Bitcoin - A decade old.

Bitcoin  is a cryptocurrency, a decentralized digital currency.The specialty of this bitcoin is that it does not relies on a single admin and there is no need for intermediaries. Here the transactions are involved from user-to-user on the peer-to-peer bitcoin network.This electronic cash marks 10 years and now it is at the forefront of a complex financial system. It was first introduced by a person or group writing under the pseudonym Satoshi Nakamoto whose identity still remains unknown. Bitcoin was released as open source software in 2009.This bitcoin has more political vision and created as a reward for mining process.The transactions are verified using network nodes through a method called cryptography and recorded in a public distributed ledger called  blockchain.

Bitcoin Pizza Day is celebrated on May 22, 2010, a virtual currency developer in Florida named Laszlo Hanyecz got a pizza delivery man to accept 10,000 bitcoins for two pizzas. It was the first known bitcoin payment, worth about $41 at the time. Today, each of those pizzas would be worth in excess of $30 million (26 million euros) in bitcoin. 

 Bitcoin is much criticized for its use in illegal transactions and having the possibilities to become an economic bubble.It  malfunctioned for over two weeks, the main bitcoin exchange that was based in Tokyo and known as Mt. Gox , filed for bankruptcy protection in February 2014. Accounting for nearly 80 percent of all bitcoin operations, the exchange said it had been hacked, losing some $477 million in cryptocurrencies. Its former chief, a Frenchman name Mark Karpeles, is still facing legal proceedings in Tokyo, where he was briefly placed under arrest. 

According to Bloomberg data, the last year was a mercurial one for bitcoin, with the currency hitting global headlines after soaring in value from less than $1,000 in January and attained a peak value $19,511 on December 18.This continued for some days, with bitcoin's value fluctuating wildly over the course of the following weeks.It  is experiencing much more modest trade volumes and price swings.The next breakthrough will come with approval by the US Securities and Exchange Commission (SEC) which has a security similar to a stock that would track bitcoin's value. These incidents witness the tumultuous decade of bitcoin.