CryptoCoinsInfoClub.com

Bitcoin Transactions 2010

If Youd Bought $1,000 Of Bitcoin In 2010, Youd Be Worth $35m

If Youd Bought $1,000 Of Bitcoin In 2010, Youd Be Worth $35m

Sign up or login to join the discussions! If youd bought $1,000 of Bitcoin in 2010, youd be worth $35M Price of Bitcoin has doubled in 2017, and other currencies have jumped even more. The price of Bitcoin, the most popular digital crytpo-currency, has skyrocketed this year. According to Coindesk, bitcoins arecurrently trading for $2,483 per coin. The price is an all-time record, and theremarkable valuationblows earlier price spikes out of the water. Bitcoins have more than doubled since the beginning of 2017, when theyhovered around $1,000 per coin. Bitcoinbroke the $2,000-per-coin barrier on Saturday. The run-up hasled to increased interest in lesser-known digitalcurrencies, like Etherium and Ripple. Ethereum, which is backed by large companies working on blockchain projects, has jumped in value from $8.24 at the beginning of the year to $203.30, according to CNBC . Ethereum prices began climbing in March, around the time when Bitcoin investors started "getting jittery" about whether Bitcoin software would be able to handle the increased level of transactions. Looking at the market capitalization for all cryptocurrencies, Techcrunch notes that Bitcoin now makes up just 47 percent of the total market value. Guessing what's behind the price increase is inevitably speculative. CBS news quotes market watchers who think digital currency value is being pushed up byeconomic instability in places like Russia, Nigeria, andSouth Korea. At Fortune, Jeff John Roberts argues thatthe mainstreaming of Bitcoin means that "investors see it as a new asset class" and are backing hedge funds to acquire it.Regulators in Japan and China have taken steps recently to formalize trading inBitcoins, which has increased investment from Asia. Pricerun-ups like this lead to "if only" type of thin Continue reading >>

History Of Bitcoin - Wikipedia

History Of Bitcoin - Wikipedia

Number of bitcoin transactions per month (logarithmic scale) Bitcoin is a cryptocurrency , a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities . [1] The presumed pseudonymous Satoshi Nakamoto integrated many existing ideas from the cypherpunk community when creating bitcoin. Prior to the release of bitcoin there were a number of digital cash technologies starting with the issuer based ecash protocols of David Chaum [2] and Stefan Brands . Adam Back developed hashcash , a proof-of-work scheme for spam control. The first proposals for distributed digital scarcity based cryptocurrencies were Wei Dai 's b-money [3] and Nick Szabo 's bit gold . [4] [5] Hal Finney developed reusable proof of work (RPOW) using hashcash as its proof of work algorithm. [6] In the bit gold proposal which proposed a collectible market based mechanism for inflation control, Nick Szabo also investigated some additional enabling aspects including a Byzantine fault-tolerant asset registry to store and transfer the chained proof-of-work solutions. [5] There has been much speculation as to the identity of Satoshi Nakamoto with suspects including Wei Dai , Hal Finney and accompanying denials. [7] [8] The possibility that Satoshi Nakamoto was a computer collective in the European financial sector has also been discussed. [9] On 18 August 2008, the domain name bitcoin.org was registered. [10] Later that year on October 31st, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System [11] was posted to a cryptography mailing list. [10] This paper detailed methods of using a peer-to-peer network to generate what was described as "a system for electronic tra Continue reading >>

How Long Should My Bitcoin Transaction Take?

How Long Should My Bitcoin Transaction Take?

How Long Should My Bitcoin Transaction Take? The digital currency bitcoin allows users around the world to make low-cost, peer-to-peer payments with a faster processing time than international bank transfers. But how fast are bitcoin transactions? In this article, we will discuss how bitcoin transactions are confirmed and how long bitcoin transactions normally take. When you make a payment using bitcoin, your transaction needs to be confirmed by the bitcoin network, so the payment can be completed. First, your transaction goes into the unconfirmed transactions pool, a list of all the pending bitcoin transactions. From there, it is picked up by participants in the peer-to-peer bitcoin network who then use their computing power to validate your transaction. For a bitcoin transaction to be fully validated and processed, it requires six confirmations. These transaction confirmations are then condensed into blocks, or chunks of code, which are added to the blockchain. (Think of it like a ledger in a checkbook.) Each new block is made up of recently processed bitcoin transactions. This is where the term blockchain comes from, as it is effectively a chain of blocks filled with validated and confirmed bitcoin transactions. All past and current transactions can be viewed publicly on the blockchain explorer on blockchain.info . Average Bitcoin Transaction Times and Fees The bitcoin network has grown substantially over the last two years. Bitcoins value (measured by its market capitalization) has increased from $3.5 billion to over $45 billion, while its average daily transaction volume has increased from $12 million to over $2 billion from June 2015 to the time of this writing. This steep growth in daily bitcoin transactions has led to scalability issues for the bitcoin blockcha Continue reading >>

The Rise And Fall Of Bitcoin

The Rise And Fall Of Bitcoin

"The more we divulge things we know about them, the more theyll shift and change." bit.ly/2z3j0X1 Author: Benjamin Wallace. Benjamin Wallace Magazine In November 1, 2008, a man named Satoshi Nakamoto posted a research paper to an obscure cryptography listserv describing his design for a new digital currency that he called bitcoin. None of the lists veterans had heard of him, and what little information could be gleaned was murky and contradictory. In an online profile, he said he lived in Japan. His email address was from a free German service. Google searches for his name turned up no relevant information; it was clearly a pseudonym. But while Nakamoto himself may have been a puzzle, his creation cracked a problem that had stumped cryptographers for decades. The idea of digital moneyconvenient and untraceable, liberated from the oversight of governments and bankshad been a hot topic since the birth of the Internet. Cypherpunks, the 1990s movement of libertarian cryptographers, dedicated themselves to the project. Yet every effort to create virtual cash had foundered. Ecash, an anonymous system launched in the early 1990s by cryptographer David Chaum, failed in part because it depended on the existing infrastructures of government and credit card companies. Other proposals followedbit gold, RPOW, b-moneybut none got off the ground. One of the core challenges of designing a digital currency involves something called the double-spending problem. If a digital dollar is just information, free from the corporeal strictures of paper and metal, whats to prevent people from copying and pasting it as easily as a chunk of text, spending it as many times as they want? The conventional answer involved using a central clearinghouse to keep a real-time ledger of all transactionsensu Continue reading >>

The First-ever Bitcoin Transaction Was Used To Buy Two Pizzas Today, Its Worth $150 Million

The First-ever Bitcoin Transaction Was Used To Buy Two Pizzas Today, Its Worth $150 Million

Bitcoin is massively volatile and has been on epic run this year. The cryptocurrency started the year at roughly US$1000 (AU$1300). As I write this, it is worth a staggering USD$11,534 (AU$15,000) a coin. By the time you read this it will probably be worth more. When it comes to Bitcoin, there are plenty of tales of woe and success out there. Gizmodos Campbell Simpson recently wrote an article lamenting the fact that he had thrown out AU$7.6 million in Bitcoin (now its more like AU$16 million, buddy). If you think thats bad, lets all spare a thought for a developer named Laszlo Hanyecz who is credited with making the first Bitcoin transaction ever. In May 2010, when Bitcoin was worth a measly US$0.08, Hanyecz posted on the Bitcoin Forum that hed use 10,000 bitcoins to pay for a couple of pizzas. In what has become easily the most expensive food order ever, Hanyecz said that he liked having leftover pizza to nibble on, adding: You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what Im aiming for is getting food delivered in exchange for bitcoins where I dont have to order or prepare it myself, kind of like ordering a breakfast platter at a hotel or something, they just bring you something to eat and youre happy! Within a few days, Hanyecz was contacted by Jeremy Sturdivant, an 18-year-old who called a pizza store in Florida and arranged to have two pizzas sent to Hanyecz for the princely sum of US$25. I just want to report that I successfully traded 10,000 bitcoins for pizza, Hanyecz wrote on May 22, a day now known by the cryptocurrency community as Bitcoin Pizza Day. The #Bitcoin pizza is worth $20,509,958 today. (-0.15% from yesterday) Today is Bitcoin pizza day! Bitcoin Pizza (@bitcoin_pizza) May 22, 2017 On 2017s Continue reading >>

"most Bitcoin Transactions Will Occur Between Banks, To Settle Net Transfers." - Hal Finney Dec. 2010. : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

Famous Bitcoin Transactions & The Stories Behind Them

Famous Bitcoin Transactions & The Stories Behind Them

Share your email with us to receive updates on Blockchain and the industry. Bitcoin has now been used by countless individuals to transact forover 7 years.At the time of this writing there have been over 140,000,000 transactions sent and stored forever in the blockchain. January 2009 was whenthevery first blockwas added to the blockchain, which is affectionately dubbedthe Genesis Block, andthe rest as they say, is now history. Thehistory of bitcoin includes some amazing stories, some so interesting they are worth retelling to keep the story alive. This post serves to preserve a few memorable pieces of thathistory. January 12, 2009: It all had to start somewhere It happened at block height 170 , the very first bitcoin transaction ever. This transaction was between the late Hal Finney and Satoshi Nakamoto. Finney was a computer scientist , inventor of reusable-proof-of-work (RPOW), a bitcoin pioneer, and also the first recipient of bitcoin via this transaction. Laszlos two pizzas he paid 10,000 BTC for on May 22, 2010 via TechCrunch May 22, 2010: Ill pay 10,000 bitcoins for a couple of pizzas In retrospect, this was quite a monumental transaction, and it also resulted in the most expensive pizzas ever. A user of the BitcoinTalk forum wanted to order two pizzas and was asking if anyone could order it to be delivered to him in exchange for 10,000 bitcoins. The value at the time of the transaction was around $25 USD. Today, that amount in bitcoin is worth over $6.3 million. Every year since that transaction, the bitcoin community remembers this event by celebrating Bitcoin Pizza Day on May 22nd. When bitcoin exchange Mt.Gox was struggling to stay afloat prior to their infamous collapse, then CEO Mark Karpeles wanted to prove that Mt.Gox was financially sound. To do so, he p Continue reading >>

2010 - Bitcoin Wiki

2010 - Bitcoin Wiki

2010 was the year after the year of Bitcoin 's launch. 06 Bitcoin Market , the first exchange , is launched. 14 Martti Malmi starts the Bitcoin Wiki . 22 Laszlo Hanyecz , a GPU miner, makes the first documented purchase of a good in exchange for bitcoins ; two pizzas for 10,000 BTC. 11 News of the latest release propagates to Slashdot, causing a large influx of bitcoin users. 12 Bitcoin value begins rising rapidly, going from $0.008 to $0.08 over the next five days. 18 ArtForz becomes one of the earliest GPU miners. 15 184 billion bitcoins are created artificially in block 74638. 53 blocks into a chain fork, the updated chain overtakes the erroneous one and the fraudulent bitcoins cease to exist. 14 Block 79764 is the first to be solved with split allocation of the block reward. [1] 18 Jeff Garzik pays puddinpop 10,000 BTC (~$625) to make their Windows-based CUDA client open source. 29 kermit discovers a glitch that prevents transactions referencing small outputs from being confirmed. 01 The first public OpenCL miner is released. 07 The exchange rate begins rising again, from $0.06. 16 The earliest documented escrowed transaction occurs between nanotube and Diablo-D3 , with Theymos as the escrow. 28 The earliest documented short sale occurs between nanotube and kiba . 06 The market capitalization reaches $1,000,000 as the exchange rate passes $0.50. Continue reading >>

The 9 Biggest Screwups In Bitcoin History

The 9 Biggest Screwups In Bitcoin History

The 9 Biggest Screwups in Bitcoin History Do you know where your bitcoins are right now? Hopefully theyre still in your wallet where you left them, but the history of bitcoin is littered with human error, poorly implemented software and heists that would make even the most hardened of Wild West outlaws tip their hat in respect. Bitcoin is a man-made, open-source technology not a gift handed down from the heavens.Just to drive that point home, here arethe nine biggestscrewups in bitcoin history. 9. That time someone hacked 92 billion BTCinto existence On 8th August 2010 bitcoin developer Jeff Garzik wrote what could be mildly described as the biggest understatement since Apollo 13 told Houston: "We've had a problem here." The value out in this block is quite strange, he wrote on bitcointalk.org , referring to a block that had somehow contained 92 billion BTC, which is precisely 91,979,000,000 more bitcoin than is ever supposed to exist. CVE-2010-5139 (CVE meaning common vulnerability and exposures) was frighteningly simple and exploited to the point of farce by an unknown attacker.In technical language, the bug is known as a number overflow error. So instead of the system counting up 98, 99, 100, 101, for example, it broke at 99 and went to zero (or -100) instead of 100.In laymans terms, someone found a way to flood the code and create a ridiculously large amount of bitcoin in the process. The fix was the bitcoin equivalent of dying in a video game and restarting from the last save point. The community simply hit 'undo', jumping back to the point in the blockchain before the hack occurred and starting anew from there; all of the transactions made after the bug was exploited but before the fix was implemented were effectively cancelled. How serious was it? Bitcoins lead Continue reading >>

China's Central Bank Warned Thursday That Bitcoin Carries Substantial Risks And Issued New Rules That Prohibit Financial Institutions From Dealing In The Digital Currency.

China's Central Bank Warned Thursday That Bitcoin Carries Substantial Risks And Issued New Rules That Prohibit Financial Institutions From Dealing In The Digital Currency.

Despite its recent popularity, banks in China have largely avoided the currency. But Baidu, the leading search engine in China, accepts the currency for certain services. Internet retailer Alibaba has also experimented with bitcoin. This is not the first time that Beijing has moved to place restrictions on an alternative currency. The central bank also took a dim view of the QQ coin, a popular virtual currency created by tech pioneer Tencent. The government restricted its use to virtual products in 2009. Bitcoin has surged this year on hopes the experiment in digital money will eventually become a legitimate global currency. One bitcoin was worth about $13 in January. The currency, which trades non-stop on the Mt. Gox exchange and other online markets, has been extremely volatile and swings of $100 or more in just a few minutes are common. In the United States, lawmakers have been examining potential regulations for Bitcoin, which is the currency of choice on certain online markets for drugs and other illicit goods. Bitcoin has received a measure of support from officials at the Federal Reserve, including chairman Ben Bernanke, who said the currency "may hold long-term promise" as part of the international payment system. Related: Ron Paul says Bitcoin could 'destroy the dollar' Some supporters say government regulation would be a positive for Bitcoin, since it could lead to wider adoption of the currency. But others argue that Bitcoin is decentralized by design and the government should leave well alone. The program behind Bitcoin was created anonymously and introduced on the internet in 2010. Unlike traditional paper currencies, bitcoins are not managed by a central authority and exist only in cyberspace. Bitcoins are "mined" by powerful computers that complete compl Continue reading >>

2010's 10,000 Bitcoin Pizza Guy Repeats Feat With Historic Lightning Network Transaction

2010's 10,000 Bitcoin Pizza Guy Repeats Feat With Historic Lightning Network Transaction

2010s 10,000 Bitcoins Pizza Guy Repeats Feat With Historic Lightning Network Transaction Join our community of 10 000 traders on Hacked.com for just $39 per month. Laszlo Hanyecz, best known for making the first documented transaction in which Bitcoin was used to purchase a physical item, recently christened the Lightning Network (LN) with the help of a sympathetic pizza delivery driver and a jerry-rigged atomic swap. Hanyecz ensconced his place in Bitcoin lore on May 22, 2010, when he paid another early adopter 10,000 BTC to order him two pizzas. This transaction believed to be the first in which a seller accepted a Bitcoin payment for a physical item spawned both Bitcoin Pizza Day and the Bitcoin Pizza Index , which calculates the present value of coins used in that historic transaction. On Feb. 25, Hanyecz revealed on the Lightning Network development mailing list that he had made a similar purchase using the nascent LN mainnet (though not the first to use it to pay for a physical item). In short, I paid bitcoin using the lightning network and he arranged for pizza to be delivered to me. In this trade my friend is just a middle man that is taking the risk on accepting lightning payments, but it demonstrates the basic premise of how this works for everyday transactions. It could just as well be the pizza shop accepting the payment directly with their own lightning node. This time, though, the transaction set him back just 649000 satoshis (0.00649 BTC), which works out to about $63 at the present exchange rate. To make the purchase as trustless as possible, the two parties opened a payment channel, which Hanyecz funded to prove that he had the BTC. When the delivery driver arrived at his house, Hanyecz showed him a portion of the payment hash preimage, which matched w Continue reading >>

History - What Is The Largest Transaction By Value To Date For Bitcoin Currency? - Bitcoin Stack Exchange

History - What Is The Largest Transaction By Value To Date For Bitcoin Currency? - Bitcoin Stack Exchange

What is the largest transaction by value to date for bitcoin currency? Due to how Bitcoins operate (in order to spend Bitcoins you need to make an operation on all of your Bitcoins), this question is closely related to this - bitcoin.stackexchange.com/questions/1524/ ThePiachu Mar 26 '12 at 20:49 "in order to spend Bitcoins you need to make an operation on all of your Bitcoins" isn't right. You don't even have to touch all the coins in a single address you control. I think you must have a misunderstanding somewhere. You can't partially use a single transaction output; you have to use the whole output as an input to your new transaction - maybe that's what you're thinking of. But it would be possible for the biggest transaction to be bigger than the biggest balance at any address. And vice versa. i.e. they're really distinct questions. Chris Moore Mar 27 '12 at 0:43 That was MtGox trying to consolidate 10 50k coins into a single large 500k coin. The extra 50k was added by some code in the official client that is a little too careful to avoid sub-cent change. Chris Moore Mar 26 '12 at 21:47 50k thrown in by over-careful code for good measure. :-) Thilo Mar 27 '12 at 3:11 Does that meant that extra 50k BTCs were generated out of thin air? Kozuch Dec 2 '13 at 15:38 @Kozuch No, it was just that there were 11 blocks of 50k coins, and the Bitcoin client only needed to move 10 of them, but it moved 11. Nick ODell Nov 7 '15 at 22:14 As of block 173016, on Mar 26 2012, these are the record breaking (and equalling) transactions: Jan 12 2009 - block 170, transaction f4184fc5 spends 50.00000000Jan 14 2009 - block 496, transaction a3b0e9e7 spends 61.00000000Jan 15 2009 - block 586, transaction 4d6edbeb spends 250.00000000Jan 19 2009 - block 1055, transaction 8897ea9c spends 500.0000 Continue reading >>

Pizza For Bitcoins?

Pizza For Bitcoins?

I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy! I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire. If you're interested please let me know and we can work out a deal. This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds (I usually have plenty). If anyone is interested please let me know. The exchange is favorable for anyone who does it because the 2 pizzas are only about 25 dollars total, maybe 30 if you give the guy a nice tip. If you get me the upgraded extra large ones or something, I can throw in some more bitcoins, just let me know and we'll work something out. My 1 year old daughter really enjoys pizza too! She just smears it all over her face if you give her a whole slice, but she does eventually manage to get most of it in her mouth (minus a few loose toppings of course). Quote from: laszlo on June 12, 2010, 08:14:44 PM This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds (I usually have plenty). If anyone is interested please let me know. The exchange is favorable for anyone who does it becaus Continue reading >>

Quantitative Analysis Of The Full Bitcoin Transaction Graph

Quantitative Analysis Of The Full Bitcoin Transaction Graph

Quantitative Analysis of the Full Bitcoin Department of Computer Science and Applied Mathematics, The Weizmann Institute of Science, Israel Abstract. The Bitcoin scheme is a rare example of a large scale global payment system in which all the transactions are publicly accessible (but in an anonymous way). We downloaded the full history of this scheme, and analyzed many statistical properties of its associated transaction graph. In this paper we answer for the rst time a variety of interest- ing questions about the typical behavior of users, how they acquire and how they spend their bitcoins, the balance of bitcoins they keep in their accounts, and how they move bitcoins between their various accounts in order to better protect their privacy. In addition, we isolated all the large transactions in the system, and discovered that almost all of them are closely related to a single large transaction that took place in November 2010, even though the associated users apparently tried to hide this fact with many strange looking long chains and fork-merge structures in the Keywords: bitcoin, digital coins, electronic cash, payment systems, trans- Bitcoins are digital coins which are not issued by any government, bank, or organization, and rely on cryptographic protocols and a distributed network of users to mint, store, and transfer. The scheme was rst suggested in 2008 by Satoshi Nakamoto [1], and became fully operational in January 2009. It had attracted a large number of users and a lot of media attention [2] [3] [4], but so far it was dicult to get precise answers to simple questions such as: How many dierent users are there in the system? How many bitcoins are typically kept in each account, and how does this balance vary over time? Are most bitcoins kept by a few large us Continue reading >>

Someone In 2010 Bought 2 Pizzas With 10,000 Bitcoins Which Today Would Be Worth $100 Million

Someone In 2010 Bought 2 Pizzas With 10,000 Bitcoins Which Today Would Be Worth $100 Million

Someone in 2010 bought 2 pizzas with 10,000 bitcoins which today would be worth $100 million Bitcoin has just hit all-time highs of $10,000. Back in 2010, a developer bought two pizzas for 10,000 bitcoins. Today, those bitcoins are worth a whopping $100 million. On May 22, 2010, a developer bought two pizzas using 10,000 units of a then-little-known digital currency called bitcoin. Today, the price of a single bitcoin has hit $10,000 making 10,000 of them worth a staggering $100 million (75 million). Bitcoin is going nuclear. Just a year ago, it was trading at less than $750, after deflating from what was then seen as the giddy highs of about $1,100 (847) in late 2013. It has since embarked on an epic bull run. "10k is a seminal moment for bitcoin and cryptocurrencies in general," CryptoCompare CEO Charles Hayter said in an emailed statement, "highlighting the supernormal returns and speculative like nature of the industry as well as the potential and growing adoption." The digital currency has come a long way since 2010, when the purchase of the two Papa John's pizzas by Laszlo Hanyecz from another bitcoin enthusiast marked what is believed to be the first "real-world" bitcoin transaction. He posted on the Bitcoin Talk forum on May 22, 2010, writing (emphasis ours): "I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're ha Continue reading >>

More in bitcoin