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Nakamoto created the first Bitcoin on January 3, 2009. Bitcoin was initially mined among tech enthusiasts until the first trading markets for Bitcoin emerged in July 2010, with prices then ranging from US$0.0008 and $0.08. By then, Nakamoto transferred Bitcoin’s network alert key and control of the code repository to Gavin Andresen, who became lead developer at the Bitcoin Foundation. Related Lists Bitcoin's Price Outlook as 'Buy The Dip' Sentiment Prevails
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The operation of the Bitcoin network consumes a substantial amount of energy due to the computational requirements of running the computers responsible for verifying and recording transactions on the blockchain. As the Bitcoin user base expands and more miners participate in the network, the energy demand necessary to sustain the Bitcoin network will continue to rise. Bitcoin Slips Towards $42K as Interest Rates Soar; Chainlink's LINK Defies Crypto Slump Every single bitcoin transaction that takes place has to be permanently committed to the Bitcoin blockchain ledger through a process called “mining.” Bitcoin mining refers to the process where miners compete using specialized computer equipment known as application-specific integrated circuit (ASIC) chips to unlock the next block in the chain.