Why January Is A Historic Month For Bitcoin

It’s astir hard to judge that aboriginal successful 2022, Bitcoin volition observe its 14th “birthday.” Over the past 14 years, Bitcoin has made large strides, increasing ridiculously and mounting itself up to usurp the U.S. Dollar arsenic the world’s reserve currency.

Although Bitcoin has been astir for what seems to beryllium forever, the period of January has been important implicit the years with respective historical events and milestones successful Bitcoin’s past.

2009: The Dawn Of Bitcoin

On January 3, 2009, months aft publishing the Bitcoin achromatic paper, Satoshi Nakamoto made past erstwhile helium mined the Bitcoin genesis block, signing it with the message, “The Times Jan/03/2009 Chancellor connected brink of 2nd bailout for banks,” officially launching the Bitcoin web and highlighting immoderate of the fiscal turmoil that inspired his invention of Bitcoin.

A specified six days later, connected January 9, the archetypal Bitcoin (0.1) lawsuit was released, enabling users to execute Bitcoin transactions and paving mode for the archetypal Bitcoin transaction to instrumentality spot connected January 12, erstwhile Satoshi Nakamoto sent Hal Finney 10 BTC connected artifact fig 170.

2010: The True First Bitcoin Purchase?

Nearly everyone knows the communicative of Laszlo Hanyecz who famously paid 10,000 BTC for 2 ample pizzas successful May 2010, and it has mostly been accepted arsenic the archetypal “real world” acquisition utilizing bitcoin. However connected January 24, 2010, a BitcoinTalk forum user, Sabunir, posted a thread connected the forum titled “A newb's trial - anyone privation to bargain a representation for $1?” wherever helium asked if anyone wanted to acquisition a wallpaper for $1 successful bitcoin.

He posted his wallet code and a specified period later, 2 freshly mined batches of 50 BTC were sent to his address, which whitethorn precise good person been idiosyncratic “purchasing” his wallpaper, a elemental 1,280 x 960 representation that is nary longer disposable connected the forum post. If this acquisition did successful information happen, it would beryllium the existent archetypal “real world” acquisition utilizing bitcoin and different milestone for the integer currency we cognize today.

2011: Bitcoin For Nonprofits

On January 20, 2011, the Electronic Frontier Foundation (EFF) made past by becoming the archetypal nonprofit enactment to judge donations successful bitcoin, paving the mode for galore others successful the years to come. By June 2010, they would halt accepting donations, close earlier WikiLeaks started accepting bitcoin donations, but they would resume accepting bitcoin again by May 2013.

Another historical occurrence happened successful January 2011, erstwhile 3 radical each bought 4 BTC astatine a complaint of Z$100,000,000,000,000, that is 1 100 trillion Zimbabwean dollars utilizing an OTC service. To this day, it continues to beryllium the largest ever azygous numeric worth traded for bitcoin.

2012: Made For TV

By 2012, Bitcoin had started making waves crossed the world, and it was featured connected “The Good Wife,” play 3, occurrence 13, titled “Bitcoin for Dummies.” It saw a lawyer being defended for not revealing the individuality of his client, who supposedly created Bitcoin. The episode, which aired connected January 15, recorded 9.45 cardinal U.S. viewers watching erstwhile a azygous bitcoin outgo conscionable $6.90. It was archetypal lawsuit of Bitcoin being featured successful the mainstream media extracurricular of quality broadcasts.

2013: Entering The Startup Scene

Three years aft going live, and astir 5 years aft its archetypal introduction, investors started taking announcement of Bitcoin-related startups. On January 7, BitPay, a Bitcoin outgo work supplier founded successful 2011, became the archetypal Bitcoin-related startup to rise task superior backing with a $510,000 backing round. It would rise an further $2 cardinal aboriginal that year.

2014: Games And Gambling

By January 2014, things were heating up arsenic much and much companies started accepting payments successful bitcoin. Zynga, the mobile developer down everyone’s favourite mobile games specified arsenic FarmVille, announced plans connected January 4 to let users to marque in-game purchases utilizing bitcoin. Initially, it was constricted to lone 7 titles portion the institution tested payments utilizing BitPay’s infrastructure.

Later that month, connected January 21, 2 Las Vegas hotels and casinos announced plans to commencement accepting bitcoin successful prime parts of their properties. The D Las Vegas Casino Hotel and Golden Gate Hotel and Casino became the archetypal properties successful Sin City to commencement accepting bitcoin, agelong earlier it became the mainstream currency it is today.

Interestingly, the February 2014 carnal transcript of Bitcoin Magazine, written successful January 2014, would aboriginal be exhibited successful the National Museum of American History by the Smithsonian Institute.

2015: Rise And Fall

Bitcoin kicked 2015 disconnected rather turbulently, seeing 1 of its largest monthly declines astatine the clip with a 30.9% dumping during the people of January 2015. Not each was atrocious backmost then, however, Coinbase’s $75 cardinal Series C was noted arsenic the largest fundraising for a Bitcoin-related institution astatine the time, launching it’s Coinbase Exchange aboriginal that month.

At the time, Coinbase focused exclusively connected Bitcoin and had helped companies specified arsenic Overstock, Dell, Expedia, Dish Network and Time Inc. commencement accepting bitcoin payments. It would besides spouse with outgo providers Stripe, Braintree and PayPal to process bitcoin payments.

2016: Forking Madness

January 2016 saw the archetypal of galore failed Bitcoin forks being introduced with Bitcoin Classic entering the ring. It wouldn’t past agelong but would animate galore others to motorboat Bitcoin forks, astir of them arsenic portion of a speedy currency grab. Bitcoin, arsenic the lone existent Bitcoin, would proceed to spot tremendous maturation and adoption implicit the years to come. Interestingly, the Bitcoin web hash complaint would besides extremity up exceeding 1 exahash per sec for the archetypal clip successful January 2016.

2017: The Start Of A Bull Run

January 2017 started disconnected an overly bullish year, which saw bitcoin surpassing $1,000 for the archetypal clip successful 3 years; it would aboriginal tally to conscionable nether $20,000 earlier a melodramatic diminution successful precocious 2017.

2018: Governments Attack Bitcoin

After its melodramatic surge successful precocious 2017, January 2018 saw 1 of the largest planetary governmental FUD campaigns against Bitcoin. During that period the banks and governments of Bahrain, Bosnia and Herzegovina, China, Ecuador, Egypt, Ghana, Honduras, India, Indonesia, Kyrgyzstan, Kosovo, Mozambique, Netherlands, New Zealand, Poland, Slovenia, South Korea and Tajikistan powerfully opposed bitcoin arsenic a currency.

More countries would travel successful the months thereafter and, by the extremity of January 2018, Facebook would prohibition each cryptocurrency-related ads from its planetary platform. Interestingly enough, it wasn’t each doom and gloom backmost past arsenic Samsung partnered with a Chinese steadfast to commencement creating chips and semiconductors for Bitcoin miners, a Swiss municipality started accepting bitcoin payments and the Peter Thiel Foundation bought bitcoin.

2019 (And Beyond)

After the melodramatic autumn astatine the extremity of 2017 and aboriginal 2018, Bitcoin hardly near the nationalist eye. Instead, the cautious capitalist dilatory accumulated much and more, portion bitcoin went connected ups and downs passim the remainder of 2018 and astir of 2019. Leading up to the eventual halving successful May 2020, Bitcoin started a melodramatic surge successful the second portion of 2019, close earlier the planetary COVID-19 pandemic.

Although thing overly important took spot during these times, Bitcoin did surpass $40,000 for the archetypal clip during January 2021, starring to its historical $1 trillion marketplace headdress not excessively agelong thereafter. Additionally, January 2022 hasn’t been without its historical happenings either: On January 2, the Bitcoin hash complaint exceeded 203.5 exahashes per 2nd for the archetypal time, rising implicit 200x successful the preceding six years.

Bitcoin celebrates galore historical milestones during the period of January, 1 whitethorn adjacent telephone it Bitcoin’s existent commencement period if 1 considers the web went unrecorded successful January 2009 erstwhile Satoshi mined the genesis block. All things considered successful the end, January should beryllium a period of solemnisation for everyone successful the community, looking backmost astatine years of milestones, maturation and the gathering of a global, lasting community.

This is simply a impermanent station by Dion Guillaume. Opinions expressed are wholly their ain and bash not needfully bespeak those of BTC Inc. oregon Bitcoin Magazine.