Today is Bitcoin’s 11th anniversary. On this day, October 31, 2008 (11 years ago), someone under the name of Satoshi Nakamoto published the whitepaper of the first cryptocurrency.
It was on this day in 2008 that the Bitcoin whitepaper was first shared with the world. Since then it has helped establish a new era of money that transcends borders and the need for a central authority. Haven't read it? Treat yourself: https://t.co/zOAmJTsjcu pic.twitter.com/cZlLPvDDNx
— Blockchain (@blockchain) October 31, 2019
BTC has grown significantly in price over the period of its existence. The statistics of the last eight years are as follows:
As we can see, the first cryptocurrency demonstrates a stable growth throughout the history of its existence. Note, at press time, Bitcoin is trading at $ 9.039, demonstrating a decrease of 1.74%, according to CoinMarketCap data.
At the same time, the level of fees in the cryptocurrency network exceeded $ 1 billion.
It's official. The Bitcoin network has surpassed 1 billion USD in cumulative fee revenue. pic.twitter.com/lKzstEX3eI
— Yassine Elmandjra (@yassineARK) October 30, 2019
At the same time, the first cryptocurrency can be considered one of the most secure computer networks in the world. Today, its computing power is more than 91.2 EH/s with a previously set record of 114 EH/s.
Against the background of the anniversary, the participants of the crypto community decided to remember how the BTC path began. Interchange CEO Dan Hedl published in his Twitter an excerpt from a 2012 study of the European Central Bank, in which the regulator’s experts predicted the potential of digital currency:
“Bitcoin could have a negative impact on the reputation of central banks, assuming the use of such systems grows and in the event that an incident attracts the press, since the public may perceive the incident as being caused by a central bank not doing its job properly.”
According to commentators on the network, the forecast of European Central Bank experts was prophetic. Perhaps that is why today bitcoin is paid a lot of attention. While regulators in some countries are trying to ban cryptocurrencies, others study the technology more carefully. For many people, bitcoin is primarily freedom from control by the authorities. Therefore, it is interesting especially for those who wish not to depend on banking operations.
Meanwhile, customers are starting to lose confidence in classic financial institutions. Against the backdrop of recent failures of Bank of America systems, a large number of posts have appeared on the network in which users urge banks to abandon in favor of Bitcoin.
Remember this next time you can’t take your own money out of the bank:
There is a ₿etter way! pic.twitter.com/WvIovZLR0h
— David Nage🎯 (@DavidJNage) October 30, 2019
The gradual increase in the number of BTC users is also indicated by the increase in the number of registered cryptocurrency wallets.
During this time, Bitcoin to become a full-fledged financial asset integrated into the global economy. The coin attracted people’s attention due to the innovative concept of a decentralized network, which made it possible to make money transfers without the supervision of banks or government bodies. Bitcoin became the foundation for creating a new business area – the crypto industry, which market capitalization reached over $ 500 billion in 2017.
The technological development of Bitcoin is moving at a moderate pace. Perhaps someone will point out that these growth rates are not enough for the development of this cryptocurrency, it should be noted once again that the network has a high degree of security.
But confidence in the future is the most important thing for every person. Bitcoin does this pretty well.
This year, Bitcoin Core released 0.17.1, 0.18.0 and the latest – 0.18.1. Perhaps this is the last achievement of the team made this year.