Black Metal started in 1982, as the Speed/Heavy Band Venom released their "Black Metal" album, a roughly produced, Motorhead influenced full of speed metal album which took simplistic lyrics of Death, Hell, Satan and sometimes plain drunk fun and made badly timed, simplistic riffing with agressive vocals. (gotta love it).
From that point, some bands emerged which were nowhere to be linked together except for their themes about Satan, anti christianity and fantasy tales regarding death, graveyards and stuff.
Bands like 1981's Mercyful Fate (Heavy Metal), specially with their release "Melissa" (1983) and "Don't Break The Oath" (1984); 1983's Bathory, featuring the infamous Quorthon (Ace Borje Fosberg), most specially with releases like "Bathory" (1984), and "Under The Sign Of The Black Mark" (1987). And 1984's Celtic Frost, with their ever popular release "To Mega Therion" (1985) and their debut album "Morbid Tales" (1984).
The style these bands took was nowhere near similar, but it was all classed as Heavy Metal. They were later discussed as Black Metal because of the lyrical content explained above.
These bands gave influence to the creation of a new wave of Black Metal led by Mayhem (bandname based on Venom's "Mayhem With Mercy"
wink and their 1987 E.P. "Deathcrush", in which they were markedly influenced by all the previous bands, taking the raw riffing from Celtic Frost and Venom, and the shrieking vocals and satanic messages of Bathory, to produce a minimalistic sound.
The Black Metal style of the "second wave" got standarized as fast picking, insanely fast tremolo riffing and blasting drumwork with satanic lyrics delivered in various styles of shrieks and growls.
Other Black Metal bands took a more symphonic stand on the process (Emperor and early Dimmu Borgir), to create a more accessible sound.
There existed in the early 90's an almost mafia like group of Black Metal bands formed by members in Emperor, Mayhem, Darkthrone and Immortal (all founding fathers of the second wave), which comited crimes against christianity such as the most infamous of these actings , the church burnings in Norway (where the 2nd wave originated). It is also known that one of the members of this organization murdered an homosexual man. Some of these bands standed on their own views of Nietzscheism, Satanism and Nazism.
Nicknames are also important on Black Metal, even if the trend was created jokingly by Venom, which on their album "Black Metal" holded the following lineup:
Chronos - Dynosaur Destroyer Bass & Vocals (Bass and Vocals)
Mantas - Chainsaw Guitar (Guitars)
Abaddon - 123 Inter-City Express (Drums)
The instrument name-calling was mainly adopted by Cradle Of Filth (arguably, a Gothic Metal band).
Many bands have taken black metal as a crossover style, to create different and innovative music (Thrash + Black = Destroyer 666) (Black + Folk = Finntroll) (Industrial/Electronic + Black Metal = ...And Oceans)
There is supposedly now a third wave of Black Metal, which holds a much more melodic style and have it's base in France, originated by Blut Aus Nord. And other bands like Ukraine's Nokturnal Mortum.
Extras
-Pioneers of the First Wave: Venom, Mercyful Fate, Celtic Frost, Sodom (first album)
-Pioneers of the Second Wave: Mayhem, Darkthrone, Immortal, Emperor, Burzum
-Bands worth noticing: Blut Aus Nord, Graveland, Absu, Nokturnal Mortum, Naglfar
-Sample: Click
here to listen to a Black Metal sample
-Sample Details: Immortal - "Blashyrkh (Mighty Ravendark)", from "Battles In The North" album