Brief History of Bitcoins

                        

Brief History of BitcoinsIt is quite strange to read history of an event that took place not more then a decade ago. But the journey from 1$=1,309.03Bitcoins to touching the mark of 1bitcoin=1000$+ is not a short journey lets revisit few Important events happened in this short period.

• It all started back in 2007when Satoshi Nakamoto began working on the Bitcoin concept. While he/they is/are on record as living in Japan, it is speculated that Nakamoto may be a group of people.

• August 18, 2008 Bitcoin.org is register The domain was registered at anonymousspeech.com, a site that allows users to anonymously register domain names and currently accepts Bitcoins.
• January 12, 2009
  The first transaction of Bitcoin currency, in block 170, takes place between Satoshi and Hal Finney, a developer and cryptographic activist.
  
   
•  October 5, 2009 An exchange rate is established
  New Liberty Standard publishes a Bitcoin exchange rate that establishes the value of a Bitcoin at US$1 = 1,309.03 BTC, using an equation that includes the cost of electricity to run a computer that generated Bitcoins.

• May 22, 2010
  10,000 BTC spent on pizza.
  The first, real-world transaction using Bitcoins takes place when a Jacksonville, Florida programmer, Laszlo Hanyecz, offers to pay 10,000 Bitcoins for a pizza on the Bitcoin Forum. At the time, the exchange rate put the purchase price for the pizza at around US$25.
• August 15, 2010 Exploit generates 184 billion Bitcoins
  
  A vulnerability in the Bitcoin system that causes Bitcoins to be improperly verified is discovered and exploited, resulting in the generation of 184 billion Bitcoins.
• February 9, 2011 Bitcoin reaches parity with US dollarBitcoin touches US$1.00/BTC at MtGox[Currency Exchange], reaches parity with the US dollar for the first time.
• April 16, 2011 TIME publishes article on BitcoinTIME magazinepublishes an article about Bitcoin, Online Cash Bitcoin Could Challenge Governments, Bank.
• September 3, 2012 Bitfloor hacked for 24,000 BTC
  The fourth largest US Bitcoin exchange, Bitfloor, is hacked and loses 24,000 BTC (valued at approximately US$250,000 when the theft took place), which was the majority of the on-hand Bitcoins. Compromised servers result in access to encrypted backup files of wallet keys. All exchange operations are paused.
• April 2013 Bitcoin surpasses $100
    The value of Bitcoin on MtGox and other exchanges surpasses US$100
  
  
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• November 19, 2013 Bitcoin goes above $1000
    Bitcoin price surges to a record of US$1242 after Senate hearings.

Bitcoin Mining Software

                                                   

Bitcoin Mining Software While the actual process of mining is handled by the mining hardware itself, special software is needed to connect your miners to the blockchain and your mining pool as well, if you are part of a mining pool. The software delivers the work to the miners and receives the completed work from the miners and relays that information back to the blockchain and your mining pool. The software can run on almost any operating system, such as OSX, Windows, Linux, and has even been ported to work on a Raspberry Pi with some modifications for drivers depending on your mining setup.

Not only does the software relay the input and output of your miners to the blockchain, but it also monitors them and displays general statistics such as the temperature, hashrate, fan speed, and average speed of the miner.

There are a few different types of mining software out there and each have their own advantages and disadvantages, so be sure to read up on the various mining software out there.

A few examples of mining software:

EASYMINER: A GUI based miner for Windows, Linux and Android. EasyMiner acts as a convenient wrapper for the built in CG & BFGminer softwares. It auto configures your miners and provides performance graphs to for easy visualization of your mining activity.
Download: http://www.butterflylabs.com/drivers/

BFGMINER: A modular ASIC, FPGA, GPU and CPU miner written in C, cross platform for Linux, Mac, and Windows including support for OpenWrt-capable routers.
Download: https://github.com/luke-jr/bfgminer

CGMINER: This is a multi-threaded multi-pool GPU, FPGA and ASIC miner with ATI GPU monitoring, (over)clocking and fanspeed support for bitcoin and derivative coins.
Download: https://github.com/ckolivas/cgminer

If you want to get a better idea of mining without installing any software, try Bitcoin Plus, a browser-based CPU Bitcoin miner. As a CPU miner it's not cost-efficient for serious mining, but it helps illustrate the process of pool mining.

What is bitcoin ?

What Is BitCoin ? 



   
                

 

Easy
Person to Person

Send bitcoin from your computer, tablet, smart phone or other device, to anyone, anywhere in the world, day or night.

Secure
Strong cryptography

Bitcoin verifies transactions with the same state-of-the-art encryption that is used in military and government applications.

Open
Fully decentralized

Bitcoin is open-source. Nobody owns it; the most popular client is maintained by a community of open-source developers.

Fair
Minimal Fees

Using the Bitcoin network is free, except for a voluntary fee you can use to speed up transaction processing.

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