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It has only been 12 years since Satoshi Nakamoto published a nine-pager in late October 2008 describing what could be the internet of money. Dubbed “Bitcoin: A Peer-to-Peer Electronic Cash System,” the whitepaper detailed a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without the use of a third party.
Just a few months later in early 2009, Nakamoto’s vision came to fruition. The Genesis Block was mined and the first-ever Bitcoin transaction took place. Roughly, 10 BTC were sent to renowned computer programmer Hal Finney, marking the beginning of the first decentralized financial system.
Later on, an exchange rate was established, valuing 1,309.03 BTC for $1, which helped the cryptocurrency gain traction among the developer community. As the word spread about a new form of internet money, it was only a matter of time before someone actually used it. So