Since the start of the Internet age, businesses have bitcoin alcohol this worldwide platform to sell their products to an ever-increasing share of the world’s populace. Most of us have bought items off the Internet using credit cards or bank accounts. But over the years, developers have tried to find a way to create a unique currency just for the digital marketplace.
In 2009, they did with the introduction of Bitcoin. On May 18, 2010, Laszlo Hanyecz posted on a forum for Bitcoin: Bitcoin Talk. At the time, Bitcoin was still in its infancy. It was incredibly volatile, and each Bitcoin was worth only a few pennies on the dollar.
Hanyecz’s post was for two Papa John’s pizzas that he said he would pay 10,000 bitcoins for. This transaction would go down in Internet history as the first time that Bitcoins were actually used to buy something. On May 22, Hanyecz posted that someone had taken him up on the offer. At the time, he just thought it was cool that he could get pizza for seemingly nothing. Hanyecz continued to buy pizza with Bitcoins until the summer when he ran out of Bitcoins.
For the next few years, it seemed that what everyone thought about Bitcoin was true. But in 2013, investors and speculators became interested in Bitcoin and began to trade it on a much larger scale. Soon, the value of Bitcoin began to skyrocket as it became a popular commodity. For those unaware of the Silk Road, it served as a way for anonymous Internet buyers to order illegal drugs. Named after the famed trade route between Europe and the Orient, it operated clandestinely from its conception until it was taken down in 2013 after an intensive investigation by various government agencies. One of the keys to the Silk Road’s success was the use of a completely anonymous form of payment: Bitcoin.
Due to the nature of its operations, the Silk Road could only be accessed through the Tor anonymizing network. Once you entered the Silk Road, you could buy drugs from cocaine to LSD along with other items like fake IDs, stolen credit card numbers, and hacking tools. Law enforcement couldn’t penetrate the Silk Road because of its savvy users. The Tor network blocked out any digital identification, and the use of Bitcoins only led to certain IP addresses which provided little to no real information.