Bitcoin Forum

Bitcoin has evolved on different frontiers over the years; project development, value, public opinion, government interest, and of course there's the nay sayers constantly puzzled while it's still existing and always predicting it's end.

Early days (2009 - 2010)
Bitcoin did not always receive this attention, it was launched in January of 2009, by Satoshi Nakamoto  few months after the domain name bitcointalk.org was registered. Most of its users then we're tech inclined individuals some who did it for fun as a hobby


Bitcoin had it's first ROI in mid 2010 as it gained parity with the USD. After then it experienced a steady rise in users and the community started to grow. The first major setback came in August  2010 when an error in the system which allows users bypass economic restrictions was exploited and 184 bitcoins was generated.

This was also the year were Satoshi stepped down for the reins and faded into obscurity, apparently handing over to Graven Anderson who was the lead technological expert

Notwithstanding, popularity and confidence continued to grow and agencies started accepting bitcoin as donations, merchants started to slaowly wake up to it and some companies even offered her workers the option to take home a part of their salary in bitcoin.

2011 - 2013
In the price front, bitcoin grew exponentially during this time and also dropped as rapidly.
It reached $31 in 2011 dropping to $2 at the end of the year.
2012 was a slow year.
Then there's was a split in bitcoin transaction log during early 2013 and for a few hours, there were two bitcoin networks operating simultaneously.
This sparked off a very volatile year for bitcoin peaking at $1242 but also dropping  very suddenly. It was basically a pump and dump scheme during this time.
In the area of adoption there was steady growth during this time. Coinbase recorded selling $1million worth of bitcoin in a single month in 2013 and the open source code allowed organizations and platforms to freely use the system.

Mid Time (2014 - 2016)

This period was also met with even greater adoption as more outlets, merchants, companies, agencies and by now governments were getting actively involved in bitcoin.
It was no longer viewed as a pump and dump scheme but a valid investment option and an asset class.
Price movements were slow with reduced volatility compared to previous years (although still high) ranging from $200 - $800 during the time.
Now in addition to tech gurus, investors, traders, and individuals were getting interested.
Documentaries based on bitcoin were also released during this time.

2017;

Bitcoins legitimacy continued to grow and it gained credence, adoption also continued to grow rapidly with interest from all corners, academic and legislative. Governments were getting more actively involved as well.
And in March, it eclipsed the then peak set at 2013 ($1242) and this set of a massive surge which saw a new peak of $17900 set in Nov of 2017, which remains the current peak till today.
This was also the year of ICOs as bitcoins rise encouraged and supported similar rise in other digital currencies. This was the year bitcoin announces itself again to the world. And the issue of scalability became more prominent  as the protocol was struggling to cope with increased usage.
In 2017 BCH, BitcoinCash was forked out of bitcoin and this increased a single blocksize to 8MB. We have had other forms since then.

In between all these were important but too numerous to mention all, there was the costliest pizzas ever bought also the whale who was 'schooled' when he/she tried to manipulate and drop the price, and also reports of hacks with millions of dollars worth of bitcoin stolen.

2018 so far;
This year has been my favorite crypto year (my only year actually as I joined late) and it has had the most stability and it's support level has held off higher than any other year.
Some would argue that it has been a bearish year, especially when compared with.2017, but it has also renewed interest on the product and not just the profit.

What do you think the future holds...

Bitcoin has sure come a very long way in is ten year existence. And some who joined in the latter years may think they have missed the train, but I believe that the next years would be the best years.

This year has been the year of a particular menace called ICO, with the ever increasing proliferation of ICO projects,the market is kinda looking like a dumping ground(most of this ICO's don't even meet their soft cap), everyone is looking to get rich quickly through this means, neglecting the due process and patience required,80% of such projects have been a scam, and the year isnt over just yet.. Bitcoin still remains king amidst all this though

the situation with ICOs has not changed at all. from the first ICO to this day they are all bad and majority of them are obvious scams while the rest are non-obvious scams. that is why they have been getting dumped because this way of creating a new token has never meant to be used for long. it was a temporary fever in the market and the pumpers got the best out of it. now the time is up.

bitcoin has spent a long time developing, blocking the road for nearly 10 years it has reached more attention to the world. I think in the future Bitcoin will grow further, to cater to the needs of each business, each individual organization. I thought I had known Bitcoin quite late but I will try to learn more about them to learn to achieve what I had expected. If future Bitcoin misused the Bitcoin developers will find a way to overcome shortcomings extinguished as soon as it prepared to develop. Let's look now good things in the future.

You haven't mentioned Lightning network...

It can potentionally revolutionize Bitcoin transactions and cut down transaction fees and enhance decentralization.

Bitcoin halving is just around the corner and then, I think, we will see another milestone in the development of this cryptocurrency. In my opinion, after halving, the price of bitcoin will rush to the new heights.

until now the development of Bitcoin is getting better that's it has proven that in the future Bitcoin will be increasingly popular in the eyes of the world. Bitcoin has evolved into an asset and part of people's lives because this digital currency is very useful for making good profits in the future.

lightning network is not a bitcoin feature.
its a separate work for ANY COIN to use
people can link any altcoins chainhash to lightning and do offchain transactions with others who are also wanting to play with that coin.

its only currently talked about in regards to bitcoin because just mentioning bitcoin and something else in the same sentance gives that something else instant fame.
remember bitcoin had to change to be LN compatible. not LN was designed to be bitcoin compatible... that alone along with the chainhash required code shows LN is its own network.
and lastly LN is not a blockchain. LN is not peer to peer. LN is not a push network LN needs the users to be online to accept/route payment(you cant just send funds to anyone anytime)

LN is simply a separate service network that could be used for convenience by any coin. and is not a feature that bitcoin requires. so dont over promote LN as a needed solution for bitcoin because that just warps peoples minds into thinking that bitcoin just doesnt work/is broke and needs these separate networks. by saying bitcoin is broke and needs a separate network is foolish. and thats why many people want BITCOIN evolution and not other network evolution and takeovers

the october(2013) jump in price
the october(2013) release of the first asics..
not a coincidence

when hobby GPU miners realise they cant profit from mining because asics takeover. 2 things happen
1. hobby GPU miners stop buying GPU and electric to get btc. and instead just buy btc.
2. asic miners realise the costs of mining increase so refuse to sell so cheap

then speculators see a jump and FOMO to over-jump the value. (value =moon fomospeculation=mars)

From the history of bitcoin, we can see that there was a lot of ups and downs in bitcoin price.I believe that 2019 will be bitcoin year and  I still holding bitcoin for a huge pump.So just hold and hope.

Nice suggestion. I don't know so much about it and just started digging deeper. Need lots of getting around. Here's a link for anyone interested, https://lightning.network


Unlikely to be a coincidence. At the time there were many factors influencing price pump and drop.

I would say legislation point is far critical these days. At the beginning there was no one who ever thought that they will need to regulate the crypto to overcome the worst situation. With this I am referring to the situation where crypto is being used for the corruption purposes, investing black money, doing money laundering, drugs and black market trades etc.
Bitcoin has given big platform for the later mentioned stuff and its true as we have already seen many news about it.
I guess this is why legislations are now taking heads up and are being talk about in each and every country.

Initially there was no need of that because bitcoin was known to limited people, many of them though it wont even last for couple of years but it did and many more things are now changed because of that.

try not to look at ATH. look for the yearly bottom
dont surf at the tip of a tsunami alone where only 0.1% of traders got to experience personally.
stand at sea water level looking up, where everyone gets to experience, and notice all the waves and water level corrections after temporary events..... its much healthier for you

2016 always above $300
2017 always above $900
2018 always above $5800 

Bitcoin's future is good and there is no doubt about that. Blockchain technology is really an evolution of money transfer and that is essential for large businesses around the world. We have seen recent signs that large businesses such as BMW, Mercedes and some stores have accepted Bitcoin payments. In just two years, everything will be fine again. ;D

What we are saying here is not that much true! Its not really an evolution of the bitcoin but just some changes and upgrades that are made to bitcoin over the time. An evolution would be complete transfer of technology from one form to another with heavily modified features of the bitcoin and also its use in day to day life. I see nothing has changed since then except the fact that it has grown in its volume and prices. Now thats not an evolution but just the demand and supply algorithm playing around the gravity. It is fixed that over the time demand will rise and supply will go down to create that momentum.
Anyways, nice write up though.

the spark of the match was asics. but how big the flame of the 2013 ATH was as you said due to a few speculative factors that over priced it. which is why it corrected dow nonce the flame blew out

I was one of those fortunate who received about 50 BTC during the 2013 craze as part of my participation to work for someone to create faucets. They were making money out of it. I thought it will not drop but eventually did. I kept mine which price was $200. There were so much technical users here, debating about where the development should go but seem to be lesser these days.

So if you still hold bitcoin until the last year, I am sure that right now, you are a rich person in your town because you have 50 btc from 2013. Yes, I think bitcoin is evolve from time to time and now, we can see it's impact to the price which will increase more and more in the future. So we can buy more bitcoin again if we believe in bitcoin.

Hope that this evolution will lead to success specially there are some issues when it comes to its scalability. As adoption rises we are also nearing to face those issues. Hope there's a remedy for those issues in the near future or we will just cross the bridge when we reach there. I know that it will still took years to face those issues depending on the demand and adoption of the society.

Bitcoin right now has affected people in good and bad ways, since some of them uses cryptocurrencies as a source of income.i buy the dips.

I think that now everything is not so simple, and we will expect many interesting and not very twists. The cost will rise, the cost will fall, the main thing is to stick together)

bitcoin has always evolved year after year, and bitcoin is getting better until now and I believe that bitcoin in the future will get better, many people will use it as a transaction asset or tool, because bitcoin generates a lot of benefits for its users.

Yeah, it is a great journey of Bitcoin. Quite successful, limitless, and most famous crypto currency. Bitcoin was so strong initially as we compare to other crypto currencies. There was so rise & fall during BTC trading but really appreciated hodlers done great job. BTC stake holders had done great efforts for the success of Bitcoin.

the biggest force behind the 2013 bubble was Mt Gox and their fake pump of the bitcoin price with the power that they had at the time thanks to them controlling near 80% of the total market volume.

It is really good growing of btc from fast few years, it will change the world as digital world so we can invest and earn good profit.

Various sources say that over the past ten years after the crisis, many alternative asset classes have developed around the world, leading to the emergence of digital assets, which are the newest class with unique characteristics and traits that have no analogues in the past generation of technologies. Bitcoin is an example of one of the most common cryptocurrencies today in terms of market capitalization and network size. He certainly has a future, with the same ups and downs. In fact, whatever analysts and cryptocurrency holders say, but this is not the place to talk about stability and make predictions for the future.

Bitcoin has come far and the future looks like the whole government and financial institution adopting it to suit their local monetary policies demands. Bitcoin will in the future be accepted by the mainstream as the best money remittance with much freedom and affordability

you got a source for that volume claim? :)

i really have to disagree with the emphasis on mt gox. huobi and btc-china were huge drivers of the 2013 bubble. i was trading back then and they consistently led the market. i think people focus on mt gox because it was the largest exchange for western traders. it's a very western-centric view.

and the thing about the willy bot---or "tether printing" and other similar manipulation narratives---is that real traders and investors were paying those prices. people like me across the world were trading those order books, not just the willy bot. it may have played some role but it definitely didn't cause the bubble.

In my opinion, Bitcoin in the future will be used as a means of payment like money. Bitcoin is no longer used as an asset that is easily traded and traded. Making Bitcoin a digital asset traded on several exchanges will make its value unstable and very volatile. So in the future, every store and company will accept bitcoin as a payment instrument.

Bitcoin evolved over time, since its introduction in 2009 by by Satoshi Nakamoto. Flash forward form 2013 to 2018 and we can see bitcoin has stabilized quiet a bit and has a foreseeable future .

Great topic for the new comers and also a brief history lesson for all of us in the community. The future seems to great for bitcoin as it seems to becoming stable.

Very useful post for newbies. A lot of things are explained concisely. However I would rather not call it an evolution because it's only been a decade and although bitcoin has achieved many thing, it is yet to go under evolution big time

A very nice post indeed. The new comers and even the old ones will get a lot of informations. But it should be noted that bitcoin still has a long way to go and will achieve even bigger things.

The future of bitcoin is unpredictable just as its rise was not predicted the stages of bitcoin has been a high rising one from day one although some obstacles has come it's way but it found a way to stabilize it. So judging by that fact we hope the future is bright

Now we can see evolution of bitcoin is very good compared to history, it has reached better attention to the world now. the development is also make huge difference. 

Yes, you are correct. However, we don't know what will be the price of Bitcoin in next year or in next decade maybe. What if the Bitcoin will fall down to $10 each? Or maybe $100000? We don't know. But as far as we are still investing or using Bitcoin, bitcoin will still continue.

There are times that can make bitcoin soar, every year there is certainly an event that is able to awaken the future of this coin. The evolution of bitcoin always has a good impact on the development of technology.

Bitcoin has evolved tremendously since its inception in 2009,it has had numerous phases, but favorable and unfavorable,but despite all this it keeps making more and more waves in more and more places

It's now so obvious that the future holds so much for this network

Year 2009 is still the tremendous and the remarkable year in the history of crypto currency as this is the year when the bitcoin was invented by its so called founder SATOSHI NAKAMOTO,and 2009 will be the remarkable year in the history of economic world also , once it will get legalised all over the world, so the bitcoin evolution follows the same human evolution phylogenetic pattern and has evolved fmwith very fast rate as it was never that easy to have millions of haters to millions of investors all around the world.

It is great to see that the 10 years journey of btc, it is a best crypto in all time, but now the price is bit decrease and also i am sure that price will increase in next days.

Well what a good history in bitcoin but the current situation of bitcoin is really troubling we hope that as before this will also get better

In my opinion, bitcoin has it's own price evolution. This year may be in downfall and everyone is longing for a dump price but we must not lose our hopes for the coming years their will be a bright future for bitcoin.

we can see the great evolution of the bitcoin till today... it is already using in many platforms like hotels, mnc companies, automobile industries...also bitcoin is known by all over the world...

You might have to replace the part in Bold with this, Gavin Andresen. He was the lead developer for a while after Satoshi left the scene and then he quit for a while. Then he teamed up with Mike Hearn and they thought they had massive support from the community and they created Bitcoin XT. <They were wrong and it failed miserably>

This was an important event in Bitcoin's history, because it was the first attack from people that were one of our own.  >:( <Not from some external competitor>

You can truly see the evelution of bitcoin especially on its price. Try to see the chart of the bitcoin and you can see the big difference on the price that seems truly evolve. The evolving of bitcoin might sight a good future in cryptocurrencies.

now bitcoin is falling too far from the price of the start of the year, but I feel there will be developments for the future and sure it will be the best.
maybe for those who have passed the 7-8 year period with bitcoin this is nothing because they have everything from bitcoin to those who are just starting out maybe this is a disaster for bitcoin but I am sure of a better evolution of bitcoin

Again, this is beautiful only in words, how to confirm the presence of a corpse in the blockchain? There must be at least an oracle kotrry will load all death certificates, there must be more data, as this will be easy to install, and programmers will not create a complex system for such a game.

And smart contracts for the cue ball are not yet functioning, and it probably will not happen soon.

 

And finally, for the most fearful, most criminals will never go to kill for money, for honor, for their own, as self-defense, yes, but for money, no, this is a breeze, the murderers in prison are usually killed, if they go there miraculously hit, as they are usually removed immediately after the work.

This is not the criminal world, this is the world of politicians and special services, well, in the extreme case of Aligarhs, only there such an abomination happens, if you don’t treat them as such, there’s nothing to fear.

Does this post conveys ending of bitcoin? Why does OP stated mid days of bitcoin when in fact we do not really know the time frame for bitcoin to end. If it will going to end soon then OP is right we are reaching to end for now because it has already undergon Mid days of bitcoin. I was just hoping that it will no be like that for I want to recover first my losses on bitcoin investment.

Be patient, that this is not the end of bitcoin. Maybe in the previous year it was the beginning of the rise of bitcoin, we don't know for the future that bitcoin is a very good long-term investment, the loss problem that you experience has become a risk, so don't panic with what you have experienced, that bitcoin will grow again even if it can exceed the price in the past year ...

Future of bitcoin is good for me and there's nothing to worry about it.  Let's see what will happen this 2019. I'm here for long-term.  :)

Hello ovcijisir you can explain a little more accurately. I have a menu in mind, you may have heard information about when will launch this technology ?)

Any growth, both short-term and long-term, is mainly accompanied by falls and collapse, which can be observed on all charts of active projects. Thus, everything develops and lives along a sinusoidal trajectory, both in life and in finance. Bitcoin develops, which means that it will inevitably grow again.

Bitcoin has actually evolved overtime from inception, despite the various challenges faced with the cryptocurrency, both in recent times and in times past. For the fact that it is still in existence, regardless all odds, shows that it has the potential of gaining acceptance in the future.

That is a good post on the history of bitcoin. I would add it to memories and continue to write it as the world see bitcoin evolving

Look on this website: https://coinsutra.com/bitcoin-lightning-network/

There it is explained better then I can explain.

Don't understand what are you saying about menu?

Don't know when will it become operational. Maybe it already is.

We are in a stage where we can say that bitcoin is moderately successful, not only from the technological perspective but also regarding acceptance and reach. In the coming years, I can see it improve rapidly so that it can be used in day-to-day usage.