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Read MoreBitcoins by A. Purao
Satoshi Nakamoto began working on the Bitcoin in 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective alias for more than one person. Then, on August 15th, 2008 Neal Kin, Vladimir Oksman, and Charles Bry filed for patent application. All three individuals denied a connection to Satoshi Nakamoto, the alleged creator of the Bitcoin concept. Nearly a year later on August 18th, Bitcoin.org was founded.
The website was registered by anonymousspeech.com, a site that allows users to anonymously register domain names. Anonymousspeech.com now currently even accepts Bitcoins as a currency. On October 31st, 2008, Satoshi Nakamoto published a design paper through a metzdowd.com cryptography mailing list. The paper described the Bitcoin currency as a currency that solves the problem of double spending so as to prevent the currency from being copied.
Nine days later, the “Bitcoin Project” was registered on SourceForge. SourceForge is a web based centralized location for software developers to control and manage free and open source software development. Open source meaning that it is free to download, so some one wrote the computer script, but they are letting you use it for free. This is bad because if something goes wrong you can’t complain to anyone. Exactly two months later the Bitcoin version 0.1 was released. The beta included a Bitcoin generation system that would create 21 million Bitcoins by the year 2040. Then, three days later on January 12th, 2009 the first Bitcoin transaction is made between Satoshi, and Hal Finney, of 170 ‘Blocks’ or ‘Bits’. Harold Thomas Finney II was a developer for PGP Corporation, and was the second developer hired after Phil Zimmermann. In his early career, he was credited as lead developer on several console games, such as Tron,and Spacecraft.
Then, on October 5th, an exchange rate is established in which 1,309.03 Bitcoin was equal to 1.00 USD. After that on February 6th, 2010 the Bitcoin Market is officially established by dwdollar as a Bitcoin currency exchange. The first, real-world transaction using Bitcoins takes place when a Jacksonville, Florida programmer, Laszlo Hanyecz, offered to pay 10,000 Bitcoins for a pizza on the Bitcoin Forum. At the time, the exchange rate put the purchase price for the pizza at around $25 in U.S. currency. Then, a vulnerability in the Bitcoin system that causes Bitcoins to be improperly verified was discovered and exploited, resulting in the generation of 184 billion Bitcoins. On September 6th, 2011 Mike Caldwell began minting physical Bitcoins, naming the coins Casascius Coins.
Bangladesh Blackout by F. Talukdar
On November 1st, An electrical line that ferries energy from India into the neighboring country of Bangladesh failed, and that resulted in a total power cut in Bangladesh for 12 hours. People had to get around by candlelight, all shops were forced to close, and hospitals and airports would have to use backup generators. Regular citizens expressed their concern, and they said that “With the whole neighborhood in darkness, we don't feel safe inside our house either." However, the power outage was fixed in 12 hours, with the blackout lasting from 11 AM to 11 PM.
However, even though Bangladesh has over 160,000,000 people, over 40% of the population doesn’t have access to power from the national power grid, and Bangladesh is a country that, according to Business Insider, will be the 31st most powerful country in the world in 2050. If 40% of the population doesn’t have to electricity, and that 40% is out of 160,000,000 people, how can Bangladesh possibly become so powerful?
As you may recall, last year, a clothing factory in Bangladesh collapsed and killed over 200 people, and that clothing factory made clothes for American factories. In fact, Bangladesh is the place where a lot of your clothes probably come from, because since Bangladesh has such a dense population. It has a growing work force, so even though Bangladesh is a poor nation, in the coming years, its economy will boom, so a country that has to make small power cuts to stay under their budget will be a powerful country in about 40 years, and my relatives who live and work in Bangladesh will have a solid future.