Bitcoin (BTC) Price and Analysis

Bitcoin Overview

Bitcoin (BTC) first appeared in the crypto scene in August 2008 when the domain bitcoin.org was registered. Later in 2008 a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was authored by Satoshi Nakamoto. Only a few months later on January 3rd 2009, the Bitcoin network was born, and Satoshi mined the genesis block of Bitcoin, returning a reward of 50 Bitcoins.

So who is Satoshi Nakamoto? The truth is, nobody knows. Satoshi’s identity has never been revealed nor connected to a real identity, so no one knows whether Satoshi is a man, a woman, a group of people or whether they are still alive. During the early Bitcoin days, the first three years, in fact, Satoshi was active. He/she/they were developing the Bitcoin software and responding to communications from crypto enthusiasts but all of this would abruptly stop. Satoshi’s internet presence vanished in 2010, and the last known person to communicate with Satoshi was Mike Hearn, an early Bitcoin developer. If he is still alive, he still holds the keys to 1 million Bitcoin, giving him a hefty net worth.

The Bitcoin core code that was created by Satoshi is written in the C++ programming language and is open source, meaning it’s available to read and contribute to. Confident programmers can do so here. The Bitcoin core code has seen 611 contributions so far.

Up until 2010, Bitcoin was mined but not traded, which changed in 2010 when one miner called Hayecz decided to swap 10,000 Bitcoins for two large pizza’s from Papa John’s (around $30 at the time). After that, Bitcoin took off and we can only hope that Hayecz now sees the humor in losing out on millions of dollars for two pizzas.

Bitcoin was the first cryptocurrency and currently still the largest one by market capitalization, but it also initiated something big. By 2011 other rival cryptocurrencies were popping up everywhere, a trend we have seen continue to this day. There is a unique culture around Bitcoin in a way that doesn’t exist for many other crypto coins. For example, there is a group of crypto enthusiasts whose motto is “Use only bitcoin, eat only meat.” This group largely communicates online, gathering like-minded people who then meet up for a “meat-up” where they go for a steak or grilled meat.

In 2018 Bloomberg investigated the average Bitcoin owner and discovered that: 71% of Bitcoin owners are male, 58% are between the ages of 18 and 34 years old and over 50% are from an ethnic minority.

Latest Bitcoin News

Analysts Disproves Cryptocurrency Money Laundering Article by the WSJ

It's no secret that some media outlets and journalists have a grudge against the decentralized cryptocurrencies. The main reason for ...
Read More

Crypto Data Company CoinMarketCap Rolls Out Cryptocurrency Indices on Bloomberg, Reuters, NASDAQ

CoinMarketCap has long been one of the leading data collectors and distributors for cryptocurrencies and digital assets. Now, it has ...
Read More

Venezuela’s Maduro Regime Targets Cryptocurrency Remittances to Finance Itself

According to a report published by Bloomberg back on January 31st, Venezuelans were moving to the black market to buy ...
Read More

Digitec Galaxus Becomes the First Swiss Online Retailer to Accept Cryptocurrencies

The biggest online retailer in Switzerland, Digitec Galaxus, has recently announced that it will now accept cryptocurrencies as a medium ...
Read More

The Winklevoss Twins Don’t Seem Bothered by the Crypto Winter

All of us remember the infamous Winklevoss brothers from the 2010 movie, The Social Network. These were the same brothers ...
Read More

Bitcoin Price Technical Analysis (March 18th): Stuck Between Support and Resistance

Looking at the chart below, we can see that BTC is trading at around the $4,000 mark. The price is ...
Read More

Armed Robbers Steal a Bitcoin ATM from a Shop in the UK

When it comes to news about some sort of online theft, one can easily expect Bitcoin or other cryptocurrency to ...
Read More

Yale Finance Professor: Bitcoin Is neither a Great Currency nor Good Store of Value

On March 15th, a Yale professor gave an interview in which he says that Bitcoin is not a great store ...
Read More

TRON Founder Expresses an Optimistic View about the Future of Bitcoin and Cryptocurrencies

Kicking off the year with a strong start, the Chief Executive Office of TRON (TRX) Justin Sun says he believes ...
Read More

Green Is the Answer? Bitcoin Miner Turns Profit by Going Solar

There has been a lot of talk online about the environmental and energy footprint of Bitcoin mining. Critics have thrown ...
Read More