June 6, 2018

Origin of Bitcoin Crypto currency Technology

The first concept of bitcoin crypto currency was made by a man called Satoshi Nakamoto in 2009 when he published the first proof of the concept for Bitcoin technology being used today. No wonder the smallest denomination of bitcoin is called Satoshi (100,000,000 Satoshi = 1BTC) - named after him.  He went into thin air the following year and up to this day, his identity remains a secret.

According to a business technology expert, Don Tapscott

“blockchain [and Bitcoin] technology facilitates peer-to-peer transactions without any intermediary such as a bank or governing body.”

1 Satoshi= 0.00000001 ฿
100,000 Satoshi= 0.00100000 ฿
1,000,000 Satoshi= 0.01000000฿
10,000,000 Satoshi= 0.10000000 ฿
100,000,000 Satoshi= 1.00000000 ฿

Afterer Satoshi  Nakamoto left the Bitcoin project in 2010, it was developed by some individuals who made the project an open-source code that could be publically viewable and modified by anyone who got access to it. This decentralized development of Bitcoin came after the financial crash of some world powers in 2008, which created a fundamental distrust among the business public of a centralized economy. See short YouTube video that shows you how Bitcoin works

Below is an original whitepaper from Satoshi's original whitepaper

Bitcoin has over the year seen record highs hitting over $15,000.


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