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History of Bitcoin cryptocurrency. Bitcoin is a decentralized cryptocurrency created in 2008 by the pseudonymous Satoshi Nakamoto. This account follows the people, events, and ideas that shaped Bitcoin.
Bitcoin grew from earlier digital-cash research. David Chaum and Stefan Brands developed issuer-based electronic cash, Adam Back created the Hashcash proof-of-work system, and Wei Dai and Nick Szabo proposed b-money and bit gold. Hal Finney later built reusable proof of work.
On 18 August 2008, the domain name bitcoin.org was registered.
On 31 October 2008, Nakamoto published the Bitcoin white paper. The network began on 3 January 2009 with the Genesis Block.
The project was registered on SourceForge on 9 November 2008. Bitcoin v0.1 followed on 9 January 2009, and the Genesis Block created the first 50 bitcoins.
On 12 January 2009, Nakamoto sent Hal Finney the first recorded person-to-person Bitcoin transaction.
On 22 May 2010, Laszlo Hanyecz used 10,000 BTC to arrange the purchase of two pizzas, one of Bitcoin's earliest widely remembered commercial purchases. As Bitcoin's open-source network grew, other cryptocurrencies began to appear during 2011.
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Static Cointelegraph selection · 20 August 2026
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Bitcoin is a peer-to-peer digital currency and payment system introduced by Satoshi Nakamoto. Start with its design, history, network, and terminology.
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Interesting Facts
- The Genesis Block was mined on 3 January 2009.
- One bitcoin can be divided into 100 million satoshis.
- Bitcoin uses a public blockchain to record transactions.
- The network uses proof of work to confirm blocks.