Bitcoin electronic cash

Bitcoin was created in 2008 by Satoshi Nakamoto, then first mined and used as distributed ledger technology in 2009. As the network grew, the bitcoin network began to be used for payments, the original vision for bitcoin as electronic cash. May 18^th 2010, two pizza’s were purchased for 10,000 bitcoins, the value at the time was a total of just $41. That date is now known as bitcoin pizza day and at the time of this post is worth USD$137,559,150. The transaction proved that bitcoin had potential utility as a global payments system that was borderless and required no central authority given its peer-to-peer nature. In the 10 years since bitcoin pizza day, the network has continued to evolve and grow with increased merchant adoption. It is not only online marketplaces, but a growing number of bricks and mortar business now accepting bitcoin for goods and services.