Few terms outside of politics are more polarizing than cryptocurrency.
Cryptocurrency is one of the hottest tech topics right now, with billions of cryptocurrencies traded every week (Bitcoin and others) and a cultural isolation not seen in finance since the wolf days of Wall Street in the 1980s. Initially, cryptocurrencies were characterized by sudden accumulations of wealth, unexpected hacks, massive frauds, bold hopes and shattered dreams.
And the crazy thing is that no one knows which blackjack table will appear next. Welcome to the home of crypto cards.
January 2009
Technology was born
A mysterious man named Satoshi Nakamoto sends 10 bitcoins to cryptographer Hal Finney and into the open world.
Nakamoto, who previously wrote a white paper explaining the complex technology behind it, believes his computer assets are preferable to traditional banking, which was under severe pressure from the financial crisis a few months ago. Nakamoto argues that bitcoin works well abroad and avoids bureaucracy because of its unique code and ease of transfer. And the multiple digital "books" that the code (also known as the blockchain) creates ensure that the coins cannot be tampered with or hacked. Nakamoto will be mine - It was generated by computer code - about one million bitcoins - and disappeared from public view the following year. He has not been identified.
February 2011
The shopping roller coaster begins
Bitcoin has been used for dubious activities. An invisible "dark web" called the "Silk Road" was created. And for the next several years, the platform will only accept bitcoins for its black market products.
As you move and mine more, the price of the coin will begin to fluctuate, providing a tradable asset. Starting at 30 cents, Bitcoin reached $1 in early 2011, peaked at $30 in June, and dropped to $2 in the fall. The initial Bitcoin price was a rollercoaster ride. This will not be the last.
February 2011
Bitcoin has reached parity with the dollar for the first time
October 2011
The creation of Litecoin, one of the first alternatives to Bitcoin
November 2011
He launched Electrum, one of the first and most popular Bitcoin wallets
November 2012
The first half will take place measures to limit the supply of bitcoin
March 2013
Treasury Department issues guidelines saying "virtual currency" is not legal tender.
November 2013
Sign up for Ethereum
Total value of cryptocurrencies as of November 1, 2013
Russian Canadian youth, Vitalik Buterin started the revolution by writing a white paper titled Next Generation Smart Contracts and Decentralized Application Platforms. Building on Nakamoto's work, this paper lays the groundwork for creating a new kind of blockchain or digital ledger that would enable all kinds of new transactions like NFTs, and facilitate libertarian financial systems beyond the reach of governments.
Buterin and his partners will create the Ethereum blockchain, as well as a cryptocurrency token called ETH that will compete with Bitcoin, and will one day launch a market worth hundreds of billions of dollars.
Meanwhile, the Bitcoin trade was picking up and was given a signal by Bloomberg. Regulators noticed that the New York State Department of Financial Services issued a warning about criminal activity.
2013
Canaan Creative, a Chinese Bitcoin mining company founded and paved the way for massive mining.
November 2013
The US Senate held its first Bitcoin hearing
In December 2013
Bitcoin investor GameKyuubi started his centenary sentence in a colorful post saying, "I will give back" to their cryptocurrency.
February 2014
Mt.Gox hack raises questions
Total value of cryptocurrencies on February 1, 2014
After attracting many customers, the new cryptocurrency platform Mt.Gox has severely restricted users from withdrawing. "Get a clear technical understanding of the coin process." Untold millions suddenly couldn't access the card game with the strange name of Magic: The Gathering. The company filed for bankruptcy, one of the first events in cryptocurrencies. This will not be the last.
Bloomberg named Bitcoin one of the worst investments of 2014 after Forbes named it the best investment of 2013.
March 2014
The IRS says crypto should be taxed as property.
April 2014
Rep. Steve Stockman (R-Tex.) introduced virtual currency tax reform legislation, but it never passed.
May 2014
Kevin McCoy and Anil Dash scored the first NFT.
In December 2014
Bad guys come to the scene
Total value of cryptocurrencies as of December 1, 2014
The name Ruzh Ignatov may not mean much even to most cryptocurrency traders. But anyone who has experienced fraud has experienced the work of the so-called "crypto queen". Bulgarian-German kroner started selling Onecoin, which, he says, will one day replace the currency. Bitcoin, has created huge popularity around the world. There's only one problem: it's a complete scam. Up to $4 billion in consumer spending is missing.
Ignatova She was on the run in 2017 and placed on the FBI's 10 most wanted list. It hasn't been seen in years. But any crypto scam owes a spiritual debt to someone who first recognizes that dark technology, cults of personality, and manipulation can drive people out of savings.
April 2015
Former Obama White House technical advisor Brian Ford has been hired to lead MIT's digital currency initiative.
June 2015
Greece has been able to pay off its 1.6 billion euro debt to the International Monetary Fund.
September 2015
The Commodity Futures Trading Commission has declared that virtual currencies are commodities governed by commodity market rules.
June 2016
Brexit Referendum in the UK
January 2017
Donald Trump became the 45th president of the United States
July 2017
Binance was born
Total value of cryptocurrencies as of July 1, 2017
When Chinese-Canadian fintech leader Changpeng Zhao saw bitcoin and other cryptocurrencies starting to attract mainstream investors, Binance launched an online exchange that allowed people to buy and sell cryptocurrencies. Over time, the company would become the largest stock exchange in the world.
New coins are coming in almost every day now. About 800 by mid-2017. Innovations such as cables: Currencies whose value should move in parallel with the US dollar - It seems to facilitate business. Venture capital money is pouring in. Noise mining operations, which perform complex cryptocurrency calculations, are widespread around the world. Crypto-millionaires known as "whales" multiplied overnight. It doesn't seem like a sophisticated way to handle transactions, for a long time and more like an old-fashioned investment craze. And Binance is the main hub.
January 2017
Bitcoin started the year at a price of $900.
December 2017
Bitcoin is over $19,000.
2018
Darkness descends
Total price of cryptocurrencies from January 1, 2018 to January 1, 2019
In the year Following the cold of 2017, there was snow in 2018. Just before Christmas 2017, Bitcoin was worth nearly $20,000 and many other coins were on the rise. At the same time, it dropped to $3,000 a year later and many coins stayed with their investors.
The reasons for the risk are varied: international hacks, Asian laws, ad bans from Facebook and Google are some of them. It seems that cryptocurrencies will never be the same again. The House Financial Services Subcommittee is holding hearings on concerns related to cryptocurrencies. But they didn't feel the need to interfere on occasion.
March 2018
At a DPR subcommittee meeting, Rep. Brad Sherman (R-Calif.) said, "Cryptocryptia is catching on."
March 2018
The SEC aims to classify most digital currencies as securities, which are subject to strict rules.
December 2018
Bitcoin has dropped to $3000
May 2019
Sam Bankman-Fried and Gary Wang founded FTX
March 2020 - November 2021
Covid is fueling the cryptocurrency craze.
Total cryptocurrency price from March 1, 2020 to November 1, 2021
An epidemic begins, the world stops and people are suddenly stuck in their homes with nothing to do. But they have a cash flow backed by stimulus checks, and not all that revenue is spent on anything else. Cryptocurrencies are looking great again. Forget marketing goals – it's all about making money fast.
The FTX exchange, which was founded a year ago, is gradually gaining momentum. New crypto banks like Celsius are offering seemingly magical 25% returns to those who leave their money there. Bitcoin rose from $6,000 to $60,000. The conflict has also spread to foreign territories. The price of Dogecoin, based on what started out as a satirical comment about the cryptocurrency company, has skyrocketed and has since been dropped by Elon Musk. The "Pull the Carpet" scam is rampant where founders sell newly minted coins quickly and then disappear. The same goes for crypto-friendly ransomware attacks.
Congress is starting to pay more attention: the Senate is introducing cryptocurrency provisions in its infrastructure bill 2021. Several state regulators have also ordered some crypto businesses to stop operations in their states, raising concerns. Sam Bankman-Fried, founder of FTX, is a well-known and influential political contributor.
December 2020
SEC Sues Crypto Firm Ripple in Major Legal Trouble
March 2021
Mike Winkelman, aka "Beeple," sold NFT artwork for $69 million.
May 2021
The US oil delivery system, known as Colonial Pipeline, is being attacked by ransomware using encryption.
May 2021
The US Treasury Department requires that cryptocurrency transfers of $10,000 or more be reported to the IRS.
June 2021
El Salvador has passed a law that legalizes bitcoin auctions
September 2021
The People's Bank of China has banned all Cryptocurrency transactions
October 2021
The Department of Justice has announced the creation of the National Anti-Cryptocurrency Task Force (NCET).
November 2021
For the first time, Bitcoin exceeds 60,000 dollars
February 2022
It's time to end the Super Bowl.
Total value of cryptocurrencies on February 1, 2022
A handful of Super Bowl commercials are sweeping the airwaves, and crypto culture time is here. A few months ago, Pew Research reported that 16 percent of Americans trade or trade in cryptocurrency, and the industry is set to continue to grow. Bitcoins are currently over $40,000. Cryptocurrency companies are in a digital challenge: enough to pay Matt Damon, LeBron James, Larry David and others to promote their products. Two NBA stadiums have been converted into cryptocurrency exchanges.
A growing group of critics, mostly from engineering and science but also a handful of lawmakers, are sounding the alarm. But the technology's popularity is growing and legacy firms like Fidelity are encouraging cryptocurrency investments. Three years after the summer of crypto ended, the summer of crypto is here.
February 2022
Russia invades Ukraine, quickly begins to collect money in cryptocurrency
February 2022
New York City couple Heather Morgan and Ilia Lichtenstein have been arrested on suspicion of swindling billions in cryptocurrencies.
March 2022
The blockchain associated with the AXE Infinity video game has been hacked, resulting in the theft of over $600 million worth of cryptocurrency.
May 2022
Terra Stablecoin proves otherwise
Total cryptocurrency price May 1, 2022
In a few weeks, starting in May, cryptocurrencies will crash. It all started with Terra, a great stablecoin and associated token, which has been separated. The whales and the institutions sold out in a rush, destroying the fortunes of hundreds of thousands of investors.
The erosion of something so hot is having a negative impact on the entire industry. Crypto banks Celsius and BlockFi, hedge funds Three Arrows Capital and brokerage Voyager are facing cash shortages and other issues, with investors not getting their money in most cases. Celsius, Three Arrows and Voyager filed for bankruptcy. For example, FTX and Sam Bankman-Fried have stepped in to lend to blockchain, but the long-term solvency of many of the firms is in question. Exchange platform Coinbase has laid off 18 percent of its employees. Bitcoin hovered around 20 for most of the summer, less than half the price compared to the active days of March.
But the good news is that in September, Ethereum can change its platform to a faster, cheaper and greener operation through a transition known as "merger". And the state of cryptocurrencies seems to be picking up soon.
June 2022
Bitcoin has fallen below $19,000, its lowest price since 2020.
September 2022
Ethereum is transitioning to a new trading system in hopes of reducing the environmental impact of cryptocurrencies. Bitcoin dropped below $19,000 again, erasing all gains from the summer.