Auto Added by WPeMatico
No one remembers the first Mt. Gox hack. It was a small sum, even by 2011’s standards, and the exchange reimbursed all users. The incident was to prove significant, however, for it set in motion a string of attacks on other bitcoin platforms that began the very next day. By the time the dust had […]
The post Bitcoin History Part 16: The First Mt. Gox Hack appeared first on Bitcoin News.
Powered by WPeMatico
Bitcoin and poker have a history that stretches back to the very start. Perhaps, even, to before the start of Bitcoin as we know it, for there is evidence that Satoshi had a background in poker. What’s beyond dispute is that in March 2010, the world’s first bitcoin poker tournament took place, with the nascent […]
The post Bitcoin History Part 14: The 1,000 BTC Poker Game appeared first on Bitcoin News.
Powered by WPeMatico
Pseudonymous Grin founder Ignotus Peverell has stepped away from the project, reassuring the privacy coin’s community that it is in “safe hands.” The move has sparked inevitable Satoshi Nakamoto comparisons. Bitcoin’s pseudonymous creator used almost identical language eight years ago, writing in an email that “I’ve moved on to other things,” before adding “It’s in […]
The post Satoshi Comparisons Surface After Grin Founder Exits in Similar Circumstances appeared first on Bitcoin News.
Powered by WPeMatico
Since the very start, people have lost bitcoins due to human error. Mislaid wallets, forgotten passwords, broken hard drives, hacks, and scams have conspired to remove over 20% of all BTC from circulation by some estimates. The dubious accolade for the first major bitcoin loss goes to forum member Stone Man, who, on August 10, […]
The post Bitcoin History Part 11: The First Major Loss of Coins appeared first on Bitcoin News.
Powered by WPeMatico
There was something unusual about Bitcoin block 74638. It was Core developer Jeff Garzik who first spotted it, commenting on the “quite strange” transaction outputs, which stood at 92233720368.54 BTC apiece. That wasn’t meant to happen. Within an hour, another forum user had started a thread titled “overflow bug serious” in which he implored “We […]
The post Bitcoin History Part 10: The 184 Billion BTC Bug appeared first on Bitcoin News.
Powered by WPeMatico
“Hi everyone, I just put up a new bitcoin exchange. Please let me know what you think.” With those innocuous words, one of the most notorious sagas in Bitcoin’s early history began. The name of the exchange was Mt. Gox and it was to play a pivotal role in Bitcoin’s rise – for a while, […]
The post Bitcoin History Part 9: Mt. Gox Is Born appeared first on Bitcoin News.
Powered by WPeMatico
How much is one bitcoin worth? In fiat currency terms, that’s a constantly shifting answer, but ever since the beginning, the following has held true: one bitcoin is worth as much as the buyer is willing to pay. Today, that’s likely to be a few thousand dollars, but back in the day, the reverse was […]
The post Bitcoin History Part 8: When 1,500 BTC Cost Less Than $1 appeared first on Bitcoin News.
Powered by WPeMatico
Hacks and heists have been a threat for as long as bitcoin has been worth stealing. By 2011, as Bitcoin was easing into its second year of life and its first bubble, early cryptocurrency exchanges were bringing liquidity and price discovery to the nascent ecosystem. At the same time, they were providing an outlet for […]
The post Bitcoin History Part 7: The First Major Hack appeared first on Bitcoin News.
Powered by WPeMatico
Aside from mining, the only way to obtain bitcoin in the very early days was by trading it on forums or IRC. This arrangement relied on the other party fulfilling their side of the deal, since there were few escrow services back then. Bitcoin didn’t have to wait long for a dedicated exchange to spring […]
The post Bitcoin History Part 6: The First Bitcoin Exchange appeared first on Bitcoin News.
Powered by WPeMatico
With today marking the tenth anniversary of the Bitcoin whitepaper, the web is predictably thick with op-eds, retrospectives and thought pieces. While Oct. 31, 2008 is hailed as a pivotal moment in monetary history, at the time, few noticed the publication of the Bitcoin whitepaper to a cryptography mailing list. Like all revolutions, this one […]
The post Bitcoin History Part 1: In the Beginning appeared first on Bitcoin News.
Powered by WPeMatico