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Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc.
There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”.
The First Digital Currency White Paper — Bitcoin White Paper
On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then.
A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin.
In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market.
The First Public Bitcoin-Physical Transaction — Pizza
Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value.
Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin.
This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza?
The First Digital Asset Exchange — Bitcoinmarket.com
After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk.
In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0.
On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend.
The First Generation of High-Performance Miner — ASIC Miner
When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts.
In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs.
At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”.
In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network.
At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history.
It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era.
The Birthplace of China’s Bitcoin — Garage Coffee
It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to.
Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry.
▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview.
Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways.
The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead.
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We’re close to capping the first half of the year, but we assure you that Pundi X has barely scratched the surface in terms of what we can offer in 2019. A lot of works are in progress which we will announce when ready. Nonetheless, we have achieved some very promising milestones for the past few weeks, further highlighting our commitment to bringing easy payments and unparalleled crypto experience to our clients. More product enhancements, merchant activation, greater engagements, and higher security standards — these are what we have delivered last month.
Product DevelopmentXPOS certified by FCC and KC
We are proud to announce that XPOS received certifications from the Federal Communications Commission (FCC) and Korea Certification (KC), on top of the certification it has already received from CE and TRA. These certifications will certainly help build XPOS a trustworthy blockchain device as these markings indicate that from a safety and environmental protection perspective the XPOS can confidently be used by their customers.
Pundi X Open Platform is available for token listing from May 11
At the beginning of the month (1st May) we’ve launched Pundi X Open Platform that allows blockchain developers or businesses to sign up for a developer account to list their ERC20 tokens throughout XPOS, XWallet and XPASS. Not only that, now the developers have the option to create customized XPASS cards. To learn more about how to list on the Open Platform, you can read the instruction here.
NPXS buy back to incentivize quality blockchain developers to list on the Pundi X Open Platform
After announcing Pundi X Open Platform, the team has allocated the tokens from the Partnership Reserve Fund (PRF) to encourage good blockchain projects to list on Pundi X payment platform by subsidizing their initial liquidity pools. The source of PRF is the NPXS that we buy back from the open markets. On May 20, we executed NPXS buybacks equivalent to 500 ETH at around $0.00072 dollars on May 20, 2019.
This month we continue improving XWallet by adding more features and support. Here is a list of improvements we made in May:
We’ve also working hard to make XWallet app on more platform. It is now available on Samsung Galaxy Store.
You can use XWallet app for not only topping up and paying cryptos instantly with XPOS merchants across 30 countries but also sending tokens to any XWallet user in the world without fee when the receiver uses the ‘Collection’ feature. Most of XWallet users are also using staking feature from both XWallet and their own ERC20 private wallets to get FX tokens.
As of today, XWallet has more than 200,000 registered users and growing.
Merchant Adoption and XPOS partner updateDoshEx brought crypto payment to coffee shops in South Africa
Dosh Exchange is now expanding their XPOS footprint to coffee shops in South Africa. Pundians can now enjoy the best coffee in town using XPOS. XPASSes can also be bought in-store and used at the counter immediately.
iBank introduced Cao Jun XPASS card during New York Blockchain week
Limited editions of Cao Jun XPASS card powered by Pundi X and IOST have made its first appearance during a Night at BlockchainImpact event on May 15 during the blockchain week in New York. The cocktail gathered Limited Partners (LPs) and General Partners (LPs), family offices, corporate investment offices, and individuals for networking opportunities and blockchain investments. To get the limited editions of CaoJun XPASS cards, you can order them at https://www.ibankdigital.io/ibankxpass
Pundi X and BlockVibe
Thanks to BlockVibe’s cryptocurrency savvy members, Pundi’s XPOS system will now be available in more businesses in the future. This new partnershipwill not only bring cryptocurrency closer to becoming a mainstream form of payment, but will also cement Pundi X’s crucial role in helping realize this possibility.
BlockVibe has successfully held an event on the Korean American Chamber. In this event, XPOS has been introduced to the participants. In the near future, there will be more and more XPOS merchants activated by BlockVibe.
Bit2Big in Blockchain Summit Nigeria
On 24th May, the CEO of Bit2Big and blkchainafrica, Mr Kiberu Nagenda was presenting at BlockchainSummit Nigeria. Summit participants can also experience the transaction via XPOS devices.
Pundi X EventsPundi X at the BitConfBR in Sao Paulo
Pundi X Brazil team had an action-packed weekend at BitconF held from 6 to 9 May. Attendees headed to our stand and top up cryptos in their XPASS cards and XWallet, while learning more about our company and our advanced XPOS technology.
La Conexion Conference in Medellin
During 21–22 May 2019, Brazil Country Manager of Pundi X Joao Victor Mendes attended the La Conexion Conference held at Country Club Medellin, Colombia. Joao discussed the adoption of digital assets and their direct impact on the retail industry, in light of the huge potential for blockchain development in Latin America.
Keynote at Blockchain Finance Conference, APAC in Singapore
On May 8 2019, Vic Tham, CEO of Quantum Energy Asset Management and Chief Investment Officer of Pundi X Labs was a speaker at Blockchain for Finance Conference, APAC. Vic Tham has delivered keynote regarding investing in Blockchain or Fintech startups.
Bitcoin Pizza Day
On 22 May 2010, programmer Laszlo Hanyecz bought two pizzas for 10,000 bitcoins. Known as the first real-world transaction with bitcoin, this event paved the way for greater exploration into the world of crypto payments. To learn more about the history, you can read the revolution of cryptocurrency payment at CoinMarketCap.
Pundi X is grateful to be a part of this massive revolution, and of course we celebrated the day by satisfying some Bitcoin Pizza Day-induced cravings. We partnered with Papa John’s in Seoul and offered pizza discounts to anyone who used their XWallets to purchase from the store as well as hosting a 24 hour online XPOS flash sale.
XBlockchain Meetup in Seoul
The following day in Seoul, we held an XBlockchain Meetup with Function X Foundation and Dapp.com. In the meetup, we have shared the update and ongoing R&D progress, including upcoming integration with Binance Chain and new social networking service on Function X ecosystem, FX Thread (code name). XWallet users will be the first to preview and test this service before the launch of XPhone.
David Ben Kay, Chief Legal Counsel of Pundi X, has officially onboard to lead Function X Foundation. He shared the foundation vision and status of Function X development in this meetup.
InnoVEX Forum in Taipei
On May 30, I had the honor to be invited to deliver keynote about blockchain for smart payment at InnoVEX, one of Asia’s leading startup platforms in conjunction with Computex 2019 and later participated the panel led by Jason Hsu, Taiwan’s Crypto Congressman with Dominik Schiener from IOTA and Jeff McDonald from NEM Foundation.
Pundi X joins the Blockchain Collaborative Consortium in Japan
Japan-based Blockchain Collaborative Consortium (BCCC) welcomed Pundi X on 27 May, in a step for us to engage Japanese institutions and regulations and develop awareness around blockchain. According to BCCC, they promote the widespread adoption of blockchain technology, particularly through the acquisition of latest information and basic knowledge of blockchains, training of engineers and planners, formation of network willingness of practical experiments and implementation, and the implementation of blockchain related business to be widely notified to the market and the adoption of blockchain to various businesses.
The crypto space in Japan is growing at a desirable rate, and we are hopeful that Pundi X will be one of the frontliners in helping BCCC achieve its goals.
NPXS token removalhttps://preview.redd.it/xhwud1tuhv231.png?width=699&format=png&auto=webp&s=ae5b9e62f58668d382d89557da1ec0f6ef4aa30a
Pundi X team has executed the token removal as planned on May 11, 2019. A total of approximately 14.5 billion (7.59 billion of NPXS and 6.95 billion of NPXSXEM) have permanently removed from the supply. You can check the details here.
Monthly unlock token mechanism is completedThe monthly unlock tokens came to an end on May 31 as announced. The team will complete the last batch of unlock NPXS and NPXSXEM by mid June. After that, there will be no monthly unlock tokens.
For the KYC verified NPXS/NPXSXEM XWallet users, don’t forget you have the option to hold your NPXS/NPXSXEM to stake for FX tokens till March 19, 2020.
That’s all for the highlights of Pundi X Insider in May. Hope you enjoy our progress. I look forward to sharing our next update in June!
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News by Cointelegraph: Jinia Shawdagor
Earlier on, when Bitcoin (BTC) arrived on the scene, most cryptocurrency enthusiasts held on to their coins, as there were only so many places they could be spent. Nowadays, the list of marketplaces and retailers accepting Bitcoin and other cryptocurrencies is significantly larger, providing crypto enthusiasts with more options for making real-world purchases.
After all, with recognizable organizations like Microsoft and Wikipedia now accepting Bitcoin as payment, conversations about Bitcoin and the power of cryptocurrencies are becoming more prominent.
Currently, several fast-food restaurants and coffee shops have started accepting Bitcoin as payment. This will likely provide traction for mass adoption as cryptocurrency payments become increasingly commonplace in day-to-day purchases.
Granted, there are some jurisdictions that do not consider Bitcoin or any other cryptocurrency as legal tender. Despite this set back, even big tech companies like Facebook are coming up with payment systems that mimic cryptocurrencies.
Here are some of the leading retailers, merchants and companies that will let you book flights and hotels, buy coffee or pizza, or even go to space with crypto.
Pay for a burger in Germany with cryptoThe German branch of fast-food restaurant chain Burger King now claims to accept Bitcoin as payment for its online orders and deliveries, but this is not the first time Burger King has warmed up to Bitcoin as a form of payment.
The company, headquartered in Florida in the United States, had its Russian branch announce in 2017 that it would start accepting Bitcoin payments, but it ultimately did not take off. The global fast-food retailer reports an annual revenue of about $20 billion and serves about 11 million customers around the world. If all its outlets move to accept Bitcoin as payment, cryptocurrency adoption would inevitably spread.
Spend crypto at Starbucks and other placesFor crypto payments to gain traction, merchants need to implement systems that enable swift and easy cryptocurrency spending. Starbucks is one of the companies taking advantage of this concept through Flexa, a U.S.-based payment startup that is helping the cafe giant, as well as dozens of other companies, accept cryptocurrency payments.
The company developed an app called Spedn that enables crypto holders to make purchases with merchants like Starbucks. The company’s CEO believes that by making cryptocurrencies spendable in the mainstream, commerce will realize the full benefit of blockchain technology all over the world.
Crypto enthusiasts in Silicon Valley’s Palo Alto might already be familiar with Coupa Cafe for other reasons apart from its coffee and food. Through its partnership with a Facebook software developer, Coupa Cafe has been accepting Bitcoin as payment since 2013.
Reports show that the cafe received a steady stream of Bitcoin revenue as soon as they started implementing crypto payments — a clear sign of how eager its customers were to pay in Bitcoin. Coupa Cafe is among the few physical businesses in Palo Alto that accept Bitcoin at the moment. The cafe owners believe that their collaboration with the Facebook software engineer will create more traction in terms of Bitcoin adoption.
Buy food with cryptoWith over 50,000 takeaway restaurants listed on its United Kingdom-based site, OrderTakeaways is one of the surest ways to get a pizza paid for with crypto delivered to your doorstep. The company has been accepting Bitcoin payments for online takeout orders since 2018. And other similar services include the Korean platform Shuttledelivery as well as German-based service Lieferando and its subsidiaries in several other countries.
Apart from online orders, crypto can also be spent at a regular Subway restaurants. As early as 2013, several Subway branches started accepting Bitcoin as payment. Now, for a fraction of a Bitcoin, a Subway sandwich can be purchased at select restaurants.
Pay with Bitcoin to tour spaceBesides buying food and inexpensive, day-to-day items with crypto, a trip to space can now be bought with Bitcoin. That’s right. Richard Branson’s space tourism company, Virgin Galactic, started accepting Bitcoin as payment as far back as 2013. Although Branson’s predicted date for the first commercial flight has been pushed back several times, the company achieved its first suborbital space flight last year. Perhaps soon, people will be able to tour the moon on crypto’s dime.
Buy jewelry with BitcoinA brick-and-mortar American jewelry company called Reeds Jewelers accepts Bitcoin for both its physical and online stores. What’s more, if a purchase is worth more than $25,000, the company provides free armored delivery for safety. Other jewelry companies accepting Bitcoin include Blue Nile Jewelry, Stephen Silver Fine Jewelry and Coaex Jewelry, to name a few.
A big advantage of purchasing large ticket items — like a diamond — with crypto is that it makes moving around large amounts of money cheap and effortless. Reports show that more Silicon Valley investors are buying jewelry with Bitcoin. Last year, Stephen Silver Fine Jewelry reported a 20% growth in crypto transactions, leading to a boost in the company’s sales. The company has been accepting Bitcoin since 2014.
Send and redeem gift cards with BitcoinGyft, a digital platform that allows users to buy, send and redeem gift cards, was one of the first merchants enabling cryptocurrency adoption to gain traction in the real world. The mobile gift card app allows Bitcoin to be used to purchase gift cards from several retailers, some of which include Burger King, Subway, Amazon and Starbucks. The company has also partnered with popular crypto exchange Coinbase to enable users to buy gift cards from their Coinbase wallets.
Travel and pay in BitcoinIf a traveler only has Bitcoin at their disposal, the following merchants will gladly offer services in exchange for it. TravelbyBit, a flight and hotel booking service, accepts cryptocurrencies like Bitcoin, Binance Coin and Litecoin (LTC) as payment.
With a network of over 300 crypto-friendly merchants, the platform is one of the biggest supporters of crypto adoption. TravelbyBit can also alert you to upcoming blockchain events in order to interact with other crypto enthusiasts from around the globe. Other platforms to book flights with crypto include Destinia, CheapBizClass, CheapAir, AirBaltic, Bitcoin.Travel and ABitSky, among others.
Use crypto to book a five-star hotel in ZurichIf ever one finds themselves traveling to Zurich Switzerland, either BTC or Ether (ETH) can be used to pay for a stay in a five-star hotel in Zurich. In May 2019, five-star hotel and spa Dodler Grand announced that it will start accepting Bitcoin and Ether as payment.
The hotel has partnered with a fintech firm Inacta as well as Bity (a Swiss-based crypto exchange) to facilitate the payment and conversion of crypto to fiat money. The hotel boasts an amazing view of the Swiss landscape among other enticing amenities that come with a five-star hotel.
Pay for electronics and more with cryptoFor all the gadget lovers, there are a bunch of platforms that allow electronic purchases with cryptocurrency. Newegg, for instance, is an electronic retail giant that uses BitPay to process payments made with digital currencies. Even though one cannot get refunds for Bitcoin purchases, Newegg has a good reputation for quality items.
Plus, the company boasts its being among the first merchants to support cryptocurrency adoption. Other platforms for gadget junkies include Eyeboot (a platform that sells crypto mining rigs in exchange for crypto), Microsoft, FastTech and Alza (a U.K.-based online store that sells phones and beauty products).
An ever-expanding listIt seems clear that more retailers are warming up to the idea of accepting cryptocurrencies. There is still a long way to go before full adoption can be achieved, but many companies have nevertheless benefited from being early adopters. Despite the volatile price movements of cryptocurrencies, all evidence points to a future cashless society that uses digital currencies, and crypto is leading the way.
Did someone order Pizza? 10,000 Bitcoin BTC For Two Pizzas in 2010 Now Worth $90,000,000. Ten years ago on the 22nd March 2010, computer programmer Laszlo Hanyecz made history when he bought two pizzas using Bitcoin (BTC). He completed the very first documented commercial Bitcoin purchase. He paid 10,000 BTC for two Papa John’s pizzas. Valued at $41 at the time. It’s crazy to think that at ... The event is widely seen as the first occasion that Bitcoin was used to purchase physical goods. In a New York Times statement Hanyecz said; It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool -No one knew it was going to get so big. May 22nd First online purchase using bitcoin. Laszlo Hanyecz (indireclty) buys Papa John's pizza for 10,000 coins (25 USD – Bitcoin value was 0.0025 cents for 1 coin). July 11th Bitcoin v0.3. is mentioned on news website Slashdot.org. The number of bitcoin users increases significantly. July 12th Bitcoin exchange rate increases 10 times in ten days, from 0.008 USD per BTC to 0.08 USD per BTC ... Laszlo Hanyecz, the man that completed the world’s first documented Bitcoin (BTC) transaction for a physical item in 2010 — 10,000 BTC for two pizzas — has now bought two more pizzas using the Bitcoin Blitznetzwerk.. Hanyecz posted on the Lightning-dev mailing list heute, Feb.. 25, that he had to get his friend in London to “sub contract” out the pizza delivery to a local pizza place ... Regarded as the first bitcoin purchase for real world goods, the May 22, 2010 transaction has entered crypto folklore. Laszlo made the supreme sacrifice, we are told, paying the modern equivalent of $45 million per Papa John’s pizza to kickstart the bitcoin economy. Mass adoption of bitcoin soon followed, the legend of Laszlo was sealed, and the rest is history. Only it didn’t quite happen ... Bitcoin Pizza Day is the annual celebration of the first known Bitcoin transaction for a physical product. On 22 May 2010, a young US engineer and crypto enthusiast, Laszlo Hanyecz, paid a fellow user a staggering 10,000 BTC for 2 Papa John pizzas. Laszlo Hanyecz, the man that completed the world’s first documented Bitcoin (BTC) transaction for a physical item in 2010 — 10,000 BTC for two pizzas — has now bought two more pizzas using the Bitcoin Jaringan Petir.. Hanyecz posted on the Lightning-dev mailing list hari ini, Februari. 25, that he had to get his friend in London to “sub contract” out the pizza delivery to a local ... Today marks the 10th anniversary of Bitcoin's first official commercial purchase. On May 22, 2010, programmer Laszlo Hanyecz completed the first documented commercial Bitcoin purchase, paying 10,000 for two Papa John's pizzas. Valued at $41 at the time, current market pricing today gives the purchase a $92.5 million price tag. One might logically wonder what happened to the 10,000 Bitcoin (BTC ... People are celebrating May 22, 2020 as the “Bitcoin Pizza Day” by eating Pizzas following the tradition of a man who purchased two Pizzas with Bitcoin ten years ago on May 22, 2010. This was the firs-ever real-world purchase that was made with Bitcoin in the entire history of Bitcoin. This is actually the tenth anniversary of the first Bitcoin transaction that people are celebrating. The ...
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