Timeline of Bitcoin

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The timeline currently offers focused coverage of the period until February 2021. It is likely to miss important developments outside this period (particularly after this period) though it may have a few events from after this period.

This is a timeline of Bitcoin, attempting to describe the evolution of the cryptocurrency and its influence around the world. All Bitcoin Core version updates are included.

Sample questions

The following are some interesting questions that can be answered by reading this timeline:

  • What are some significant events prior to the development of Bitcoin?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Prelude".
    • You will see significant events like early key publications and technologies.
  • What are some significant early events related to the development of Bitcoin?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Early development".
    • You will see early events starting from the first codings by Satoshi Nakamoto.
  • How did Bitcoin valuation evolve over time?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Valuation".
    • See the Visual data section which provides graphs illustrating the valuation of Bitcoin.
  • What are some milestone transactions involving Bitcoin?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Milestone transaction".
    • You will discover some historic events, like two pizzas having been ordered in exchange for 10,000 Bitcoins in 2010.
  • What are some Bitcoin acquisitions of historical importance?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Notable acquisition"
    • You will see sizable and/or early acquisitions by some notable people now commonly associated with the cryptocurrency.
  • What are some events describing the adoption of Bitcoin?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Currency adoption"
    • You will see some notable examples of Bitcoin adoption as a payment method, as well as an investment and medium of exchange.
  • What are some notable events related to Bitcoin mining?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Mining".
    • You will see events related to Bitcoin halving, mining farms, companies specialized in bitcoin mining, and several milestone figures.
  • What are some notable organizations related to Bitcoin?
    • For Bitcoin exchange, sort the full timeline by "Event type" and look for the group of rows with value "Organization (exchange company)".
    • For other organizations, sort the full timeline by "Event type" and look for the group of rows with value "Organization".
  • What are the several warnings on the use of Bitcoin issued by national authorities around the world?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Official response (warning)".
    • You will see events describing declarations by authorities against the use of Bitcoin and cryptocurrencies in general, due to several reasons.
  • What are the several regulations of Bitcoin issued by national authorities around the world?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Official response (regulation)".
    • You will see a diverse list of events related to positive responses by authorities, like the adoption as payment for administrative costs in Switzerland to regulations in other countries aimed at legalizing transactions.
  • What are the several negative reactions by national authorities around the world?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Official response (negative)".
    • You will see mostly events describing non recognitions by authorities to complete bans?
  • What are some historic heists and hacks involving Bitcoins?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Security".
    • You will discover some important heists, like the Mt. Gox hack, Bitcoin's biggest heist to date.
  • What are some notable Bitcoin forks?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Bitcoin fork".
    • You will see a list of major forks.
  • What are some important papers, posts, and publications related to Bitcoin?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Literature".
    • You will see important contributions, including publications by Satoshi Nakamoto.
  • What are some events describing web contribution of information on about Bitcoin?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Content creation".
    • You will mostly see some notable forums on reddit.
  • Other events are described under the following types: "Blockchain company", "Broadcasting", "Corporation policy", "Education", "Fraud case", "Legal", "Market capitalization", "Notable case", "Notable people", "Notable prediction", "Research", "Service shutdown", and "Website launch".

Big picture

Summary by year

Time period Development summary More details
1976–2002 Background research The key advances in public-key cryptography, proof-of-work systems, etc., are made during this period.
2003–2007 Lull? (This is the period during which anyone with sufficient knowledge and insight could have invented Bitcoin, but nobody did.)
2008–2010 Early days of Bitcoin Satoshi Nakamoto's white paper is published, the Bitcoin client is released, and some "firsts" take place, like the first trade for fiat money and first trade for a good. Satoshi Nakamoto is still around during this period.
2011–2012 Continued development Satoshi Nakamoto disappears, but Bitcoin growth continues. Silk Road, BitPay, and Coinbase all launch during this period.
2013 First crash The price of one Bitcoin reaches US$1,000 for the first time. Shortly after, the price quickly begins to decline, plummetting to around U$300. It would take more than two years before the price reached $1,000 again.[1]
2014–2016 Temporal stall In January 2014, Mt.Gox, the world’s largest Bitcoin exchange, goes offline, and the owners lose 850,000 Bitcoins.[1] This is considered the biggest Bitcoin heist in history. Quickly the Bitcoin price falls below $1,000 around the time, and would struggle below the key level for a few years.[2] 2014 is characterized by mainstream investors discovering their appetite for bitcoin startups.[3]
2017 Mainstream popularity Bitcoin sees a roughly 20-fold rise since the beginning of the year, growing also exponentially in popularity. Throughout 2017, Bitcoin value would grow from US$900 to almost US$20,000.
2018 Bitcoin crash In January, the Great crypto crash occurs. After an unprecedented boom in 2017, the price of Bitcoin falls by about 65 percent during the month from 6 January to 6 February. In late March, Facebook, Google, and Twitter ban advertisements for initial coin offerings (ICO) and token sales.[4] The price steadily drops all year.[2] By November 15, Bitcoin's market capitalization falls below US$100 billion for the first time since October 2017 and the price of Bitcoin falls to $5,500.[5][6]
2019 Resurgence Bitcoin sees a new resurgence in price and volume, rising to around US$10,000. As of the end of 2019, the price of one Bitcoin is of around US$7,250.
2020–2021 New heights Bitcoin valuation surpasses the 2017 bubble highest value. Increasing institutional adoption is experienced as the first real signs banks, money managers, insurance firms and companies start to embrace fast-growing markets for cryptocurrencies and digital assets.[7]

Summary by country

Key country Summary
United States The United States is home to most of the world's largest Bitcoin companies, as well as most crypto endeavors and activities.[8][9] There is a large number of exchanges, trading platforms, funds, crypto mining facilities, and blockchain-oriented projects.[8] As of February 2019, This country leads with over 2,625 nodes, followed by Germany and France with 2016 and 698 respectively.[10]
China As of June 2018, financial institutions are not allowed to facilitate Bitcoin transactions.[11] The country leads in digital trading, and its exchanges have one of the biggest volumes of Bitcoin being traded on a daily basis.[8]
Japan As of 2020, Japan is one of the few countries that recognize cryptocurrencies as a legitimate means of payment. The country has one of the most effective regulatory environments in the world related to blockchain technology and virtual currencies. After the United States Dollar, Japan is also the country with the second-largest trading volume against Bitcoin around the world.[8]
South Korea South Korea accounts for almost 10% of all the Bitcoin traded around the world, after the United States Dollar and the Japanese Yen. The country hosts a large amount of exchanges and crypto businesses and there is a big interest in trading and using cryptocurrencies among the population.[8]
Switzerland Switzerland aims to become a cryptocurrency and blockchain hub. Local regulators have a very open mind towards digital assets.[8] It is possible to pay taxes with Bitcoin in some districts of the country. However, there is currently no form of "state-backed" cryptocurrency.[12]



Full timeline

Year Month and date Event type Details Country/location
1976 Prelude The first public work on public-key cryptography is published.[13] Public-key cryptography is used in Bitcoin for specifying ownership of coins.[14] United States
1979 Prelude The Merkle tree is patented by Ralph Merkle.[13] United States
1991 Prelude Haber and Stornetta's paper on linked timestamping is published.[15]:15 United States
1992–1993 Prelude A proof-of-work system for email spam is presented.[13]
1997 March 28 Prelude Adam Back proposes Hashcash on the Cypherpunks mailing list.[13][16]
1998 Prelude Wei Dai's b-money paper is published.[13]
1998 Prelude American computer scientist Nick Szabo claims to have had the idea of Bitgold as early as this year. He would only blog about the idea in 2005.[15]:17 United States
1999 Prelude Sander and Ta-Shma's anonymous electronic cash system is published. "Satoshi could have integrated some anonymity insights of this approach into Bitcoin, but it is unclear whether he was not aware of this work when he released Bitcoin, whether he was familiar with it but decided not to use these features because of their high computational cost, or whether he consciously decided to leave Bitcoin pseudonymous."[17]:165–167
2001 Prelude SHA-2 is first published.[13] Of the SHA-2 family of hash functions, SHA-256 would be used in Bitcoin for "integrity, block-chaining, and the hashcash cost-function".[14]
2002 August 1 Prelude Adam Back's Hashcash paper is published. This is the paper cited in Satoshi Nakamoto's white paper.[18] The paper also happens to be the most-recently-published reference in Satoshi Nakamoto's white paper.[19] United Kingdom
2002 December 9–10 Prelude An entity x posts to the alt.internet.p2p and uk.finance newsgroups an "idea of a future with virtual peer to peer banking". This entity is speculated to be Satoshi Nakamoto.[20][21]
2007 May Early development Satoshi Nakamoto claims he starts coding Bitcoin around this time.[15]:18
2008 August Early development Satoshi Nakamoto emails Adam Back, the creator of hashcash, "asking him to look at a short paper describing something called Bitcoin".[22]
2008 August 18 Early development The bitcoin.org domain name is registered on this day.[13]
2008 August 22 Notable people Satoshi Nakamoto emails Wei Dai. In the email, Nakamoto links to a "pre-release draft" of the white paper and asks when Dai's b-money paper was published, claiming that he wants to know this so he can cite the paper correctly in his own.[23]
2008 October 3 Notable people A version of Satoshi Nakamoto's white paper exists from this day.[23][24]
2008 November 1 Literature The first public version of Satoshi Nakamoto's white paper, titled "Bitcoin: A Peer-to-Peer Electronic Cash System", is published.[13][25] Depending on the time zone, this is October 31.[26]
2008 November 9 Early development The Bitcoin project is registered on SourceForge.[26][27]
2008 November–December Notable people Satoshi Nakamoto sends Hal Finney "an early, beta version [of Bitcoin] for testing". "In test runs in November and December they worked out some of the early kinks."[22]
2009 January 3 Early development The Bitcoin genesis block is established.[28][26]
2009 January 12 Milestone transaction The first Bitcoin transaction takes place, from Satoshi Nakamoto to Hal Finney.[29]
2009 March 8 Content creation The article Bitcoin is created on English Wikipedia.[30]
2009 May Early development Martti Malmi emails Satoshi Nakamoto for the first time, expressing willingness to help with Bitcoin development.[22]
2009 August 29 Content creation The first revision in the Bitcoin Git repository is made on this day. However this commit is converted from the Subversion revision control system.[13][31]
2009 October 5 Early development BTC–USD exchange rates are first posted by NewLibertyStandard, where $1 is worth 1,309.03 BTC.[26] "During 2009 my exchange rate was calculated by dividing $1.00 by the average amount of electricity required to run a computer with high CPU for a year, 1331.5 kWh, multiplied by […] the average residential cost of electricity in the United States for the previous year, $0.1136, divided by 12 months divided by the number of bitcoins generated by my computer over the past 30 days."[32]
2009 October 9–12 Content creation The channel #bitcoin-dev is apparently registered on the Freenode IRC network around this time. The two sources documenting this have conflicting dates, neither provides a source, and it's unclear how to tell when a channel was registered.[26][33] Discussion about chat logs would only come almost a year later.[34]
2009 October 12 Milestone transaction The first trade of Bitcoin for fiat money takes place. Martti Malmi (Sirius) sells 5,050 BTC to NewLibertyStandard for $5.02.[29][35]
2009 November 22 Content creation Bitcoin Talk, a discussion forum about Bitcoin, is created.[36]
2009 December 30 The first difficulty increase occurs, from 1 to 1.18.[37][38][26]
2010 February 6 Organization (exchange company) An early version of Bitcoin Market begins operating.[39]
2010 March 17 Organization (exchange company) BitcoinMarket.com starts operating as the first bitcoin exchange. The price per Bitcoin is of around US$0.003 at the time.[40]
2010 April–May Mining Laszlo Hanecz (also "Hanyecz") begins mining bitcoin with a GPU around this time. On May 17 he wins twenty-eight blocks; these wins give him fourteen hundred new coins that day.[22] United States
2010 May 22 Milestone transaction Laszlo Hanyecz (laszlo) reports that he has traded 10,000 of his bitcoins for two pizzas ordered by Jeremy Sturdivant (jercos). This transaction is the first documented purchase of a good using bitcoin.[41][42][43] United States
2010 July Organization (exchange company) Ross Ulbricht begins the development of Silk Road.[22]
2010 July 11 Currency adoption Release of Bitcoin version 0.3 is posted to Slashdot. This is the result of a "campaign to get Bitcoin real press coverage". With the increase in traffic from Slashdot, the Bitcoin website temporarily goes down. Despite "the derogatory comments that showed up under the Slashdot item", this brings in a bunch of new Bitcoin users: "The number of downloads would jump from around three thousand in June to over twenty thousand in July. The day after the Slashdot piece appeared, Gavin Andresen's Bitcoin faucet gave away 5,000 Bitcoins and was running empty."[22][44]
2010 July 18 Organization (exchange company) Mt. Gox, a bitcoin exchange founded by Jed McCaleb, is announced.[45][46] McCaleb had heard about Bitcoin from the Slashdot post several days earlier.[22]
2010 July 18 Mining ArtForz generates "his first block after establishing his personal OpenCL GPU hash farm". Apparently ArtForz announces this date on Bitcoin Talk, but neither source links to it, and a quick search didn't turn it up.[26][47]
2010 July (late) Content creation Martti Malmi launches the non-English Bitcoin forum, in Russian.[22]
2010 September 9 Content creation The main Bitcoin subreddit, r/Bitcoin, is created. As of March 28, 2020 it has over 1,3 million members.[48]
2010 October 17 Content creation The Freenode IRC channel #bitcoin-otc is established. (Citation gives this date but does not provide a source.)[26]
2010 November 6 Market capitalization Bitcoin market capitalization passes $1 million.[26][49]
2010 December 12 Literature The last post from the "satoshi" account on Bitcoin Talk is from this day.[50]
2010 December 19 Notable people American software developer Gavin Andresen announces that he is stepping in to do "more active project management for bitcoin".[51][52] United States
2011 Physical bitcoin Casascius coins are first created.[53]
2011 January 6 Milestone transaction First documented payment for work using Bitcoin takes place around this time.[29][54]
2011 February Exchange company Silk Road, the first modern darknet market, launches.[55] Silk Road is the first darknet market to use both Tor and Bitcoin escrow.
2011 April 16 Literature Jerry Brito's "Online Cash Bitcoin Could Challenge Governments, Banks" is published on Time.[56] Nathaniel Popper calls this "the first mainstream news coverage for Bitcoin".[22] United States
2011 April (late) – May (early) Notable people The final emails from Satoshi Nakamoto are from this period.[22]
2011 May Payment service provider BitPay, a Bitcoin payment service provider, is founded.[57] United States
2011 May 9 Physical bitcoin The launch of Bitbills is announced. Bitbills are the first physical incarnation of bitcoins, coming in plastic cards that contain the cryptographic information.[58][59]
2011 May 20 Content creation The subreddit r/btc is created. As of March 28, 2020 it has 289,000 members.[60]
2011 June 1 Literature The Gawker piece on Silk Road is published.[61][62]
2011 June 1 Exchange company BTCC launches as a bitcoin trading platform that enables its users to buy and sell bitcoins in the native Chinese CNY currency.[63]
2011 June 14 Notable people American software developer Gavin Andresen gives a talk on Bitcoin at the CIA.[22][64][65] United States
2011 June 15 Content creation The Bitcoin mining subreddit, r/BitcoinMining, is created. As of March 28, 2020 it has 37,300 members.[66]
2011 June 19 Security Mt. Gox is hacked, causing the price of bitcoin to drop "from $17 to 1 penny in less than an hour".[22][67]
2011 July 26 Security The Polish exchange site Bitomat temporarily goes offline.[68] It would later be announced that the private keys belonging to customers' Bitcoin addresses were accidentally deleted.[22] Poland
2011 July 28 Exchange company Kraken launches in the United States.[69][70] United States
2011 July 29 Service shutdown The bitcoin wallet service MyBitcoin shuts down. "The founder of the site, a man who called himself Tom Williams, was unresponsive and soon enough all the wallets were frozen."[22][71][72]
2011 July Security The operator of Bitomat, the third-largest bitcoin exchange, announces having lost access to his wallet.dat file with about 17,000 bitcoins (roughly equivalent to US$220,000 at that time). He announces that he would sell the service for the missing amount, aiming to use funds from the sale to refund his customers.[73]
2011 August 19 Early development The first Bitcoin Improvement Proposal (BIP) is submitted, explaining what a BIP is.[74][75]
2011 August (late) Conference The Bitcoin Conference & World Expo NYC 2011, organized by Bruce Wagner of The Bitcoin Show, takes place.[22] United States
2011 August 30 Organization (exchange company) Blockchain.com launches.[76][77]
2011 August Organization (exchange company) Bitcoin exchange Bitstamp is founded.[78][79]
2011  ? Notable acquisition Roger Ver starts investing in Bitcoin shares in this year.[80]
2012 April 24 Website launch Satoshi Dice (now called MegaDice), a betting site, is announced on Bitcoin Talk by Erik Voorhees.[81][82]
2012 May 30 Content creation The Bitcoin Magazine subreddit, r/BitcoinMagazine, is created. As of March 28, 2020 it has 998 subscribers.[83]
2012 June Organization (exchange company) Coinbase, a digital asset exchange company that operates exchanges of Bitcoin (among other digital currencies), is founded.[84][85] United States
2012 June 15 Organization (exchange company) LocalBitcoins is founded.[86]
2012 September 27 Organization The Bitcoin Foundation is founded.[87][62] United States
2012 November 15 Milestone transaction WordPress.com begins accepting bitcoins for the purchase of upgrades.[29][88]
2012 November 23 Official response (negative) The Central Bank of Norway releases per ethical guidelines indicating that it does not recognize cryptocurrencies, but it also does not prohibit its staff from owning or investing in them.[11] Norway
2012 November 29 Mining The first Bitcoin halving event occurs at block height 210,000.[89] From then on, the amount of new Bitcoins issued every 10 minutes drops from 50 bitcoins to 25.[90]
2012 December Organization (exchange company) Cryptocurrency exchange Bitfinex launches.[91]
2013 Mining The Bitcoin startup 21 is founded as 21e6. The company produces specialized bitcoin mining chips and also works toward the mass adoption of bitcoin by "building bitcoin products for the general public".[92][22]
2013 January 31 Mining The first application-specific integrated circuits (ASICs) designed for Bitcoin mining are shipped.[62]
2013 February 14 Milestone transaction The social news aggregation website Reddit begins accepting bitcoins for the purchase of reddit gold (reddit's premium membership).[29][93][94]
2013 February 15 Content creation The subreddit r/Jobs4Bitcoins is created. As of March 28, 2020 it has 27,100 members.[95]
2013 March 2 Organization CloudHashing is founded. It is a bitcoin mining-as-a-service company offering cloud mining contracts.[96]
2013 March 3 Conference A secretive technology conference for "tech-industry power players" takes place. At the conference, Wences Casares introduces or explains Bitcoin to business leaders including Reid Hoffman, Michael Ovitz, and Henry Blodget.[22][97]
2013 March 6 Content creation The subreddit r/BitcoinBeginners is created. As of March 28, 2020 it has 83,300 members.[98]
2013 March 12 Bitcoin fork An unexpected fork of the Bitcoin blockchain occurs due to a newer version of the Bitcoin client accepting a particular block that older versions of the client reject.[99][100][101]
2013 March 18 Official response The Financial Crimes Enforcement Network (FinCEN) releases guidance on using virtual currencies.[102][62]
2013 March 28 Market capitalization Bitcoin market capitalization passes $1 billion.[103][26]
2013 April 11 Content creation The subreddit r/BitcoinMarkets is created. As of March 28, 2020 it has 148,000 members.[104]
2013 April Notable acquisition American entrepreneurs Tyler and Cameron Winklevoss announce having acquired US$11 million worth of Bitcoins.[105][106] United States
2013 May 7 Currency adoption Coinbase announces "the largest funding round to date for a Bitcoin startup, a $5 million investment led by Union Square Ventures".[107][62]
2013 May 14 Legal The Dwolla account belonging to Mt. Gox is frozen due to a seizure warrant issued by the Department of Homeland Security.[108][109][62]
2013 May 17 Conference The first official Bitcoin conference takes place in San Jose.[62]
2013 May Organization CoinDesk launches. It is a news site specializing in Bitcoin and digital currencies.
2013  ? Organization Independent media platform cointelegraph.com launches.[110][111]
2013 July 23 Legal Trendon T. Shavers is "sued by the Securities and Exchange Commission on Tuesday and accused of running a fund that collected bitcoins from investors, promising them 7 percent weekly returns".[112]
2013 July 30 Organization BitGive Foundation is founded.[113]
2013 July Organization Bitcoin mining pool Ghash.io starts operating. Within a year, this mining pool would contribute about one-third of the overall hashing power out of the total.[114]
2013 August Official response (regulation) The German Finance Ministry characterizes Bitcoin as a unit of account,[115] usable in multilateral clearing circles and subject to capital gains tax if held less than one year.[116] Germany
2013 September 26 Currency adoption SecondMarket begins raising money for the Bitcoin Investment Trust, an investment fund holding only bitcoins.[117] United States
2013 September Notable case The FBI takes the notorious “dark web drug bazaar” Silk Road and confiscates 144,000 Bitcoins owned by the website operator.[106] United States
2013 September 25 Organization Barry Silbert founds Grayscale Bitcoin Trust (BGTC), now considered a traditional investment trust.[80] United States
2013 October 29 Technology The first Bitcoin ATM in the world opens in Vancouver, Canada.[118] Canada
2013 November 1 Literature The initial version of "Majority is not Enough: Bitcoin Mining is Vulnerable" by Eyal and Sirer is uploaded to the preprint repository arXiv.[119] The paper is announced on the authors' blog on November 4.[120] The paper receives coverage on Vice,[121] Bitcoin Magazine,[122] and Bitcoin Talk.[123][62]
2013 November 18 Official response (regulation) United States federal officials indicate at a Senate that digital currency networks offer real benefits for the financial system even as they acknowledge that new forms of digital money have provided avenues for money laundering and illegal activity.[124] United States
2013 November 20 Milestone transaction The University of Nicosia in Cyprus becomes the first university to accept payment for tuition in bitcoin.[62][125][126] Cyprus
2013 November Official response (warning) The National Bank of Slovakia issues a warning to inform the general public that virtual currencies are not national currencies and that unauthorized currency production constitutes a criminal offense.[11] Slovakia
2013 December 3 Official response (warning) Chinese regulators jointly issue a notice warning the public about the risks of bitcoin. The circular defines Bitcoin as “by nature a special virtual commodity,” which “does not have equal legal status as currencies” and “cannot and should not be circulated in the market as a currency.”[11] China
2013 December 19 Official response (warning) The Lebanese Central Bank issues a notice to the country’s banks and financial institutions warning them of the dangers of using cybercurrencies, especially bitcoin.[11] Lebanon
2013 December Official response (warning) The People’s Bank of China and four other financial regulators issue a joint notice outlining the risks associated with bitcoin. The Chinese Government states that it is not a currency, and prohibits banks and other financial institutes from trading in it. However, it acknowledges the cryptocurrency as a “commodity traded online” and allows the public to buy and sell it as they please, with its only proviso being that they do so at their own risk.[127] China
2013 December Official response (negative) The Danish Financial Supervisory Authority issues a statement rejecting the bitcoin as a currency and stating that it will not regulate bitcoin use.[11] Denmark
2013 December Official response (negative) The French Central Bank publishes a report stating that bitcoin cannot be considered a real currency or means of payment under current French law.[11] France
2013 December Official response (warning) The Norwegian Financial Supervisory Authority issues a warning against cryptocurrencies, comming as a result of warnings on the risk of use of cryptocurrencies by the European Supervisory Authority, ESMA.[11] Norway
2014 January 2 Official response (negative) The Central Bank of Malaysia issues a statement saying that “The Bitcoin is not recognized as legal tender in Malaysia. The Central Bank does not regulate the operations of Bitcoin. The public is therefore advised to be cautious of the risks associated with the usage of such digital currency.”[11] Malaysia
2014 January 9 Milestone transaction Overstock.com becomes the first major online retailer to accept payments in bitcoin.[128][62] In December 2013 the company had announced that it was preparing to accept bitcoin.[129] United States
2014 January 9 Organization (exchange company) BitFlyer is founded in Japan.[130] Japan
2014 January 26 Legal Charlie Shrem is arrested. He is accused of using his company, BitInstant, to "knowingly convert money into virtual currency for people interested in buying narcotics on the Silk Road site" and of buying drugs on Silk Road.[131] United States
2014 January Official response (warning) The Belgian National Bank and the Financial Services and Markets Authority issue a joint press release warning consumers about the risks of cryptocurrencies.[11] Belgium
2014 February 7 Security The Bitcoin exchange Mt. Gox halts all bitcoin withdrawals due to insolvency after an apparently undetected theft that had been occurring since 2011.[132] By the end of the month, Mt. Gox would file for bankruptcy protection.[67]
2014 February 10 Valuation A flash crash occurs on the BTC-e exchange.[133]
2014 February 19 Official response (warning) The Bank of Israel and several Israeli regulatory agencies issue a statement warning the public against dealing in virtual currencies. The warning lays out the dangers associated with trading in virtual currencies, including fraud, money laundering, and financing of terrorism, among others.[11] Israel
2014 February Official response (warning) The Central Bank of Jordan (CBJ) warns the public against the use of Bitcoin.[11] Jordan
2014 March 25 Official response (regulation) In its first substantive ruling on cryptocurrencies, the United States Internal Revenue Service states that Bitcoin will be treated as property for tax purposes.[134][135] United States
2014 March Organization Xapo is founded by Argentinian entrepreneur Wences Casares. Based in Hong Kong, the company provides a Bitcoin wallet combined with a cold storage vault and a Bitcoin-based debit card.[136][137][138]
2014 May 15 Security The DOS Stoned incident occurs, when the signature of the Stoned virus is inserted into the Bitcoin blockchain, causing Microsoft Security Essentials to recognize copies of the blockchain as the virus, prompting it to remove the file in question, and subsequently forcing the node to reload the block chain from that point, continuing the cycle.[139][140].[141]
2014 June 30 Notable acquisition American venture capitalist Timothy Draper buys 30,000 bitcoins at a value of US$19.4 million (price per coin: $647).[142] United States
2014 August 11 Official response (negative) The United States Consumer Financial Protection Bureau begins taking complaints about Bitcoin.[143][144] United States
2014 August Technology The Bitcoin blockchain file size, containing records of all transactions that have occurred on the network, reaches 20GB (gigabytes).[145]
2014 August Official response (negative) The Central Bank of Iceland announces that bitcoin is not a recognized currency and even if it was, purchases of bitcoins would still be illegal as such purchases would violate the foreign transactions restrictions in place.[11] Iceland
2014 August Organization (exchange company) Bitcoin wallet and exchange service Coincheck launches.[146] Japan
2014 June Official response (regulation) Canadian law is enacted as the world’s first national law on digital currencies, and the world’s first treatment in law of digital currency financial transactions under national anti-money laundering law. The new law treats virtual currencies, including Bitcoin, as “money service businesses” for the purposes of the anti-money laundering law.[11] Canada
2014 September 18 Research Coin Center, a non-profit group focused on cryptocurrency research and advocacy, is established.[147]
2014 September 23 Notable prediction Tim Draper predicts that 1 Bitcoin share would reach 10,000 dollars by 2017. His prediction would come true and on 29 November 2017 the price of a Bitcoin share would cross 10,000 U.S dollars.[80]
2014 October 2 Official response (warning) The National Bank of Serbia makes announcement clarifying that “anyone investing in Bitcoins or engaging in any other activity involving virtual currencies shall do so at their own liability, bearing all financial risks and risks in terms of noncompliance with regulations governing foreign exchange operations, taxation, trade, etc.”[11] Serbia
2014 October 10 Education American documentary film The Rise and Rise of Bitcoin is released. The film interviews multiple companies and people that have played important roles in the expansion of Bitcoin.[148][149] United States
2014 November Official response (warning) The Central Bank of Montenegro issues a warning saying that individuals may own Bitcoins at their own risk, although virtual currencies are not legal tender in the country.[11] Montenegro
2014 December 9 Notable acquisition SecondMarkets, an exchange started by Barry Silbert, buys 48,000 bitcoins at a value of US$18.1 million (price per coin: $378).[142] United States
2014 December Official response (negative) The South African Reserve Bank (SARB) issues a position paper on virtual currencies stating that only the SARB may issue legal tender and that decentralized convertible virtual currencies (DCVCs), including Bitcoin and Litecoin, are not legal tender in South Africa.[11] South Africa
2014 December Literature Greek-British Bitcoin advocate Andreas Antonopoulos publishes Mastering Bitcoin: Unlocking Digital Cryptocurrencies, which treats about decentralized digital money.[150] United Kingdom
2014 December Notable acquisition American entrepreneur Barry Silbert acquires 48,000 Bitcoins at an auction.[106][151] United States
2015 February Technology Joseph Poon and Thaddeus Dryja publish a draft of the Lightning Network white paper.[152][153]
2015 June 4 Official response (negative) Coinbase suspends operations in Wyoming due to a regulatory legislation.[154]
2015 August 8 Official response (regulation) The BitLicense, a business license for virtual currency activities, comes into effect in New York. The regulation causes numerous Bitcoin companies to suspend operations in New York.[155] United States
2015 August 15 Bitcoin fork Bitcoin XT is initially released.[156]
2015 October 8 Exchange company Gemini, the digital currency exchange started by the Winklevoss twins, begins trading.[157]
2015 October 22 Official response (regulation) The European Court of Justice states that transactions to exchange a traditional currency for bitcoin or other virtual currencies and vice versa constitute the supply of services for consideration, but fall under the exemption from value-added tax (VAT). Buying or selling bitcoin is therefore exempt from VAT in all EU Member States.[11] European Union
2015 October Blockchain company Bitwala is founded in Germany as a blockchain banking service.[158] Germany
2015 December 16 Official response (regulation) A working group under the Financial System Council in Japan compiles a draft proposal on regulations for virtual currencies that are traded on the Internet.[159] Japan
2015 December Bitcoin fork Bitcoin Unlimited is created, giving users the freedom to choose their preferred block size and find the limit with a majority consensus. This allows them to track the largest proof-of-work, irrespective of its block size.[160]
2015 December Official response (negative) The Central Bank of Kenya issues a public notice stating that virtual currencies are not legal tender and remain unregulated in Kenya, which means that “no protection exists in the event that the platform that exchanges or holds the virtual currency fails or goes out of business.”[11] Kenya
2016 February 10 Bitcoin fork Bitcoin Classic is released.[161][162][163]
2016 June 11 Market capitalization Bitcoin market capitalization reaches US$ 10 billion.[164]
2016 July 10 Mining The second Bitcoin halving event occurs at block height 420,000.[89] The amount of new Bitcoins issued every 10 minutes drops from 25 bitcoins to 12.5.[90]
2016 August 2 Security The Bitfinex hack is first announced.[165]
2016 September Official response (regulation) A Ministerial Resolution in Italy addresses aspects of the tax treatment of bitcoin and other cybercurrencies, and holds that the value added tax (VAT) does not apply to transactions in which cybercurrencies are exchanged for traditional currencies or vice versa.[11] Italy
2016 September 28 Official response (warning) The National Bank of Macedonia issues a warning against cryptocurrencies, and reminds Macedonian residents that they are not allowed to have bank accounts or securities abroad, with certain exceptions, and therefore, investments by residents in cryptocurrencies are also not allowed.[11] Macedonia
2016 November 17 Official response (regulation) The United States Internal Revenue Service sends a request (a John Doe summons) to Coinbase "asking for the records of all customers who bought virtual currency from the company from 2013 to 2015".[166] United States
2016 December 20 Official response (warning) The Hungarian National Bank warns consumers that using virtual currencies have many risks as they operate in a legally unregulated virtual system and there are no proper rules on liability, guarantee, and compensation that would protect the interests of consumers in the event of abuse.[11] Hungary
2016 December Literature The inaugural issue of Ledger, the first peer-reviewed academic journal dedicated to cryptocurrencies and blockchain technologies, is published.[167]
2016 December Literature Ledger is first issued as the first peer-reviewed academic journal dedicated to cryptocurrency and blockchain technology research.[168]
2017 January 1 Official response (regulation) As of the start of 2017, thirteen US states have "clearly defined positions and/or regulations in regards to the blockchain and digital currency industry".[169] United States
2017 January Official response (negative) The Central Bank of the United Arab Emirates prohibits all transactions in “virtual currencies”, including cryptocurrencies.[11] United Arab Emirates
2017 February 27 Service shutdown Coinbase announces that it will stop serving customers in Hawaii due to a regulatory change that requires the company to "hold cash reserves equal to any digital currency-denominated funds held for its customers".[170] United States
2017 February Official response (warning) The Bank of Uganda warns against the use of cryptocurrencies in general and the services of an unlicensed entity called One Coin Digital Money, citing the absence of investor protection schemes and relevant regulatory mechanisms.[11] Uganda
2017 March 10 Official response (regulation) The United States Securities and Exchange Commission rejects the Winklevoss twins' application for an exchange-traded fund tied to the price of Bitcoin.[171][172] United States
2017 April Service shutdown The cryptocurrency exchange Poloniex announces it is suspending services in Washington State.[173] United States
2017 April 1 Official response (regulation) A Japanese law that brings bitcoin exchanges under anti-money laundering and know your customer rules as well as recognizing bitcoin as a form of prepaid payment instrument comes into effect.[174][175] Japan
2017 May 17 Official response (negative) The State Bank of Pakistan states that it does not recognize digital currencies.[11] Pakistan
2017 May Notable case The Bulgarian Government manages to confiscate 213,519 bitcoins (enough to pay off a quarter of the country’s national debt), during a standard police action cracking on some local cyber criminals who were to blame for making a ransom virus.[106][176][177] Bulgaria
2017 June 13 Organization (exchange company) Gemini, the digital currency exchange started by the Winklevoss twins, begins operating in Washington State after it is granted a license to do so.[178] United States
2017 June Research The People's Bank of China establishes a research institute dedicated to digital currencies.[127][179] China
2017 June Official response (warning) The Financial Superintendency of Colombia warns that bitcoin is not currency in Colombia and therefore may not be considered legal tender susceptible of cancelling debts.[11] Colombia
2017 July 1 Organization (exchange company) Cryptocurrency exchange Binance is founded.[180] China
2017 July 4 Official response (warning) The Saudi Arabian Monetary Agency issues a warning against bitcoin because it is not being monitored or supported by any legitimate financial authority.[11] Saudi Arabia
2017 July 7 Official response (warning) The Polish National Bank and the Financial Supervision Commission jointly issue a warning against investing in virtual currencies, citing price volatility and the risk of fraud.[11] Poland
2017 July 13 Official response (negative) The Bank of Albania declares that the legal and regulatory framework in place do not envisage carrying out operations with cryptocurrency in Albania and users are exposed to certain risks.[11] Albania
2017 July 20 Bitcoin Improvement Proposal 91, to trigger Segregated Witness (SegWit) activation, is locked in.[181]
2017 July Official response (negative) The Central Bank of Chile states that virtual currencies have no specific legal recognition in the country and trade and transactions involving cryptocurrency are not subject to the regulation or supervision of the monetary authority.[11] Chile
2017 August 1 Bitcoin fork A hard fork of bitcoin known as Bitcoin Cash occurs on this day.[182]
2017 August 1 Official response (regulation) The Monetary Authority of Singapore (MAS) issues a statement clarifying that the offer or issue of digital tokens in Singapore will be regulated by the MAS, if the digital tokens fall within the definition of “securities” regulated under the security laws.[11] Singapore
2017 August 2 Valuation Bitcoin cash is already the third most valuable cryptocurrency –with a market value of US$7.6 billion, after Bitcoin (US$44.4 billion MV) and Ethereum (US$21 billion MV).[183]
2017 August 4 Valuation Bitcoin reaches record high valuation of US$3,000 per coin.[184]
2017 August 13 Valuation Bitcoin breaks the US$4,000 mark.[185]
2017 August 13 Official response (negative) The Nepal Rastra Bank issues a notice that “all transactions related to or regarding bitcoins are illegal.”[11] Nepal
2017 August 15 Broadcasting Blockstream, a Bitcoin software company, announces the launch of its Blockstream Satellite network, aimed at broadcasting bitcoin to people just about anywhere in the world irrespective of their internet connection — for free. The launch is expected to make the cryptocurrency more accessible to almost anyone, even in places where data costs are high and living standards and incomes are low.[186][187][188][189][190]
2017 August 17 Official response (regulation) Australia announces plan to strengthen its anti-money laundering laws and regulate digital currencies such as Bitcoin, following a similar move by Japan.[191][192][193] Australia
2017 August Official response (negative) The Central Bank of Swaziland issues a press release noting that cryptocurrency does not enjoy legal-tender status in Swaziland.[11] Swaziland
2017 September 2 Valuation Bitcoin's price rises above US$5,000 for the first time.[194][195]
2017 September 4 Official response (negative) Chinese government regulators issues the Announcement on Preventing Financial Risks from Initial Coin Offerings, which bans initial coin offerings (ICOs) in China.[11] China
2017 September 8 Official response (regulation) Russia’s Finance Minister Anton Siluanov announces plan to regulate the circulation of bitcoin and other crypto-currencies involving Russian citizens and firms.[196][197][198] Russia
2017 September 27 Official response (warning) The Monetary Authority of Macau (AMCM) issues a statement warning the financial industry and the public about the risks of virtual commodities and tokens. AMCM states: “Any trading of these commodities involves considerable risks, including but not limited to those relating to money laundering and terrorism financing, against which all participants should remain vigilant.”[11] Macau
2017 September 27 Notable acquisition Tim Draper buys 2000 Bitcoin shares at a price of US$ 400,000.[80] United States
2017 September 29 Official response (regulation) Japan's Financial Services Agency (FSA) issues operating licenses to 11 Bitcoin exchanges.[199][200] Japan
2017 September Official response (negative) The Bank of Namibia issues a position paper noting that virtual currencies are not considered legal tender and are currently unregulated in the country.[11] Namibia
2017 September Official response (negative) The Central Bank of Uzbekistan expresses the opinion that it is not advisable to allow operations with cryptocurrencies because of the possibility of terrorism financing and other criminal activities.[11] Uzbekistan
2017 October 11 Official response (negative) The Central Bank of Russia announces it would support moves to block websites dealing in bitcoin and other virtual currencies, amidst declarations of President Vladimir Putin denouncing the cryptocurrency as risky and used by criminals.[201][202] Russia
2017 October 11 Official response (negative) The Bank of Lithuania states that financial services must be clearly dissociated from activities related to virtual currencies and that financial market participants should not provide services associated with virtual currencies.[11] Lithuania
2017 October 16 Milestone transaction IBM and a network of banks begin using digital currency and blockchain software to move money across borders throughout the South Pacific.[203]
2017 October 20 Valuation Bitcoin breaks above US$6,000.[204][205]
2017 October 30 Official response (negative) The State Bank of Vietnam issues a decree determining that Bitcoin and other virtual currencies are not legal means of payment.[11] Vietnam
2017 October Market capitalization Bitcoin market capitalization reaches US$100 billion.[206]
2017 October 24 Organization (exchange company) Upbit launches in South Korea.[207][208][209]
2017 October Official response (warning) The Central Bank of Costa Rica issues a statement warning about the risks associated with the acquisition of cryptocurrencies with the intention of using them either as financial savings or as a means of payment in Costa Rica.[11] Costa Rica
2017 October Official response (regulation) The Central Bank of Kyrgyzstan states that it does not consider introducing any prohibitive or restrictive measures regarding the mining of cryptocurrency.[11] Kyrgyzstan
2017 November 2 Valuation Bitcoin surpasses the US$7,000 mark for the first time.[210][211][212]
2017 November 2 Official response (regulation) The Commercial Register Office in the Swiss Canton of Zug starts accepting Bitcoin and Ethereum as payment for administrative costs.[11] Switzerland
2017 November 12 Bitcoin fork Bitcoin Gold is launched as the second project to fork away from the Bitcoin blockchain to create a new coin in the year.[213][214][215][216]
2017 November 16 Official response (warning) The Brazilian Federal Reserve Bank issues a notice alerting citizens to the risks arising from the custody and trading operations of virtual currencies.[11] Brazil
2017 November 27 Official response (regulation) Estonia enacts amendments to its anti-money laundering legislation that define cryptocurrencies as value represented in digital form that is digitally transferable, preservable, or tradable and that natural persons or legal persons accept as a payment instrument, but that is not the legal tender of any country or funds (banknotes or coins, scriptural money held by banks, or electronic money).[11] Estonia
2017 November 29 Valuation Bitcoin value reaches US$10,000 for the first time, a more than 10-fold increase in value over the course of the year.[217][218][219]
2017 November 30 Official response (regulation) The financial regulators of Ukraine issue a joint statement declaring that cryptocurrencies cannot be classified as money, foreign currency, a means of payment, electronic money, securities, or a money surrogate.[11] Ukraine
2017 November Official response (regulation) Latvia introduces monitoring requirements for virtual currency service providers, including providers of virtual currency exchange services. Virtual currency is defined as the digital representation of a value that may be digitally transmitted, stored, or traded, and acts as an exchange instrument without being legal tender.[11] Latvia
2017 November Official response (warning) The Finnish Financial Supervisory Authority issues an advisory that cryptocurrencies are risk-filled investment alternatives.[11] Finland
2017 November Official response (warning) The Central Bank of Lesotho issues a press statement warning the public of the risks associated with the use of cryptocurrencies, given the fact that the Bank “does not oversee, supervise or regulate the cryptocurrencies, their systems, promoters or intermediaries.”[11] Lesotho
2017 December 1 Official response (regulation) Unites States regulator Commodity Futures Trading Commission (CFTC) announces it would let the Chicago Mercantile Exchange and Chicago Board Options Exchange trade in Bitcoin-related financial contracts. The news would render Bitcoin valuation rise further.[220][221][222][223] United States
2017 December 3 Official response (negative) The Iraqi Central Bank prohibits the use of cryptocurrencies, stating that currency traders who carry out transactions in cryptocurrencies will be punished by penalties cited in the country’s anti-money laundering law.[11] Iraq
2017 December 5 Official response (negative) The National Bank of Cambodia states that activities of a handful of companies operating in Cambodia that try to persuade people to use cryptocurrencies for everyday purchases and other financial transactions are “not legal as digital currencies are not issued or backed up by any government.”[11] Cambodia
2017 December 7 Mining The 16 millionth Bitcoin is mined, with 5 million remaining.[224]
2017 December 17 Valuation CoinDesk Bitcoin price index reaches an all-time high of $19,783.21.[225][226][227][228][229]
2017 December 18 Official response (negative) The Croatia’s Financial Stability Council warns that individuals investing in virtual currencies bear sole responsibility for their losses and should be aware of possible taxation.[11] Croatia
2017 December 18 Official response (negative) Kuwait’s Ministry of Finance announces it does not recognize cryptocurrencies for purposes of official commercial transactions.[11] Kuwait
2017 December 19 Official response (warning) The Taiwanese Financial Supervisory Commission (FSC) issues a statement warning the general public about the risks of investing in virtual commodities such as Bitcoin.[11] Taiwan
2017 December 20 Official response (negative) The National Bank of Georgia confirms that cryptocurrency is not legal tender in Georgia and is not regulated by Georgian law.[11] Georgia
2017 December 22 Official response (negative) The Central Bank of Brunei releases a statement reminding the public that “cryptocurrencies are not legal tender in Brunei Darussalam and are not regulated” and advising the public “to be vigilant and exercise extreme caution when dealing with such currencies that are privately issued.”[11] Brunei
2017 December 24 Official response (negative) The Bangladesh Bank issues a cautionary notice declaring that cryptocurrencies are illegal in Bangladesh.[11] Bangladesh
2017 December 28 Official response (regulation) South Korea’s government announces imposition of additional measures to regulate speculation in cryptocurrency trading within the country. This would unleash a negative impact on Bitcoin's valuation across the globe.[230][231] South Korea
2017 December Organization Pineapple Fund is founded as a philanthropic project by an anonymous individual which gives away 5,057 Bitcoins to 60 charities. The amount is valued at US$86 million in December 2017.[232][233][234][235]
2017 December Official response (negative) The acting President of the Bank of Guatemala confirms that both Bitcoin and other types of cryptocurrencies are not legal tender in the country and do not have regulatory backing.[11] Guatemala
2017 December 27 Official response (negative) Algeria issues law prohibiting the use of any cryptocurrencies.[11] Algeria
2017 December 29 Official response (regulation) Argentina issues amendment to its income tax law providing that the profit derived from the sale of digital currency will be considered income and taxed as such.[11] Argentina
2017 December Official response (warning) The Central Bank of Oman declares that there are no policies or guidelines to regulate “digital currencies” or “cryptocurrencies”, and urges citizens to be cautious when dealing with cryptocurrencies, asserting that the Central Bank is not responsible for any financial consequences stemming from dealings in cryptocurrencies.[11] Oman
2017 December Official response (negative) The Reserve Bank of Zimbabwe notes that virtual currencies are not legal tender in Zimbabwe and remain unregulated.[11] Zimbabwe
2018 January 1 Official response (regulation) The municipality of Chiasso, in the Swiss Canton of Ticino, starts accepting Bitcoin as tax payments for amounts of up to CHF250 (around US$263).[11] Switzerland
2018 January 7 Official response (negative) The governor of the Central Bank of Bahrain issues a warning against cryptocurrencies, especially Bitcoin.[11] Bahrain
2018 January 8 Official response (warning) The Mozambican Federal Reserve Bank issues a notice informing citizens that it does not regulate or supervise any activity or transaction carried out through Bitcoins and is not responsible for any impacts of transactions related to Bitcoin.[11] Mozambique
2018 January 9 Official response (negative) The Central Bank of Bosnia and Herzegovina announces that the convertible mark (the currency of Bosnia and Herzegovina) is the only legal means of payment in the country, and it is not possible to exchange Bitcoins and other cryptocurrencies for convertible mark.[11] Bosnia and Herzegovina
2018 January 10 Official response (negative) The Central Bank of Egypt issues a warning against the trading of cryptocurrencies, such as Bitcoin, due to the extremely high risk associated with such currencies.[11] Egypt
2018 January 11 Official response (regulation) The Inland Revenue Department os New Zelaland indicates that people should “treat money made buying and selling cryptocurrencies in the same, or similar, way they would money made buying and selling gold. That is, pay tax on the profit made by selling a currency, only if that currency was bought with the intention of resale.”[11] New Zealand
2018 January 12 Valuation Amidst rumors that South Korea could be preparing to ban trading in cryptocurrency, the price of Bitcoin depreciates by 12 percent.[236][237]
2018 January 13 Official response (warning) The Bank Indonesia releases a statement that warns against buying, selling, or otherwise trading in virtual currencies.[11] Indonesia
2018 January 15 Official response (warning) The National Bank of Tajikistan issues a statement warning the citizens about the risks associated with the use of cryptocurrency. The Bank clarifies that in Tajikistan cryptocurrency cannot be considered an official means of exchange or savings, or a unit of account.[11] Tajikistan
2018 January 16 Service shutdown Bitconnect announces it would shut down its cryptocurrency exchange and lending operation after regulators from Texas and North Carolina issue a cease and desist order against it as it was suspected of being fraudulent.[238][239][240]
2018 January 17 Valuation Bitcoin price falls to as low as $9,199.59, half its peak price, falling almost 19 percent within 24 hours, after Chinese authorities say they will strengthen a ban put in place late in 2017 to prevent its citizens from using cryptocurrency exchanges.[241][242][243][244][245]
2018 January 17 Official response (regulation) The head of Kyrgyzstan’s National Bank, Tolkunbek Abdygulov, states that the Bank does not plan to impede the development of the cryptocurrency market in Kyrgyzstan, noting that it is very difficult to ban something that the Central Bank does not issue and that citizens of Kyrgyzstan investing in cryptocurrency do so at their own risk and peril.[11] Kyrgyzstan
2018 January 18 Official response (negative) The Bank of Slovenia warns citizens that virtual currencies are not a digital replacement for banknotes and coins, and are not regulated.[11] Slovenia
2018 January 24 Official response (regulation) Polish Prime Minister Mateusz Morawiecki states that Poland will either ban cryptocurrency or introduce regulations to ensure that it does not turn into a pyramid scheme.[11] Poland
2018 January 26 Security Coincheck, Japan's largest cryptocurrency OTC market, is hacked. US$530 million of the NEM are stolen, and the loss is the largest ever by an incident of theft, which causes Coincheck to indefinitely suspend trading.[246] Japan
2018 January 30 Official response (regulation) The South Korean government implements a rule that allows trades in cryptocurrencies only from real-name bank accounts.[11] South Korea
2018 January 31 Mining Within its semiconductor business called Foundry, Samsung starts mass producing Bitcoin mining chips in partnership with an unidentified Chinese mining company.[247][248][249][250][251]
2018 January 31 Official response (warning) The Central Bank of Kosovo issues warning about the use of cryptocurrencies reminding persons that virtual money is not recognized as legal tender and that financial losses may result from investing in cryptocurrencies.[11] Kozovo
2018 January 31 Official response (regulation) In the self-proclaimed republic of Transnistria, a law is passed legalizing mining activities. It provides for creation of free economic zones for mining purposes. The authorities promise exemption from taxes, duty-free import and export of mining equipment, and assistance with energy supply.[11] Moldova
2018 January 31 Corporation policy Facebook bans people entirely from advertising Bitcoin and other cryptocurrencies amid fears they are used for fraud.[252][253][254][255]
2018 January Official response (negative) The Honduran Central Bank issues a statement declaring that cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and other similar cryptocurrencies do not have the backing of the Central Bank of Honduras.[11] Honduras
2018 January Official response (negative) The Central Bank of Ecuador states that Bitcoin is not an authorized payment method in this country.[11] Ecuador
2018 January Official response (warning) The Central Bank of the Netherlands publishes a position paper on cryptocurrencies and initial coin offerings in which it highlights that cryptocurrencies “do not currently fulfill the role of money—in fact, they are hardly ever used for payment, and they are not a universally accepted and stable medium of exchange, a suitable unit of account or a reliable store of value. Accordingly, they do not have any implications in terms of monetary policy.”[11] Netherlands
2018 January Official response (negative) The Bank of Ghana advises to banks and the general public against the use of “virtual or digital currencies, also known as cryptocurrencies,” mainly because such currencies and the entities that facilitate their transactions are not sanctioned by the government.[11] Ghana
2018 January Official response (negative) The government of India states that cryptocurrencies such as Bitcoin are not legal tender in the country.[11] India
2018 February 5 Official response (warning) The Bank of Jamaica warns the public to “exercise caution in the use of virtual currencies given the associated risks and the absence of appropriate governance and consumer protection arrangements”.[11] Jamaica
2018 February 6 Official response (warning) Romania’s National Bank announces that it discourages any involvement of local credit institutions in the cryptocurrency sector because of reputational risks.[11] Romania
2018 February 9 Official response (warning) Hong Kong’s Securities and Futures Commission (SFC) alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings.[11] Hong Kong
2018 February 12 Official response (warning) The Central Bank of Azerbaijan states that cryptocurrency is a very volatile instrument and urges the population to be more careful in dealing with cryptocurrencies.[11] Azerbaijan
2018 February 12 Official response (warning) The Bank of Thailand issues a circular asking financial institutions to refrain from doing any business involving cryptocurrencies.[11] Thailand
2018 February 14 Official response (warning) The National Bank of Bulgaria announces that it joins the position of the European supervisory authorities on the risks inherent in buying virtual currencies, and notes that such currencies show extreme price volatility and signs of a pricing bubble.[11] Bulgaria
2018 February 15 Official response (warning) The National Bank of Moldova issues a statement recommending that citizens be as cautious as possible in deciding whether to invest in crypto-assets, given the technical characteristics of cryptocurrency, its high volatility, and the absence of any regulation that would protect investors.[11] Moldova
2018 February Mining Several scientists working at a top-secret Russian nuclear warhead facility are arrested for allegedly using one of the country's most powerful supercomputers to mine Bitcoins.[256][257][258]
2018 February Official response (regulation) The Israeli government confirms that it would treat bitcoin and other cryptocurrencies as a kind of property instead of currency, making it therefore taxable as such.[259] Israel
2018 February Corporation policy Payment processors Visa and Mastercard re-classifiy bitcoin purchases viewing them as “cash advances,” a category that brings an additional 5% fee to those virtual currency purchases on credit cards.[260]
2018 February Official response (regulation) The German Federal Ministry of Finance publishes guidance on valueadded-tax (VAT) treatment of Bitcoin and other virtual currencies, and determines that transactions to exchange a traditional currency for Bitcoin or other virtual currencies and vice versa constitute the taxable supply of other services for consideration, but fall under the exemption from VAT.[11] Germany
2018 February Official response (negative) The National Securities Commission of Spain and the Bank of Spain issue a joint statement regarding the use of Bitcoin, noting that cryptocurrency is not issued, registered, authorized, or verified by any regulatory agency in the country.[11] Spain
2018 February Official response (negative) The Qatar Central Bank warns citizens against trading in Bitcoin. The circular issued by the bank describes Bitcoin as illegal and unsupported by any central bank or government.[11] Qatar
2018 February Official response (warning) The Zambia Securities and Exchange Commission urges “any individuals or entities that are currently investing in or intend to invest in cryptocurrencies and related products/assets to exercise restraint and caution as they do so as the products/assets are largely unregulated and not subject to the jurisdiction of the Commission.”[11] Zambia
2018 March 1 Official response (negative) The government of Armenia publishes a document stating that adoption of a proposed law on cryptocurrencies is not advisable given that the majority of the leading countries urge people to refrain from operations with cryptocurrencies.[11] Armenia
2018 March 14 Corporation policy Google announces ban of all adverts for cryptocurrencies, including Bitcoin and initial coin offerings (ICOs), as it seeks to “tackle emerging threats”. Bitcoin valuation briefly falls below US$8,000 after the announcement.[261][262][263][264]
2018 March 20 Official response (regulation) Russia introduces bill defining “mining” as activities aimed at the creation of cryptocurrency with the purpose of receiving compensation in the form of cryptocurrency. Treated as an entrepreneurial activity, mining is subject to taxation if the miner exceeds the energy consumption limits established by the government for three months in a row.[11] Russia
2018 March 23 Official response (regulation) The Ministry of Finance of Slovakia publishes guidance explaining that revenues stemming from cryptocurrencies must be taxed, and that any type of exchange (including virtual currency) must be considered to be a taxable transfer.[11] Slovakia
2018 March 23 Literature Saifedean Ammous publishes The Bitcoin Standard: The Decentralized Alternative to Central Banking, which analyzes the historical context to the rise of Bitcoin.[265]
2018 March 28 Official response (regulation) A Presidential Decree in Belarus on the development of the digital economy comes into effect, and permits buying, selling, exchanging, and mining cryptocurrency. Individuals are permitted to engage in mining; acquire tokens; and exchange, sell, donate, bequeath, and otherwise dispose of cryptocurrency. Income generated by mining and operations in cryptocurrencies is exempt from taxation until 2023.[11] Belarus
2018 March 30 Official response (negative) The National Bank of Kazakhstan states its conservative position on the issue of cryptocurrencies and adds that legislative amendments had already been prepared to prohibit the purchase and sale of cryptocurrencies for national currency, ban the activity of exchanges, and ban any type of mining.[11] Kazakhstan
2018 March Official response (warning) The Financial Sector Monitoring Commission of Luxembourg issues a statement warning about the risks of investing in cryptocurrencies.[11] Luxembourg
2018 March Official response (regulation) Mexico enacts law which includes a chapter on operations virtual assets (cryptocurrencies), defining them as representations of value electronically registered and utilized by the public as a means of payment for all types of legal transactions, which may only be transferred electronically.[11] Mexico
2018 March Official response (regulation) The National Agency for Fiscal Administration of Romania declares that income from transactions with cryptocurrencies are taxable.[11] Romania
2018 March Official response (warning) The Swedish Central Bank announces that “Bitcoins are not money.”[11] Sweden
2018 March Official response (negative) The Moroccan Exchange Office informs the public that the transactions effectuated through virtual currencies constitute a violation of the exchange regulations and are subject to penalties and fines provided by the texts in force.[11] Morocco
2018 April 6 Official response (negative) The Reserve Bank of India issues a notification prohibiting banks, lenders and other regulated financial institutions from “dealing with virtual currencies.”[11] India
2018 April 22 Official response (negative) The Central Bank of Iran announces ban on the handling of cryptocurrencies by all Iranian financial institutions, including banks and credit institutions. Currency exchanges are also banned from buying and selling, including adopting measures to facilitate or promote them.[11] Iran
2018 April 26 Mining The 17 millionth of 21 million Bitcoins is mined.[266]
2018 May 21 Milestone transaction Banco Masventas, a bank in Argentina, starts using Bitcoin for cross-border payments. [267] Argentina
2018 June 22 Official response (regulation) The Financial Services Agency (FSA), Japan’s top financial regulator, issues six new business improvement orders. The orders to Bitflyer, Tech Bureau, Bitpoint Japan, Btcbox, Bitbank, and Quoine follow the agency’s first rejection of a crypto exchange registration on June 7.[268] Japan
2018 August Technology A reported 3,500 Bitcoin ATMs (BATM) are installed worldwide.[269][270]
2018 September Security A Bitcoin Cash developer discovers the vulnerability CVE-2018-17144 in the Bitcoin Core software that could allow an attacker to crash vulnerable Bitcoin Core nodes and exceed the 21 million coin limit.[271]
2018 September 14 Security Hackers steal 6.7 billion yen (US$60 million) in Bitcoin and two other cryptocurrencies from Japan-based cryptocurrency exchange Zaif.[272][273][274]
2018 November 15 Bitcoin fork A hard fork chain split of Bitcoin Cash occurs between two rival factions, Bitcoin Cash and Bitcoin SV.[275][276] On the first day, Bitcoin Cash trades at about US$289 and Bitcoin SV trades at about $96.50, down from $425.01 a day earlier for the un-split Bitcoin Cash.[277]
2019 January 1 Mining The government of Abkhazia temporarily shuts down 15 mining farms in the country, in a short-term measure meant to alleviate power shortages during the cold winter months. The shut down facilities have a total power capacity of 8,950 kWt, and their consumption is equal to that of 1,800 households.[278][279][280] Abkhazia
2019 January Currency adoption Coin-cashing machines operating company Coinstar announces it will start selling Bitcoin at grocery stores.[281] United States
2019 May 21 Literature American author Ben Mezrich publishes Bitcoin Billionaires: A True Story of Genius, Betrayal and Redemption, which tells the story of brothers Tyler and Cameron Winklevoss's big bet on Bitcoin. The book parallels The Accidental Billionaires, published in 2009 by the same author.[282] United States
2019 June Education The French education ministry announces the inclusion of Bitcoin in the school curriculum, noting how it will use the cryptocurrency to help students think about the characteristics of money.[283] France
2019 October 18 Mining The 18 millionth bitcoin is mined.[284][285][286]
2019 November 6 Partnership Tokens.net partners with Bitcoin.com as an Official Simple Ledger Protocol (SLP) Partner. SLP is a protocol for token creation on the Bitcoin Cash (BCH) chain, promoting tokenization of assets in a simple way, as well as providing electronic wallets, block explorers, social media bots, token faucets and back-end infrastructure, as well as protocols for token creation and consulting for token resources and development.[287][288]
2019 November 20 Currency adoption Bitcoin.com launches the US$200 million Bitcoin Cash Ecosystem Fund, which focuses on payment solutions and non-custodial financial services for Bitcoin Cash.[289][290]
2020 Early February Mining The Chinese government shuts Bitcoin mining farms in order to contain the outbreak of the COVID-19 epidemic in the country.[291][292] China
2020 April 8 Bitcoin fork Bitcoin Cash undergoes halving event, reducing its block rewards by half, and causing many miners to see gross margins drop to near zero.[293][294]
2020 May 7 Notable acquisition American hedge fund manager Paul Tudor Jones reportedly buys Bitcoin as an inflation hedge in order to seek protection against central banks around the globe printing money to relieve coronavirus-battered economies.[295] United States
2020 May 16 Mining The third Bitcoin halving should take place around this date on block 630,000.[90][296][297] The amount of new Bitcoins issued every 10 minutes will drop from 12.5 Bitcoins to 6.25.[90]
2020 June 10 Currency adoption Asia-Pacific bottling company Coca-Cola Amatil starts offering Bitcoin payment options in Australia and New Zeland, with more than 2,000 vending machines in those countries letting customers buy a Coke with bitcoin.[298][299][300] Australia, New Zeland
2020 July 15 Security A reported 130 high-profile Twitter are compromised by outside parties to promote a bitcoin scam. Twitter would later confirm that the perpetrators had gained access to Twitter's administrative tools so that they could alter the accounts themselves and post the tweets directly.[301][302][303]
2020 August Currency adoption American business intelligence company MicroStrategy announces having purchased 21,454 bitcoins at a price of US$250 million, with the purpose to hold as a treasury reserve asset.[304][305][306] United States
2020 September 26 Bitcoin fork Bitcoin Unlimited has its stable release.[307]
2020 October 8 Currency adoption American payments company Square, Inc. announces having purchased 4,709 bitcoins (about US$50 million) in investment, representing 1% of the firm’s total assets.[308][309][310]
2020 October 21 Currency adoption American financial services company PayPal announces a new service allowing all users in the United States buy, hold, or sell bitcoin using PayPal.[311][312][313] United States
2020 November 16 Notable prediction A senior Citibank analyst predicts that Bitcoin could potentially reach US$318,000 in value by December 2021.[314][315][316] United States
2020 November 19 Fraud case The Chinese police seizes crypto assets worth more than US$4.2 billion (including 194,775 BTC) from PlusToken, a cryptocurrency Ponzi scheme disguised as a high-yield investment program.[317][318] China
2020 November 23 Early development Researchers analyzing Satoshi Nakamoto’s activities conclude that he was launched Bitcoin from London.[319][320] United Kingdom
2020 November 26 Official response (regulation) The Russian prime minister outlines the government’s plans to recognize Bitcoin and other cryptocurrencies as property with legal protection.[321] Russia
2020 November 30 Valuation Bitcoin reaches a new all time high of $19,860, surpassing the previous peak of $19,783 from December 2017.[322][323][324]
2020 December 3 Currency adoption Private German bank Hauck & Aufhäuser announces launch of a cryptocurrency fund which includes Bitcoin, Ethereum, and Stellar, in an attempt to pursue a passive investment strategy.[325][326][327]
2020 December 10 Currency adoption Massachusetts-based life insurance company MassMutual invests US$100 million in Bitcoin for its general investment fund.[328][329][330] United States
2020 December Currency adoption American financier Anthony Scaramucci launches the SkyBridge Bitcoin Fund, an institutional grade fund to invest in Bitcoin.[331] United States
2021 January 5 Notable prediction American multinational investment bank JPMorgan Chase predicts that Bitcoin price could rise over US$146,000 in the long term, as it competes with gold as an asset class.[332] Previously, JPMorgan CEO Jamie Dimon has called Bitcoin a “fraud”.[333] United States
2021 January 29 Notable case Bitcoin valuation spikes 20% after Elon Musk adds the hashtag #bitcoin to his Twitter bio.[334][335][336]
2021 February 1 Notable comment European Central Bank governing council member Gabriel Makhlouf warns that Bitcoin investors may "lose all their money" by investing in a “highly speculative asset”.[337]
2021 February 3 Currency adoption Credit card company Visa Inc. announces plans to help banks roll out Bitcoin and cryptocurrency buying and trading services with a Visa crypto software program, set to launch later in the year.[338][339] United States
2021 February 8 Notable acquisition Tesla, Inc. announces having bought US$1.5 billion worth of Bitcoin.[340]
2021 February 10 Currency adoption American financial services corporation Mastercard announces that that it will begin supporting cryptocurrencies on its network later in the year.[341][342] United States
2021 February 10 Mining Analysis by Cambridge University suggests that Bitcoin mining consumes around 121.36 terawatt-hours (TWh) a year,more than the whole of Argentina.[343][344][345] United Kingdom
2021 February 11 Currency adoption The Bank of New York Mellon announces that it will begin financing Bitcoin and other digital currencies. This is regarded as a validation of crypto from a key bank in the financial system.[346][347] United States
2021 February 11 Notable comment United States secretary of the treasury Janet Yellen says that "misuse" of cryptocurrencies like Bitcoin is a growing problem, as regulators increase scrutiny after surge in interest. Yellen also emphasizes that "cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism."[348][349] United States
2021 February 11 Official response (negative) The Government of India announces being in the process levying a complete ban on crypto investment in the country. Existing investors would reportedly get a 3-6 month transition period for liquidating their investments.[350][351][352] India
2021 February 15 Mining A study published in journal Nature Climate Change warns on the growing environmental impact of Bitcoin mining and reports that if Bitcoin is implemented at similar rates at which other technologies have been incorporated, it alone could produce enough emissions to raise global temperatures by 2°C as soon as 2033.[353][354]
2021 February 17 Notable comment Anthony Scaramucci estimates that Bitcoin would surpass US$100,000 before year's end.[331][355] United States
2024 March–June Mining The fourth Bitcoin halving will happen at block 840,000.[90]
2030 Mining More than 98% of Bitcoins will be mined by this year.[90]
2140 Mining The last Bitcoin will be mined around this year due to block reward halving.[356][357]

Bitcoin Core version updates

Year Month and date Software version
2009 January 9 0.1 [358]
2009 December 16 0.2 [359]
2010 July 6 0.3 [360]
2010 July 11 0.3[361]
2011 April 27 0.3.21[362]
2011 June 5 0.3.22 [363]
2011 June 14 0.3.23[364]
2011 July 8 0.3.24[365]
2011 September 23 0.4.0[366]
2011 November 21 0.5.0 .[367]
2011 December 15 0.5.1[368]
2012 January 9 0.5.2[369]
2012 March 14 0.5.3[370]
2012 March 16 0.5.3.1[371]
2012 March 30 0.6.0[372]
2012 May 4 0.6.1[373]
2012 May 8 0.6.2[374]
2012 June 25 0.6.3[375]
2012 September 17 0.7.0[376]
2012 October 19 0.7.1[377]
2012 December 14 0.7.2[378]
2013 February 19 0.8.0[379]
2013 March 18 0.8.1[380]
2013 May 29 0.8.2[381]
2013 June 23 0.8.3[382]
2013 September 3 0.8.4[383]
2013 September 13 0.8.5[384]
2013 December 9 0.8.6[385]
2014 March 19 0.9.0[386]
2014 April 8 0.9.1[387]
2014 June 16 0.9.2[388]
2014 June 19 0.9.2.1[389]
2014 September 27 0.9.3[390]
2015 February 16 0.10.0[391]
2015 April 27 0.10.1[392]
2015 May 19 0.10.2[393]
2015 July 12 0.11.0[394]
2015 October 14 0.10.3[395]
2015 October 15 0.11.1[396]
2015 November 13 0.11.2[397]
2016 February 23 0.12.0[398]
2016 April 15 0.12.1[399]
2016 August 23 0.13.0[400]
2016 October 27 0.13.1[401]
2017 January 3 0.13.2[402]
2017 March 8 0.14.0[403]
2017 April 22 0.14.1[404]
2017 June 17 0.14.2[405]
2017 September 14 0.15.0[406]
2017 September 19 0.15.0.1[407]
2017 November 11 0.15.1[408]
2018 February 26 0.16.0[409]
2018 June 15 0.16.1[410]
2018 July 29 0.16.2[411]
2018 September 28 0.15.2 and 0.14.3[412][413]
2018 October 9 0.17.0.1[414]
2018 December 25 0.17.1[415]
2019 May 2 0.18.0[416]
2019 August 9 0.18.1[417]
2019 October 24 0.19.0.1[418]
2020 March 9 0.19.1[419]
2020 June 3 0.20.0[420]
2020 August 1 0.20.1[421]
2021 January 14 0.21.0.[422]

Mentions on Google Scholar

The following table summarizes per-year mentions on Google Scholar.

Year bitcoin (Jameson Lopp)[423][424] blockchain (Lopp)[425] bitcoin (as of June 12, 2017) blockchain (as of June 12, 2017) bitcoin (as of March 19, 2020) blockchain (as of March 19, 2020)
2009 83 97 54 371 415
2010 136 213 84 44 373 510
2011 218 224 252 55 552 489
2012 424 311 476 104 817 673
2013 868 477 1,480 208 2,210 867
2014 2,070 956 3,620 640 4,440 1,490
2015 2,820 1,440 3,470 1,140 5,070 2,470
2016 3,380 2,190 4,900 2,500 6,490 5,280
2017 6,460 1,920 1,760 11,600 13,100
2018 11,500 20,200 33,800
2019 13,700 19,500 41,000

GitHub repositories

The following table summarizes cumulative repositories on GitHub, showing search results as of March 20, 2020.[426]

Year Cumulative repositories
2009 0
2010 28
2011 360
2012 623
2013 2,107
2014 4,372
2015 6,606
2016 8,867
2017 16,370
2018 27,129
2019 35,371

Numerical and visual data

Mentions on Google Scholar

The following table summarizes per-year mentions on Google Scholar as of July 31, 2021.

Year Bitcoin Cryptocurrency Blockchain
2009 434 110 200
2010 482 155 280
2011 721 167 278
2012 927 127 322
2013 2,200 228 522
2014 4,440 783 1,040
2015 5,170 1,150 1,960
2016 6,530 1,700 5,000
2017 12,100 4,270 13,700
2018 22,100 12,000 41,400
2019 23,800 14,800 56,600
2020 22,600 15,600 58,500
Bitcoin google sch.png

Wikipedia pageviews

The image shows pageviews of the English Wikipedia page Bitcoin on desktop from December 2007, and on mobile-web, desktop-spider, mobile-web-spider and mobile app, from June 2015; to January 2021.

Bitcoin wv.jpeg

Google Trends

The comparative chart below shows Google Trends data for Bitcoin (Search term) and Ethereum (Search term) from January 2009 to February 2021, when the screenshot was taken. Interest is also ranked by country and displayed on world map.[427]

Bitcoin eth gt.jpeg

Other

The chart below illustrates the evolution of Bitcoin daily price in United States Dollars, from its earliest value to February 27th 2021.[428]

BTC price February 28 2021.png


The chart below illustrates the evolution of Bitcoin daily price in US Dollars, up to February 27th 2021, in logarithmic scale.[428]

BTC price February 28 2021 log.png


The chart below illustrates the Bitcoin hash rate, which is the measuring unit of the processing power of the Bitcoin network; from January 3rd 2009 to February 27th 2021.[428]

Btc hash rate.png


The chart below shows the Bitcoin hash rate evolution in logarithmic scale.[428]

Btc hash rate February 28 2021 log.png

Meta information on the timeline

How the timeline was built

Funding information for this timeline is available.

Feedback and comments

Feedback for the timeline can be provided at the following places:

What the timeline is still missing

Timeline update strategy

Pingbacks

See also

External links

References

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