Module One: History of Bitcoin 

Lesson 1: The Beginning of Bitcoin 

Bitcoin is growing at a very rapid rate. Currently, numerous cryptocurrencies are unregulated, creating a vast redistribution of wealth scenario never before seen. The history of cryptocurrency is vital knowledge for anyone expecting to join the few that will use this opportunity to generate wealth. 

On August 18^th, of 2008, Bitcoin.org domain was registered. Two months later, a white paper titled Bitcoin: A peer-to-peer electronic cash system created by Satoshi Nakamoto was published to the domain. The paper provided an account of how the peer-to-peer cash system would work to make payments easy, direct, and instantaneous. 

This unregulated digital currency has moved from about $0.14 a few months after creation to more than $10,000 in the last quarter of 2017. 

Lesson 2: Bitcoin Development 

In January of 2009, Nakamoto developed the Bitcoin software as open-source code; this marked the true beginning of Bitcoin.

Nakamoto then mined the first block on the Bitcoin network; referred to as the genesis block. The first supporter of the Bitcoin network was Hal Finney. 

Finney, downloaded the software the same day it was released. He was rewarded with 10 Bitcoins. Nick Szabo of bit gold and Wei Dai of b-money were also early supporters. 

It is said that Nakamoto handed the leadership of Bitcoin to Gavin Andresen, a developer. Mr. Andresen heads the Bitcoin Foundation.

Lesson 3: Bitcoin Scandals 

In the year 2011, WikiLeaks, an international non-profit organization that publishes news leaks and classified media provided by anonymous sources, started accepting Bitcoins for donations. Shortly after, Wikileaks was dropped by major financial institutions and payment services. 

It was June of 2011 when Bitcoin saw the first bubble burst; the value of bitcoin fell from $30 to $10 to $3. 

The Mt. Gox Bitcoin exchange was also hacked creating huge losses in Bitcoins. In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy. 

Bitomat was the third largest Bitcoin Exchange; it incurred a loss of 17,000 BTC belonging to its clients. By the end of 2011, another hacking attack on Bitomat was reported and 78,000 Bitcoins were lost. 

Not long following these attacks, Silk Road, an illicit marketplace for drugs, started accepting payments in Bitcoin. The reputation of Bitcoin suffered due to this involvement at a time when it was hoped to reach more people. 

Lesson 4: TradeHill Bitcoin Exchange 

TradeHill Bitcoin Exchange, also called TradeHill, shutdown at the beginning of 2012; and permanently closed in August 2013. TradeHill was one of the first Bitcoin and cryptocurrency exchanges. It was launched in June 2011 by Jered Kenna. 

TradeHill sued Dwolla, another Bitcoin exchange. During the same time a Bitcoin exchange called Bitcoinica was hacked and they loss more than 43000 Bitcoins. 

Government concerns, leaked in an FBI report, were that Bitcoin was becoming a tool for drugs and weapons sales; another fear was that due to the payments being fully anonymous, terrorists could benefit by using the network for funding purposes. 

The shutdown of Bitcoin Savings and Trust, after it was declared a Ponzi scheme in 2012, substantially decreased the value of Bitcoin and almost destroyed it. The hacking of the Bitfloor Exchange added to the uncertainty. 

A hacker stole almost 120 thousand bitcoins from a cryptocurrency exchange called Bitfinex, in August of 2016. 

More recently, in 2022, Ilya Lichtenstein, 34, and Heather Morgan, 31, were charged with attempting to launder billions of dollars in Bitcoin. 

Lesson 5: Rapid Growth of Bitcoin 

The early years were very volatile for Bitcoin; it took a true test of time to get to the high prices and respect it has today. 

Although it may be disputed by some, it is well documented that the first Bitcoin bank was established December 2012. Bitcoin-Central, a Bitcoin exchange, partnered with French bank Credit Mutuel to operate the bank. 

In essence, they were legally able to carry out the functions of a payment service provider (like PayPal, Stripe, or Braintree). 

By 2013, many well-known companies started accepting Bitcoin for goods and services. Pizza Hut and Domino’s began accepting Bitcoin for pizza and other foods. 

Online gambling sites also started accepting Bitcoin. Other companies, like the Internet Archive, an American digital library with the stated mission of "universal access to all knowledge", and Kim Dotcom, a German-Finnish Internet entrepreneur and political activist, started conducting business using Bitcoin.

At the close of 2013, Bitcoin broke records; in November and December of that year, the price peaked out at $1,100. This was a bull run, and Bitcoin's market cap exceeded $1 billion for the first time. 

Between 2014 and 2016, more exchanges and companies started accepting Bitcoin (abbreviated as BTC or, more recently, as XBT); this growing acceptance increased its leverage. 

Lesson 6: TeraExchange 

Microsoft began taking Bitcoin for Windows and XBOX software. 

In 2014, Commodity Futures Trading approved TeraExchange to offer its products for Bitcoins; this was a major boost for Bitcoin. 

From 2016 to the fourth quarter of 2017, Bitcoin’s value sky rocketed to more than $10,000, making Bitcoin the largest cryptocurrency by market capitalization and value. 

The rapid growth of Bitcoin is causing governments to pass legislation targeting cryptocurrencies; the growth of Bitcoin is expected to continue at a fast pace. 

Lesson 7: Bitcoin Creator 

It is known that Satoshi Nakamoto was the founder of Bitcoin. But there remains a mystery as to who exactly is Satoshi Nakamoto. 

Satoshi vanished after mining the genesis Bitcoin block and releasing the white paper. Not much at all has been heard from him since. 

Upon examination, the word ‘Satoshi’ means very clear thinking, and ‘Naka’ is a medium or relationship, while ‘Moto’ means origin. 

It has become clear that Satoshi Nakamoto does not represent the name of a person; but, is a pseudonym of a group or an individual. 

A Satoshi Nakamoto, a cryptographer in Dublin, is included as a person thought to be the Satoshi Nakamoto associated with founding Bitcoin. Others who have been thought to be Satoshi include Jed McCaleb, Charles Bry, Martii Malmi, and Neal King; they all deny being Satoshi. 

Lesson 8: Satoshi’s Identity Revealed? 

It was May 2nd of 2016 when, as reported on CNBC, an Australian entrepreneur claimed to be the real Satoshi; creator and founder of Bitcoin. His name was Craig Wright. Mr. Wright told BBC that he felt compelled to make things right, after seeing so many false characterizations and myths about his true identity. 

He further revealed that he has been involved in Bitcoin since the beginning and had plans to upgrade and improve the digital currency, based upon his research. 

Lesson 9: Craig’s Proof of Identity 

Craig attempted to demonstrate that he was indeed Satoshi, by signing a message with the keys that were supposedly used to mine the first bitcoin blocks. 

Those blocks were the ones used for sending the 10 Bitcoins to Hal Finney. Finney was the second person to mine Bitcoin after Satoshi. Craig also credited Finney with helping to make the creation of Bitcoin possible. 

Craig’s claim has been met with skepticism by many people who believe he is seeking fame. 

As many more people continue to claim they are Satoshi; we may never know the true identity of Satoshi Nakamoto.