“ 2010 - Satoshi decentralizes Bitcoin by leaving his leadership role as creator and never commenting on its development again. The Bitcoin community organizes itself and evolves into a new kind of global institution.
2011 - The Silk Road demonstrates one of Bitcoin's greatest virtues. It cannot be censored or confiscated. One drawback? It's not private. The Mt. Fox fiasco highlights infrastructure deficiencies; the lack of secure custody standards; and the systemic risks posed by the exchange.
2012 - BIP23 formalizes the concept of mining pools , an emerging structure that further decentralizes power structures in Bitcoin. BIP32 introduces HD keys and sets a new standard for Bitcoin storage and user onboarding via more secure wallets.
2013 - BIP39 introduces Mnemonic Keys for Bitcoin. For the first time in human history, you can store your wealth in your brain by memorizing 12 words. No central intermediaries required.
2014 - BIP42 makes it impossible for Bitcoin 21M cap to be violated by continuous mining. Minning is industrialized and the hash value exceeds 100 PH / s for the first time. Meanwhile, experts claim Bitcoin is dead and the future is "Blockchain, the miraculous database"
2015 - On-chain volume reaches an all-time high and tensions are visible. Power structures in Bitcoin are tested with 9 competing GDPs to increase block size. We faced the question: who controls Bitcoin? Miners? ❌ developers? ❌ personalities? ❌ users ✅
2016 - "The Bitcoin Lightning Network" is published. As the risks of on-chain scaling become clear, promising alternatives like Lightning show that a multi-layered, backward-compatible approach to technological innovation is possible.
2017 (a) - The global speculative bubble brings Bitcoin to the masses. Orange Bs are everywhere to be seen. Infrastructure is being pushed on all fronts. Custody, markets, wallets, education. Bitcoin is becoming a liquid commodity worldwide.
2017 (b) - One of the most important events in Bitcoin history also takes place in '17: the SegWit2X fork. There is an attempt to outsmart Bitcoin with a lot of enterprise support: the ultimate stress test of Bitcoin governance USAF confirms that users are the ones in charge
2018 - "Enterprise Blockchain" is now a sad meme. The ecosystem outside of Bitcoin faces a number of hard lessons: Scaling is difficult, governance in the chain is flawed, deployment takes time, and you may have broken the law. Institutions are converging on BTC.
2019 - Bitcoin is now a movement with representatives everywhere; in media, government, traditional finance, tech. It's like Fight Club, but rule #1 just to talk about it. Bitcoin started this decade on the fringe. We now have a Bitcoiner in a U.S. Senate.
Bitcoin was spoiled for choice several times during this decade ... it didn't. Its power structures were tested again and again. Yet here we are. Who would have thought that a leaderless system that converts electricity into money would last this long?
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