Video - About Bitcoin The Story of Genesis

Bitcoin become famous when Satoshi Nakamoto gain supports from millions of people with high hopes on Crypto currencies. Now Bitcoin become one of the world's phenomenal digital currency with its outstanding performance over the years. Bitcoins are available on variety and huge number of exchanges which enables everyone to freely use it anytime and anywhere.


Long, long ago people came up with the idea that it's cool to have a lot of stuff. The more possessions you have the better. But one person can only make so much stuff. So people started exchanging with each other to get even more. Finally, people decided to have a universal exchange media - rocks, gold, slaves, papers, beads. They call it money in a word. People got richer every day and everything would have been fine but they had to keep their loots somewhere so no one could steal it. Some smart guys worked out they could profit from this. So, they went to the rich people and said hey, daddios, we'll keep your money safe in exchange for a small payment and cross our hearts it will be totally secure in our bank.

Yeah. People thought it was brilliant and the herd instinct began. Everyone brought all their money to the bank guys who gradually became suntan pigs with big power. Afterwards they wanted to get even more profit so their fees shot up. This is how the world economy was established. Now everything was under control, but now whose control it was that everyone had to deal with it.

But then one day a noble dude named Satoshi Nakamoto got really fed up with the banks holding his money hostage and charging stupid fees on every step. He used his enormous intelligence and bang, introduced an entire financial system based on a super code which allows for transferring and storing money without any banks, commissions and other bullshits. No one could get their dirty hands on anyone's savings now. Satoshi called this one the (00:01:22 Flibichi michbit) but then he changed his mind and named it Bitcoin.

This ultra-network is decentralized which means none of the aforementioned swine could get their dirty hands on it. And all transactions were done directly between two computers making them untraceable by banks. But how are Bitcoins created and who gets them? Satoshi thought this through as well.

New Bitcoins are mined but not using a pickaxe, with a computer and not from a cave, from a super server. At first everyone was skeptical; how can this be money if you can't wipe your arse with it. Is it supported by gold or something? People laughed until Satoshi found millions of supporters who also agree to exchange Bitcoin with goods and services. One dude even bought a pizza for 10,000 Bitcoins but then 10,000 Bitcoins turned out to be worth $10 million. So, he had to hang himself. But that's another story. Those who use Bitcoins knew the future had arrived. The Bitcoin community grew stronger and stronger uniting into mining pools like so they could generate more Bitcoins together and establishing cool trading places like CEX.IO, where people could easily exchange Bitcoins for other money. Bitcoin grew more and more popular. No wonder. It's easy, accessible and profitable. You get to shop without bank fees, transfer money all around the world within seconds and no cost and it's a 100% confidential which means there's no accountability.

And what a gang CEX.IO gave us. Everyone was happy. Someone mining and getting bonuses in cryptocurrencies, some trading, others enjoying new friendships. A veritable feast of friends. The people were free and the banks were left sucking their thumbs. Bitcoin oriented guys became superstars. All the girls were going crazy about them. Are you still swerving away from Bitcoins? What a loser! Come on, stop it, CEX.IO awaits.

Written by Melvin Draupnir on May 9, 2014.