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How Does Bitcoin Work?Bitcoin, the original cryptocurrency, has been on a wild ride since its creation in Earlier this year, the price of one Bitcoin surged to over $60, � The pre-Bitcoin years � � The Mysterious Mr Nakamoto � � Bitcoin begins � � Bitcoin is valued for the first time � �. The first Bitcoin transaction occurred on January 12, , when the anonymous cryptocurrency creator sent 10 BTC to Hal Finney, a computer.