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The Ultimate Guide to Bitcoin™
book

The Ultimate Guide to Bitcoin™

by Michael Miller
October 2014
Beginner to intermediate content levelBeginner to intermediate
240 pages
5h 33m
English
Que
Content preview from The Ultimate Guide to Bitcoin™

3. A Short History of Bitcoin

Virtual Currency Before Bitcoin

Although Bitcoin is the best-known virtual currency, it wasn’t the first. In fact, Bitcoin is just the latest of a multitude of schemes designed to supplement or replace traditional money.

E-gold

One of the first virtual currencies was E-gold, founded in 1996. E-gold was unique in that its virtual currency was backed by real, honest-to-goodness gold bullion. In essence, trading E-gold was basically the same as swapping gold ownership, but anonymously.

At its peak, in 2008, E-gold claimed more than five million user accounts. However, ...

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Publisher Resources

ISBN: 9780133580969Purchase book