#BTCBullRun2025 $BTC
Bitcoin – what is it and how did it come about?
Bitcoin (BTC) is the first and most famous cryptocurrency, created in 2008 by an anonymous person or group of people under the pseudonym Satoshi Nakamoto.
How did Bitcoin come about?
1. White Paper
On October 31, 2008, Nakamoto published a document called “Bitcoin: A Peer-to-Peer Electronic Cash System”. It described the mechanism of operation of the digital currency, which allows payments to be made without banks or intermediaries.
2. Network launch
On January 3, 2009, the first block in the Bitcoin blockchain was generated – the Genesis Block.
3. First transaction
On January 12, 2009, Satoshi Nakamoto sent 10 BTC to programmer Hal Finney, which became the first known transaction on the network.
4. First purchase with bitcoins
On May 22, 2010, programmer Laszlo Haniec bought two pizzas for 10,000 BTC. This day is known as Bitcoin Pizza Day.
How does bitcoin work?
• Decentralization - there is no single controlling authority (unlike banks).
• Blockchain - a technology that records all transactions in a public ledger.
• Mining - the process of confirming transactions and creating new bitcoins.