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History and Origin of Bitcoin

The history of bitcoin is an interesting one indeed, but what most people do not realize is that its conception was not really planned nor led by any kind of mastermind. In fact, it was the brainchild of a hidden Internet. He wanted to create a virtual currency, which led him to the conclusion that a new system of currency would be needed in order to combat these problems. Thus, he created a new form of money that was free from any government control and operated with no taxes, interest, or any form of intervention. This is the history of bitcoins. Now, you can easily purchase this coin everywhere in the world. In Uzbekistan, you will find it at Today, nearly years after its formation, the system is still in operation. It is actually a peer-to-peer system that operates on the Internet. Rather than being controlled by a central authority, all transactions are made between individuals within the network itself. Through this, it is possible for anyone to create their own account with a maximum of two hundred fifty participants. However, the birth of bitcoins is rather uncertain. There has been a lot of speculations as to how this system of currency got its start. The only problem is that this theory does not really explain how bitcoins came into being in the first place. However, there is one thing that is certain about the system - it was created by some secretive group; rather, it was conceived by someone with a need to secure his own transaction details against fraud and theft. The system was first used as a sort of experiment by a person called Satoshi Nakamoto. Some time passed, after which he tried to launch a test network. This did not go well because there were a lot of bugs that were resistant to his efforts. However, he kept working on the project and eventually launched it as a peer-to-peer currency using the Internet. The most significant event about the system came when it was featured in an article in Wired. It was then popularized, and people began to understand more about it. There are two theories that attribute to its rise in popularity. The first one states that it was really the news of the technological breakthrough that attracted the attention of the public. Regardless of what the reason is, there is no denying the fact that it has become a very popular form of payment across the world.