### History of Bitcoin: Key Events and Milestones

Bitcoin, the first decentralized cryptocurrency, has evolved from a niche technological experiment to a global financial phenomenon. Here's a chronological overview of its history, synthesized from multiple sources:

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#### **1. Precursors to Bitcoin (1983–2008)**

- **1983–1998**: Early concepts of digital cash emerged, including David Chaum’s **eCash** (1983), Wei Dai’s **b-money** (1998), and Nick Szabo’s **bit gold** (1998). These systems laid the groundwork for decentralized currency but lacked solutions to double-spending and Sybil attacks.

- **2008**: On October 31, an anonymous entity named **Satoshi Nakamoto** published the Bitcoin whitepaper, *"Bitcoin: A Peer-to-Peer Electronic Cash System"*, proposing a blockchain-based solution to decentralized currency.

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#### **2. Creation and Early Years (2009–2012)**

- **January 3, 2009**: Nakamoto mined the **genesis block** (Block 0), embedding the headline *"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"* as a critique of traditional finance.

- **January 12, 2009**: The first Bitcoin transaction occurred between Nakamoto and cryptographer Hal Finney.

- **May 22, 2010**: Programmer Laszlo Hanyecz paid **10,000 BTC** for two Papa John’s pizzas, marking the first real-world Bitcoin transaction (now celebrated as **Bitcoin Pizza Day**).

- **2011–2012**: Bitcoin gained traction among tech enthusiasts. Early exchanges like **Mt. Gox** launched, and the first **halving** (block reward reduced from 50 to 25 BTC) occurred in November 2012.

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#### **3. Growth and Challenges (2013–2017)**

- **2013**: Bitcoin’s price surged from $13 to over $1,000, driven by media attention and adoption by platforms like WordPress. However, China banned financial institutions from using Bitcoin, causing a temporary crash.

- **2014**: The **Mt. Gox hack** resulted in the loss of 850,000 BTC (worth $450 million at the time), shaking investor confidence.

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