Bitcoin, the most well known cryptocurrency, recently became ten years old. Let’s look at the hard-fought journey of Bitcoin and its state today. Here are some things to know about bitcoins.

Prior to the release of bitcoin there were a number of digital cash technologies which never really stood solid. But On 3 January 2009, ten years ago, the bitcoin network came into existence with an anonymous developer called Satoshi Nakamoto mining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins, thereby starting a new peer-to-peer electronic cash system.

Bitcoin’s First Real World Transaction

After creating Bitcoin, Nakamoto reportedly sent 10 BTC to the developer Hal Finney and several other developers on the same day. However this is largely not recognized, as many believe that the first real-world transaction using Bitcoin occurred when Laszlo Hanyecz traded 10,000 BTC for two large Papa John’s Pizza worth about $30 (₦11,000) at the time. The value of 10,000 BTC would translate to $38 million (₦13 billion) presently.

As time of writing, a bitcoin is valued at $3848 (₦1.4 Million)

How Many Bitcoins Are There?

According to Investopedia, there are only 21 million Bitcoins that can be mined in total.

What Happens When All 21 Million Bitcoins Have Been Mined?

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