Though it seems like just yesterday we entered 2014, bitcoin's place in society and the industry as a whole has completely changed throughout this year.
With its current price of $310, buying a bitcoin today costs less than half of what it would have put you back on 1st January ($770), but don't let these numbers fool you.
Outside of its falling price, bitcoin has weathered considerable hardships in 2014, and the industry has subsequently matured as bad actors have been weeded out in favour of more dependable, transparent and legitimate entrepreneurs entering the space with the support of a great deal of venture capital.
To get a better idea of the 'big picture' of bitcoin's evolution throughout the course of the year, we identified the most popular news stories published by CoinDesk in 2014. While these stories don't tell the full story of what happened in the industry this year, they offer a glimpse into the topics that most grabbed our readers' attention.
Here are CoinDesk's top news stories of 2014:
Leading Adult Site Porn.com Now Accepts Bitcoin
The year started off with a bang when news broke that one of the largest adult entertainment sites on the Internet, Porn.com, would begin accepting bitcoin payments for its... content.
In what may be the biggest story of the year in bitcoin, a leaked document published by Ryan Galt revealed that Mt Gox had allegedly lost more than 700,000 of its users' bitcoins, valued at around $350m at press time.
For the cover story of its big return to print, Newsweek enlisted reporter Leah McGrath Goodman to uncover the identity of bitcoin's creator Satoshi Nakamoto in early March. Goodman named California resident Dorian Nakamoto as the mastermind behind bitcoin. However, the story resulted in staunch denials from D. Nakamoto and considerable backlash from the bitcoin community.
As Colorado began selling marijuana for recreational purposes on 1st January, the bitcoin community seemed particularly interested in reading about a marijuana vending machine that announced its plans in April to accept bitcoin for its goods.
In an attack that researchers dubbed 'unprecedented', hackers were able to mine some 500 million dogecoins in mid-June of this year. The value of the DOGE mined in the hack totalled around $200,000 at press time.
Everybody was watching this summer as the US Marshals planned their public auction of bitcoins seized from the Silk Road. When the government accidentally clicked 'reply to all' on an email that included the names of those who planned to bid on the 30,000 BTC, it seems like everybody in the industry was interested in taking a look.
Ethereum effectively built up the anticipation for its long-awaited launch for much of 2014. When the cryptocurrency 2.0 platform launched a pre-sale of its native ether coin in mid-July, fans and followers of the project came out in full force.
After Tim Draper was revealed as the sole winner of this year's first US Marshals bitcoin auction (mentioned above), all eyes in the bitcoin community were on the venerable venture capitalist. Draper's declaration that bitcoin's price will eventually hit $10,000 attracted considerable attention from readers.
MIT, one of the world's most respected academic institutions, was bullish on bitcoin this year. The MIT Bitcoin Project, a club at the university, gave all undergraduate students $100 worth of bitcoin in the fall semester, and the university's research into making bitcoin trading profitable with scientific methods grabbed headlines in mid-October.
Christmas came early for bitcoiners this year, when Microsoft unexpectedly announced on 11th December that it would accept bitcoin as a payment option for a range of digital content, including games and videos on its Xbox Live platform and apps on its mobile platform.
In hindsight, bitcoin has been through considerable ups and downs this year. As we move forward, let's hope that when bitcoin makes headlines in 2015 – it's for all the right reasons.
What was your biggest moment for bitcoin in 2014? Let us know in the comments below.
'News' featured image via Shutterstock
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.