bitcoin backgrounder
DESCRIPTION
Bitcoin Backgrounder. Overview of Bitcoin history.TRANSCRIPT
• 100 Virtual Currencies with Total Market Cap of $9.4 Billion
• 11 Virtual Currencies with value over $10 billion
• 5 Virtual Currencies with Market Cap in excess of $50M.
• 4 Virtual Currencies with volume over $1 million
• 2 Virtual Currencies with Market Cap of $1B+
• 1 Amazon currency
–
2009
Bitcoin launched
2010-2011
First real Bitcoin transaction
10,000 BTC for pizza (today worth $8 million)
First Bitcoin currency exchange established
Time Magazine article sparks interest
WikiLeaks begins accepting donations in Bitcoins
Silk Road begins accepting Bitcoin
2012
Bitcoin Foundation founded
First Bitcoin bank opens
2013
BitPay, a startup that helps merchants accept Bitcoins becomes one of first Bitcoin startups to raise significant investment capital
Market cap reaches $1 Billion
Forbes columnist Kashmir Hill spends week living on Bitcoin
Silk Road Shut Down
California dealer sells Tesla for 91.4 Bitcoins
Canadian lists house on market for Bitcoins
First Bitcoin ATMs
MT GOX – Bitcoin Exchange Launched 2010. By 2013 – handled
70% of all Bitcoin transactions May 2013 – Department of
Homeland Security seizes funds from Mt. Gox’s US account for operating as an unregistered money transmitter. Obtained license the following month.
Jan 2014 – Announced almost 750,000 of its customers' bitcoins, and around 100,000 of its own bitcoins, totaling around 7% of all bitcoins, and worth around $473 were missing.
March 2014 - Mt. Gox filed for bankruptcy
• a "turning point" for the virtual currency - Mt. Gox CEO Mark Karpeles
• an "MF Global“ moment - Marc Andressen
• the beginning of the end of Bitcoin