Tuesday, 19 December 2017

HISTORY &GROWTH OF BITCOIN

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BITCOINS LEGACY..

2011
 one of Foundation started accepting the Bitcoins in the month of JANUARY named “Electronic Frontier Foundation”(EFF) by some of the reasons they stopped accepting the Bitcoins in the same year of JUNE .The decision of foundation is reversed and started accepting the Bitcoins in the year of 2013

 “ELECTRONIC FRONTIER FOUNDATION”  is a digital rights group that allows the individuals  to use,create,access and publish the digital media .The term digital rights is meant to be protection and realisation of existing rights.

As in the same year some of the organisations came across and started accepting the Bitcoins.A website named “WeUseCoins” posted a video about Bitcoin that goes viral over the world over 6+million views. and now it crosses across 7.9 million views.On the same year of December , Doulgas Feigelson of BItbills filed patent  for the application of “creating and using Digital Currency” with the United states  patent and Trade mark office and An action was taken on prior art.

2012

                        In this year the Bitcoin is the major subject that all are talking about and it trailed on the Television Programming Channel named “COLUMBIA BROADCASTING SYSTEM” (CBS) 
It is an American English Channel that broadcasts the legal drama called “THE GOOD WIFE” in that legal drama of the third season episode.The term and the topic about the Bitcoin arises. some of the cast and crew of the Drama played a role in the Courtroom scene that testifies that Bitcoin doesn’t consider as the digital currency .That’s there’s no Central bank to regulate it and function completely through the Computer based Networking system.And then in the same year of the september month.The“BITCOINFOUNDATION“started in Washington ..

                The foundation started to protect and promote and the use of Bitcoin. and they explained about what is cryptocurrency and Digital money and what is the use of it and benefits of the digital money.The founders of bitcoinare GavinAndersen (Softwaredeveloper) ,JobNations ,PatrickMuruck ,CharileShrem, Peter Vessenes.

2013


                            In the month of February CoinBase started selling the Bitcoins.As they sold 1$million worth of Bitcoins in a single month.The CoinBase is the payment processor company that is appointed by a merchant to handle all the transactions of the DEBIT AND CREDIT cards . and they are of two types front end and back end Front-end proccessors are have connections and settlement services to the merchant banks and Back-end accept the settlements from the Front-end The CoinBase company transactions formed across all over the world in 190 countries and the company grewed to millions of users in form of Block-Chain.and the employees and the share holders have the option to receive the salaries in the form of Bitcoin-currency

In the month of “APRIL” suddenly the Bitcoin exchange rate drops because of delaying and due to insufficient capacity from 266$ to $76. As the Bitcoin gained greater Recognition among some of the services like OkCupid and Foodler they began accepting the payment through Bitcoin.In may some of the accounts are seized due to they are not registered as the money transmitter account.

In the month of “MAY” A startup Company named BITINSTANT and they processed approximately 30percent of money going in and out of BitCoin and in the month  of april it made 30,000 transactions. As of january the website is not available for no reasons it displaying a blank page and blog also not available.

In the month of “JUNE” The US government  the 11.02 Bitcoins as a siezed asset and it is the first time that the government seized the Bitcoins

In the month of “JULY” In KENYA started a project that linking the Bitcoin with M-PESA it is an mobile based money transfer that can easily transfer the BitCoin through them and During the same month Foreign exchange administration and the department in thailand presenents a Lack of BitCoins and would therefore be illegal . and they are effectively banned in the country.

In the month “AUGUST” United states District Court for the Eastern District of Texas appeals to Fifth Circuit and its is established in February 1857 and ruled the Bitcoins are a Currency or a form of money and were subjected to court’s jurisdiction. and Germany’s finance ministry said Bitcoins under the term as a financial instrument and thought not as a e-money.

In the month of “OCTOBER”  The FBI seized 26000 Bitcoins from the Online Black Market  and the first darknet market named “SILK ROAD” and a platform of selling illegal drugs the FBI seized the BIitCoins and the arrest of alleged owner of    “ROSS WILLIAM” and then two companies launched the world’s first BitCoin ATM. and they are allowing the customers and employees allowing to sell or purchase the BitCoins and then Chienese Internet named “BAIDU” web services company started website security services to pay with the BitCoins.

In the month of “NOVEMBER” on of the university in CYRUS named “UNIVERSITY OF NICOSIA” started accepting  the BitCoins for the Tuition Fee and the CFO of university called them as “Gold of Tomorrow” and then worlds second highest Bitcoin exchange company started trading exchange by the trade volume and the BITSTAMP to become the largest BitCoin.

In the month of “DECEMBER”  an American internet retailer head quartered in MIDVALE,UTAH near SALK LAKE CITY. announced the plans to accept the Bitcoin and the A bank in china prohibited Bitcoins from the chinese institutions and then the Bitcoin value is dropped and web technologies Baidu also stops accepting the Bitcoins for some of the services. As they reported that buying the real-world goods through the virtual currency has been illegal.


2014
            

                                       This year  is full of testings where bitcoins are accepted in casinos and few restaraunts started ..In Feb the one of the biggest exchange withdrawed from bitcoin due to its technical issues  where bankruptcy happened leading to a great loss of 744000 bitcoins are stolen..

     In june the network of bitcoin has been exceeded and even made sponsorship with st.Petersburg Bowl for two years and this mainly concentrates on using bitcoins..later the most reputed organisation Dell also started using bitcoins..
  
         Finally in december microsoft showed intrest in bitcoin and later a movie titled "Raise of bitcoin "was released featuring the programmer and drug dealer..


2015


          At starting of the year the value of the coin base is raised over 75 million USD by an expected smash to previous record of the company . In this year the bitcoin also proposed the offline transactions which resulted into a hack of 19,000 bitcoins from their hot wallet , that directed into lose of customer funds..overcoming this issue bitcoin made a entry in trading on 9th january by making people believe in regards of safety..


         Finally during march it suddenly raised 116 million USD in venture funding which is the biggest money ever in digital currency history ..where this continued till august where nearly 15000 merchants accepted bitcoin payments..

        One of the most renknown Barclays announced that they would become the first resource of accepting bitcoins , the main motto of them is for their charitable donations using the crypto currency and these both patnered during may with payment model start up of circle internet financial.. later by the end of the year bitcoin symbol was proposed..

2016

                       This is the year where the world has come to know about bitcoin.. In the starting of the year the rate of bitcoin increased where japan realized that bicoin is making something that is similar to real currency.. More over Steam started accepted bitcoins..

 when coming to other organisations BitFinex was hacked and nearly 1,00,000 Bitcoins were stolen.. Many apps are using bitcoins for their transcations even in railways..

 Google also drive special articles for bitcoin and their spreading goes rapidly ..Ledger also published its first article regarding bitcoin.. during this year uber shifted to due to credit cards blockage..




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