The First Independent Electronic-Cash System
The first ever crypto currency is typically considered to be Bitcoin, founded in 2009. It’s origin can’t be traced back to a single individual, but it can be traced back to an alias by the name of Satoshi Nakamoto. This person (or group) expressed their inspiration for creating a new currency when a man by the name of Bernard von NotHaus founded a private currency, The Liberty Dollar, and was convicted of counterfeiting, fraud and conspiracy (a 22-year sentence in federal prison) as a result. The sentencing most likely led Satoshi toward publishing his (or their) crypto invention anonymously and then vanishing forever. Although it would be nice to put a face to such an immense invention, it is completely irrelevant to the functioning of bitcoin because its blueprint is widely available.
Bitcoin is digital currency and computer software. Bitcoin with a capitalized ‘B’ is the shared code that creates a global payment network using computers connected to the internet. The bitcoins (lowercase ‘b’) are virtual currency that is created, stored and exchanged on that network. The primary distinction between this currency, and one born from a banker, is that this one is founded in mathematical truths. That is, Bitcoin is an open-source software protocol, it is fully accessible to everyone and places its monetary power in the hands of the people as opposed to a singular group or organization. One of the main reasons why bitcoin is so successful is that it managed to birth a decentralized currency capable of much more efficient and cost effective transactions.
Keep in mind there are many crypto currencies on the market and If you have any questions on how to get started on mining them, please reach out to us through our contact page. We will supply you with the miner that best fits your budget and reflects your financial goals! READ MORE