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The Bitcoin white paper was born 12 years ago, what has happened to Bitcoin in retrospect?

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On October 31, the Bitcoin white paper entered its 12th year.

A lot has happened in the years since Satoshi Nakamoto released the Bitcoin white paper on this day 12 years ago.

October 31st is the twelfth birthday of the Bitcoin whitepaper. No party, no cake: Bitcoin's friendship network is decentralized and its creators anonymous. However, since its release, the white paper has had a profound impact on the world. what happened? Let's take a look:

2008: The Birth of Bitcoin

On October 31, 2008, the story began. Satoshi Nakamoto, the pseudonym of the anonymous creator (or team of creators) of Bitcoin, published the Bitcoin White Paper: A Peer-to-Peer Electronic Cash System. In it, Satoshi sketched out plans for a system that would allow "online payments to be sent directly from one party to another without going through a financial institution."

Lehman Brothers, one of the largest investment banks in the And closed down. That’s Bitcoin’s raison d’être — when America’s centralized financial system crashed, the decentralized system’s market gap opened the way for bypassing its heavy blow.

2009: The Year of Bitcoin

The launch of Bitcoin in 2009. In January, Bitcoin's code was released as open-source software, and the Genesis block (Bitcoin's first block) was mined. Satoshi Nakamoto mined the first 50 bitcoins, but they were worthless at the time. A few weeks later, Satoshi Nakamoto sent Hal Finney 10 bitcoins in the first bitcoin transaction between two people. When Bitcoin took a step from 0 to 1, WikiLeaks released 400,000 documents about the Iraq war and was sentenced to life in prison.

2010: Bitcoin Pizza Day

Bitcoin shares 2010 birthday with Instagram. The photo-sharing app launched on October 6. In 2010, bitcoin was worth about $0.20, and hit a new high of $0.39 during the year. Nakamoto, who had dug up about a million bitcoins at the time, handed over the keys to the bitcoin code repository to Gavin Andresen. 2010 was also the year of the "Bitcoin Pizza Day": on May 22 of that year, Laszlo Hanyecz paid 10,000 bitcoins for two pizzas from Papa John's. At current prices, the two pizzas are worth more than $137 million.

Years later, Hanyecz expressed optimism about his multimillion-dollar purchase, telling the New York Times: "Bitter Coins don't have any value, so the idea of trading them for pizza is pretty cool [...] No one knew it would get so big."

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2011: The First Bitcoin Bubble

Bitcoin started to rise in 2011, Darknet markets have been quick to take note of their anonymity, with Silk Road being one of the most famous darknet marketplaces where anyone can trade guns, drugs and other illegal contraband for Bitcoin. Later, the founder and team of Silk Road admitted to being arrested one after another, and the founder was sentenced to life imprisonment. At present, the founder of Silk Road is still in prison insisting on the appeal, and is always paying attention to the dynamics of the encryption market.

2011 was also the first Bitcoin bubble: the price of Bitcoin skyrocketed, rising to to $31.50, but by Bitcoin's third birthday, the price fell to $3.12. Early signs of volatility continue to weigh on cryptocurrencies to this day. Bitcoin also met competition on its third birthday: Litecoin, which was rumored to be "the silver of Bitcoin's gold." Litecoin was launched in October 2011.

2012: Blackouts, strikes

< p line="7bnW">October 31, 2012, the triumph of Bitcoin; on this day, because of Hurricane Sandy, the New York Stock Exchange was closed for two days before reopening after the hurricane left. Bitcoin, by contrast, remains operational at all times, providing ample evidence of the power of the decentralized web. The price of Bitcoin continued to rise throughout the year: by October, it reached a high of $12.4. The average price was $5.27, up 1,656 percent from 2011.

September by Gavin Andresen, Jon Matonis , the Bitcoin Foundation was formed led by Patrick Murck, Charlie Schrem and Peter Vessenes. Bitcoin payment service BitPay has announced that 1,000 merchants have started accepting payments via Bitcoin.

2013: Silk Roads Taken

< p line="dNVv">In February 2013, Coinbase reported sales of more than $1 million, and in March, Bitcoin's market capitalization exceeded $1 billion. Silk Road, which opened in 2011, was seized by the FBI in October; its founder, Ross Ulbricht, is now serving a life sentence without parole; in 2020, he celebrated I was in prison for my 7th consecutive birthday. From 2011 to 2013, sellers on Ulbricht's site earned more than $214 million, prosecutors said.

By its third birthday, Bitcoin's market cap has surpassed $2 billion, with a single bitcoin worth over $200. Peter Higgs and Alice Munro won Nobel Prizes elsewhere in the world.

2014: The Mt. Gox exchange was hacked and the market was hit hard

By Bitcoin's sixth birthday, its market capitalization exceeded $4 billion, with a single bitcoin priced at $329 and a daily trading volume of more than $13 million. But a nightmare is creeping in: In February 2014, cryptocurrency exchange Mt. Gox had 744,000 bitcoins stolen and had to stop accepting withdrawal requests; these bitcoins were worth about 473 million U.S. dollars, which account for 6% of Bitcoin supply. About 200,000 bitcoins have been recovered, but the rest have disappeared from the market and are unlikely to be recovered.

2015: Sales increase

to 2015 At the end of October 2019, the market capitalization of bitcoin was $4.6 billion, and the price of a single bitcoin was $312. Bitcoin’s daily trading volume soared to $52 million despite stagnating price and market capitalization.

2016: Bitcoin goes mainstream

In 2016, the price of Bitcoin started to rise. On the white paper’s birthday, its 24-hour trading volume reached $93 million, its market capitalization reached $11 billion, and the price of a single bitcoin was $703. A growing number of high-profile businesses are accepting bitcoin, including Valve's Steam video game store and ride-sharing service Uber.

Colombia signed a peace deal with FARC rebels in October, Kim Kardashian ( Kim Kardashian had $10 million stolen from her in a Paris hotel room. If she kept it in Bitcoin...

2017: The Bitcoin Bubble

In 2017, the United States ushered in a new president: Donald Trump, but for cryptocurrency holders, that was Bitcoin The year of the currency bubble.

On October 31 of that year, the value of one bitcoin was $6,131, and its market value exceeded $100 billion, The figure is partly attributable to CME’s listing of bitcoin futures contracts. CME traded $460 million in its first week of listing. That price soared above $20,000 in December. On December 7, nearly $50 billion in bitcoin was traded.

2018: The market crashes, but there is still hope

In 2018, everything fell apart. The market, based purely on speculation, suddenly reversed, with Bitcoin falling to $6,538 in February. Cryptocurrencies have had a rough year: Bitcoin is at $6,325 on the 10th anniversary of the white paper. While its market capitalization remains strong at $109 billion, the cryptocurrency's collapse has sparked outrage and backlash from mainstream publications and social media.

Twitter, Facebook and Google are officially banning ads for cryptocurrencies including Bitcoin. Google and Facebook have since lifted the bans, as Facebook tries to make its own digital currency Libra stand out, so it is all-in to rush into the crypto market.

2019: Bitcoin is back

After falling prices further in 2018, the market started to flock back in 2019. Bitcoin started the year at $3,764 and surged to $13,796 in July. Since then, its price has fluctuated but remained relatively firm, driven by China's acceptance of the underlying technology, blockchain.

On its 11th birthday, bitcoin was worth about $10,000 and had a market cap of about $165 million. At that time, the Bitcoin network included more than 55,000 nodes, while more than 820,000 addresses had transacted Bitcoins.

2020: New Heights

2020. With the stimulus of the upcoming Bitcoin halving, Bitcoin is starting to pick up strength. But few people can foresee how this year will develop, because the new crown virus swept the world in March, the world economy was hit hard, and Bitcoin was not alone, plummeting to less than $4,000 on March 12.

But as global stimulus tightens, bitcoin comes to prominence as investors seek it as a hedge against inflation Hedging tool. The price of bitcoin hit around $10,000 and stayed there for the rest of the summer. The series of financial shocks to which the world economy has been subjected seems to demonstrate the case that Bitcoin is antifragile - not only resistant to shocks and stresses, but stronger to them.

Then the big money started pouring in. Institutional investors such as Grayscale and Square scooped up large amounts of Bitcoin, and digital payments giant PayPal introduced buying and selling of cryptocurrencies, opening the door to mass adoption of cryptocurrencies.

The news sent Bitcoin’s price soaring above $13,000; On its 12th anniversary, it reached its highest price since 2018. People from Grayscale CEO Michael Saylor to JP Morgan who have bashed bitcoin have bowed in to the cryptocurrency's praise.

One thing is for certain: what happened next, Bitcoin is nothing like it was when it was first born 12 years ago .