Gabriel Delgado

HISTORY OF BITCOIN

The equation begins with identifying the anonymous person and / or group who is deemed the founder of bitcoin and the establishment of the creation of the peer-to-peer network to support the new cryptocurrency. The artist identifies the idea of decentralized digital currency, the ISO codes, the proof of work properties, as well as the historical contexts of its creation with the initial “Genesis Block”.

The second part of the balanced equation continues the evolution of the Bitcoin from the first commercial use for the order of Papa John’s Pizza and the early proof of concept to the reality of black-market transactions which established the role of the bitcoin early in its conception to buy drugs, arms, porn and other illegal items on the black market.

The artist also touches on the reality of the cap market for Bitcoin, the hacks that have affected its status, and pitfalls of Bitcoin, as well as the influence of Elon Musk’s tweets on its value. Financial demarcations are established with the date of the “Genesis Block”, the current Bitcoin market value, the lost bitcoin from online transactions to the % of increase from outside influences.  

The equation reads left to right in the conceptual and hypothetical scenario of solving the equation to understand the narrative through the mathmatical Order of Operations.