Bitcoin News: From the creator of Bitcoin to the first transaction, know it all


CBS has just aired a Bitcoin-focused 60 minutes where Anderson Cooper featured his interviews with several important individuals who have ridden the digital currency’s roller coaster over the last decade.

These personalities include BitInstant founder and Winklevoss Twins collaborator Charlie Shrem, Genesis Mining head and cryptocurrency entrepreneur Marco Streng, MIT Media Lab’s Digital Currency Initiative’s Neha Narula, and Federal Reserve Governor Lael Brainard.

The 60 minutes episode of CBS is a popular TV program known for covering key trends and tough issues.

First BTC millionaires

The first interview was made with 29-year old Syrian Jewish Shrem who lives in Brooklyn, NY. He started its business BitInstant in 2011. It allowed individuals to purchase (BTC) instantly with dollars during the time when interest in cryptocurrency was just starting

He shared that the business took off “almost instantly”.

“I had $1,000 that I threw into it, that was my own money. And then within days, it was getting crazy. And I had my bar mitzvah money that I wanted to use,” he said.

Tyler and Cameron Winklevoss of Facebook fame became BitInstant’s major investors within one year of its operation. Two years later, Shrem was declared as among the first millionaires of BTC with a net worth of up to $45M.

Narula commented that one outstanding feature of BTC system that gained the trust of investors is the recording system called the blockchain which keeps track of who owns what.

“The idea behind the blockchain is that it’s everywhere. And everyone can look at it and verify it for themselves. And so what this means is that you get this sense of trust. You get this sense of security because everyone’s watching,” she said.

First Bitcoin transaction

Hanyecz is a computer programmer rewarded by BTC founder Satoshi Nakamoto’s software in 2010 for helping to maintain the cryptocurrency’s network with some bitcoin. Since there was not much he could do with it, he posted a post over a chat forum wondering if anyone could buy him some pizza in exchange for 10,000 bitcoins.

Somebody responded positively which made it the first real-world transaction involving cryptocurrency.  The years that followed saw some merchants starting to accept it and BTC trade made possible. The rest is history

Check out more key takeaways from CBS’ Bitcoin-focused 60 minutes here. According to reports, the TV program attracts almost 12 million weekly viewers.

Australian voters can face consequences if they don’t turn up for the polls

Previous article

Did Game of Thrones Season 8 Episode 6 end well for the fans?

Next article

You may also like

More in News