In a captivating master class, Plan B’s node coordinator, Ajelex, alongside Digital Scientist Ernesto Quezada, both graduates of Cubo+, delved into the captivating history of Bitcoin. The discussion spanned the past years, illuminating pivotal moments and key figures that shaped the evolution of Bitcoin to what it is now and what will become.
The conversation commenced with an intriguing assertion by Ajelex, who posited that the roots of Bitcoin’s history extend back an astonishing 4000 years, a notion inspired by the visionary ideas of early Bitcoin pioneers. Drawing parallels with the ancient epic of Gilgamesh, dating back to 2000 BC, Ajelex highlighted how humanity’s primitive attempts at recording events mirror the fundamental concept of blockchain technology, harnessing the immutable laws of nature and physics.
Before the birth of Bitcoin, a prehistory unfolded, marked by significant milestones and the contributions of notable figures such as Adam Back, Wei Dai, and Nick Szabo, all esteemed cryptographers. Among the pivotal moments discussed were the creation of the first reusable proof of work by Hal Finney in 2004, the unveiling of the Bitcoin whitepaper on October 31st, 2008, and the historic Genesis Block mined on January 3rd, 2009, devoid of references to previous blocks.
The narrative continued with the emergence of the first Bitcoin transaction on January 11th, 2009, valued at $0, symbolizing the nascent stages of a digital revolution. Subsequent milestones, including the first recorded payment in Bitcoin in May 2010, when Laszlo Hanyecz famously purchased two pizzas for 10,000 BTC, further underscored Bitcoin’s growing significance in the realm of digital commerce.
As Bitcoin gained traction, technological advancements such as GPU mining and the advent of the first mining pool in November 2010 reshaped the landscape of cryptocurrency mining. The acceptance of Bitcoin donations by Wikileaks in 2011 signaled a pivotal moment, demonstrating the currency’s utility in circumventing traditional financial barriers.
The evolution of Bitcoin continued with the introduction of ASIC miners in 2013, revolutionizing mining efficiency and profitability. However, challenges such as the Mt. Gox hack in February 2014 and the subsequent Blocksize War underscored the volatile nature of cryptocurrency markets.
Amidst these challenges, innovations like the Lightning Network in 2015 offered new avenues for scalability and transaction efficiency. The dialogue concluded with a reflection on Bitcoin’s historic adoption as legal tender in El Salvador on September 7, 2021, highlighting the empowerment of a new generation of Bitcoin developers.
Ajelex and Ernesto emphasized the pivotal role of education and historical awareness in guiding the future of Bitcoin, empowering the new generation to navigate the complexities of this digital era. As the conversation drew to a close, the message was clear: the legacy of Bitcoin is not just a chapter in history but a living narrative, shaped by those who dare to pioneer its path forward.