Bitcoin, it’s like a script for a “mysterious geek’s revenge on the world.”

Rewind to the 2008 financial crisis. At that time, everyone was full of distrust towards banks and centralized financial systems. Then, a mysterious figure (no one still knows who it is) named “Satoshi Nakamoto” published a paper proposing an idea: “Can we create electronic cash that doesn’t rely on banks or governments, but operates entirely on peer-to-peer networks and cryptography?”
In January 2009, the Bitcoin network quietly went live. The first version of the software and the first block (the Genesis Block) contained a message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” (a satirical reference to the UK government’s bailout news at the time). The message was clear: traditional finance keeps failing, so let’s try something new.
Early days:
Initially, only programmers and cryptography enthusiasts mined Bitcoin, using CPU power from their computers. In 2010, someone exchanged 10,000 Bitcoins for two pizzas (which now looks like a legendary disaster 😂), marking the first “price”.
Key development milestones:
1. Concept diffusion period (2011-2013): More and more people found the idea of “decentralized currency” cool, leading to the emergence of exchanges and altcoins. Prices rose from a few dollars to hundreds, but also saw hacks, exchange failures (like the Mt. Gox incident).
2. Public awareness period (around 2017): Bitcoin started gaining mainstream attention, with ICO mania pushing prices close to $20,000, but also attracting global regulatory scrutiny.
3. Institutional entry period (post-2020): Amid pandemic stimulus measures, big companies and funds began treating Bitcoin as “digital gold,” pushing its price above $60,000 in 2021. Meanwhile, derivatives and ETF discussions heated up.
4. Now: Prices fluctuate wildly, but the ecosystem is becoming more complex—beyond speculation, there’s DeFi (decentralized finance), NFTs, Layer 2 scaling solutions, and more. Countries’ attitudes vary—some ban, some regulate.
Core features have remained unchanged:
- Total supply of 21 million coins, issued through “mining,” with the reward halving every four years (this is the basis for the “halving cycle” hype).
- Transaction records are stored on a public ledger (blockchain), but addresses are anonymous.
- No central authority; rules are determined by code and consensus.
Controversies have never stopped:
- Supporters say: “This is financial freedom,” “an inflation hedge.”
- Opponents say: “Too volatile,” “high energy consumption,” “easily used for illegal transactions.”
In summary, Bitcoin evolved from a paper into a trillion-dollar financial phenomenon, driven by a mix of “distrust in centralized systems,” “technological faith,” and “speculative frenzy.” It’s no longer just a “geek toy”—it’s now an inseparable part of the financial system. Some hate it, some love it, but almost no one can ignore it. $BTC