<s>
Bitcoin	B-Protocol
is	O
a	O
cryptocurrency	O
,	O
a	O
digital	O
asset	O
that	O
uses	O
cryptography	O
to	O
control	O
its	O
creation	O
and	O
management	O
rather	O
than	O
relying	O
on	O
central	O
authorities	O
.	O
</s>
<s>
Originally	O
designed	O
as	O
a	O
medium	O
of	O
exchange	O
,	O
Bitcoin	B-Protocol
is	O
now	O
primarily	O
regarded	O
as	O
a	O
store	O
of	O
value	O
.	O
</s>
<s>
The	O
history	B-General_Concept
of	I-General_Concept
bitcoin	I-General_Concept
started	O
with	O
its	O
invention	O
and	O
implementation	O
by	O
Satoshi	O
Nakamoto	O
,	O
who	O
integrated	O
many	O
existing	O
ideas	O
from	O
the	O
cryptography	O
community	O
.	O
</s>
<s>
Over	O
the	O
course	O
of	O
bitcoin	B-Protocol
's	O
history	O
,	O
it	O
has	O
undergone	O
rapid	O
growth	O
to	O
become	O
a	O
significant	O
store	O
of	O
value	O
both	O
on	O
-	O
and	O
offline	O
.	O
</s>
<s>
From	O
the	O
mid-2010s	O
,	O
some	O
businesses	O
began	O
accepting	O
bitcoin	B-Protocol
in	O
addition	O
to	O
traditional	O
currencies	O
.	O
</s>
<s>
Prior	O
to	O
the	O
release	O
of	O
bitcoin	B-Protocol
,	O
there	O
were	O
a	O
number	O
of	O
digital	O
cash	O
technologies	O
,	O
starting	O
with	O
the	O
issuer-based	O
ecash	O
protocols	O
of	O
David	O
Chaum	O
and	O
Stefan	O
Brands	O
.	O
</s>
<s>
In	O
the	O
bit	O
gold	O
proposal	O
which	O
proposed	O
a	O
collectible	O
market-based	O
mechanism	O
for	O
inflation	O
control	O
,	O
Nick	O
Szabo	O
also	O
investigated	O
some	O
additional	O
aspects	O
including	O
a	O
Byzantine	B-Operating_System
fault-tolerant	I-Operating_System
agreement	O
protocol	O
based	O
on	O
quorum	O
addresses	O
to	O
store	O
and	O
transfer	O
the	O
chained	O
proof-of-work	O
solutions	O
,	O
which	O
was	O
vulnerable	O
to	O
Sybil	O
attacks	O
,	O
though	O
.	O
</s>
<s>
On	O
the	O
18th	O
of	O
August	O
2008	O
,	O
the	O
domain	O
name	O
bitcoin.org	O
was	O
registered	O
.	O
</s>
<s>
Later	O
that	O
year	O
,	O
on	O
31	O
October	O
,	O
a	O
link	O
to	O
a	O
paper	O
authored	O
by	O
Satoshi	O
Nakamoto	O
titled	O
Bitcoin	B-Protocol
:	O
A	O
Peer-to-Peer	O
Electronic	O
Cash	O
System	O
was	O
posted	O
to	O
a	O
cryptography	O
mailing	O
list	O
.	O
</s>
<s>
On	O
3	O
January	O
2009	O
,	O
the	O
bitcoin	B-Protocol
network	O
came	O
into	O
existence	O
with	O
Satoshi	O
Nakamoto	O
mining	O
the	O
genesis	O
block	O
of	O
bitcoin	B-Protocol
(	O
block	O
number	O
0	O
)	O
,	O
which	O
had	O
a	O
reward	O
of	O
50	O
bitcoins	B-Protocol
.	O
</s>
<s>
The	O
first	O
open	B-License
source	I-License
bitcoin	B-Protocol
client	O
was	O
released	O
on	O
9	O
January	O
2009	O
,	O
hosted	O
at	O
SourceForge	B-Application
.	O
</s>
<s>
One	O
of	O
the	O
first	O
supporters	O
,	O
adopters	O
,	O
contributors	O
to	O
bitcoin	B-Protocol
and	O
receiver	O
of	O
the	O
first	O
bitcoin	B-Protocol
transaction	O
was	O
programmer	O
Hal	O
Finney	O
.	O
</s>
<s>
Finney	O
downloaded	O
the	O
bitcoin	B-Protocol
software	O
the	O
day	O
it	O
was	O
released	O
,	O
and	O
received	O
10	O
bitcoins	B-Protocol
from	O
Nakamoto	O
in	O
the	O
world	O
's	O
first	O
bitcoin	B-Protocol
transaction	O
on	O
12	O
January	O
2009	O
(	O
bloc	O
170	O
)	O
.	O
</s>
<s>
Other	O
early	O
supporters	O
were	O
Wei	O
Dai	O
,	O
creator	O
of	O
bitcoin	B-Protocol
predecessor	O
b-money	O
,	O
and	O
Nick	O
Szabo	O
,	O
creator	O
of	O
bitcoin	B-Protocol
predecessor	O
bit	O
gold	O
.	O
</s>
<s>
In	O
the	O
early	O
days	O
,	O
Nakamoto	O
is	O
estimated	O
to	O
have	O
mined	O
1	O
million	O
bitcoins	B-Protocol
.	O
</s>
<s>
Before	O
disappearing	O
from	O
any	O
involvement	O
in	O
bitcoin	B-Protocol
,	O
Nakamoto	O
in	O
a	O
sense	O
handed	O
over	O
the	O
reins	O
to	O
developer	O
Gavin	O
Andresen	O
,	O
who	O
then	O
became	O
the	O
bitcoin	B-Protocol
lead	O
developer	O
at	O
the	O
Bitcoin	B-Protocol
Foundation	O
,	O
the	O
'	O
anarchic	O
 '	O
bitcoin	B-Protocol
community	O
's	O
closest	O
thing	O
to	O
an	O
official	O
public	O
face	O
.	O
</s>
<s>
"	O
Satoshi	O
Nakamoto	O
"	O
is	O
presumed	O
to	O
be	O
a	O
pseudonym	O
for	O
the	O
person	O
or	O
people	O
who	O
designed	O
the	O
original	O
bitcoin	B-Protocol
protocol	O
in	O
2008	O
and	O
launched	O
the	O
network	O
in	O
2009	O
.	O
</s>
<s>
Nakamoto	O
was	O
responsible	O
for	O
creating	O
the	O
majority	O
of	O
the	O
official	O
bitcoin	B-Protocol
software	O
and	O
was	O
active	O
in	O
making	O
modifications	O
and	O
posting	O
technical	O
information	O
on	O
the	O
bitcoin	B-Protocol
forum	O
.	O
</s>
<s>
Fast	O
Company'''s	O
investigation	O
brought	O
up	O
circumstantial	O
evidence	O
linking	O
an	O
encryption	O
patent	O
application	O
filed	O
by	O
Neal	O
King	O
,	O
Vladimir	O
Oksman	O
and	O
Charles	O
Bry	O
on	O
15	O
August	O
2008	O
,	O
and	O
the	O
bitcoin.org	O
domain	O
name	O
which	O
was	O
registered	O
72	O
hours	O
later	O
.	O
</s>
<s>
The	O
patent	O
application	O
(	O
#20100042841	O
)	O
contained	O
networking	O
and	O
encryption	O
technologies	O
similar	O
to	O
bitcoin	B-Protocol
's	O
,	O
and	O
textual	O
analysis	O
revealed	O
that	O
the	O
phrase	O
"	O
...	O
computationally	O
impractical	O
to	O
reverse	O
"	O
appeared	O
in	O
both	O
the	O
patent	O
application	O
and	O
bitcoin	B-Protocol
's	O
whitepaper	O
.	O
</s>
<s>
The	O
two	O
researchers	O
based	O
their	O
suspicion	O
on	O
an	O
analysis	O
of	O
the	O
network	O
of	O
bitcoin	B-Protocol
transactions	O
.	O
</s>
<s>
Nakamoto	O
's	O
involvement	O
with	O
bitcoin	B-Protocol
does	O
not	O
appear	O
to	O
extend	O
past	O
mid-2010	O
.	O
</s>
<s>
In	O
April	O
2011	O
,	O
Nakamoto	O
communicated	O
with	O
a	O
bitcoin	B-Protocol
contributor	O
,	O
saying	O
that	O
he	O
had	O
"	O
moved	O
on	O
to	O
other	O
things	O
"	O
.	O
</s>
<s>
Stefan	O
Thomas	O
,	O
a	O
Swiss	O
coder	O
and	O
active	O
community	O
member	O
,	O
graphed	O
the	O
time	O
stamps	O
for	O
each	O
of	O
Nakamoto	O
's	O
500-plus	O
bitcoin	B-Protocol
forum	O
posts	O
;	O
the	O
resulting	O
chart	O
showed	O
a	O
steep	O
decline	O
to	O
almost	O
no	O
posts	O
between	O
the	O
hours	O
of	O
5	O
a.m.	O
and	O
11	O
a.m.	O
Greenwich	O
Mean	O
Time	O
.	O
</s>
<s>
Other	O
clues	O
suggested	O
that	O
Nakamoto	O
was	O
British	O
:	O
A	O
newspaper	O
headline	O
he	O
had	O
encoded	O
in	O
the	O
genesis	O
block	O
came	O
from	O
the	O
UK-published	O
newspaper	O
The	O
Times	O
,	O
and	O
both	O
his	O
forum	O
posts	O
and	O
his	O
comments	O
in	O
the	O
bitcoin	B-Protocol
source	O
code	O
used	O
British	O
English	O
spellings	O
,	O
such	O
as	O
"	O
optimise	O
"	O
and	O
"	O
colour	O
"	O
.	O
</s>
<s>
An	O
Internet	O
search	O
by	O
an	O
anonymous	O
blogger	O
of	O
texts	O
similar	O
in	O
writing	O
to	O
the	O
bitcoin	B-Protocol
whitepaper	O
suggests	O
Nick	O
Szabo	O
's	O
"	O
bit	O
gold	O
"	O
articles	O
as	O
having	O
a	O
similar	O
author	O
.	O
</s>
<s>
Nick	O
denied	O
being	O
Satoshi	O
,	O
and	O
stated	O
his	O
official	O
opinion	O
on	O
Satoshi	O
and	O
bitcoin	B-Protocol
in	O
a	O
May	O
2011	O
article	O
.	O
</s>
<s>
In	O
a	O
March	O
2014	O
article	O
in	O
Newsweek	O
,	O
journalist	O
Leah	O
McGrath	O
Goodman	O
doxed	B-Application
Dorian	O
S	O
.	O
Nakamoto	O
of	O
Temple	O
City	O
,	O
California	O
,	O
saying	O
that	O
Satoshi	O
Nakamoto	O
is	O
the	O
man	O
's	O
birth	O
name	O
.	O
</s>
<s>
After	O
a	O
May	O
2020	O
YouTube	B-General_Concept
documentary	O
pointed	O
to	O
Adam	O
Back	O
as	O
the	O
creator	O
of	O
bitcoin	B-Protocol
,	O
widespread	O
discussion	O
ensued	O
.	O
</s>
<s>
The	O
first	O
notable	O
retail	O
transaction	O
involving	O
physical	O
goods	O
was	O
paid	O
on	O
May	O
22	O
,	O
2010	O
,	O
by	O
exchanging	O
10,000	O
mined	O
BTC	O
for	O
two	O
pizzas	O
delivered	O
from	O
a	O
local	O
pizza	O
restaurant	O
in	O
Florida	O
,	O
marking	O
May	O
22	O
as	O
the	O
Bitcoin	B-General_Concept
Pizza	I-General_Concept
Day	O
for	O
crypto-fans	O
.	O
</s>
<s>
At	O
the	O
time	O
,	O
a	O
transaction	O
's	O
value	O
was	O
typically	O
negotiated	O
on	O
the	O
Bitcoin	B-Protocol
forum	O
.	O
</s>
<s>
On	O
6	O
August	O
2010	O
,	O
a	O
major	O
vulnerability	O
in	O
the	O
bitcoin	B-Protocol
protocol	O
was	O
spotted	O
.	O
</s>
<s>
While	O
the	O
protocol	O
did	O
verify	O
that	O
a	O
transaction	O
's	O
outputs	O
never	O
exceeded	O
its	O
inputs	O
,	O
a	O
transaction	O
whose	O
outputs	O
summed	O
to	O
more	O
than	O
would	O
overflow	B-Error_Name
,	O
permitting	O
the	O
transaction	O
author	O
to	O
create	O
arbitrary	O
amounts	O
of	O
bitcoin	B-Protocol
.	O
</s>
<s>
On	O
15	O
August	O
,	O
the	O
vulnerability	O
was	O
exploited	O
;	O
a	O
single	O
transaction	O
spent	O
0.5	O
bitcoin	B-Protocol
to	O
send	O
just	O
over	O
92	O
billion	O
bitcoins	B-Protocol
(	O
satoshis	B-Protocol
)	O
to	O
each	O
of	O
two	O
different	O
addresses	O
on	O
the	O
network	O
.	O
</s>
<s>
Within	O
hours	O
,	O
the	O
transaction	O
was	O
spotted	O
,	O
the	O
bug	O
was	O
fixed	O
,	O
and	O
the	O
blockchain	O
was	O
forked	O
by	O
miners	O
using	O
an	O
updated	O
version	O
of	O
the	O
bitcoin	B-Protocol
protocol	O
.	O
</s>
<s>
Since	O
the	O
blockchain	O
was	O
forked	O
below	O
the	O
problematic	O
transaction	O
,	O
the	O
transaction	O
no	O
longer	O
appears	O
in	O
the	O
blockchain	O
used	O
by	O
the	O
Bitcoin	B-Protocol
network	O
today	O
.	O
</s>
<s>
This	O
was	O
the	O
only	O
major	O
security	O
flaw	O
found	O
and	O
exploited	O
in	O
bitcoin	B-Protocol
's	O
history	O
.	O
</s>
<s>
Based	O
on	O
bitcoin	B-Protocol
's	O
open-source	B-License
code	O
,	O
other	O
cryptocurrencies	O
started	O
to	O
emerge	O
.	O
</s>
<s>
The	O
Electronic	O
Frontier	O
Foundation	O
,	O
a	O
non-profit	O
group	O
,	O
started	O
accepting	O
bitcoins	B-Protocol
in	O
January	O
2011	O
,	O
then	O
stopped	O
accepting	O
them	O
in	O
June	O
2011	O
,	O
citing	O
concerns	O
about	O
a	O
lack	O
of	O
legal	O
precedent	O
about	O
new	O
currency	O
systems.EFF	O
said	O
they	O
"	O
generally	O
do	O
n't	O
endorse	O
any	O
type	O
of	O
product	O
or	O
service.	O
"	O
</s>
<s>
The	O
EFF	O
's	O
decision	O
was	O
reversed	O
on	O
17	O
May	O
2013	O
when	O
they	O
resumed	O
accepting	O
bitcoin	B-Protocol
.	O
</s>
<s>
In	O
May	O
2011	O
,	O
bitcoin	B-Protocol
payment	O
processor	O
,	O
BitPay	O
was	O
founded	O
to	O
provide	O
mobile	O
checkout	O
services	O
to	O
companies	O
wanting	O
to	O
accept	O
bitcoins	B-Protocol
as	O
a	O
form	O
of	O
payment	O
.	O
</s>
<s>
In	O
June	O
2011	O
,	O
WikiLeaks	O
and	O
other	O
organizations	O
began	O
to	O
accept	O
bitcoins	B-Protocol
for	O
donations	O
.	O
</s>
<s>
In	O
January	O
2012	O
,	O
bitcoin	B-Protocol
was	O
featured	O
as	O
the	O
main	O
subject	O
within	O
a	O
fictionalized	O
trial	O
on	O
the	O
CBS	O
legal	O
drama	O
The	O
Good	O
Wife	O
in	O
the	O
third-season	O
episode	O
"	O
Bitcoin	B-Protocol
for	O
Dummies	O
"	O
.	O
</s>
<s>
The	O
host	O
of	O
CNBC	O
's	O
Mad	O
Money	O
,	O
Jim	O
Cramer	O
,	O
played	O
himself	O
in	O
a	O
courtroom	O
scene	O
where	O
he	O
testifies	O
that	O
he	O
does	O
n't	O
consider	O
bitcoin	B-Protocol
a	O
true	O
currency	O
,	O
saying	O
,	O
"	O
There	O
's	O
no	O
central	O
bank	O
to	O
regulate	O
it	O
;	O
it	O
's	O
digital	O
and	O
functions	O
completely	O
peer	O
to	O
peer	O
"	O
.	O
</s>
<s>
In	O
September	O
2012	O
,	O
the	O
Bitcoin	B-Protocol
Foundation	O
was	O
launched	O
to	O
"	O
accelerate	O
the	O
global	O
growth	O
of	O
bitcoin	B-Protocol
through	O
standardization	O
,	O
protection	O
,	O
and	O
promotion	O
of	O
the	O
open	B-License
source	I-License
protocol	O
"	O
.	O
</s>
<s>
In	O
October	O
2012	O
,	O
BitPay	O
reported	O
having	O
over	O
1,000	O
merchants	O
accepting	O
bitcoin	B-Protocol
under	O
its	O
payment	O
processing	O
service	O
.	O
</s>
<s>
In	O
November	O
2012	O
,	O
WordPress	B-Application
started	O
accepting	O
bitcoins	B-Protocol
.	O
</s>
<s>
In	O
February	O
2013	O
,	O
the	O
bitcoin-based	O
payment	O
processor	O
Coinbase	O
reported	O
selling	O
US$1	O
million	O
worth	O
of	O
bitcoins	B-Protocol
in	O
a	O
single	O
month	O
at	O
over	O
$22	O
per	O
bitcoin	B-Protocol
.	O
</s>
<s>
The	O
Internet	O
Archive	O
announced	O
that	O
it	O
was	O
ready	O
to	O
accept	O
donations	O
as	O
bitcoins	B-Protocol
and	O
that	O
it	O
intends	O
to	O
give	O
employees	O
the	O
option	O
to	O
receive	O
portions	O
of	O
their	O
salaries	O
in	O
bitcoin	B-Protocol
currency	O
.	O
</s>
<s>
In	O
March	O
,	O
the	O
bitcoin	B-Protocol
transaction	O
log	O
,	O
called	O
the	O
blockchain	O
,	O
temporarily	O
split	O
into	O
two	O
independent	O
chains	O
with	O
differing	O
rules	O
on	O
how	O
transactions	O
were	O
accepted	O
.	O
</s>
<s>
For	O
six	O
hours	O
two	O
bitcoin	B-Protocol
networks	O
operated	O
at	O
the	O
same	O
time	O
,	O
each	O
with	O
its	O
own	O
version	O
of	O
the	O
transaction	O
history	O
.	O
</s>
<s>
Normal	O
operation	O
was	O
restored	O
when	O
the	O
majority	O
of	O
the	O
network	O
downgraded	O
to	O
version	O
0.7	O
of	O
the	O
bitcoin	B-Protocol
software	O
.	O
</s>
<s>
Gox	O
exchange	O
briefly	O
halted	O
bitcoin	B-Protocol
deposits	O
and	O
the	O
exchange	O
rate	O
briefly	O
dipped	O
by	O
23%	O
to	O
$37	O
as	O
the	O
event	O
occurred	O
before	O
recovering	O
to	O
previous	O
level	O
of	O
approximately	O
$48	O
in	O
the	O
following	O
hours	O
.	O
</s>
<s>
In	O
the	O
US	O
,	O
the	O
Financial	O
Crimes	O
Enforcement	O
Network	O
(	O
FinCEN	O
)	O
established	O
regulatory	O
guidelines	O
for	O
"	O
decentralized	O
virtual	O
currencies	O
"	O
such	O
as	O
bitcoin	B-Protocol
,	O
classifying	O
American	O
bitcoin	B-Protocol
miners	O
who	O
sell	O
their	O
generated	O
bitcoins	B-Protocol
as	O
Money	O
Service	O
Businesses	O
(	O
or	O
MSBs	O
)	O
,	O
that	O
may	O
be	O
subject	O
to	O
registration	O
and	O
other	O
legal	O
obligations	O
.	O
</s>
<s>
Retrieved	O
on	O
20	O
April	O
2013	O
.	O
resulting	O
in	O
the	O
bitcoin	B-Protocol
exchange	O
rate	O
dropping	O
from	O
$266	O
to	O
$76	O
before	O
returning	O
to	O
$160	O
within	O
six	O
hours	O
.	O
</s>
<s>
Bitcoin	B-Protocol
gained	O
greater	O
recognition	O
when	O
services	O
such	O
as	O
OkCupid	B-Application
and	O
Foodler	O
began	O
accepting	O
it	O
for	O
payment	O
.	O
</s>
<s>
In	O
April	O
2013	O
,	O
Eric	O
Posner	O
,	O
a	O
law	O
professor	O
at	O
the	O
University	O
of	O
Chicago	O
,	O
stated	O
that	O
"	O
a	O
real	O
Ponzi	O
scheme	O
takes	O
fraud	O
;	O
bitcoin	B-Protocol
,	O
by	O
contrast	O
,	O
seems	O
more	O
like	O
a	O
collective	O
delusion.	O
"	O
</s>
<s>
On	O
17	O
May	O
2013	O
,	O
it	O
was	O
reported	O
that	O
BitInstant	O
processed	O
approximately	O
30	O
percent	O
of	O
the	O
money	O
going	O
into	O
and	O
out	O
of	O
bitcoin	B-Protocol
,	O
and	O
in	O
April	O
alone	O
facilitated	O
30,000	O
transactions	O
,	O
</s>
<s>
On	O
23	O
June	O
2013	O
,	O
it	O
was	O
reported	O
that	O
the	O
US	O
Drug	O
Enforcement	O
Administration	O
listed	O
11.02	O
bitcoins	B-Protocol
as	O
a	O
seized	O
asset	O
in	O
a	O
United	O
States	O
Department	O
of	O
Justice	O
seizure	O
notice	O
pursuant	O
to	O
21	O
U.S.C.	O
</s>
<s>
This	O
marked	O
the	O
first	O
time	O
a	O
government	O
agency	O
claimed	O
to	O
have	O
seized	O
bitcoin	B-Protocol
.	O
</s>
<s>
In	O
July	O
2013	O
,	O
a	O
project	O
began	O
in	O
Kenya	O
linking	O
bitcoin	B-Protocol
with	O
M-Pesa	O
,	O
a	O
popular	O
mobile	O
payments	O
system	O
,	O
in	O
an	O
experiment	O
designed	O
to	O
spur	O
innovative	O
payments	O
in	O
Africa	O
.	O
</s>
<s>
During	O
the	O
same	O
month	O
the	O
Foreign	O
Exchange	O
Administration	O
and	O
Policy	O
Department	O
in	O
Thailand	O
stated	O
that	O
bitcoin	B-Protocol
lacks	O
any	O
legal	O
framework	O
and	O
would	O
therefore	O
be	O
illegal	O
,	O
which	O
effectively	O
banned	O
trading	O
on	O
bitcoin	B-Protocol
exchanges	O
in	O
the	O
country	O
.	O
</s>
<s>
On	O
6	O
August	O
2013	O
,	O
Federal	O
Judge	O
Amos	O
Mazzant	O
of	O
the	O
Eastern	O
District	O
of	O
Texas	O
of	O
the	O
Fifth	O
Circuit	O
ruled	O
that	O
bitcoins	B-Protocol
are	O
"	O
a	O
currency	O
or	O
a	O
form	O
of	O
money	O
"	O
(	O
specifically	O
securities	O
as	O
defined	O
by	O
Federal	O
Securities	O
Laws	O
)	O
,	O
and	O
as	O
such	O
were	O
subject	O
to	O
the	O
court	O
's	O
jurisdiction	O
,	O
and	O
Germany	O
's	O
Finance	O
Ministry	O
subsumed	O
bitcoins	B-Protocol
under	O
the	O
term	O
"	O
unit	O
of	O
account	O
"	O
a	O
financial	O
instrument	O
though	O
not	O
as	O
e-money	O
or	O
a	O
functional	O
currency	O
,	O
a	O
classification	O
nonetheless	O
having	O
legal	O
and	O
tax	O
implications	O
.	O
</s>
<s>
Two	O
companies	O
,	O
Robocoin	O
and	O
Bitcoiniacs	O
launched	O
the	O
world	O
's	O
first	O
bitcoin	B-Protocol
ATM	O
on	O
29	O
October	O
2013	O
in	O
Vancouver	O
,	O
BC	O
,	O
Canada	O
,	O
allowing	O
clients	O
to	O
sell	O
or	O
purchase	O
bitcoin	B-Protocol
currency	O
at	O
a	O
downtown	O
coffee	O
shop	O
.	O
</s>
<s>
Chinese	O
internet	O
giant	O
Baidu	B-Application
had	O
allowed	O
clients	O
of	O
website	O
security	O
services	O
to	O
pay	O
with	O
bitcoins	B-Protocol
.	O
</s>
<s>
In	O
November	O
2013	O
,	O
the	O
University	O
of	O
Nicosia	O
announced	O
that	O
it	O
would	O
be	O
accepting	O
bitcoin	B-Protocol
as	O
payment	O
for	O
tuition	O
fees	O
,	O
with	O
the	O
university	O
's	O
chief	O
financial	O
officer	O
calling	O
it	O
the	O
"	O
gold	O
of	O
tomorrow	O
"	O
.	O
</s>
<s>
During	O
November	O
2013	O
,	O
the	O
China-based	O
bitcoin	B-Protocol
exchange	O
BTC	O
China	O
overtook	O
the	O
Japan-based	O
Mt	O
.	O
</s>
<s>
Gox	O
and	O
the	O
Europe-based	O
Bitstamp	B-Protocol
to	O
become	O
the	O
largest	O
bitcoin	B-Protocol
trading	O
exchange	O
by	O
trade	O
volume	O
.	O
</s>
<s>
In	O
December	O
2013	O
,	O
Overstock.com	O
announced	O
plans	O
to	O
accept	O
bitcoin	B-Protocol
in	O
the	O
second	O
half	O
of	O
2014	O
.	O
</s>
<s>
On	O
5	O
December	O
2013	O
,	O
the	O
People	O
's	O
Bank	O
of	O
China	O
prohibited	O
Chinese	O
financial	O
institutions	O
from	O
using	O
bitcoins	B-Protocol
.	O
</s>
<s>
After	O
the	O
announcement	O
,	O
the	O
value	O
of	O
bitcoins	B-Protocol
dropped	O
,	O
and	O
Baidu	B-Application
no	O
longer	O
accepted	O
bitcoins	B-Protocol
for	O
certain	O
services	O
.	O
</s>
<s>
In	O
January	O
2014	O
,	O
Zynga	O
announced	O
it	O
was	O
testing	O
bitcoin	B-Protocol
for	O
purchasing	O
in-game	O
assets	O
in	O
seven	O
of	O
its	O
games	O
.	O
</s>
<s>
That	O
same	O
month	O
,	O
The	O
D	O
Las	O
Vegas	O
Casino	O
Hotel	O
and	O
Golden	O
Gate	O
Hotel	O
&	O
Casino	O
properties	O
in	O
downtown	O
Las	O
Vegas	O
announced	O
they	O
would	O
also	O
begin	O
accepting	O
bitcoin	B-Protocol
,	O
according	O
to	O
an	O
article	O
by	O
USA	O
Today	O
.	O
</s>
<s>
TigerDirect	O
and	O
Overstock.com	O
started	O
accepting	O
bitcoin	B-Protocol
.	O
</s>
<s>
In	O
early	O
February	O
2014	O
,	O
one	O
of	O
the	O
largest	O
bitcoin	B-Protocol
exchanges	O
,	O
Mt	O
.	O
</s>
<s>
Gox	O
had	O
filed	O
for	O
bankruptcy	O
protection	O
in	O
Japan	O
amid	O
reports	O
that	O
744,000	O
bitcoins	B-Protocol
had	O
been	O
stolen	O
.	O
</s>
<s>
On	O
18	O
June	O
2014	O
,	O
it	O
was	O
announced	O
that	O
bitcoin	B-Protocol
payment	O
service	O
provider	O
BitPay	O
would	O
become	O
the	O
new	O
sponsor	O
of	O
St.	O
Petersburg	O
Bowl	O
under	O
a	O
two-year	O
deal	O
,	O
renamed	O
the	O
Bitcoin	B-Protocol
St.	O
Petersburg	O
Bowl	O
.	O
</s>
<s>
Bitcoin	B-Protocol
was	O
to	O
be	O
accepted	O
for	O
ticket	O
and	O
concession	O
sales	O
at	O
the	O
game	O
as	O
part	O
of	O
the	O
sponsorship	O
,	O
and	O
the	O
sponsorship	O
itself	O
was	O
also	O
paid	O
for	O
using	O
bitcoin	B-Protocol
.	O
</s>
<s>
In	O
July	O
2014	O
,	O
Newegg	O
and	O
Dell	O
started	O
accepting	O
bitcoin	B-Protocol
.	O
</s>
<s>
In	O
September	O
2014	O
,	O
TeraExchange	O
,	O
LLC	O
,	O
received	O
approval	O
from	O
the	O
U.S.Commodity	O
Futures	O
Trading	O
Commission	O
"	O
CFTC	O
"	O
to	O
begin	O
listing	O
an	O
over-the-counter	O
swap	O
product	O
based	O
on	O
the	O
price	O
of	O
a	O
bitcoin	B-Protocol
.	O
</s>
<s>
The	O
CFTC	O
swap	O
product	O
approval	O
marks	O
the	O
first	O
time	O
a	O
U.S.	O
regulatory	O
agency	O
approved	O
a	O
bitcoin	B-Protocol
financial	O
product	O
.	O
</s>
<s>
In	O
December	O
2014	O
,	O
Microsoft	O
began	O
to	O
accept	O
bitcoin	B-Protocol
to	O
buy	O
Xbox	O
games	O
and	O
Windows	O
software	O
.	O
</s>
<s>
In	O
2014	O
,	O
several	O
light-hearted	O
songs	O
celebrating	O
bitcoin	B-Protocol
such	O
as	O
the	O
"	O
Ode	O
to	O
Satoshi	O
"	O
were	O
released	O
.	O
</s>
<s>
A	O
documentary	O
film	O
,	O
The	O
Rise	O
and	O
Rise	O
of	O
Bitcoin	B-Protocol
,	O
was	O
released	O
in	O
2014	O
,	O
featuring	O
interviews	O
with	O
bitcoin	B-Protocol
users	O
such	O
as	O
a	O
computer	O
programmer	O
and	O
a	O
drug	O
dealer	O
.	O
</s>
<s>
On	O
13	O
March	O
2014	O
,	O
Warren	O
Buffett	O
called	O
bitcoin	B-Protocol
a	O
"	O
mirage	O
"	O
.	O
</s>
<s>
In	O
January	O
2015	O
,	O
Coinbase	O
raised	O
US$75	O
million	O
as	O
part	O
of	O
a	O
Series	O
C	O
funding	O
round	O
,	O
smashing	O
the	O
previous	O
record	O
for	O
a	O
bitcoin	B-Protocol
company	O
.	O
</s>
<s>
Gox	O
,	O
United	O
Kingdom-based	O
exchange	O
Bitstamp	B-Protocol
announced	O
that	O
their	O
exchange	O
would	O
be	O
taken	O
offline	O
while	O
they	O
investigate	O
a	O
hack	O
which	O
resulted	O
in	O
about	O
19,000	O
bitcoins	B-Protocol
(	O
equivalent	O
to	O
roughly	O
US$5	O
million	O
at	O
that	O
time	O
)	O
being	O
stolen	O
from	O
their	O
hot	O
wallet	O
.	O
</s>
<s>
Bitstamp	B-Protocol
resumed	O
trading	O
on	O
9	O
January	O
after	O
increasing	O
security	O
measures	O
and	O
assuring	O
customers	O
that	O
their	O
account	O
balances	O
would	O
not	O
be	O
impacted	O
.	O
</s>
<s>
In	O
February	O
2015	O
,	O
the	O
number	O
of	O
merchants	O
accepting	O
bitcoin	B-Protocol
exceeded	O
100,000	O
.	O
</s>
<s>
In	O
2015	O
,	O
the	O
MAK	O
(	O
Museum	O
of	O
Applied	O
Arts	O
,	O
Vienna	O
)	O
became	O
the	O
first	O
museum	O
to	O
acquire	O
art	O
using	O
bitcoin	B-Protocol
,	O
when	O
it	O
purchased	O
the	O
screensaver	B-General_Concept
"	O
Event	O
listeners	O
"	O
of	O
van	O
den	O
Dorpel	O
.	O
</s>
<s>
In	O
October	O
2015	O
,	O
a	O
proposal	O
was	O
submitted	O
to	O
the	O
Unicode	O
Consortium	O
to	O
add	O
a	O
code	O
point	O
for	O
the	O
bitcoin	B-Protocol
symbol	O
.	O
</s>
<s>
In	O
March	O
2016	O
,	O
the	O
Cabinet	O
of	O
Japan	O
recognized	O
virtual	O
currencies	O
like	O
bitcoin	B-Protocol
as	O
having	O
a	O
function	O
similar	O
to	O
real	O
money	O
.	O
</s>
<s>
Bidorbuy	O
,	O
the	O
largest	O
South	O
African	O
online	O
marketplace	O
,	O
launched	O
bitcoin	B-Protocol
payments	O
for	O
both	O
buyers	O
and	O
sellers	O
.	O
</s>
<s>
In	O
July	O
2016	O
,	O
researchers	O
published	O
a	O
paper	O
showing	O
that	O
by	O
November	O
2013	O
bitcoin	B-Protocol
commerce	O
was	O
no	O
longer	O
driven	O
by	O
"	O
sin	O
"	O
activities	O
but	O
instead	O
by	O
legitimate	O
enterprises	O
.	O
</s>
<s>
In	O
August	O
2016	O
,	O
a	O
major	O
bitcoin	B-Protocol
exchange	O
,	O
Bitfinex	B-Protocol
,	O
was	O
hacked	O
and	O
nearly	O
120,000	O
BTC	O
(	O
around	O
$60m	O
)	O
was	O
stolen	O
.	O
</s>
<s>
In	O
November	O
2016	O
,	O
the	O
Swiss	O
Railway	O
operator	O
SBB	O
(	O
CFF	O
)	O
upgraded	O
all	O
their	O
automated	O
ticket	O
machines	O
so	O
that	O
bitcoin	B-Protocol
could	O
be	O
bought	O
from	O
them	O
using	O
the	O
scanner	O
on	O
the	O
ticket	O
machine	O
to	O
scan	O
the	O
bitcoin	B-Protocol
address	O
on	O
a	O
phone	O
app	O
.	O
</s>
<s>
Bitcoin	B-Protocol
generates	O
more	O
academic	O
interest	O
year	O
after	O
year	O
;	O
the	O
number	O
of	O
Google	B-Library
Scholar	I-Library
articles	O
published	O
mentioning	O
bitcoin	B-Protocol
grew	O
from	O
83	O
in	O
2009	O
,	O
to	O
424	O
in	O
2012	O
,	O
and	O
3580	O
in	O
2016	O
.	O
</s>
<s>
Also	O
,	O
the	O
academic	O
journal	O
Ledger	B-Language
published	O
its	O
first	O
issue	O
.	O
</s>
<s>
The	O
number	O
of	O
businesses	O
accepting	O
bitcoin	B-Protocol
continued	O
to	O
increase	O
.	O
</s>
<s>
In	O
January	O
2017	O
,	O
NHK	O
reported	O
the	O
number	O
of	O
online	O
stores	O
accepting	O
bitcoin	B-Protocol
in	O
Japan	O
had	O
increased	O
4.6	O
times	O
over	O
the	O
past	O
year	O
.	O
</s>
<s>
BitPay	O
CEO	O
Stephen	O
Pair	O
declared	O
the	O
company	O
's	O
transaction	O
rate	O
grew	O
3×	O
from	O
January	O
2016	O
to	O
February	O
2017	O
,	O
and	O
explained	O
usage	O
of	O
bitcoin	B-Protocol
is	O
growing	O
in	O
B2B	O
supply	O
chain	O
payments	O
.	O
</s>
<s>
Bitcoin	B-Protocol
gains	O
more	O
legitimacy	O
among	O
lawmakers	O
and	O
legacy	O
financial	O
companies	O
.	O
</s>
<s>
For	O
example	O
,	O
Japan	O
passed	O
a	O
law	O
to	O
accept	O
bitcoin	B-Protocol
as	O
a	O
legal	O
payment	O
method	O
,	O
and	O
Russia	O
has	O
announced	O
that	O
it	O
will	O
legalize	O
the	O
use	O
of	O
cryptocurrencies	O
such	O
as	O
bitcoin	B-Protocol
.	O
</s>
<s>
In	O
June	O
2017	O
,	O
the	O
bitcoin	B-Protocol
symbol	O
was	O
encoded	O
in	O
Unicode	O
version	O
10.0	O
at	O
position	O
U+20BF	O
( ₿	O
)	O
in	O
the	O
Currency	O
Symbols	O
block	O
.	O
</s>
<s>
Up	O
until	O
July	O
2017	O
,	O
bitcoin	B-Protocol
users	O
maintained	O
a	O
common	O
set	O
of	O
rules	O
for	O
the	O
cryptocurrency	O
.	O
</s>
<s>
On	O
1	O
August	O
2017	O
bitcoin	B-Protocol
split	O
into	O
two	O
derivative	O
digital	O
currencies	O
,	O
the	O
bitcoin	B-Protocol
(	O
BTC	O
)	O
chain	O
with	O
1	O
MB	O
blocksize	O
limit	O
and	O
the	O
Bitcoin	B-Protocol
Cash	I-Protocol
(	O
BCH	O
)	O
chain	O
with	O
8	O
MB	O
blocksize	O
limit	O
.	O
</s>
<s>
The	O
split	O
has	O
been	O
called	O
the	O
Bitcoin	B-Protocol
Cash	I-Protocol
hard	O
fork	O
.	O
</s>
<s>
On	O
6	O
December	O
2017	O
the	O
software	O
marketplace	O
Steam	B-Application
announced	O
that	O
it	O
would	O
no	O
longer	O
accept	O
bitcoin	B-Protocol
as	O
payment	O
for	O
its	O
products	O
,	O
citing	O
slow	O
transactions	O
speeds	O
,	O
price	O
volatility	O
,	O
and	O
high	O
fees	O
for	O
transactions	O
.	O
</s>
<s>
On	O
22	O
January	O
2018	O
,	O
South	O
Korea	O
brought	O
in	O
a	O
regulation	O
that	O
requires	O
all	O
the	O
bitcoin	B-Protocol
traders	O
to	O
reveal	O
their	O
identity	O
,	O
thus	O
putting	O
a	O
ban	O
on	O
anonymous	O
trading	O
of	O
bitcoins	B-Protocol
.	O
</s>
<s>
On	O
24	O
January	O
2018	O
,	O
the	O
online	O
payment	O
firm	O
Stripe	B-Application
announced	O
that	O
it	O
would	O
phase	O
out	O
its	O
support	O
for	O
bitcoin	B-Protocol
payments	O
by	O
late	O
April	O
2018	O
,	O
citing	O
declining	O
demand	O
,	O
rising	O
fees	O
and	O
longer	O
transaction	O
times	O
as	O
the	O
reasons	O
.	O
</s>
<s>
On	O
25	O
January	O
2018	O
,	O
George	O
Soros	O
referred	O
to	O
bitcoin	B-Protocol
as	O
a	O
bubble	O
.	O
</s>
<s>
The	O
dawn	O
of	O
2019	O
found	O
Bitcoin	B-Protocol
trading	O
below	O
the	O
$4000	O
mark	O
after	O
a	O
difficult	O
year	O
for	O
the	O
global	O
crypto	O
market	O
.	O
</s>
<s>
Shares	O
started	O
to	O
quote	O
a	O
set	O
of	O
bitcoin	B-Protocol
exchange-traded	O
products	O
(	O
ETP	O
)	O
on	O
the	O
Xetra	O
trading	O
system	O
of	O
the	O
Deutsche	O
Boerse	O
.	O
</s>
<s>
On	O
1	O
September	O
2020	O
,	O
the	O
Wiener	O
Börse	O
listed	O
its	O
first	O
21	O
titles	O
denominated	O
in	O
cryptocurrencies	O
like	O
bitcoin	B-Protocol
,	O
including	O
the	O
services	O
of	O
real-time	O
quotation	O
and	O
securities	O
settlement	O
.	O
</s>
<s>
On	O
3	O
September	O
2020	O
,	O
the	O
Frankfurt	O
Stock	O
Exchange	O
admitted	O
in	O
its	O
Regulated	O
Market	O
the	O
quotation	O
of	O
the	O
first	O
bitcoin	B-Protocol
exchange-traded	O
note	O
(	O
ETN	O
)	O
,	O
centrally	O
cleared	O
via	O
Eurex	O
Clearing	O
.	O
</s>
<s>
In	O
October	O
2020	O
,	O
PayPal	O
announced	O
that	O
it	O
would	O
allow	O
its	O
users	O
to	O
buy	O
and	O
sell	O
bitcoin	B-Protocol
on	O
its	O
platform	O
,	O
although	O
not	O
to	O
deposit	O
or	O
withdraw	O
bitcoins	B-Protocol
.	O
</s>
<s>
From	O
February	O
2021	O
,	O
the	O
Swiss	O
canton	O
of	O
Zug	O
allows	O
for	O
tax	O
payments	O
in	O
bitcoin	B-Protocol
and	O
other	O
cryptocurrencies	O
.	O
</s>
<s>
On	O
1	O
June	O
2021	O
,	O
El	O
Salvador	O
President	O
Nayib	O
Bukele	O
announced	O
his	O
plans	O
to	O
adopt	O
bitcoin	B-Protocol
as	O
legal	O
tender	O
;	O
this	O
would	O
render	O
El	O
Salvador	O
the	O
world	O
's	O
first	O
country	O
to	O
do	O
so	O
.	O
</s>
<s>
On	O
8	O
June	O
2021	O
,	O
at	O
the	O
initiative	O
of	O
the	O
president	O
,	O
pro-government	O
deputies	O
in	O
the	O
Legislative	O
Assembly	O
of	O
El	O
Salvador	O
voted	O
legislation	O
—	O
Ley	O
Bitcoin	B-Protocol
or	O
the	O
Bitcoin	B-Protocol
Law	O
—	O
to	O
make	O
Bitcoin	B-Protocol
legal	O
tender	O
in	O
the	O
country	O
alongside	O
the	O
US	O
Dollar	O
.	O
</s>
<s>
Global	O
economic	O
factors	O
that	O
stemmed	O
from	O
Russia	O
's	O
War	O
in	O
Ukraine	O
negatively	O
affected	O
the	O
price	O
of	O
Bitcoin	B-Protocol
.	O
</s>
<s>
It	O
further	O
dropped	O
to	O
as	O
low	O
as	O
$	O
26,970	O
in	O
May	O
after	O
the	O
collapse	O
of	O
Terra-Luna	B-Application
and	O
its	O
sister	O
stablecoin	O
,	O
UST	O
,	O
in	O
addition	O
to	O
a	O
shedding	O
of	O
tech	O
stocks	O
.	O
</s>
<s>
On	O
18	O
June	O
,	O
Bitcoin	B-Protocol
dropped	O
below	O
$18	O
,	O
000	O
,	O
to	O
trade	O
at	O
levels	O
beneath	O
its	O
2017	O
highs	O
.	O
</s>
<s>
thumb|450px|The	O
price	O
of	O
a	O
bitcoin	B-Protocol
reached	O
US$	O
1,139	O
.9	O
on	O
4	O
January	O
2017	O
.	O
</s>
<s>
Until	O
2013	O
,	O
almost	O
all	O
market	O
with	O
bitcoins	B-Protocol
were	O
in	O
United	O
States	O
dollars	O
(	O
US$	O
)	O
.	O
</s>
<s>
As	O
the	O
market	O
valuation	O
of	O
the	O
total	O
stock	O
of	O
bitcoins	B-Protocol
approached	O
US$1	O
billion	O
,	O
some	O
commentators	O
called	O
bitcoin	B-Protocol
prices	O
a	O
bubble	O
.	O
</s>
<s>
In	O
early	O
April	O
2013	O
,	O
the	O
price	O
per	O
bitcoin	B-Protocol
dropped	O
from	O
$266	O
to	O
around	O
$50	O
and	O
then	O
rose	O
to	O
around	O
$100	O
.	O
</s>
<s>
Bitcoin	B-Protocol
passed	O
US$	O
1,000	O
on	O
28	O
November	O
2013	O
at	O
Mt	O
.	O
</s>
<s>
+Bitcoin	O
value	O
history	O
(	O
comparison	O
to	O
US$	O
)	O
Date	O
USD	O
:	O
1	B-Protocol
BTC	I-Protocol
NotesJan	O
2009	O
–	O
Mar	O
2010basically	O
nothingNo	O
exchanges	O
or	O
market	O
;	O
users	O
were	O
mainly	O
cryptography	O
fans	O
who	O
were	O
sending	O
bitcoins	B-Protocol
for	O
hobby	O
purposes	O
representing	O
low	O
or	O
no	O
value	O
.	O
</s>
<s>
This	O
surge	O
in	O
bitcoin	B-Protocol
may	O
be	O
related	O
to	O
the	O
2017	O
Zimbabwean	O
coup	O
d'état	O
.	O
</s>
<s>
On	O
one	O
bitcoin	B-Protocol
exchange	O
,	O
1	B-Protocol
BTC	I-Protocol
topped	O
at	O
nearly	O
$13	O
,	O
500	O
,	O
just	O
shy	O
of	O
2	O
times	O
the	O
value	O
of	O
the	O
International	O
market.15	O
December	O
2017$	O
17,900	O
Price	O
reached	O
$	O
17,900	O
.17	O
December	O
2017$	O
19,783	O
Price	O
rose	O
5%	O
in	O
24	O
hours	O
,	O
with	O
its	O
value	O
being	O
up	O
1,824	O
%	O
since	O
1	O
January	O
2017	O
,	O
to	O
reach	O
a	O
new	O
all-time	O
high	O
of	O
$	O
19,783	O
.06.22	O
December	O
2017$	O
13,800	O
Price	O
lost	O
one	O
third	O
of	O
its	O
value	O
in	O
24	O
hours	O
,	O
dropping	O
below	O
$	O
14,000	O
.5	O
February	O
2018$	O
6,200	O
Price	O
dropped	O
by	O
50%	O
in	O
16	O
days	O
,	O
falling	O
below	O
$	O
7,000	O
.31	O
October	O
2018$	O
6,300	O
On	O
the	O
10th	O
anniversary	O
of	O
bitcoin	B-Protocol
,	O
the	O
price	O
held	O
steady	O
above	O
$	O
6,000	O
during	O
a	O
period	O
of	O
historically	O
low	O
volatility.7	O
December	O
2018$	O
3,300	O
Price	O
briefly	O
dipped	O
below	O
$3	O
,	O
300	O
,	O
a	O
76%	O
drop	O
from	O
the	O
previous	O
year	O
and	O
a	O
15-month	O
low.1	O
July	O
2019$	O
10,599	O
Rose	O
to	O
a	O
calendar-year	O
peak	O
of	O
$	O
10,599	O
after	O
starting	O
the	O
year	O
at	O
$	O
3,869	O
.16	O
March	O
2020$	O
5,000	O
Price	O
dropped	O
50%	O
in	O
early	O
2020	O
,	O
losing	O
25%	O
in	O
24	O
hours	O
early	O
in	O
the	O
COVID-19	O
pandemic.27	O
July	O
2020$	O
10,944	O
Price	O
recovered	O
value	O
lost	O
in	O
COVID-related	O
crash.30	O
November	O
2020$	O
19,850	O
Bitcoin	B-Protocol
price	O
reached	O
new	O
all-time	O
high	O
of	O
$	O
19,850	O
.11.8	O
January	O
2021$	O
41,973	O
Bitcoin	B-Protocol
traded	O
as	O
high	O
as	O
$	O
41,973	O
.11	O
January	O
2021$	O
33,400	O
Price	O
briefly	O
fell	O
as	O
much	O
as	O
26%	O
but	O
pared	O
losses	O
to	O
trade	O
around	O
$	O
33,400	O
.8	O
February	O
2021$	O
44,200	O
Bitcoin	B-Protocol
price	O
surge	O
after	O
Elon	O
Musk	O
and	O
Tesla	O
announcements	O
of	O
investments	O
into	O
Bitcoin	B-Protocol
,	O
including	O
acceptance	O
of	O
payment.16	O
February	O
2021$	O
50,000	O
Bitcoin	B-Protocol
price	O
reached	O
new	O
all-time	O
high	O
of	O
$	O
50,000	O
.10	O
April	O
2021$	O
60,000	O
Bitcoin	B-Protocol
back	O
above	O
$	O
60,000	O
as	O
Coinbase	O
gets	O
ready	O
to	O
go	O
public	O
on	O
the	O
stock	O
market.14	O
April	O
2021$	O
64,800	O
The	O
all-time	O
high	O
price	O
of	O
$	O
64,800	O
was	O
reached	O
on	O
April	O
14	O
,	O
2021.19	O
May	O
2021$	O
30,000	O
Bitcoin	B-Protocol
price	O
drops	O
to	O
$	O
30,000	O
at	O
one	O
point	O
following	O
suggestions	O
that	O
Tesla	O
has	O
sold	O
or	O
will	O
sell	O
its	O
Bitcoin	B-Protocol
holdings	O
and	O
a	O
new	O
set	O
of	O
regulations	O
from	O
the	O
Chinese	O
government	O
to	O
support	O
their	O
cryptocurrency	O
crackdown.2	O
September	O
2021$	O
50,128	O
Bitcoin	B-Protocol
price	O
recovered	O
to	O
$50	O
,	O
00017	O
October	O
2021$	O
62,600	O
Bitcoin	B-Protocol
price	O
returned	O
near	O
to	O
its	O
all-time	O
high20	O
October	O
2021$	O
66,975	O
Bitcoin	B-Protocol
price	O
hits	O
all-time	O
high	O
above	O
$66	O
,	O
00022	O
January	O
2022$	O
35,000	O
Bitcoin	B-Protocol
price	O
falls	O
almost	O
50%	O
from	O
all-time	O
highs	O
,	O
to	O
below	O
$35	O
,	O
00012	O
May	O
2022$	O
25,401	O
Following	O
the	O
Terra-LUNA	B-Application
crash	O
in	O
May	O
2022	O
,	O
Bitcoin	B-Protocol
retreated	O
to	O
its	O
lowest	O
level	O
since	O
December	O
2020	O
.	O
</s>
<s>
Traders	O
seized	O
the	O
discounted	O
bitcoin	B-Protocol
to	O
buoy	O
the	O
price	O
around	O
the	O
$30k	O
mark.13	O
June	O
2022$	O
22,602	O
Bitcoin	B-Protocol
slid	O
to	O
$	O
22,601	O
.69	O
as	O
Celsius	O
Network	O
froze	O
withdrawals	O
and	O
transfers	O
,	O
citing	O
"	O
extreme	O
"	O
conditions.18	O
June	O
2022$	O
17,769	O
Bitcoin	B-Protocol
dropped	O
below	O
$18	O
,	O
000	O
,	O
to	O
trade	O
at	O
levels	O
beneath	O
its	O
2017	O
highs.27	O
June	O
2022$	O
20,700	O
Bitcoin	B-Protocol
traded	O
around	O
$	O
20,700	O
as	O
cryptocurrency	O
hedge	O
fund	O
Three	O
Arrows	O
Capital	O
defaulted	O
on	O
a	O
bitcoin	B-Protocol
loan	O
and	O
was	O
ordered	O
into	O
liquidation	O
by	O
a	O
court	O
in	O
the	O
British	O
Virgin	O
Islands.28	O
November	O
2022$	O
16,216	O
Bitcoin	B-Protocol
took	O
an	O
immediate	O
hit	O
after	O
the	O
collapse	O
of	O
FTX	O
,	O
costing	O
more	O
than	O
a	O
million	O
users	O
of	O
the	O
exchange	O
billions	O
of	O
dollars	O
in	O
cumulative	O
losses	O
.	O
</s>
<s>
Bitcoin	B-Protocol
sunk	O
to	O
a	O
two-year	O
low.14	O
January	O
2023$	O
20,853	O
Bitcoin	B-Protocol
rose	O
back	O
above	O
$	O
20,000	O
for	O
first	O
time	O
in	O
over	O
two	O
months21	O
January	O
2023$	O
23,199	O
Bitcoin	B-Protocol
rose	O
above	O
$	O
23,000	O
to	O
its	O
highest	O
levels	O
since	O
August	O
202216	O
February	O
2023$	O
25,156	O
Bitcoin	B-Protocol
rose	O
above	O
$	O
25,000	O
for	O
the	O
first	O
time	O
in	O
eight	O
months10	O
March	O
2023$	O
20,000	O
Bitcoin	B-Protocol
fell	O
below	O
$	O
20,000	O
for	O
the	O
first	O
time	O
since	O
January	O
2023.17	O
March	O
2023$	O
26,868	O
Bitcoin	B-Protocol
rose	O
to	O
$	O
26,868	O
.39	O
,	O
recording	O
its	O
best	O
weekly	O
gain	O
since	O
January	O
2021	O
.	O
</s>
<s>
Accidental	O
forks	O
on	O
the	O
bitcoin	B-Protocol
network	O
regularly	O
occur	O
as	O
part	O
of	O
the	O
mining	O
process	O
.	O
</s>
<s>
On	O
12	O
March	O
2013	O
,	O
a	O
bitcoin	B-Protocol
miner	O
running	O
version	O
0.8.0	O
of	O
the	O
bitcoin	B-Protocol
software	O
created	O
a	O
large	O
block	O
that	O
was	O
considered	O
invalid	O
in	O
version	O
0.7	O
(	O
due	O
to	O
an	O
undiscovered	O
inconsistency	O
between	O
the	O
two	O
versions	O
)	O
.	O
</s>
<s>
Gox	O
exchange	O
temporarily	O
halted	O
bitcoin	B-Protocol
deposits	O
.	O
</s>
<s>
One	O
,	O
Bitcoin	B-Protocol
Cash	I-Protocol
,	O
is	O
a	O
hard	O
fork	O
off	O
the	O
main	O
chain	O
in	O
opposition	O
to	O
the	O
other	O
,	O
which	O
is	O
a	O
soft	O
fork	O
to	O
implement	O
Segregated	O
Witness	O
.	O
</s>
<s>
It	O
classified	O
digital	O
currencies	O
and	O
other	O
digital	O
payment	O
systems	O
such	O
as	O
bitcoin	B-Protocol
as	O
"	O
virtual	O
currencies	O
"	O
because	O
they	O
are	O
not	O
legal	O
tender	O
under	O
any	O
sovereign	O
jurisdiction	O
.	O
</s>
<s>
FinCEN	O
cleared	O
American	O
users	O
of	O
bitcoin	B-Protocol
of	O
legal	O
obligations	O
by	O
saying	O
,	O
"	O
A	O
user	O
of	O
virtual	O
currency	O
is	O
not	O
an	O
MSB	O
under	O
FinCEN	O
's	O
regulations	O
and	O
therefore	O
is	O
not	O
subject	O
to	O
MSB	O
registration	O
,	O
reporting	O
,	O
and	O
recordkeeping	O
regulations.	O
"	O
</s>
<s>
However	O
,	O
it	O
held	O
that	O
American	O
entities	O
who	O
generate	O
"	O
virtual	O
currency	O
"	O
such	O
as	O
bitcoins	B-Protocol
are	O
money	O
transmitters	O
or	O
MSBs	O
if	O
they	O
sell	O
their	O
generated	O
currency	O
for	O
national	O
currency	O
:	O
"	O
a	O
...	O
person	O
that	O
creates	O
units	O
of	O
convertible	O
virtual	O
currency	O
and	O
sells	O
those	O
units	O
to	O
another	O
person	O
for	O
real	O
currency	O
or	O
its	O
equivalent	O
is	O
engaged	O
in	O
transmission	O
to	O
another	O
location	O
and	O
is	O
a	O
money	O
transmitter.	O
"	O
</s>
<s>
This	O
specifically	O
extends	O
to	O
"	O
miners	O
"	O
of	O
the	O
bitcoin	B-Protocol
currency	O
who	O
may	O
have	O
to	O
register	O
as	O
MSBs	O
and	O
abide	O
by	O
the	O
legal	O
requirements	O
of	O
being	O
a	O
money	O
transmitter	O
if	O
they	O
sell	O
their	O
generated	O
bitcoins	B-Protocol
for	O
national	O
currency	O
and	O
are	O
within	O
the	O
United	O
States	O
.	O
</s>
<s>
Additionally	O
,	O
FinCEN	O
claimed	O
regulation	O
over	O
American	O
entities	O
that	O
manage	O
bitcoins	B-Protocol
in	O
a	O
payment	O
processor	O
setting	O
or	O
as	O
an	O
exchanger	O
:	O
"	O
In	O
addition	O
,	O
a	O
person	O
is	O
an	O
exchanger	O
and	O
a	O
money	O
transmitter	O
if	O
the	O
person	O
accepts	O
such	O
de-centralized	O
convertible	O
virtual	O
currency	O
from	O
one	O
person	O
and	O
transmits	O
it	O
to	O
another	O
person	O
as	O
part	O
of	O
the	O
acceptance	O
and	O
transfer	O
of	O
currency	O
,	O
funds	O
,	O
or	O
other	O
value	O
that	O
substitutes	O
for	O
currency.	O
"	O
</s>
<s>
In	O
summary	O
,	O
FinCEN	O
's	O
decision	O
would	O
require	O
bitcoin	B-Protocol
exchanges	O
where	O
bitcoins	B-Protocol
are	O
traded	O
for	O
traditional	O
currencies	O
to	O
disclose	O
large	O
transactions	O
and	O
suspicious	O
activity	O
,	O
comply	O
with	O
money	O
laundering	O
regulations	O
,	O
and	O
collect	O
information	O
about	O
their	O
customers	O
as	O
traditional	O
financial	O
institutions	O
are	O
required	O
to	O
do	O
.	O
</s>
<s>
In	O
2013	O
,	O
the	O
U.S.	O
Treasury	O
extended	O
its	O
anti-money	O
laundering	O
regulations	O
to	O
processors	O
of	O
bitcoin	B-Protocol
transactions	O
..	O
Fox	O
News	O
(	O
11	O
April	O
2013	O
)	O
.	O
</s>
<s>
In	O
June	O
2013	O
,	O
Bitcoin	B-Protocol
Foundation	O
board	O
member	O
Jon	O
Matonis	O
wrote	O
in	O
Forbes	O
that	O
he	O
received	O
a	O
warning	O
letter	O
from	O
the	O
California	O
Department	O
of	O
Financial	O
Institutions	O
accusing	O
the	O
foundation	O
of	O
unlicensed	O
money	O
transmission	O
.	O
</s>
<s>
In	O
2014	O
,	O
the	O
U.S.	O
Securities	O
and	O
Exchange	O
Commission	O
filed	O
an	O
administrative	O
action	O
against	O
Erik	O
T	O
.	O
Voorhees	O
,	O
for	O
violating	O
Securities	O
Act	O
Section	O
5	O
for	O
publicly	O
offering	O
unregistered	O
interests	O
in	O
two	O
bitcoin	B-Protocol
websites	O
in	O
exchange	O
for	O
bitcoins	B-Protocol
.	O
</s>
<s>
By	O
December	O
2017	O
,	O
bitcoin	B-Protocol
futures	O
contracts	O
began	O
to	O
be	O
offered	O
,	O
and	O
the	O
US	O
Chicago	O
Board	O
Options	O
Exchange	O
(	O
CBOE	O
)	O
was	O
formally	O
settling	O
the	O
futures	O
daily	O
.	O
</s>
<s>
By	O
2019	O
,	O
multiple	O
trading	O
companies	O
were	O
offering	O
services	O
around	O
bitcoin	B-Protocol
futures	O
.	O
</s>
<s>
A	O
bitcoin	B-Protocol
faucet	O
is	O
a	O
reward	O
system	O
,	O
in	O
the	O
form	O
of	O
a	O
website	O
or	O
software	B-Application
app	I-Application
,	O
that	O
dispenses	O
rewards	O
in	O
the	O
form	O
of	O
a	O
satoshi	O
,	O
which	O
is	O
worth	O
a	O
hundredth	O
of	O
a	O
millionth	O
BTC	O
,	O
for	O
visitors	O
to	O
claim	O
in	O
exchange	O
for	O
completing	O
a	O
captcha	O
or	O
task	O
as	O
described	O
by	O
the	O
website	O
.	O
</s>
<s>
The	O
first	O
bitcoin	B-Protocol
faucet	O
was	O
called	O
"	O
The	O
Bitcoin	B-Protocol
Faucet	O
"	O
and	O
was	O
developed	O
by	O
Gavin	O
Andresen	O
in	O
2010	O
.	O
</s>
<s>
It	O
originally	O
gave	O
out	O
five	O
bitcoins	B-Protocol
per	O
person	O
.	O
</s>
<s>
Faucets	O
usually	O
give	O
fractions	O
of	O
a	O
bitcoin	B-Protocol
,	O
but	O
the	O
amount	O
will	O
typically	O
fluctuate	O
according	O
to	O
the	O
value	O
of	O
bitcoin	B-Protocol
.	O
</s>
<s>
To	O
reduce	O
mining	O
fees	O
,	O
faucets	O
normally	O
save	O
up	O
these	O
small	O
individual	O
payments	O
in	O
their	O
own	O
ledgers	B-Language
,	O
which	O
then	O
add	O
up	O
to	O
make	O
a	O
larger	O
payment	O
that	O
is	O
sent	O
to	O
a	O
user	O
's	O
bitcoin	B-Protocol
address	O
.	O
</s>
<s>
Because	O
bitcoin	B-Protocol
transactions	O
are	O
irreversible	O
and	O
there	O
are	O
many	O
faucets	O
,	O
they	O
have	O
become	O
targets	O
for	O
hackers	O
interested	O
in	O
stealing	O
bitcoins	B-Protocol
.	O
</s>
<s>
Advertisements	O
are	O
the	O
main	O
income	O
source	O
of	O
bitcoin	B-Protocol
faucets	O
.	O
</s>
<s>
Faucets	O
try	O
to	O
get	O
traffic	O
from	O
users	O
by	O
offering	O
free	O
bitcoin	B-Protocol
as	O
an	O
incentive	O
.	O
</s>
<s>
Some	O
ad	O
networks	O
also	O
pay	O
directly	O
in	O
bitcoin	B-Protocol
.	O
</s>
<s>
Bitcoins	B-Protocol
can	O
be	O
stored	O
in	O
a	O
bitcoin	B-Protocol
cryptocurrency	B-Protocol
wallet	I-Protocol
.	O
</s>
<s>
Theft	O
of	O
bitcoin	B-Protocol
has	O
been	O
documented	O
on	O
numerous	O
occasions	O
.	O
</s>
<s>
At	O
other	O
times	O
,	O
bitcoin	B-Protocol
exchanges	O
have	O
shut	O
down	O
,	O
taking	O
their	O
clients	O
 '	O
bitcoins	B-Protocol
with	O
them	O
.	O
</s>
<s>
A	O
Wired''	O
study	O
published	O
April	O
2013	O
showed	O
that	O
45	O
percent	O
of	O
bitcoin	B-Protocol
exchanges	O
end	O
up	O
closing	O
.	O
</s>
<s>
Gox	O
bitcoin	B-Protocol
exchange	O
caused	O
the	O
nominal	O
price	O
of	O
a	O
bitcoin	B-Protocol
to	O
fraudulently	O
drop	O
to	O
one	O
cent	O
on	O
the	O
Mt	O
.	O
</s>
<s>
Gox	O
auditor	O
's	O
compromised	O
computer	O
illegally	O
to	O
transfer	O
a	O
large	O
number	O
of	O
bitcoins	B-Protocol
to	O
himself	O
.	O
</s>
<s>
In	O
July	O
2011	O
,	O
the	O
operator	O
of	O
Bitomat	O
,	O
the	O
third-largest	O
bitcoin	B-Protocol
exchange	O
,	O
announced	O
that	O
he	O
had	O
lost	O
access	O
to	O
his	O
wallet.dat	O
file	O
with	O
about	O
17,000	O
bitcoins	B-Protocol
(	O
roughly	O
equivalent	O
to	O
US$	O
220,000	O
at	O
that	O
time	O
)	O
.	O
</s>
<s>
In	O
August	O
2011	O
,	O
MyBitcoin	O
,	O
a	O
now	O
defunct	O
bitcoin	B-Protocol
transaction	O
processor	O
,	O
declared	O
that	O
it	O
was	O
hacked	O
,	O
which	O
caused	O
it	O
to	O
be	O
shut	O
down	O
,	O
paying	O
49%	O
on	O
customer	O
deposits	O
,	O
leaving	O
more	O
than	O
78,000	O
bitcoins	B-Protocol
(	O
equivalent	O
to	O
roughly	O
US$	O
800,000	O
at	O
that	O
time	O
)	O
unaccounted	O
for	O
.	O
</s>
<s>
In	O
early	O
August	O
2012	O
,	O
a	O
lawsuit	O
was	O
filed	O
in	O
San	O
Francisco	O
court	O
against	O
Bitcoinica	O
a	O
bitcoin	B-Protocol
trading	O
venue	O
claiming	O
about	O
US$	O
460,000	O
from	O
the	O
company	O
.	O
</s>
<s>
In	O
late	O
August	O
2012	O
,	O
an	O
operation	O
titled	O
Bitcoin	B-Protocol
Savings	O
and	O
Trust	O
was	O
shut	O
down	O
by	O
the	O
owner	O
,	O
leaving	O
around	O
US	O
$5.6	O
million	O
in	O
bitcoin-based	O
debts	O
;	O
this	O
led	O
to	O
allegations	O
that	O
the	O
operation	O
was	O
a	O
Ponzi	O
scheme	O
.	O
</s>
<s>
In	O
September	O
2012	O
,	O
Bitfloor	O
,	O
a	O
bitcoin	B-Protocol
exchange	O
,	O
also	O
reported	O
being	O
hacked	O
,	O
with	O
24,000	O
bitcoins	B-Protocol
(	O
worth	O
about	O
US$	O
250,000	O
)	O
stolen	O
.	O
</s>
<s>
On	O
3	O
April	O
2013	O
,	O
Instawallet	O
,	O
a	O
web-based	O
wallet	O
provider	O
,	O
was	O
hacked	O
,	O
resulting	O
in	O
the	O
theft	O
of	O
over	O
35,000	O
bitcoins	B-Protocol
which	O
were	O
valued	O
at	O
US	O
$129.90	O
per	O
bitcoin	B-Protocol
at	O
the	O
time	O
,	O
or	O
nearly	O
$4.6	O
million	O
in	O
total	O
.	O
</s>
<s>
On	O
11	O
August	O
2013	O
,	O
the	O
Bitcoin	B-Protocol
Foundation	O
announced	O
that	O
a	O
bug	O
in	O
a	O
pseudorandom	B-Algorithm
number	I-Algorithm
generator	I-Algorithm
within	O
the	O
Android	B-Application
operating	I-Application
system	I-Application
had	O
been	O
exploited	O
to	O
steal	O
from	O
wallets	O
generated	O
by	O
Android	B-Application
apps	O
;	O
fixes	O
were	O
provided	O
13	O
August	O
2013	O
.	O
</s>
<s>
In	O
October	O
2013	O
,	O
Inputs.io,	O
an	O
Australian-based	O
bitcoin	B-Protocol
wallet	O
provider	O
was	O
hacked	O
with	O
a	O
loss	O
of	O
4100	O
bitcoins	B-Protocol
,	O
worth	O
over	O
A$1	O
million	O
at	O
time	O
of	O
theft	O
.	O
</s>
<s>
Coinchat	O
,	O
the	O
associated	O
bitcoin	B-Protocol
chat	O
room	O
,	O
was	O
taken	O
over	O
by	O
a	O
new	O
admin	O
.	O
</s>
<s>
On	O
26	O
October	O
2013	O
,	O
a	O
Hong	O
Kong	O
–	O
based	O
bitcoin	B-Protocol
trading	O
platform	O
owned	O
by	O
Global	O
Bond	O
Limited	O
(	O
GBL	O
)	O
vanished	O
with	O
30	O
million	O
yuan	O
(	O
US$5	O
million	O
)	O
from	O
500	O
investors	O
.	O
</s>
<s>
Gox	O
,	O
the	O
Japan-based	O
exchange	O
that	O
in	O
2013	O
handled	O
70%	O
of	O
all	O
worldwide	O
bitcoin	B-Protocol
traffic	O
,	O
declared	O
bankruptcy	O
in	O
February	O
2014	O
,	O
with	O
bitcoins	B-Protocol
worth	O
about	O
$390	O
million	O
missing	O
,	O
for	O
unclear	O
reasons	O
.	O
</s>
<s>
On	O
3	O
March	O
2014	O
,	O
Flexcoin	B-General_Concept
announced	O
it	O
was	O
closing	O
its	O
doors	O
because	O
of	O
a	O
hack	O
attack	O
that	O
took	O
place	O
the	O
day	O
before	O
.	O
</s>
<s>
In	O
a	O
statement	O
that	O
once	O
occupied	O
their	O
homepage	O
they	O
announced	O
on	O
3	O
March	O
2014	O
that	O
"	O
As	O
Flexcoin	B-General_Concept
does	O
not	O
have	O
the	O
resources	O
,	O
assets	O
,	O
or	O
otherwise	O
to	O
come	O
back	O
from	O
this	O
loss	O
[	O
the	O
hack ]	O
,	O
we	O
are	O
closing	O
our	O
doors	O
immediately.	O
"	O
</s>
<s>
The	O
Slovenian	O
exchange	O
Bitstamp	B-Protocol
lost	O
bitcoin	B-Protocol
worth	O
$5.1	O
million	O
to	O
a	O
hack	O
in	O
January	O
2015	O
.	O
</s>
<s>
In	O
August	O
2016	O
,	O
hackers	O
stole	O
some	O
$72	O
million	O
in	O
customer	O
bitcoin	B-Protocol
from	O
the	O
Hong	O
Kong	O
–	O
based	O
exchange	O
Bitfinex	B-Protocol
.	O
</s>
<s>
In	O
December	O
2017	O
,	O
hackers	O
stole	O
4,700	O
bitcoins	B-Protocol
from	O
NiceHash	O
,	O
a	O
platform	O
that	O
allowed	O
users	O
to	O
sell	O
hashing	O
power	O
.	O
</s>
<s>
The	O
value	O
of	O
the	O
stolen	O
bitcoins	B-Protocol
totaled	O
about	O
$80	O
million	O
at	O
the	O
time	O
.	O
</s>
<s>
In	O
2012	O
,	O
the	O
Cryptocurrency	O
Legal	O
Advocacy	O
Group	O
(	O
CLAG	O
)	O
stressed	O
the	O
importance	O
for	O
taxpayers	O
to	O
determine	O
whether	O
taxes	O
are	O
due	O
on	O
a	O
bitcoin-related	O
transaction	O
based	O
on	O
whether	O
one	O
has	O
experienced	O
a	O
"	O
realization	O
event	O
"	O
:	O
when	O
a	O
taxpayer	O
has	O
provided	O
a	O
service	O
in	O
exchange	O
for	O
bitcoins	B-Protocol
,	O
a	O
realization	O
event	O
has	O
probably	O
occurred	O
and	O
any	O
gain	O
or	O
loss	O
would	O
likely	O
be	O
calculated	O
using	O
fair	O
market	O
values	O
for	O
the	O
service	O
provided.	O
"	O
</s>
<s>
In	O
August	O
2013	O
,	O
the	O
German	O
Finance	O
Ministry	O
characterized	O
bitcoin	B-Protocol
as	O
a	O
unit	O
of	O
account	O
,	O
usable	O
in	O
multilateral	O
clearing	O
circles	O
and	O
subject	O
to	O
capital	O
gains	O
tax	O
if	O
held	O
less	O
than	O
one	O
year	O
.	O
</s>
<s>
On	O
5	O
December	O
2013	O
,	O
the	O
People	O
's	O
Bank	O
of	O
China	O
announced	O
in	O
a	O
press	O
release	O
regarding	O
bitcoin	B-Protocol
regulation	O
that	O
whilst	O
individuals	O
in	O
China	O
are	O
permitted	O
to	O
freely	O
trade	O
and	O
exchange	O
bitcoins	B-Protocol
as	O
a	O
commodity	O
,	O
it	O
is	O
prohibited	O
for	O
Chinese	O
financial	O
banks	O
to	O
operate	O
using	O
bitcoins	B-Protocol
or	O
for	O
bitcoins	B-Protocol
to	O
be	O
used	O
as	O
legal	O
tender	O
currency	O
,	O
and	O
that	O
entities	O
dealing	O
with	O
bitcoins	B-Protocol
must	O
track	O
and	O
report	O
suspicious	O
activity	O
to	O
prevent	O
money	O
laundering	O
.	O
</s>
<s>
The	O
value	O
of	O
bitcoin	B-Protocol
dropped	O
on	O
various	O
exchanges	O
between	O
11	O
and	O
20	O
percent	O
following	O
the	O
regulation	O
announcement	O
,	O
before	O
rebounding	O
upward	O
again	O
.	O
</s>
<s>
Bitcoin	B-Protocol
's	O
blockchain	O
can	O
be	O
loaded	O
with	O
arbitrary	O
data	O
.	O
</s>
<s>
Interpol	B-Device
also	O
sent	O
out	O
an	O
alert	O
in	O
2015	O
saying	O
that	O
"	O
the	O
design	O
of	O
the	O
blockchain	O
means	O
there	O
is	O
the	O
possibility	O
of	O
malware	O
being	O
injected	O
and	O
permanently	O
hosted	O
with	O
no	O
methods	O
currently	O
available	O
to	O
wipe	O
this	O
data	O
"	O
.	O
</s>
