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The Blockchain Rollercoaster

A Chronology

  • Notes
  • Nov 18 2019
  • Nick Koppenhagen
    is an artist and independent researcher from Berlin. He is the creator and host of the interview-podcast and a founding member of the DAK.

31 October 2008 – The Bitcoin white paper authored by a cryptographer with the pseudonym Satoshi Nakamoto is published on "The Cryptography Mailing List".


3 January 2009 – The first bitcoin block is mined by Satoshi Nakamoto. Embedded in the coinbase of this block is the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."


22 May 2010 – Two pizzas are bought for 10,000 BTC, making it the first exchange of bitcoin for a consumer product. Nowadays celebrated as the "Bitcoin Pizza Day".


July 2010 – The bitcoin exchange and price quoting service Mt. Gox (originally meaning "Magic: The Gathering Online eXchange") launches.


February 2011 – Silk Road, the first modern Darknet market for selling drugs is launched. All payments are made in Bitcoin.


June 2011 – WikiLeaks begins accepting Bitcoin for donations.


October 2013 – The FBI shuts down the Silk Road website and arrests the site's pseudonymous founder "Dread Pirate Roberts".


December 2013 – Vitalik Buterin publishes the Ethereum white paper.


February to March 2014 – The biggest bitcoin exchange Mt. Gox halts all withdrawals and shuts down subsequently, kicking of the first prolonged cryptocurrency bear market. The Bitcoin price falls from ~$1,242 (Nov 2013) to ~$200 (Mar 2015).


September 2014 – The second generation blockchain network Ethereum raises ~$18 million in Bitcoin via an initial coin offering making it the highest funded crowdfunding campaign in history.


30 July 2015 – Ethereum launches with 72 million preallocated coins.


28 May 2016 – The DAO becomes the new largest crowdfunding campaign in history, raising the equivalent of ~$120 million in Ether (the name of Ethereum’s coin).


June 2016 – The DAO smart contract is drained for ~$50 million in Ether by an attacker. In the aftermath the network splits into Ethereum (ETH) and Ethereum Classic (ETC).


1 August 2017 – Bitcoin splits into two derivative digital currencies, Bitcoin (BTC) and Bitcoin Cash (BCH) over a debate about the megabyte size of blocks.


17 December 2017 – The Bitcoin price peaks at ~$20.000.


13 January 2018 – The Ethereum price peaks at ~$1.400.


3 May 2018 – Vitalik Buterin does the badger dance at Edcon 2018 in Toronto.


August 2018 – Bitcoins yearly energy consumption becomes larger than the yearly energy consumption of Switzerland.


2017-2019 – Third generation blockchain networks are launching, notably: Decred, Tezos, Blockstack, Polkadot and Chia.


February 2019 – Ethereum has lost ~92% of its value since January 2018 and Bitcoin ~82% since December 2017.



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