As Bitcoin approaches its 10th anniversary, its community, old and new, has begun taking stock of how a decade has come to alter or define the cryptocurrency — and what Bitcoin has done to alter or define the decade.
Ten years has invited room for undeniable change. Bitcoin has seen roughly half a dozen market cycles, spawned a secondary market of more than 2,000 altcoins and laid the foundations for a surging blockchain industry.
Yesterday, one post set the Bitcoin subreddit on fire: An anonymous Bitcoiner who goes by the name of “Pine” announced that they are establishing the Pineapple Fund to donate 5,057 BTC, worth about $86 million at today’s exchange rate, to charitable causes.
In “It’s a Wonderful Life,” the 1940s Christmas classic, George Bailey (played by Jimmy Stewart) is the guiding force of a small-town bank, who ends up sacrificing his own dreams for the betterment of his community.
Ultimately, facing financial ruin, he begins to question what it was all for.
Bitcoin is exploding and interest in the associated blockchain technology is at an all-time high, with Bitcoin being talked about on sitcoms as well as the news. But much of this success has been the result of a vibrant grassroots movement that has been fostered over time by dedicated and devoted communities of crypto enthusiasts around the world.
Bitcoin surpassed $10K yesterday. To many, the event was a mark of Bitcoin’s accomplishments. But yet, others are concerned that bitcoin has become too speculative, and a pop in the bubble could be damaging.
Introduced in 2009, bitcoin sort of flew under most people’s radars for several years, until 2012, when it became associated with Silk Road, the now-defunct dark marketplace.