This article has been translated from English to Gen Z Slang.
What is Bitcoin? 🤔
Well, that depends on who ya chat with. If you hit up Warren Buffet, he'd be all like, it's "probably rat poison squared." 😅 (But then he'd go invest in a digital bank ‘cause why not confuse everyone? 🙃)
Unless you've literally been living under a rock or deep-dived into a Netflix marathon 24/7, you've probs heard about bitcoin, fam. 🤓
Bitcoin be the OG crypto, y'all! 💥
The starter pack, the real MVP. 🏆
Bitcoin's a new type of "cash money," a digital flex designed to let you handle your dolla bills online without the bankies gettin’ in the way. 🤑
Unlike them basic fiat coins like the U.S. dollar or the British pound, Bitcoin’s not vibing with any central bank or government. Nah, the rules are all written in software, fam. 🔥
Back in '08, Bitcoin was cooked up by this mysterious ghost named, "Satoshi Nakamoto". 👻
Fast forward to today, their real identity? Total mystery. Like, who even is this Satoshi Nakamoto? 🤷♂️
Hey, since he's the Bitcoin daddy, I also dub thee the "Bitcoin God". 🙌
The Bitcoin God? Could be anyone, from a lone genius to a squad or even an alien on redbull! 🚀
But here's what we do know - Halloween '08, our mystery friend, Satoshi, drops a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System.” 🎃👻 (You can snag a PDF or check it here.)
This 12-page manifesto summarized the masterpiece. The whitepaper was geeky vibes, totally explaining how this coin would rock the world. 🌍
A whitepaper is basically a deep dive doc from the builders of a crypto project. It spills the tea on their purpose and all the tech deets. 🧐
Early 2009, first Bitcoin software v0.1 drops like it’s hot in some obscure mailing list. 📨
The code runs the Bitcoin show, creating bitcoin with a strong rule — max 21 million coins ever. 💸 Bitcoin magic is all about "mining," using fancy computer gear to win some crazy guessing game. The winner gets fresh new bitcoins! 🎰Already got over 19 million mined! Last bitcoin's set to pop in 2140. ⏳
Unlike fiat currencies that get cranked out on a whim, Bitcoin's limited edition baby. 🔥
Peeps who vibe with Bitcoin think the rarity = value, for real. 💯
Satoshi Nakamoto made Bitcoin’s source code open, basically telling other nerds to play with it and level up Bitcoin. 🖥️🎮
Open source software? It’s code that’s free and out there for anyone to see and tweak. Total geek paradise. 🤓
Over time, original code got buffed by devs worldwide, kind of like how peeps update Wikipedia just because they're nice. 📝
Then, late April 2011, our bro Satoshi sends a developer a short email like, "Yo, I'm out! ✌️” JK, it was more like, "I’ve moved on to other things." Then, poof, gone forever. 🚶♂️💨
And then it was fam, donezo. ✨
Wait. For real tho. Satoshi straight dipped?! 😲
For sure.
Satoshi Nakamoto just pulled a total ghost on the Bitcoin peeps! 👻
Can’t speak on the ghost feels but some of y'all feel me and it’s rough. 🤷♀️💔
But no worries, even without the OG, Bitcoin didn’t crash and burn. 🚀
More than a decade later, Bitcoin’s still crushing it worldwide, letting people trade and do their thing. 🌍✨
The first-ever exchange rate for bitcoin was October 2009, fam. $1 got you 1,309 bitcoins! Crazy, right? 😮
By February 2011, Bitcoin was same-same with the U.S. dollar: $1 = 1 bitcoin. ⚖️
Confidence in bitcoin soared, demand shot up, and the price tagged along for the hype ride. 🎢
2013 rolled in, taking bitcoin from $13 to $1,157! That's an epic 8,800% level-up! 💥
In 2017, Bitcoin ditched "underground" status - price went $1,000 to almost hit $20,000...then it played limbo and crashed, hard. 📉
But lemme tell ya, Bitcoin proved it’s a tough cookie. 🍪
By November 2021, Bitcoin flexed with an all-time high, peaking over $68,000. 💎🙌
Then, it 'YOLOed' down to below $16,000, only to boomerang back up in March 2024, blasting over $75,000! 🤑
A few months later, after Trump snagged the U.S. presidential win, crypto fever was so real, Bitcoin soared above $90,000! 🚀💰
And then on December 4, 2024, Bitcoin breezed past the legendary $100,000 line! 🎯✨
To wrap it up, peep these dope price milestone moments for Bitcoin over the years:
- February 10, 2011: $1 💵
- March 31, 2013: $100 💯
- November 28, 2013: $1,000 🤑
- November 29, 2017: $10,000 💸
- December 04, 2024: $100,000 💎
The wildest bit? Our boi Satoshi still sits on more than 1 milly bitcoins! While the Bitcoin God’s swimming in coins like Scrooge McDuck, getting stacks wasn’t the plan with Bitcoin creation. 💰🌊
In the next sesh, we're diving into why Bitcoin was actually brought to life. Stay tuned! 🤓🌐