Bitcoin, created by Satoshi Nakamoto in 2009, has become a symbol of a new era in finance. This article examines how it started and how it changed the world.
Bitcoin's Humble Beginnings
Bitcoin was introduced in October 2008 with the release of the famous whitepaper 'Bitcoin: A Peer-to-Peer Electronic Cash System'. The Bitcoin network launched on January 3, 2009, but at that time, it had no value and was not traded on any exchange.
The First Price Determination of Bitcoin
The first attempt to assign real-world value to Bitcoin occurred on October 5, 2009, when the NewLibertyStandard platform set the exchange rate at 1 USD = 1,309.03 BTC, indicating that Bitcoin was worth less than 1 cent at that time. From 2010, Bitcoin started to be traded on the BitcoinMarket.com exchange, and by mid-2010, its price reached $0.08.
The Socioeconomic Impact of Bitcoin
Bitcoin has revolutionized the understanding of money, becoming a symbol of financial freedom. It provides access to financial services in regions with weak banking infrastructure and has become an important tool in combating hyperinflation. However, it also raised ethical questions about its use in illegal activities and its environmental impact.
Thus, Bitcoin, which started its journey with zero value, has become a major player in the financial arena. Its impact on the economy and society continues to grow.
