Bitcoin Forum

What is the First Cryptocurrency(First digital money)?

Nope. Bitcoin is just the first one that actually became decently successful and actually gained recognition everywhere. Most people just haven't heard of the past attempts for a global currency just because they weren't successful.

Read this: https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/

What made bitcoin survive is that it is decentralized. There is no central point which can be attacked and shut down.

Past attempts to create a digital currency all failed because they were not decentralized and/or because they couldn't solve double spending.

Have always thought bitcoin is the first digital currency. worthy of note is that bitcoin came with a superior technology, been run on the immutable blockchain technology, combining tech with economic value together with the decentralized peer-peer system. 

Nicely said. Good to see some lessons from the past history of cryptocurrency. Right now, when we talk about cryptocurrency the standard is of course Bitcoin and anything that is centralized like the newcomer Libra or even the Ripple we usually can say that those are not at par and should not be compared with Bitcoin with some even saying that those are not cryptocurrencies at all.

Bitcoin is not the first Digital currency created but I think the first cryptocurrency created which is decentralized. I think there's an article written by investopedia somewhere in the internet. It's an interesting read, try it.

My whole life is a lie ;D. Nevertheless, I'm glad because there is someone who stand out and become successful despite of histories of failures. The best we can do is to preserve what Satoshi started so let's continue using bitcoin and hope it will last forever :).

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Probably mjglqw's posted link is what you are talking about. I will definitel read this later.

they ARE cryptocurrencies by definition because the definition of a crypto-currency is a currency that is based on "crypto-graphy", in that definition there is no talk of decentralization. we add that later because the original (biggest) thing we all know is bitcoin and it is decentralized.
the coins such as Libra, XRP, BCH,... are bad because they are centralized and this technology is working best and is desirable as long as it is used decentralized.

I don't know the whole story about its failure but it's likely that most of the people from that time were not open with the idea of digicash.

Today, we're living mostly with internet and it's already a necessity that's part of our daily living. Technology is moving faster and just like what we've learned from our school days, it's making our work easier.

You can read more about the link given:

It's simply Bitcoin,y'all should stop the propaganda

At one stage someone was spamming the frontpage with a youtube video and links claiming it was developed in the 60's or some early time like that

it was fairly obvious i think to tell it was fake tho they made a decent attempt at it, these types of people have been very professional and successful

at stealing peoples ideas and intellectual property by making them think that something they have thought up was already around or developed

e-gold was never consider a type of crypto currency and hash cash was generally considered the first crypto-type currency in the early days of this forum,

I always thought that bitcoin is the first cryptocurrency, now I know thanks to the thread starter. Maybe the first one is so regulated and people before is not techie not like today that is why it did not survived.

Everyone have the similar thought on this. Even before bitcoin there were several other cryptocurrencies, which didn't survived for a long. Also those were on different platforms, bitcoin has got its unique platform that made it strong to grow from a valueless token to the level right now with more and more support from all level of people.

No idea about what the first crypto currency was, but bitcoin was the first decentralized digital asset. I would be glad to be educated more on the first crypto currency. Thanks...

In 90's digital currency failed due to lack of trust and also fear of fraud.
Bitcoin is the first cryptocurrency and litecoin is the first altcoin.

I did some pretty small research and this man is telling the truth. Digi cash exists first before the dominance of bitcoin. Here are some links for reference.

https://crushcrypto.com/digital-currency-history/

https://www.investopedia.com/terms/d/digital-money.asp

https://bookdown.org/Jack_Biggs/Cryptocurrency/what-is-digital-currency.html

What do yo mean? The first decentralized cryptocurrency is bitcoin, obviously.

not really . there are experts on the online paayment industry and the knew other online currencies before bitcoin  but for us that were only discovered this forum  ,we all believe that bitcoin is the first cryptocurrency  .

 i have read an article on the past about cryptos and i can see that there were too many digital currencies that existed before but alot of them didnt succeed  . it maybe due to thier centralized nature or maybe its because internet that time is not yet popular than compare to today where internet is everywhere  .

I agree to this as before is not the digital age and most people trust things that they can hold and see like gold and fiat. It is hard to gain trust before whenever a money is involved.

It’s good to know that only bitcoin did survived the market and stays longer until now,actually I have no idea about other first cryptocurrency because I came out late here though I can search over internet but for what sense?

Thanks for the link mate,will spend time later checking those first attempted

Just wondering, was it a coincidence that e-gold was shut down by the US Government in 2008, and Bitcoin whitepaper was released in October the same year? I mean, after the first successful digital currency(e-gold) was shut down by the government, there was a need of creating one that can't be shut down by anyone.

I never bother to make a research, I know bitcoin was not the first but I don't which coin was.
I just read from comments, people are calling bitcoin the first coin in the market, so they were wrong and they should head over this thread.

Guys, you still have a lot to read about the ideology behind Bitcoin. You should read about the history of cryptography, anarchy, open-source, cypherpunks... Even the NSA published a paper about cryptocurrency in 1996. These are the basics of Bitcoin' history.

It's funny to see some answers that say "yeah Bitcoin is not the first crypto/digital currency" but 20 or 30 posts earlier you were saying the opposite!  :D

Previous currencies weren't secure enough, for example, if Bitgold didn't success it's because it couldn't fix the double-spend attack. Later, Satoshi came with a POW system... Bitcoin

I heard of this but never really took it seriously. I mean, of course, I know Paypal, and I am also familiar with DigiCash being invented way earlier than Bitcoin, but I never considered the latter a cryptocurrency as such. The op's question is not just about the first electronic money, right? It's about the first crypto. Digicash offered anonymity and used cryptography, but I cannot find the information about the mechanism of determining the value and supply of it. I suppose it was nothing like Bitcoin in this sense, and neither was it available for mining, right? So I guess the answer to the question about the first cryptocurrency depends on which characteristics we find essential for a crypto. Like some disagree that Libra is a crypto, because it will be centralized and regulated.

If you are talking about DigiCash then it was an unrealized crypto. In addition, this payment system was centralized. By this, Bitcoin was the first ;)

A well known digital asset of the crypto world i.e. Bitcoin is a first and widely accepted cryptocurrency in the world. Bitcoin has truly happening and struggling history that makes it's crown of the crypto king super deserving.

Was asked and I loudly said Bitcoin was the first digital coin that had ever seem before all others cryptocurrency around the world of digital coins. But your findings makes and clear my thought's about my first move and now have realize that first digital coin was digicoin and not Bitcoin. The successful establishment of Bitcoin made waves for it in the world of cryptocurrency and its been known as the most acceptable digital coins so far.

Same here. I never heard of any other cryptocurrencies from the earlier years. Glad to know that there are some people who started this idea that "maybe" gave Satoshi the same idea in creating bitcoin. I'm just glad that bitcoin made it to the top. Although I was shocked that all this time I really thought bitcoin is the first cryptocurrency. Well now I know it's not.  :D

Bitcoin (BTC).

Who coined the word "cryptocurrency" ...
- https://bitcointalk.org/index.php?topic=5155348


...

I have always supported the motion that bitcoin is the first cryptocurrency.. ...Am glad to learn something new today. Indeed we learn everyday.

Bitcoin

What else?

Other cryptos are useless if we didn't can change it in real money or buy goods in realtime!

Bitcoin has the most acceptance worldwide.

The whole world knows its Bitcoin, the only surviving king in all odds. Bitcoin is the first cryptocurrency that has survived for so long with such a huge acceptance power.

I am sure that Bitcoin developers have come a very thorny path before they created a real pioneer in the cryptocurrency market.  It is possible that there were such cryptocurrencies that we don’t know about, because ini was the first development that today has no value.  But in general, the information is really interesting and useful for each user of cryptocurrency.  Thank you very much for this.

only bitcoin can survive, many currency just stable coin, i sure many investor will move to bitcoin for investment because only bitcoin can make price 5X in one year, Not only about price, bitcoin have perfect technology use for transactions P2P, Is Blockchain. Blokchain Used by many Project in this world, this reason why bitcoin have strong fundamental.

Yes, that is correct. The very heart of the matter is that Bitcoin does not have a heart, it cannot be killed! Had it not been decentralized, I would think that it has long been dead. Cryptography is an old art of codes and it has been used, at least in several attempts, to create digital currencies, which were all vulnerable sad to say. The good thing is that Satoshi was a lot more genius than the previous geniuses.

I know this but I don't consider them.

Bitcoin is different since this is made by companies. Despite the anonymity, I don't like these kinds of companies running digital currencies around the internet, is it even decentralized?

Can you give some analytical proof of bitcoin been the first cryptocurrency? I understand there is a differences between digital currency and Cryptocurrency. You should analyze in terms of cryptography and decentralized public ledger. 

BTC Is The Holy Grail, But Like a Few Others in here said, It Cant be used for everything, therefore you have alts, but a lot of the Alts try to Compete with Bitcoin which i think is not leading to something

Bitcoin is only as a coin on the first slide that experienced success. maybe first a lot of coins were released along with bitcoin, but only bitcoin is more famous and popular to date.

Although bitcoin is not the first ever cryptocurrency as I read that a lot of crypto had come in the past but all of them failed majorly because they are not decentralized enough.

I read that bitcoin wasn't the first cryptocurrency in this business. There were other alternative coins that were created and established to serve a particular purpose. However, they all failed and are not in existence anymore. So for now, I can say bitcoin has been the first to stand and survive for quite a long time now.

I don't know if there is other cryptocurrency that first than bitcoin. All I know is Bitcoine is the first cryptocurrency to capture the public imagination , which was launched in 2009 by an individual or group known under the pseudonym Satoshi. It was the digital currency that accepted and patronized by the people since it was created and it was also the digital currency that first known even in digital world that become most valuable digital  currency  until now.

First Block chain based  Decentralized Cryptocurrency  is ofcourse  BITCOINS .

We have considered numerous parameters :-
Blockchain based
Decentralized

Thus if it comes to first digital currency then I don't think it can be bitcoins , maybe some attempts were made and people were never successful.

Interesting, would like to know what made the others prior to bitcoin fail

Another knowledge acquired for me! Since I entered this community, I have always thought that Bitcoin was the first digital currency. But upon reading this thread, it turns out that I was wrong, bigtime! It would also be interesting to know why the first ones failed, though. My guess is that, the reason why Bitcoin succeeded was because it learned from the mistakes of those ahead of it.

All I can say now is, we have to continue the success of Bitcoin, because for all its benefits, I think it's what it deserves.

Never thought of this until you give this link,all I know is bitcoin is the first cryptocurrency but now having said my views are change but thanks for Satoshi for creating bitcoin and make it a long market value because o bing decentralized

Well that link mjglqw is I guess more reliable to believe since it’s all written and explaining from the author

We all know that Bitcoin isn't the first cryptocurrency or digital currency.
There were so many digital currency before Bitcoin but they all fail and for me Satoshi gets all the information that is needed in order to make this work or become successful from the previous digital currencies.
There is a lot of video and articles that you could use to enlighten yourself about this topic.

Although there were lots of cryptos before the bitcoin, the first decentralized cryptocurrency, bitcoin, was created in 2009 by pseudonymous developer Satoshi Nakamoto. It was the first successful cryptocurrency to use scrypt as its hash function instead of SHA-256.Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency. Since the release of bitcoin, over 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.

We can't say that it is the mother, maybe Blockchain technology is the mother since it is the reason why there are a lot of crypto currencies nowadays. Bitcoin is the most popular since it is the crypto itself, without its technology, it will be included in many other failed digital currencies made in the past. Another thing is that it did not survive, it dominated the market.

Majority of the users have a thinking that bitcoin is the base or the first cryptocurrency to get used. From the very first quote of the thread it is clear that there are many attempts on this, while bitcoin is the one that was developed perfectly and got used much more than the other forms of cryptocurrencies. Also bitcoin came out of the blockchain technology, if not this too could've got faded as other forms of cryptocurrencies that were used prior to bitcoin.

BTC (if that's what you are thinking), was actually not the first cryptocurrency to be created, but more the first cryptocurrency that had a good mindset behind it and attracted people to invest and hold it for the future. It also wasn't the first use of blockchain technology.

Read this article, it doesn't show exact times, but there is a really good description of all the cryptocurrencies that existed before BTC became a thing,  I'm pretty surprised that cryptocurrency was being worked on in the early 1990s, almost 20 years before BTC was made.

https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/

As for as I know, bitcoin is the first ever cryptocurrency that was ever created before the different altcoins like litrcoin, dogecoin and etc. Bitcoin was created under the pseudoname of Satoshi Nakamoto since no one ever know whether it is a male, a female, or a group of people to create this first digital money.

Bitcoin is not the  first  every  digital  money .  In 1983, the American cryptographer David Chaum came out with cryptographic electronic money called ecash but its  fails. But Bitcoin is  the  first ever  most  Successful  digital  money  no doubt.  https://en.wikipedia.org/wiki/Cryptocurrency

the investopedia website talks more about this, check it out.... https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/

I also want to ask why did the first digital money making Bitcoin never show itself? are they still around or gone? it's clear that Satoshi Nakamoto hasn't been proven to be there.

Just search it at Google before you ask question here because it pop up then the high quality who want to read by some people doesnt read that's why there are a lot of repetition happen.

maybe in this community many people already know that cryptocurrency was first released. The only thing is bitcoin made by satoshi nakomoto in 2009 and in my opinion there is no such thing as cryptocurrency before the arrival of bitcoin, and bitcoin also conducts secure transactions using peer to peer systems or other systems for transactions.

Yep. The concept of cryptocurrencies was actually discovered and invented in the late 1990s, and there were a couple of attempts at creating blockchain technology back then, but due to the limited tech, it never worked well.

Bitcoin was the first-ever crypto-currency to be decentralized and it was probably the reason why it was loved by so many early adopters.

All i know is bitcoin is the first cryptocurrency that was created and it is true that a lot of people have loved bitcoin because of it's value. But in my opinion, maybe the concept of cryptocurrency in the late 1990s was still bitcoin, then it started to become decentralized in 2008.

The first decentralized cryptocurrency became Bitcoin in 2009. Since then, many other cryptocurrencies have been created. They are often called altcoin, as a mix of bitcoin alternatives. In the future there wiil probabaly exist many more cryptocurrency.

Nope, it is not bitcoin. Bitcoin is just the first bitcoin to achieve triumph or success. There are other older cryptocurrency but they did not accomplished what bitcoin have accomplished. Maybe it is for the reason that it is bitcoin whose first introduced the decentralized idea whose other cryptocurrency do not.

The first cryptocurrency is bitcoin but it is not the first digital money or cash. The first digital money or cash emerged in 1990s but sad to say most of theme gone bankrupt. The only remaining digicash or digital cash is Paypal and is still alive until today.

Bitcoin is the first digital money that uses blockchain technology. Then we called those currencies who use the said technology as cryptocurrency.

Well based on my research bitcoin is really the first cryptocurrency and it was created on 2009, it is also the most successful cryptocurrency and there is no doubt thag bitcoin will continue to became more popular all over the world and the price of it can also rise above $20k again in the future.

One of the first attempts to create digital money was made in the Netherlands in the late 1980s. Gas station owners were fed up with being constantly robbed. This problem was so serious that it occurred to someone that it would be safer to store money on smart cards. Owners of freight companies could deposit money on these cards and give them to their drivers, and drivers paid gasoline using these cards.

Bitcoin is the first peer-to-peer digital currency. Bitcoin is the first truly decentralized digital currency.
Bitcoin is super successful today because of these two things: A peer-to-peer network, and decentralization. 

The first cryptocurrency is of course Bitcoin, which was first born in 2009 with blockchain technology.
Bitcoin is also the first decentralized cryptocurrency that made significant progress in digital technology.
I always remember the first time getting bitcoin for free, I got it from several faucets and sometimes from
give away. And I also remember the faucet claim could get 500-1000 satoshi, now only 8 satoshi once claim.

Bitcoin is the first cryptocurrency or digital money. 2009 bitcoin out in the public. When the first i saw bitcoin price was only $1 per bitcoin. That is so cheap price i regret because i didn't buy bitcoin in that year. Maybe if i buy on that time I'm a millionaire now.

When I am new to crypto industry the first thing I have become interested is bitcoin. Several people experience bitcoin at a cheap price and didn’t get the chance to buy more at that time because who would have thought that price today become expensive.

Bitcoin is the first cryptocurrency and it becomes part of my daily life. We feel regrets when we remember those days seeing btc price at the cheapest price, but moving forward it’s not too late to accumulate more btc at this point.

There is a difference between Cryptocurrency and Digital Money... If we think about it paypal was there before bitcoin, but that doesn't make it the first digital money because this one was the bank transfer. That was a digital move but on that point, they weren't moving cryptos.

And we can say the first Cryptocurrency was bitcoin.

You can buy now even the price is high compare to what the price what but has potential to increase its vallue for long term. if you are real supporters you will not be affraid about the price .

I think that you need to buy cryptocurrency and Bitcoin for $ 8,000. This is a very good price. Many recently bought at 10,000-13,000 dollars. The market is developing every day and you need to invest in Bitcoin.

I think that there is a company itself that is called digicash which I think is the first Digital currency as you said but cryptocurrency has never existed until bitcoin was established and introduced to the whole world, wherein, this is the only cryptocurrency that I have known to be the best and cannot be competed with.

A lot of coins has risen after bitcoin establishment and till now, not a single project that you find in this market has ever been able to take the place of bitcoin in the heart of people, so unlike the other first digital cash that failed, bitcoin as digital currency will never fail because it's fate has been sealed by its effectiveness, the strong attachment of it to people and the reward that also came along with it for those that believes in its usage.

I never found another coin before Bitcoin was born, when Bitcoin was first born in 2009 and many people underestimated its existence, because it was still worthless, very cheap. But now Bitcoin has grown big and I am sure there will be greater development so that people will accept it.

Bitcoin is not the first crypto currency, Someone tried to create the first crypto currency but it failed. This was done to protect a Gasoline Station from being robbed again. Because they are being attacked by thieves every night, they have to make a card where they can deposit money and pay for it so there is no fiat money in every transaction.

To my knowledge the second crypto currency is the blinded cash. It was made by an American named David Chaum.
 
And Decentralize Bitcoin has followed that which is really helping our lives today.

Because you never look for them and why would you mind to spend time finding other crypto before bitcoin when they are already dead and won’t even give you a penny not like bitcoin and other crypto now who’s generating you income from joining campaigns and trading as well

And you are right that there are lots of development will happen in future not only in bitcoin but the alternative currencies as well

while bitcoin was not the first cryptocurrency in the full meaning of the word
the definitions are different , but lets take this one: "a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank"
there have been attempts to combine cryptography and money in many ways and forms
but bitcoin was the first one to combine cryptography,money AND decentralization to be successful
in most cases , the pioneers failed to provide a good solution , be it Bit Gold or B-money (whatever was the first one)

 

Before the bitcoin, there were some digital currencies that failed along the run because they are centralized and subjects to many attacks. Bitcoin is only successful today because it is a peer-to-peer digital currency that is fully decentralized.

Many people suppose that Bitcoin is the first cryptocurrency in the market but actually it is not like that. The first cryptocurrency was a different one and the name of it was DigiCash.

When we talk about blockchain or cryptocurrency the first thing that we thinking about it is BITCOIN, without doubt BITCOIN is the first crypto we heated about it from Satoshi Nakamoto. I heard about it since 2009 but I don't give it any importance but in 2013 it became more famous and now everyone talk about it.

I heard that digi cash was the first one, but BITCOIN was the famous one since 2008-2009 due to it's increasing while others still the same.

Bitcoin.
That would be too simple answer ;), this is my first and last crypto. My time is worth more than dealing with sh*tcoins.
If something revolutionary will came up like Bitcoin did, i will get into that but that kind of invention is one time per 30-50 years.

Hope you all won't loose much on this copycats of bitcoin.

I think bitcoin is not the first cryptocurrency, maybe because it is the first cryptocurrency that becomes successful since it is decentralized and no one can shut it down and they do not even know who makes it or started it. Bitcoin is the most used cryptocurrency as of now since it is the center of transaction because you cannot buy some other tokens if you don't have one. In investing also, most of the projects requires bitcoin when you want to contribute to them. Bitcoin has also awesome platform that makes every user comfortable to buy it and use it as a payments. There are lots of projects that are promising and becomes successful but they are being dominated by the price and volume of bitcoin. Thats why bitcoin is considered first, maybe in standing yes.

I also believe that bitcoin is the first crypto and is always sought after.
strange thing if we have to question about the existence of bitcoin and it's clear that bitcoin will always be sought when compared to others.
agree that don't lose your time with anything else, because bitcoin is very profitable.

Oh, that's a very informative and interesting piece of information.
Truly saying, I assumed that there were some early attempts to create a cryptocurrency, but now I realize they were numerous than I might have thought. Still, interesting... by the way, thanks for the link :)

of course cryptocurrency first and foremost in the crypto market is bitcoin. bitcoin and blockchain technology have provided new breakthroughs in our financial system. the presence of bitcoin has provided many benefits for humans. many people can achieve financial freedom because of bitcoin. and bitcoin also provides employment for the unemployed.

It is clear that the first cryptocurrency discovered was Bitcoin, which was discovered by Satoshi Nakamoto in January 2009.
and over time Altcoin comes as a bitcoin replica where there are various types of coins or tokens on Atlcoin and it all depends on the blockchain system, because all transactions are recorded using the blockchain system.

Cryptocurrencies is an ambiguous term some claim that all kinds of digital money can be attributed as Cryptocurrency but as per this way almost every digital means of payment like paypal would also be considered a Cryptocurrency too. While some consider that money over blockchain can be attributed as Cryptocurrencies because if this is the definition then bitcoin will be the first Cryptocurrency.

I'm not sure what the first early models of cryptocurrencies looked like, perhaps E-gold? I know the first modern day cryptocurrency I invested in was with Bitcoin.  At first I had thought Bitcoin was the new E-Gold, so I didn't invest 10 years ago, boy was I wrong. :D
I've been kicking myself ever since!

I think it’s not exactly known which first cryptocurrency appeared, but it’s definitely not bitcoin, because before him in the 90s, blockchain technology developed and even then there were the first digital money.

Read this https://en.wikipedia.org/wiki/Digital_currency and you will get your answer. There are some myths that bitcoin is the first-ever digital currency but it is not true the scenario is different. Please look into the article for a detail understanding.

Is the article u said is this one? https://www.investopedia.com/terms/b/bitcoin.asp , but then again it may not be the first digital currency created but look where is bitcoin now? if it surpassed the old currency that are made from the past maybe it would even surpassed the one we have today.

I just want to share this article that I've read and I hope it can help somebody, and it's very interesting to read also, thumbs up to this article, the summary of it is a currency a digital currency game, the asset called PDE (Project Entorpia Dollars).

The game itself called is Entropia universe which is released on time of 2003, which players able to earn money, real money.


Article: https://steemit.com/gaming/@enjar/bitcoin-not-first-digital-currency-i-profited-from