Inc., a popular Bitcoin outlet and payment processor, announced the release of its own Bitcoin trading platform.
The company’s founders stated that they had worked for months to obtain various licenses from state financial regulators, which allowed them to receive customers legally from 25 different US states.
The new platform will operate like a traditional exchange: customers can deposit funds, submit requests and offers on order books, and will be charged a small percentage fee on trades executed.
The exchange platform will remain separate from their Bitcoin outlet operations, which, conversely, allows customers to buy and sell Bitcoin directly from Coinbase.
Sources Related to coinbase and bitcoin coindesk blogs
Ross Ulbricht Sentenced to Life in Prison May 19, 2015
Bitcoin Value: $ 234.31 Bitcoin Value 10 days later: $ 238.22
After a month-long trial that ended with the Ulbricht guilty verdict, Judge Katherine Forrest sentenced Ulbricht to life in prison without parole.
Ulbricht was convicted of 7 counts of money laundering, computer hacking, and conspiracy against narcotics traffic in February because of his role as operator of the Silk Road market (aka “Dread Pirate Roberts”).
In a letter to Judge Katherine Forrest before her sentence, Ulbricht claimed to run Silk Road and submitted a request for leniency.
The judge’s sentence stated that the severity of the sentence was to make Ulbricht’s example: members of the public considering following in his footsteps should know “that if you violate the law in this way, there will be very serious consequences.”
Ross Ulbricht will then appeal the decision on June 5, 2015.
Related Sources bitcoin nytimes.co , wired.com , Wiki Ross Ulbricht , reasone.com and motherboard.vice.com
2 Federal Agents Plead Guilty to Silk Road Theft July 1 2015
Bitcoin Value: $ 260.73 Bitcoin Value 10 days later: $ 291.66
Former Federal agents Carl Force IV (DEA) and Shaun Bridges (Secret Service) pleaded guilty to stealing Bitcoin for their personal gain during their active investigation of the Silk Road market.
Force was charged with “extorting Ulbricht, as well as wire fraud, theft of government property, money laundering and conflicts of interest” in his role in siphoning $ 50,000 of Bitcoin from Silk Road into his personal account.
Bridges was charged with money laundering and obstructing justice for stealing $ 820,000 in the same way.
Force agreed to pay $ 500,000 in compensation and then was sentenced to 6 years in prison in October 2015. Bridges is awaiting punishment in December 2015.
Sources Related to Bitcoin Forbes and Inside Bitcoins
Mark Karpeles Arrested – August 1, 2015
Bitcoin Value: $ 283.04 Bitcoin Value 10 days later: $ 267.19
Mark Karpeles, CEO of the failed Mt.Gox Bitcoin exchange, was arrested in Japan on charges of fraud and embezzlement in connection with the collapse of the exchange.
Karpeles faces accusations of illegally manipulating trading volumes and the personal use of client deposits, which may lead to bankruptcy of the exchange. Mt.Gox is estimated to have lost 744,400 Bitcoin from customer deposits.
New York State Releases the BitLicense June 3 2015
Bitcoin Value: $ 226.9 Bitcoin Value 10 days later: $ 232.05
New York State Department of Trustees, Benjamin Lawsky, released a set of special rules intended to regulate the business of Bitcoin and digital currencies that serve customers located in the state of New York.
This regulation is the first to be directly targeted at the digital currency business.
According to regulations, digital currency companies serving NY customers must file “BitLicense” within 45 days or be considered a “violation of the law”.
The $ 5,000 BitLicense application and its regulations cover a number of business requirements, such as employee fingerprints for the FBI, obtaining written approval of all new business activities, and maintaining “company revenue and profits can only be invested in US dollars”.
In response, New York-based customers were banned and removed by a number of Bitcoin companies, including Bitfinex, Kraken, Bitquick, and ShapeShift.
Bitcoin XT Fork Released – 15 August 2015
Bitcoin Value: $ 267.24 Bitcoin Value 10 days later: $ 214.3
Bitcoin Core developers, Mike Hearn and Gavin Andresen released a separate version of the Bitcoin client software, called Bitcoin XT.
This release illustrates the ongoing controversy in the Bitcoin development community: what limits should be placed on the size of the Bitcoin block? Bitcoin XT implements BIP 101,
which proposes “replacing the maximum block size of one fixed megabyte with the maximum size that grows over time at a predictable rate”.
The release of Bitcoin XT heightened concerns that the Bitcoin community might not be able to reach consensus on this issue, and blockchain might be difficult, resulting in two separate versions of the global Bitcoin ledger.
Bitcoin is declared a commodity by the US regulator 18 September 2015
Bitcoin Value: $ 234.65 Bitcoin Value 10 days later: $ 238.15
Commodity Futures Trading Commission (CFTC), announced that it has submitted and resolved fees for the exchange of Bitcoin because it facilitates trading of option contracts on its platform.
They stated: “In this order, the CFTC for the first time found that Bitcoin and other virtual currencies are precisely defined as commodities,”.
Sources Related to Bitcoin Blomberg.com
Early Open Gemini Exchange October 8, 2015
Bitcoin Value: $ 245.48 Bitcoin Value 10 days later: $ 268.01
Cameron and Tyler Winklevoss released their own US-based Bitcoin exchange, dubbed “Gemini”.
Once launched, the exchange is licensed to operate in 26 states and is able to “serve individual and institutional customers” because of its LLTC corporate structure. Gemini can also offer FDIC insurance to customer deposits thanks to partnerships with New York-based banks.
This exchange aims to fully comply with US law with a policy to first “ask permission, not forgiveness”.
Sources Related to Bitcoin Magazine
European Union Declares No VAT Tax for Bitcoin Trading on 22 October 2015
Bitcoin Value: $ 273.82 Bitcoin Value 10 days later: $ 318.43
The European Court ruled that the exchange of Bitcoin and “virtual currency” is not subject to value added tax (VAT) in the European Union. The decision serves to classify Bitcoin and related alt-coins as currency, not goods or property.
This ruling differs from the classification of United States Bitcoin as a currency (according to FINCEN) and a commodity (according to CFTC / IRS).
Sources Related to Bitcoin CNBC and Bitcoin NewsBTC
Bitcoin Featured on Front Page of The Economist October 31, 2015
Bitcoin Value: $ 323.35 Bitcoin Value 10 days later: $ 366.67
The Economist, a globally popular British publication focused on economic liberalism, made his article “The Trust Machine” the main cover story of its weekly print edition.
This article focuses primarily on the use of blockchain technology, promoting the idea that banks and government agencies can implement their own blockchain to create “a cheap, anti-vandalous public database”.
Sources Related to Bitcoin Economise
Bitcoin Signs Received into Unicode 3 November 2015
Bitcoin Value: $ 383.16 Bitcoin Value 10 days later: $ 334.73 See Event # 52 in Chart
The Unicode Committee accepts the Bitcoin currency symbol (uppercase B with 2 vertical bars through it, but only visible at the top and bottom) which is in the upcoming standard version of Unicode. The glyph will be given a slot “U + 20BF BITCOIN SIGN” and will eventually be rendered with a standard system font.
Sources Related to Bitcoin Unicode
Gwern and WIRED Claim Craig Wright Maybe Satoshi Nakamoto 8 December 2015
Bitcoin Value: $ 397.52 Bitcoin Value 10 days later: $ 461.05
Security researcher and writer, Gwern Branwen, published an article in WIRED magazine that claimed that an Australian man named Dr.Craig S. Wright was Satoshi Nakamoto or “a brilliant deceiver”.
Gwern cites a number of blog posts that Wright deleted, leaked emails, and transcripts that seemed to suggest Wright was the creator of Bitcoin.
In one leaked transcript, Wright himself claimed “I did my best to try and hide the fact that I have been running bitcoin since 2009”. Other documents detail that Wright has access to Bitcoin trust worth 1.1 million bitcoin.
However, none of the leaked documents claimed to be owned by Gwern were published.
Wright did not provide WIRED with any confirmation that he was indeed Satoshi Nakamoto. Within hours of the article being published, Wright’s existing online presence was largely removed from the web.
Sources Related to Bitcoin 2015 Wired.com and Bitcoin Coindesk
Mike Hearn Exits Bitcoin (aka The Hearnia) January 14, 2016
Bitcoin Value: $ 431.76 Bitcoin Value 10 days later: $ 397.92
In a public blog post, Mike Hearn stated that Bitcoin had failed and that he “would no longer take part in the development of Bitcoin”.
Hearn is a former Google developer who has been heavily involved in the Bitcoin community and related projects since the beginning of cryptocurrency.
The most popular project is bitcoinj, a Java implementation of the Bitcoin protocol.
Pos Hearn blamed the alleged failure of Bitcoin for a number of reasons: censorship within the Bitcoin community, centralization of mining to a handful of Chinese miners,
and the reluctance of Bitcoin Core developers to increase the Bitcoin block size limit. Within 24 hours after the post was published, the price of Bitcoin fell by more than $ 50 USD.
Others in the Bitcoin community accuse Hearn of deliberately attacking Bitcoin to promote his new company, R3 CEV, a startup that focuses on using blockchain technology to improve operations in the global banking industry.
Sources Related to Bitcoin Medium and Crypto Coin News
Bitcoin Roundtable Consensus February 21 2016
Bitcoin Value: $ 439.84 Bitcoin Value 10 days later: $ 433.66
Members of the influential Bitcoin community met in Hong Kong to discuss development plans and timelines for scaling Bitcoin.
The closed meeting included more than 30 miners, service providers, and developers of Bitcoin Core and intended to discuss solutions to the block size debate.
The meeting ended with a public statement proposing group support for the new Segregated Witness function, and making a hard fork in the Bitcoin protocol available that would increase the block size limit between 2MB and 4MB in July 2016.
Others in the Bitcoin community denounced the meeting as insignificant because the parties involved represented a handful of Bitcoin companies and special interest groups.
Sources Related to Bitcoin Coindesk and Bitcoin Reddit
OpenBazaar Launched – April 4, 2016
Bitcoin Value: $ 420.61 Bitcoin Value 10 days later: $ 426.28
The initial production version of the first decentralized marketplace software, OpenBazaar, was released to the general public.
The aim of the project is to facilitate peer-to-peer trading without intermediaries, fees, or trade restrictions. This software allows users to create virtual stores where buyers can buy goods using Bitcoin.
The OpenBazaar project will later announce receiving $ 1 million from venture capital company Union Square Ventures, Andreessen-Horowitz, and angel investor William Mougayar.
Sources Related to the Bitcoin Bazaar and Open Business Bitcoin
Steam Receives Bitcoin Aceppts – 27 April 2016
Bitcoin Value: $ 461.08 Bitcoin Value 10 days later: $ 460.85 See Event # 57 in Chart
The popular Steam game platform began accepting Bitcoin as payment for video games and other online media. Valve, the company that owns Steam, asks Bitpay as a payment processor to facilitate Bitcoin payments and help target international customers where credit card payments are not like everywhere.
Sources Related to Coindesk Bitcoin and Pay Bitcoin Steam
Craig Wright Claims to be the Creator of Bitcoin – 2 May 2016
Bitcoin Value: $ 447.64 Bitcoin Value 10 days later: $ 454.36
After being absent for five months from the public eye, Craig Wright openly announced that he was Satoshi Nakamoto through a blog post.
The blog post featured a disjointed demonstration of the signing of a private key, which appeared to be an attempt to verify that Wright had Nakamoto’s private Bitcoin key.
This verification was later rejected by the Bitcoin community.
Wright’s claim was supported by Bitcoin developer Gavin Andresen in his own blog post on the same day.
Andresen stated that he met with Wright in person in London, and personally witnessed Wright sign an arbitrary message using one of Nakamoto’s private Bitcoin keys.
Andresen later stated that he might have been cheated by Wright.
Related Sources Craig Wright claims to be the creator of bitcoin , Bitcoin Gizmodoo , Owner Bitcoin , Crypto News , Ninja Bitcoin and Cryptocoinsbitcoin.com
Halving Bitcoin July 9, 2016
Bitcoin Value: $ 652.14 Bitcoin Value 10 days later: $ 674.03
The block prize decreases for the second time in the history of Bitcoin, resulting in a new prize of 12.5 bitcoin per block being mined.
The 50% reduction automatically continues the original design of Bitcoin to gradually reduce the number of newly created bitcoins until the block prize ends fully, which is expected to occur in 2140.
Half prize blocks occur every 210,000 blocks and the next “Halved Day” is expected to occur in July 2020.
Sources Related to Halving Day Bitcoin 2016
Bitfinex Hacked 02 August 2016
Bitcoin Value: $ 594.86 Bitcoin Value 10 days later: $ 591.36
Bitfinex, the largest Bitcoin exchange by volume, announced that 119,756 bitcoin customer funds had been stolen through a security breach, a value of roughly equivalent to $ 72 million USD.
Bitfinex holds customer funds in multi-signature addresses together with its security partner BitGo. It is estimated that the attacker gained access to the private key for almost all Bitfinex customer accounts, as well as access to the BitGo API for Bitfinex accounts.
It is still unclear whether the customer’s funds are insured by BitGo and whether the customer will be fully replaced.
The price of Bitcoin fell almost 20% to $ 480 USD that day before starting a gradual recovery.
Others in the Bitcoin community suggest that prior knowledge of future hacking is used by unknown entities for insider trading because prices start to drop significantly before the announcement of Bitfinex.
Sources Related to Coindesk Bitfinex Hacked and Reddit Bitfinex Hacked
Donald Trump Elected as President November 9, 2016
The Bitcoin incident after Donald Trump officially became president
Bitcoin Value: $ 726.36 Bitcoin Value 10 days later: $ 749.1
In a shocking event, Donald Trump defeated Hillary Clinton and became the 45th president of the United States. The US market is down more than 1% and Mexican Peso has found a record low, and is now down 10% today at 20.22 pesos against the dollar.
Japan’s Nikkei 225 fell 5.4% while Hong Kong’s Hang Seng index lost 2.2%. The Shanghai Composite Index lost 0.6%. Dow futures fell 2.1%, S&P 500 futures were 2.3% lower and Nasdaq futures lost 2.7% around 6.30 a ET.
European markets opened sharply lower before reducing losses. The German DAX index fell around 1% after opening down almost 3%. France’s CAC 40 is in positive territory by 0.4% after a previous decline of 1.5% and Britain’s FTSE 100 fell by 0.3%.
Investors rushed to a perceived paradise, like gold, which rose $ 26.90 an ounce, or 2.1%, to $ 1,301.40.
Bitcoin has seen a sharp increase in value over the night up 5% in just 24 hours, but then throughout the day prices have stabilized at a total increase of 2.5%.
Sources Related to Bitcoin Trump Zerohedge.com and Bitcoin UsaToday
The price of Bitcoin broke through $ 1000 for the first time in 3 years – January 3, 2017
After Halving Bitcoin this number becomes historical because the price of Bitcoin penetrates $ 1000
Bitcoin Value: $ 1020.47 Bitcoin Value 10 days later: $ 806.94
After rallying most of the second half of 2016, Bitcoin broke the $ 1,000 mark for the first time in 3 years. Mass media coverage has brought in new users who are said to be raising prices even higher.
Sources Related to CNBC Bitcoin
SEC denies Winkelvos ETF – March 10, 2017
Bitcoin Value: $ 1201.86 Bitcoin Value 10 days later: $ 1037.85
The US government rejects the application of Tyler and Cameron Winklevoss – brothers who once claimed to be co-inventors of Facebook – to operate exchange-traded funds (ETFs) to make it easier for investors to buy Bitcoin.
SEC rejects second Bitcoin ETF application – 28 March 2017
Bitcoin Value: $ 1044.25 Bitcoin Value 10 days later: $ 1190.39
The US Securities and Exchange Commission on Tuesday denied for the second time in a month a request to bring to market the first bitcoin tracking product, the digital currency.
The SEC announced in filing its decision that NYSE Arca Intercontinental Exchange Inc. exchange the ability to register and trade SolidX Bitcoin Trust, exchange-traded products (ETP) that will be traded like stocks and track prices of digital assets.
Sources Related to CNBC Bitcoin
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