As Bitcoin Turns Ten, Here's a Brief Throwback

Ten years ago on Oct. 31, pioneer cryptocurrency Bitcoin was introduced to the world after pseudonymous creator Satoshi Nakamoto sent its whitepaper to a private mailing list of cryptographers.

Bitcoin reached parity with the Euro and the British Pound, and with the increase in price, became a subject of discussion in mainstream media.

The hype saw bitcoin prices reach $31 in mid-2011, after which it suffered its first "Bubble" burst in June 2011 as prices tumbled down to a modest $10. The year also saw the increasing relevance of Mt.Gox, the world's largest Bitcoin exchange at the time, and the emergence of the Czech Republic-based mining pool, Slushpool.

With an increase in use-cases, dark web marketplace Silk Road rose to infamy as drug cartels, ammunition providers, and mid-sized retail entrepreneurs participated in a market free of jurisdiction and control; powered by the robustness and anonymity of bitcoin.

Over the years, Bitcoin experienced increased price volatility and tremendous media attention as banks, venture capitals, and retail investors turned to the asset class to make a quick buck.

Competitor BitInstant revealed it processed approximately 30 percent of the world's Bitcoin transactions, facilitating 30,000 transfers in April 2013 alone.

In February 2015, the number of merchants accepting bitcoin exceeded 100,000.

Ride-hailing giant Uber switched to Bitcoin in Argentina after the government blocked credit card companies from dealing with the company.

In March 2017, the number of GitHub projects related to bitcoin passed 10,000.

Starting September 2017, Bitcoin experienced a massive increase in prices as speculations around the cryptocurrency gained momentum.