How this all got started

2008 The Beginnings

2008 A mystery man by the name of Satoshi Nakamoto releases the first whitepaper online. - He introduces the concept of a peer to peer trustless system. A year later in 2009 the first blocks are mined and Satoshi sends over 10 coins to another wallet. In 2010 the first industrial miners appear and the price of Bitcoin starts to rise going from 1000 BTC ish being worth near a dollar to then becoming 1 to 1 then 100 to 1 and so on.

Back from the past!- Early going back to the 50's and 80's there were two similar concept that crashed and burn one called E-cash and another later called DigiCash. This two digital currencies had similar aspects to them. One argued for hashing with cryptography another found a way to make transactions private but not peer and failed preventing double spendings

Is it here to stay the blockchain?


Nobody knows ! - Blockchains have yet to prove any major gains yet so all is currently theoritcal and unknown bitcoin is the largest blockchain in existance and could be used for more like sending over passports with some tinkering here and there. Bitcoin can mainly only handling simple stuff which is why ethereum another blockchain based cryptocurrency the one that host crypto kitties has a whole additional smart contract framework. That meaning when certain conditions are met the contract or agreement executes no matter what . The blockchain has opened the avenue to some new business applications while at the same time also having poltical ramifications.

A brief reflection on digital money

Enjoy the Table

Year Creation Reason for failure
1982 - 1997 E-Cash Didn't catch on and company Digicash failed
1998 B-Money and BT Gold The groundwork was there but it was too soon
2008 Bitcoin Did not fail yet
2009 First bitcoin mined 10 coins given to another person

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