Since 2009, Bitcoin has revolutionized the way people view and use digital currency, becoming increasingly popular and valuable year after year. Throughout its eight-year span, the cryptocurrency has been embraced and innovated upon by a select few of risk-takers and cryptocurrency enthusiasts who sought to gain an early foothold in the market and ultimately benefit from being at the forefront of an entirely new financial system. Called pioneers, some of these movers and shakemakers of Bitcoin are now known worldwide for their revolutionary efforts. Learn more about their participation as we meet the pioneers of Bitcoin: 2009-2017.
1. Introduction to Pioneers of Bitcoin
Bitcoin: Where It All Began
It is easy to take the success of Bitcoin for granted today. However, it was thanks to the pioneers of Bitcoin that this digital asset has reached the level of recognition it holds today. This article will explore the efforts and motivations of the Bitcoin pioneers to create a revolution that would shape the future of digital assets.
The first Bitcoin pioneer is none other than the mysterious Satoshi Nakamoto. The identity of Nakamoto is still unknown and shrouded in mystery, though the person or persons created the Bitcoin whitepaper and developed the blockchain. Nakamoto’s first few transactions of Bitcoin and mining efforts in January 2009 set this unprecedented digital asset into motion and created the world’s first decentralized cryptocurrency.
Other notable pioneers in the early days of Bitcoin include:
- Hal Finney: Finney was one of the first people to receive Bitcoin from Satoshi Nakamoto and the first to return the favour back to Satoshi.
- Gavin Andresen: After Satoshi Nakamoto, Andresen was the leading genius behind Bitcoin. He worked on Bitcoin’s core protocol and testified at the US Senate on digital currency in 2013.
- Laszlo Hanyecz: The programmer is well known for facilitating the first real-world Bitcoin transaction in 2010. Hanyecz purchased two pizzas for 10,000 Bitcoin, a transaction that would be worth millions of dollars today.
- Winklevoss Twins: The twins are known for the costly lawsuit with Mark Zuckerberg over Facebook. They are also some of the first investors in Bitcoin, famously investing $11 million dollars into the asset in 2013, when Bitcoin was at $120 per coin.
- Roger Ver: The second to invest in Bitcoin, also famously known as ‘Bitcoin Jesus’, invested in multiple Bitcoin-related companies and developed Bitcoin’s version of crowdfunding.
Without these pioneers recognizing the potential of Bitcoin, the cryptocurrency market would not be anywhere near as successful as it is today. The progress of Bitcoin shows that the possibilities of digital assets are endless and continues to fuel the passion of these pioneers to create a revolution.
2. Bitcoin Developer Satoshi Nakamoto’s Legacy
- Anonymous Creator Changed Cryptocurrency Field Forever
The identity of Bitcoin developer, Satoshi Nakamoto, remains a mystery. While the name is an alias, the world has never known their true identity. Despite this, they have left behind a legacy in the form of Bitcoin and its extensive network, which paved the way for other cryptocurrencies to emerge.
Their influence as the founder of Bitcoin has been monumental. Nakamoto published the Bitcoin white paper in 2008 and started the much needed conversation about decentralized digital currencies. This created a wave of trust and excitement among investors, as well as developers, who jumped to capitalize on the revolutionary features of Bitcoin. The success of Bitcoin further made the rest of the world more receptive to cryptocurrency, and soon the space saw an influx of new projects and players.
Nakamoto’s true identity remains a mystery, but their influence in the field is impossible to ignore. The result of their efforts is a space that has spawned thousands of applications and an entire industry. Although they stepped back from the spotlight after the launch of Bitcoin, Satoshi Nakamoto’s legacy lives on through its hugely successful and impactful technology.
3. Bitcoin’s Growth from 2009-2017
Since its creation in 2009, Bitcoin has gained a lot of traction within the traditional financial industry. The idea of a decentralized and digital currency is particularly appealing for investors and users who are looking for low transaction fees and fast payments. Over the course of eight years, Bitcoin has grown remarkably.
In August 2017, Bitcoin reached an all time high of around $5,000 per coin, after starting the year at around $1000. The jump in prices is being attributed to increased mainstream adoption, as well as to large investments from financial institutions such as CME Group, NASDAQ and Goldman Sachs. During 2017, there’s also been an upsurge in the number of online businesses accepting Bitcoin as a valid payment method.
- 2009 – Bitcoin Created
- 2017 – Bitcoin Reaches All-Time High of $5,000
4. Emerging Star Innovators in the Bitcoin Universe
These days, a wave of fresh, young and innovative companies are making waves in the Bitcoin universe. Here, we take a look at four prominent innovators who are shaping the future of the cryptocurrency space.
- Purse.io – an unconventional shopping- experience platform inspiring people to use their Bitcoin. They allow customers to shop from places like Amazon and get up to 15-20% off their orders. Their innovative system allows shoppers to be connected with people who have access to special offers, rewards, coupons and so much more.
- Abra – a mobile app that allows people to digitally transfer money to and from their friends, family, and others using Bitcoin and other cryptocurrencies. This provides users a quicker and more secure method to send, receive and store money than the traditional methods.
- Bitwala – a Munich-based bank that allows users to store and use Bitcoin while also having access to a full suite of financial services. This combination of services enables users to process and manage payments, loans, and investments in a single platform, making it a revolutionary concept in the world of banking.
- Antshares – a blockchain-based asset registry and trading platform for digital assets. This platform allows users to register, store, transfer, and trade assets on the blockchain. With a dedicated development team and leading investors, Antshares is set to revolutionize the digital asset exchange space.
These Bitcoin innovators are influencing the future of the digital currency space and paving the way for bigger and bolder projects. With more use cases, more financing, and more regulation, the likes of Purse.io, Abra, Bitwala, and Antshares are certain to remain some of the most influential players in the cryptocurrency industry.
As the bitcoin industry continues to develop, we can look back at the pioneers of bitcoin from 2009 to 2017 as innovators and leaders who have shaped the digital currency revolution. Beyond the technology, their work can be seen as the start of an economic revolution, and one that shows no sign of stopping.