What were the precursors of Bitcoin?

Cruz

New member
Bitcoin is often described as the 'first cryptocurrency' in media, but I vaguely remember there was some history before Satoshi's (amazing) implementation.

I remember hashcash (not a currency) which was used to prevent spam way before Bitcoin, and Bitcoin uses its idea.

What were the other attempts at cryptocurrencies or precursors before Bitcoin?
 

Akim

Member
This article should give a pretty comprehensive overview of Bitcoin's foundational predecessors and building blocks:

https://queue.acm.org/detail.cfm?id=3136559

Hashcash's PoW is an important part of Bitcoin's history but it actually goes even deeper than that
Smiley
 

Viktor

Member
Bitcoin is often described as the 'first cryptocurrency' in media, but I vaguely remember there was some history before Satoshi's (amazing) implementation.
I think the point was it was one of the first fairly fully decentralised cryptocurrency to exist.

Hashcash afaik came from 1996 as you say to authenticate real users..

I think there was then another coin released earlier than bitcoin which wasn't decentralised.

HeRetiks link looks really detailed though.
 

Arkadi

Member
If I remember correctly everything started form Bittorrent or rather torrents to be clear. Now Bittorent was taken over by some guys from Tron foundation.
A P2P communication protocol like BitTorrent breaks down the files into pieces and moves them from uploaders (seeders) to downloaders (leechers) via a torrent client a separate program that reads all the information in the torrent file. Sound familiar, doesn't it? Just replace some words and we will get a simple definition for blockchain.
 

Oleg

Member
If I remember correctly everything started form Bittorrent or rather torrents to be clear. Now Bittorent was taken over by some guys from Tron foundation.
A P2P communication protocol like BitTorrent breaks down the files into pieces and moves them from uploaders (seeders) to downloaders (leechers) via a torrent client a separate program that reads all the information in the torrent file. Sound familiar, doesn't it? Just replace some words and we will get a simple definition for blockchain.
i don't see any other relationship between bitcoin and torrent protocol other than both being peer to peer networks. otherwise bitcoin has the proof of work and the blockchain and is a consensus system with cryptography on top all of which are missing in torrent protocol.

BTW Tron owner bought bittorrent client brand name so that he could make a name for himself and gain popularity to later on use it to raise more funds when he started his shitcoin sale fundraising shenanigan
Wink
 

Gennady

Member
Maybe it wasn’t the first to come up with this kind of idea; I have seen people say things like this that there has been others that were created earlier before we had Bitcoin, but none of them were successful. So, what’s the need of counting them if they were not successful?

Bitcoin is the one that came out successful and is now widely adopted more than every other cryptocurrencies there is, so it should be regarded as the first. And another thing I was made to understand from some of the research I have made concerning this is that Bitcoin is the first to be decentralized. There has been other attempts to create cryptocurrency like bit gold and ecash.
 

Nathaniel

Member
Bitcoin is often described as the 'first cryptocurrency' in media, but I vaguely remember there was some history before Satoshi's (amazing) implementation.

I remember hashcash (not a currency) which was used to prevent spam way before Bitcoin, and Bitcoin uses its idea.

What were the other attempts at cryptocurrencies or precursors before Bitcoin?
You can find here a very long and detailed essay of mine, describing all Bitcoin's ancestors: Bitcoin: The dream of Cypherpunks, libertarians and crypto-anarchists. On the second page of posts you can also find a comparison made by me for Bitcoin and all of its ancestors. It was "hand made" to say so, but I think the article can help you understand better all you asked for.
 

Sacha

Member
Because hashcash was before bitcoin it doesn't mean that bitcoin was bornt from hashcash. Bitcoin is a creation that took some important accomplishments back in the 90's and implement them to create a digital currency. Satoshi had referenced to bmoney too. It doesn't make bmoney a cryptocurrency.

Bitcoin was something innovative.

(♫ "Proof of work with all that hash, making us some digital cash." ♪)
 

Anatoly

Member
Maybe it wasn’t the first to come up with this kind of idea
...but it was the first to come up with a solution!
Cool


That is to say, Bitcoin might not be the first digital currency but it's the first cryptocurrency (ie. the first decentralized, counterfeit-proof digital currency).

It's easy to forget these days how big of a deal this was, but there's no precedent for this kind of money before Bitcoin.
 
Top