Tag: CWD

On November 28, 2012, Bitcoin experienced its first halving, built into the Bitcoin protocol by Satoshi Yakamoto as an effort to control inflation, cutting the reward by 50% for mining new blocks, thereby reducing the supply of new coins coming into circulation in half.

Bitcoin halving events are set to take place once every 210,000 blocks (about every four years), until the maximum 21 million Bitcoins are released into circulation (expected to occur sometime in 2140). With all the hardships miners faced in 2011, people were skeptical about the reaction to the first halving, and what it would do for Bitcoin’s price and popularity. However, cutting the mining reward from 50 bitcoins per block to 25 bitcoins, proved successful. It motivated a massive run on demand, boosting the price from $12.25 on November 28^th 2012 to over $1,012 a year later – a return of more than 8,000%.

This is a 1 /5 Limited Edition NFT. This artwork is limited to only 5 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19.2 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

On November 16, 2012, WordPress became the first major company to accept Bitcoin as payment. Their reason? Bitcoin’s role as a universal currency. “With Bitcoin, we join a new digital economy that doesn’t leave anyone behind, essentially making financial transactions open source — something WordPress.com is behind 100 percent,” wrote Andy Skelton, of WordPress, in a blog post.

At the time, PayPal and many credit card companies restricted transactions in certain parts of the world, due to politics, high criminal activity, etc… “Whatever the reason, we don’t think an individual blogger from Haiti, Ethiopia, or Kenya should have diminished access to the blogosphere because of payment issues they can’t control. Our goal is to enable people, not block them.”

This is a 1 /10 Limited Edition NFT. This artwork is limited to only 10 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19.2 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

Officially formed on September 22, 2012, and announced on September 27^th, in an effort to restore the reputation of Bitcoin after suffering many scandals, The Bitcoin Foundation launched, with a mission to “standardize, protect and promote the use of Bitcoin cryptographic money for the benefit of users worldwide.”

The founding chairman of the board was Peter Vessenes. Gavin Andresen was hired by the foundation as “chief scientist.” Full list of founding members were: Gavin Andresen, Charlie Shrem, Mark Karpeles, Peter Vessenes, Roger Ver, and Patrick Murck.

This is a 1 /10 Limited Edition NFT. This artwork is limited to only 10 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19.2 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

On September 17, 2012, Bitcoin version 0.7.0 was implemented to include several Bitcoin improvement proposals, including reduced CPU usage, by eliminating some redundant hash calculations and signature checks, as well as improvements with the Bitcoin API, P2P networking, graphics user interface, internal codebase, and more.

Contributors to this release:

Chris Moore Christian von Roques David Joel Schwartz Douglas Huff Fordy Gavin Andresen Giel van Schijndel Gregory Maxwell Jeff Garzik Luke Dashjr Matt Corallo Michael Ford Michael Hendricks Peter Todd Philip Kaufmann Pieter Wuille R E Broadley Ricardo M. Correia Rune K. Svendsen Scott Ellis Stephane Glondu Wladimir J. van der Laan cardpuncher coderrr fanquake grimd34th sje397 xanatos

“Thanks to Sergio Lerner for reporting denial-of-service vulnerabilities fixed in this release.”

This is a 1 /10 Limited Edition NFT. This artwork is limited to only 10 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19.2 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

On August 17, 2012, known initially as “First Pirate Savings and Trust,” a massive ponzi scheme that had been operating for nearly 1 year, crashed and burned. Founder and operator, Trendon Shavers (Bitcoin forum username, “pirateat40”), escaped with 146,000 Bitcoins, worth more than $800,000 at the time. (48 of the 100 investors lost all or part of their investment.)

The SEC arrested him in 2014, charged him with defrauding investors, and in 2016 he was sentenced to 18 months in jail. In addition to the prison term, Judge Lewis A. Kaplan ordered him to pay $1,228,660.93 in forfeiture, and another $1,228,660.93 in restitution.

A civil suit followed, pinning an additional $40 million in disgorgement and prejudgment interest, and a civil penalty of $150,000 related to Bitcoin Savings and Trust.

This is a 1 /10 Limited Edition NFT. This artwork is limited to only 10 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19.2 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

On July 18, 2012, after a six month span of stabilization at around $5.00, Bitcoin soars above $9.00 for the first time in almost a year. Experiencing a 40% increase in the past month, while transaction counts doubled from 10k transactions each day to more than 20k transactions per day, stirred up questions regarding Bitcoin’s newfound public interest.

Vices like pornography and gambling continued being a significant push for its value, but other new uses for the currency continued to unfold. Most notably:

• Coinbase was accepted by Y Combinator startup accelerator program with a mission to make Bitcoin more accessible to the masses.
• A German student built the first Bitcoin vending machine.
• Transactions between Bitcoin and Linden dollars, Second Life’s official currency, grew in volume, boosting Bitcoin’s liquidity during a time when exchanges were facing many legal challenges.

This is a 1 /10 Limited Edition NFT. This artwork is limited to only 10 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19.2 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

On May 12, 2012, Bitcoin was hacked again! One of the first Bitcoin exchanges, Bitcoinica, was forced to shut down, facing $460,000 in lawsuits after having 18,000 Bitcoins stolen.

Although this came as another test of loyaty for the early Bitcoin investors, they didn’t seem to flinch, resulting in the price of Bitcoin remaining steady.

This is a 1 /7 Limited Edition NFT. This artwork is limited to only 7 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19.4 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

On March 30, 2012, Bitcoin updated to version 0.6.0, which included security fixed, more than 20 language localizations, and New Sign Message, creating a digital signature.

New wallets created with this version will use 33-byte ‘compressed’ public keys instead of 65-byte public keys, resulting in smaller transactions and less traffic on the bitcoin network.

Contributors to this release:

Alex B, Alistair Buxton, Chris Moore, Clark Gaebel, Daniel Folkinshteyn, Dylan Noblesmit, Forrest Voight, Gavin Andresen, Gregory Maxwell, Janne Pulkkinen, Joel Kaartinen, Lars Rasmusson, Luke Dashjr, Matt Corallo, Michael Ford, Michael Hendricks, Nick Bosma, Nils Schneider, Philip Kaufmann, Pierre Pronchery, Pieter Wuille, Rune K Svendsen, Wladimir J. van der Laan, coderrr, p2k, sje397

“Special thanks to Sergio Lerner and Matt Corallo for bringing potential denial-of-service attacks to our attention.”

This is a 1 /10 Limited Edition NFT. This artwork is limited to only 10 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 18.4 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

On March 1, 2012, private server network, Linode, was hacked, with thieves stealing 50,000 Bitcoins from wallets of customers including Bitcoin’s lead developer, Gavin Andresen.

This public embarrassment coincided with Mark Zuckerberg’s letter to investors, just prior to Facebook’s IPO, in which he praised “The Hacker Way,” giving a nod and boost the growing popularity of hacker culture.

This is a 1 /10 Limited Edition NFT. This artwork is limited to only 10 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt

On February 18, 2012, bitcoin dipped slightly, one week after the announcement came from Paxum ecommerce payment platform that due to pressure from its banking partners, bitcoin transactions were being terminated “effective immediately.” Citing that they had no choice in the matter, due to new rules that appeared “almost overnight,” this appeared to be a signal that mainstream financial institutions may have started feeling a bit threatened by bitcoin.

Paxum payment platform was known as a payment solution for high risk industries, such as adult entertainment, and they had been been working with bitcoin exchanges for more than a year.

This is a 1 /7 Limited Edition NFT. This artwork is limited to only 7 NFTs available for purchase.

Art details: Original digital hand painted motion art portrait. (Not Computer Generated) The ticker tape displays the historical daily price indexes recorded on this day.

Dimensions: 720 x 1080, 19.8 MB, Duration: 15 seconds

Created with Corel Painter, Adobe After Effects & Adobe Premiere

Artist: Denise Holt