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Bitcoin is the first decentralised peer-to-peer digital currency that operates independently of a central government authority. Invented in the year 2008, Bitcoin is based on the free market ideology published by an entity named Satoshi Nakamoto. The usage began later in the year 2009 as a digital currency with the release of its open-source implementation.The first ever whitepaper called “Bitcoin: A Peer-to-Peer Electronic Cash System,” describing cryptography and digital currencies, was published in 2008 by Nakamoto. What stands independent of any control from a central government authority is now the leading cryptocurrency in the entire crypto ecosystem.
A pseudonymous entity or group of entities under the name Satoshi Nakamoto published a whitepaper in the year 2008 called “Bitcoin: A Peer-to-Peer Electronic Cash System.” This was the year when Bitcoin made a public appearance and was also the start of the Bitcoin network and the decentralised digital currency movement. Even after multiple efforts, the identity remains unknown to date, as Bitcoin is a decentralised digital currency with no control of any governing authority. While the true identity of Bitcoin remains unknown to the world, Bitcoin’s appearance led to the birth of other cryptocurrencies in the ecosystem.
The first Bitcoin block that was mined was in the year 2009. On 3rd January, 2009, the first ever Bitcoin block was mined, which was also known as the genesis block. The Block 0 or genesis block contained the text. Discover more about Satoshi Nakamoto here.
The Genesis block stands as the first block in the blockchain ecosystem. It acts as a foundational block upon which the entire chain is built. Since the genesis block is the first in the chain, it doesn't relate to any earlier blocks like other blocks do. Bitcoin's genesis block, also known as Block 0, was the first block to have the block header hash back in the year 2009. As of July 16, 2025, the Bitcoin blockchain consists of approximately 905,790 blocks.
There’s also a history about Bitcoin’s unspendable block reward - it refers to the 50 BTC mining reward that can never be spent, which was mined from the first block or the genesis block, also known as the Block 0. The 50 BTC with the address (1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) has never been migrated, and most likely it will never be. Most people interpret it as a symbolic gesture that Bitcoin was never created to reward its inventor but rather to develop something bigger, something huge. Uncover the story behind Bitcoin’s first block here.
An event that takes place once every four years, where the block reward is reduced by 50% is the ideal explanation for Bitcoin halving. Think of it as digital gold mine that becomes harder to mine and the reward reduces as you dig deeper. Bitcoin halving is a similar concept. Every 210,000 blocks, the ‘mining’ reward reduces and this creates a sense of digital scarcity which results in the increase of the value of the Bitcoin due to lower new supplies.
The block reward is anticipated to drop to 1.625 BTC in 2028, marking the next halving. 50 bitcoin was the first Bitcoin block reward. Since 2009, there have been four halvings. These dates of halving were:
On November 28, 2012, 25 bitcoins
On July 09, 2016, 12.5 bitcoins
On May 11, 2020, 6.25 bitcoins
On April 20, 2024, 3.125 bitcoins
The 2008 financial crisis bought in a daylight when a A pseudonymous entity or group of entities under the name Satoshi Nakamoto published a whitepaper in the year 2008 called “Bitcoin: A Peer-to-Peer Electronic Cash System.” On January 03rd, 2009, the first ever Bitcoin was mined with a message that indicated a major bank bailout. Later in the year 2010, Bitcoin gained its first ever price tag when 10,000 BTC were exchanged for 2 pizzas from Papa John’s pizzas. Bitcoin’s popularity grew when cyber enthusiasts began to join the digital revolution while Bitcoin’s halving was controlling the supply of its rewards.
Bitcoin transformed from an amateur experiment to a robust digital asset in spite of early setbacks like the Mt. Gox bankruptcy and regulatory opposition.By 2017, Bitcoin had made its debut on the global scene, hitting $20,000 and drawing interest from all around the world. Bitcoin’s journey was no lesser than that of a rollercoaster ride. With the highs and the lows that came its way, Bitcoin gained stability in the recent years making a remarkable price reach of 1,02,39,545.61 INR. Companies like El Salvador acknowledged Bitcoin as legal cash, and businesses like Tesla and MicroStrategy started including it in their balance sheets. Bitcoin's underlying scarcity was strengthened in 2024 when the fourth halving decreased mining incentives to 3.125 BTC. Millions of people now trust Bitcoin as a decentralised, international substitute for traditional finance, and it is more than just a type of digital currency. Read Bitcoin’s full journey here.
Bitcoin mining is the process of validating transactions and adding them to the blockchain. Miners compete using powerful computers to solve cryptographic puzzles and in return, they earn newly minted bitcoins. It’s how the network stays secure and new bitcoins are introduced into circulation.
Bitcoin is not illegal in India, but it is not recognised as legal tender. That means you can invest in it, but you can't use it to pay for goods or services like the Indian Rupee (INR). The regulatory framework is still evolving, but holding and trading Bitcoin is currently permitted.
Bitcoin ETFs (Exchange Traded Funds) are financial products that track the price of Bitcoin and trade on stock exchanges. They let investors get exposure to Bitcoin without directly buying or holding the asset. These are particularly useful for people who prefer traditional investment platforms.
To buy Bitcoin in India, you’ll need to use a cryptocurrency platform that complies with domestic regulations and is registered with the Financial Intelligence Unit (FIU-IND). After completing the standard KYC process, you can deposit Indian Rupees (INR) via bank transfer or supported payment methods, and then place an order to purchase Bitcoin. Most platforms offer user-friendly mobile apps or websites where you can track prices, manage your holdings, and execute trades.
Bitcoin carries risk, like any investment. It’s highly volatile, and its price can swing sharply. That said, many investors see it as a long-term store of value or a hedge against inflation. It’s important to research thoroughly, assess your risk tolerance and only invest what you can afford to hold over the long term.
Profits from Bitcoin are taxed at a flat 30% rate plus applicable cess under India’s crypto tax framework, with 1% TDS on each transaction. Losses from one crypto cannot be set off against any other crypto or income. Make sure to keep records of your trades and consult a tax professional to stay compliant.
Evaluating Bitcoin involves looking beyond price charts. You can assess its adoption, network security, transaction volumes, and on-chain activity. For a fundamentals-first view, focus on usage trends, liquidity, developer activity, and long-term holder behaviour, not just hype or news cycles.
