We are in 1999 a Document is leaked in the web written by Wei Dei no one gives a big attention to it , 2005 Nick Szabo describes a system for the decentralized creation of unforgeable chains of proofs of work, with each one being attributed to its discoverer’s public key, using timestamps and digital signatures. It is said that these proofs of work would have value because they would be scarce, difficult to produce, and securely stored and transferred. Szabo’s theory of the economics of such money is described in the linked article on the origins of money .
In 2008, Satoshi Nakamoto posted a paper describing the Bitcoin protocol on the internet . Again In 2009, the Bitcoin network came into existence with the release of the first open source Bitcoin client and the issuance of the first bitcoins .BitcoinTalk forum was the first place were the currency value was discussed some says that 10 000 BTC equals a pizza or a Strabucks gift card …
The processing of Bitcoin transactions is secured by servers called bitcoin miners. These servers communicate over an internet-based network and confirm transactions by adding them to a ledger which is updated and archived periodically using peer-to-peer filesharing protocol. In addition to archiving transactions, each new ledger updatecreates some newly minted bitcoins. The number of new bitcoins created in each update is halved every 4 years until the year 2140 when this number will round down to zero. At that time no more bitcoins will be added into circulation and the total number of bitcoins will have reached a maximum of 21 million bitcoins. To accommodate this limit, each bitcoin is subdivided down to eight decimal places; forming 100 million smaller units called satoshis per bitcoin.