Happy Birthday Bitcoin Whitepaper, twelve today, and going stronger than ever. Twelve years ago today someone going by the name of Satoshi Nakamoto published a whitepaper that would start the Bitcoin journey.
31st October 2008 was the height of the worst financial crisis since the Great Depression, and Satoshi had been quietly working on a new computer program that would rock the world.
The whitepaper was distributed via the Cryptography Mailing List, a service run by a group of cypherpunks.
In the whitepaper, it was clear Satoshi was concerned about unreliable central control of the monetary policy, the financial industry, and our dependence on them.
Satoshi’s solution was an ‘electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.’
It was also a breakthrough solution to the double-spending problem for a digital currency. It offered for the first time a peer-to-peer currency that would circumvent governments, transcend borders, and be accepted globally. Read More