The great history of digital currency. Now that is quite a topic to discuss. In this weekly post we will try to explain to you exactly how it all began, and what led to the creation of bitcoin and to the point where we are now, 2016, when Bitcoin is more popular than ever and still traded for about $300 per 1 Bitcoin.
So let’s start from the beginning, 1996, when the internet was still just in its diapers, there were already people thinking about this wonderful idea, digital currency. A currency name E-Gold was created by Douglas Jackson. It grew very big until it started being used by criminals and hackers for extortion and online attacks, then the currency died out. A bit similar to what’s happening now with bitcoin with all the DDoS attacks. We hope that these people will be prosecuted and that this stuff won’t happen again, since stuff like that do harm bitcoin’s reputation and can lead to its demise, same as with E-Gold.
After E-Gold in 1996, there were several other attempts at creating a digital currency, examples for such currencies are: Webmoney, Liberty Reserve and Perfect Money. All started well but were destine to fail, not one lasting for long.
But then, 2009, Bitcoin was born, a digital currency that will conquer the world, with so many users and different purchases, it is still going strong 7 years later. The currency that we all know and love.
So this pretty much sums it up, we hoped you enjoyed this small history lesson. And we would also like to remind you to check out bitcoin mining hardware section to get the best and latest hardware available for mining.
Have a great week Coinishers!