Who Invented Bitcoin

Countries accepting Bitcoins as their Currency

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Satoshi Nakamoto  (probably a Japanese) is believed to be the inventor of Bitcoin.  It was first launched in the year 2009.

Bitcoin.org domain was registered in 2008

On 31st Oct 2008, Satoshi Nakamoto e-mailed a copy of 9 pages Titled "Bitcoin: A Peer to Peer Electronic Cash System" to a group of cryptographers defining a new form of “electronic cash” i.e. Bitcoin.

On 9th Jan'2009, Satoshi Nakamoto launched the bitcoin network. 

The first bitcoin transaction happened between Nakamoto and Mr. Finny (one of the early adopters and supporters of bitcoin)

Mr. Finny downloaded the bitcoin software the day it was released and received 10 bitcoins in return from Nakamoto

For almost 2 years Nakamoto continued to work over the bitcoin software with other developers and made all the modifications himself to the source code.

After which he transferred the control of the source code repository and a network alert key to  Mr. Andresen (who was declared as the lead developer by Nakamoto) and then he disappeared forever.

Mr. Gavin Andresen  founded Bitcoin Foundation in 2012 to support and develop the bitcoin currency, and later in 2014 he left the developer role to work on strategy development of its technology.

Countries accepting Bitcoin as legal tender

1. El Salvador became the first country to accept Bitcoin as legal tender money in Sep'21.

It bought 400 bitcoins initially and will even buy more in future

It is hopeful that bitcoin acceptance will lead to economic development amid this Covid pandemic

The Country has even installed 200 Bitcoin Teller Machine to widen its usage and every bitcoin adopter will get $30 from the government.

2. TONGA- A Polynesian country located in the southwestern Pacific Ocean recently received hundreds of Bitcoins in donations as a relief fund against devastating volcanic eruption

According to a former parliamentary member of the country the bill to accept Bitcoin as legal tender will be passed by the end of 2022. 

Presently the country relies on the remittances from Australia, New Zealand and US

The usages of the cryptocurrencies are increasing rapidly across many nations and some have even adopted it as their legal tender money.

The increased usages will foster the growth in this industry and will create many profitable opportunities.

Read about latest updates and unknown facts about crypto industry explained in easy by swiping up.

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