In the second episode of “Crypto” we talk about Bitcoin
The world’s first cryptocurrency appeared more than 10 years ago. The idea of the creator Satoshi Nakamoto was published on the Internet after the onset of the global financial crisis in 2007.
The idea of Bitcoin is in itself an alternative to the current monetary financial system. And if at the beginning of the last decade Bitcoin was accepted by many as a bubble or a pyramid, today digital currency is accepted as a method of payment by tens of thousands of businesses around the world, and recently one of the oldest investment banks Goldman Sachs began offering bitcoin and other digital assets of its customers.
One of the biggest mysteries in the Cryptoworld is related to Bitcoin and in particular to Satoshi Nakamoto, the identity of which or which is not yet clear.
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The question of the creator of bitcoin excites even the biggest skeptics of cryptocurrencies. It is a known fact that someone using the name Satoshi Nakamoto launched Bitcoin software in early 2009 and communicated with users online by email, but never live or by phone. In 2011, the technology began to attract more attention, emails stopped, and since then there is no trace of Nakamoto.
Four years ago, Elon Musk publicly ruled out the possibility that he was Nakamoto, after publications claiming the opposite. In 2014, a man from California named Dorian Nakamoto was identified as the creator of bitcoin, but later personally denied it. Computer engineer Nick Szabo, who created BitGold in the 1990s, which is conceptually close to Bitcoin, is also said to be Nakamoto, but Szabo also denies the claim.
The first bitcoin transaction was sent from Satoshi Nakamoto’s address to Hal Fini. He is one of the first participants in the network and an outstanding specialist in the field of technology. Unfortunately, Phineas died in 2014, but before that he denied being behind the invention of bitcoin.
According to various sources, Satoshi Nakamoto has more than 1 million bitcoins in his portfolio, which would make him one of the richest people in the world at the moment. Nakamoto’s Bitcoins, however, are not moving, and many say the mystery of the creator of Bitcoin will remain unsolved.
The date May 22, 2010 is emblematic of the Bitcoin community. It is celebrated every year by crypto enthusiasts with the name “Bitcoin Pizza Day”. Eleven years ago, the first transaction was made in which a physical commodity was purchased with Bitcoins, in this case 2 pizzas. Therefore, according to many at this point in history, it is proven that cryptocurrency actually has value because it serves as a bargaining chip in a trade transaction.
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Laszlo Hanyets offers 10,000 bitcoins for 2 pizzas In a forum the American Laszlo Hanyets asks for a favor
“I’ll pay 10,000 bitcoins for a few pizzas … two big ones, for example, so I have one left for tomorrow.”
An Englishman accepted Hanjec’s offer and bought him 2 pizzas for 10,000 bitcoins. To date, 10,000 bitcoins cost about $ 400 million.
Gold is mined, as is virtual currency, with the difference that gold requires picks, people and machines, and bitcoin and other cryptocurrencies need computers.
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Bitcoin is programmed with limited supply. The total number of coins to be mined is 21 million, which will happen in 2140. Currently, more than 80 percent of bitcoins are in stock.
Satoshi for bitcoin is the same as the penny for the Bulgarian lev. (SATOSHI UNIT2) Satoshi is the smallest indivisible particle of bitcoin. 100 million Satoshita equals one bitcoin.
In the last 10 years, a number of countries have been trying to impose regulations and restrictions on bitcoin. The latest such example is China’s ban on trading cryptocurrencies two weeks ago. In contrast, the canton of Zug in Switzerland now accepts taxes with Bitcoin and Ethereum. According to current data, more than 10% of the United States population already owns cryptocurrencies, the big question is what the future holds. That is why I met one of the successful young Bulgarian entrepreneurs, who we can safely say is a crypto veteran – Velizar Velichkov.
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A person who looks into the future from a very early age and participates in the development of technology businesses that achieve success. Velizar is 34 years old and in my eyes he is one of the examples of people who have actively participated in the digital revolution in Bulgaria in the last 15 years. His first contact with cryptocurrencies and bitcoin was 8 years ago, and his concept for the future development of this relatively new technology and the way money works is extremely interesting.
You can see the interview with Velizar Velichkov in the video.
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