13 years from today, Satoshi Nakamoto released his Bitcoin whitepaper to claim invented a peer-to-peer electronic cash system. 13 years later, cryptocurrency market capitalization equals a trillion dollars industry. Just a decade, the Satoshi vision had been accomplished and his prediction has exactly happened. What do we need to celebrate and what do we need to be aware of to move forward?
The whitepaper is a technical paper
Bitcoin whitepaper described the technic how a peer-to-peer electronic cash system operated and what technical part of the challenge can be overcome by the what to program.
The electronic operation resembles a gold mining operation
Even though the paper did not specifically call out of gold mining operation, the proof of work did similar energy input and output of the mining operation. The difference is human mining gold to computer algorithm mining Bitcoin.
There are many more unanswered questions
The whitepaper is not the completed document because there are many other questions that did not answer. How the crypto economy will become, how much energy may waste and how to store it safely are among the popular questions yet to be answered and discovered.
Satoshi held Q&A in the forum
Satoshi did appear during and after the whitepaper release and actively participated in the forum to answer questions to users and potential adopters until his disappearance in 2011.
What made Bitcoin successful were not the invention but the concerns had occurred
Satoshi claimed that the central bank would be irresponsible to issue money to inflate the economy and Bitcoin was designed to limit the supply of money.
There are more hidden ideas from the whitepaper
If you read about the history of idea about Bitcoin, there are many versions of digital cash systems invented before Bitcoin and many fail due to technical insufficiency or lack of accountability, or lack of sanction resistance. Bitcoin, on the other hand, created a decentralized and relatively fair system to let all participants involved in the financial system that is transparent, fair, and equal.
What crypto will move beyond this point
Crypto is becoming mainstream more likely and the challenge will persist on such as what if there are domination forces to influence its price and potentially the market may be manipulated. The high transactional fee enforces into users and lack of security to prevent ever sophisticated hacking. Many more challenges will emerge along with the continued improvement of the cryptosystem and many other new types of crypto will invent to resolve those concerns.
In conclusion
13 years of running crypto are long and short. It is amazing that one idea becomes a dominant force of a new industry that is created by someone we may never know who he or she or they are. It marked the beginning of a new way to form a system and work together rather than a government, a corporation, or types of group that controlled resources. Crypto makes resource sharing possible in the fear and square way rather than someone claimed it will become.
Photo by Annie Spratt on Unsplash
Note: the post was shared on multiple platforms.
Related articles to reference here ⬇️⬇️:
-------------------------------------------------------------------------------------
Stablecoin
Stablecoin is Not So Stable
Stablecoin: We Ever Need Them More Than CBDCs
Poker Chips Economy
-------------------------------------------------------------------------------------
CBDC
CBDC: Stablecoin 2.0 or Stablecoin Killer
Chinese CBDC: the Ultimate Financial Weapon or Just another Copycat
CBDC vs Cryptocurrency: the War of Privacy
Game of Three Kingdoms: CBDC vs. Cryptocurrency vs. TechCoin
Why Crypto Got So Political Suddenly: The Beginning Tale of Government Crypto Surveillance Program
CBDC's Cross Border Payments System: Worse than Crypto
CBDC is Likely Only Last for 10 Years
Cryptocurrency Coexists With Fiat From Now On
CBDC: One Currency for All
CBDC Moves to Global
-------------------------------------------------------------------------------------
Defi
DeFi Swap: Great Returns come with Great Cost
Defi: A Rainbow 5-Layers Cake
Robot Sucks: How Lousy Jobs AMMs Did to Ruin the DeFi
Defi Winter: What May Come After the Bubble Pops
-------------------------------------------------------------------------------------
Defi Manual
Defi Manual: Part 1 - Cefi vs. Defi
Defi Manual: Part 2 - Regulations
Defi Manual: Part 3 - Financial Weapons
Defi Manual: Part 4 - Market Manipulation
Defi Manual: Part 5 - Synergies
-------------------------------------------------------------------------------------
Inflation
Inflation vs. Bitcoin: How Speculation to Hedge Inflation has Failed in Short Term but may Create Opportunity in Long Term
Hypothetically, What if the Fed Fails to Control Inflation, Will Crypto Save Us?!
Currency Debasement: Cryptocurrency Inflation Hedge Hypothesis Still Hold
Dream World: When You Own Assets Just Like a Dream
-------------------------------------------------------------------------------------
Gold
Gold vs. Bitcoin: Digital Twin or Enemy
-------------------------------------------------------------------------------------
Volatility
Volatility of Bitcoin: Threat or Opportunity
-------------------------------------------------------------------------------------
Recent News
Lesson Learn from Robinhood IPO: Era of Crypto Exchange Comes to an End or a New Beginning?
City Coins: Are they the Era of New Coins?
The End of Era for Crypto Exchange Platform?!
Crypto Hacking: How Did it Really Happen?
Jack Dorsey’s Ambitious: Twitter wants to Become a Place of Freedom of Speech
Legendary Hacker: the White Hat into the Rescue
The Future of Cardano: as Clear or as Uncleared?
Patent the Blockchain: the Nonsense Action Shows a Worry from Big Tech Companies
Forget about Trade War: New Era of the International Trade
Epic Games vs. Apple: Tech Companies Crypto Adoption May Begin
Litecoin Fake News: How Fake it is?
Robinhood vs. Coinbase: The Future of Crypto Exchanges
What Have We Learn From Twitter Bitcoin Tipping Integration
So the Stock Market is Rigged, Then What?!
What Have We Learned from Facebook Outages
The Fed’s Concern Reveals the Crypto Future
El Salvador’s Bitcoin Adoption Turns Sour
Executive Order Just for the Crypto
JPMorgan Refuses Crypto Future: the End Game of Banks
Russia Changes The Mind of Crypto Imply the Future of Crypto Can Be More Inclusive
PayPal Will Not Become a Crypto Company
The Meta: A Place Where Company Profits from Your Dreams and Memories
-------------------------------------------------------------------------------------
China FUD
China FUD: Are We Done Yet?
Bitcoin Mining Recover?! The Chinese vs. The U.S Strategy of Blockchain
Red Alert: Lesson Learns from the Nearly Cashless Nation
Have We Ever Learn Anything from 2008?! To Print or Not to Print?!
Crypto's China Syndrome May Never be Recovered
End of the Big Bank Era
China Ban Ban Bang!
Lesson Learn from China's Crypto Ban
Crypto or Not Crypto: China Enters Backward Economy Cycle
Crypto China FUD is Cured by Itself
-------------------------------------------------------------------------------------
SEC FUD
SEC vs. Ripple: the Endless Game of War
SEC vs. Defi: What is the goal of the Defi?
The SEC Defi Investigation: The Decentralization Theater
Coinbase Regulation Probe: The Future of Crypto Lending
-------------------------------------------------------------------------------------
NFT FUD
NFT: Digital Solution or Delusion?
NFT: The Future of Gamers' Assets
NFT Bubble: Does it Really Matter ?!
NFT Bubble May Just Almost Pop
Are We Popping NFT Bubble Yet?!
Metaverse Begins with Crypto
Why Steam Kicks Out NFTs Will Trigger Gaming Disruption
-------------------------------------------------------------------------------------
FOMO FUD
The World Without An Expert: Expert ≠ Rich
Satoshi Nakamoto's Statue: Should We Worship Him/Her?!
Tech Coin: The Coin We May Not Want to Own
Crypto Companies: Another Tech Giants or New Era of Tech
Institutional FOMO: The Worst Kind of FOMO
Regret vs. FOMO
-------------------------------------------------------------------------------------
Miscellaneous
Where are We Position Crypto at : the Problem with Money and Wealth
What Categories Does Bitcoin Belong to or Does it Really Matter?
Quantum Financial System: The System Lost Itself in Quantum World
Crypto Hot Hub: The Best Place to become Crypto Incubator
Break the Fourth Wall?!
We Are Short for the Dollars: The Dollar's Liquidity Issue
Fiat vs. Crypto: Religion vs. Science or Vice Versa
Crypto Movement: From Consumerism to Anti-excess Movement
Wisdom from Steve Jobs to Satoshi Nakamoto
Fiat Squid Game: Crypto Comes for Rescue
Your Pet is Your Trade Partner
Definition of Money has Changed, Thanks for Cryptocurrency
Crypto Payment Adoption: The Beginning of Layer 2 Adoption
To Exchange Crypto for Your Body Part Data: Facebook Old Scam Revital
Worldcoin Part 2: Categorize Eyeballs
Crypto Education Should Be All Free
-------------------------------------------------------------------------------------
Post Quantum Cryptography
Future Consensus Algorithms Power by Influencers or Capable to Resistance of Quantum Attacks
Technology Race: Quantum Computing vs. Cryptography
Prepare for Post Quantum Cryptography
-------------------------------------------------------------------------------------
Bitcoin Digest
Is Bitcoin Untraceable Anymore?! It Depends!
Currency Comparison: Bitcoin vs Dollar
Bitcoin ETF May Not Be Such a Great Idea
Bitcoin Lightning Network Explain
The Truth Behind Bitcoin ETF Approval
-------------------------------------------------------------------------------------
Ethereum Digest
Ethereum London Hardfork: How Hard does It Actually Fork?
Did the U.S. government just thumbs up on Bitcoin and down on Ethereum after the London Hardfork?
EIP-1559: The Future of Ethereum Economy
Ethereum Got Update Bug: A Blockchain Synchronization Problem
Buterin's Regret: Ethereum 8 Co-Founder Things
Can Cardano Really Kill Ethereum?!
Cardano is Smoking or Vision the Future
Vitalik Buterin's Concerns
-------------------------------------------------------------------------------------
Shitcoin Economy
The Legendary of Shitcoin: Meme to the 🌓 or Unique of 💎 or Simply just 💩
Crypto Economy: the Untold Speculative Financial System We will Live?
Shitcoin Economy: Part 1 - Category
Shitcoin Economy: Part 2 - Regulations
Shitcoin Economy: Part 3 - Environment
Shitcoin Economy: Part 4 - Technology
Shitcoin Economy: Part 5 - Detokenization
-------------------------------------------------------------------------------------
Doge Economy
Doge 2.0: Who Let The Dog Out?!
Dogecoin 2.0: Doge Breeder Era
Shiba Gets Serious
Shiba Gets Serious 2.0
Digital Dog Fight: Doge vs. Shiba
-------------------------------------------------------------------------------------
Energy FUD
Bitcoin's Energy Concerns, Scalability and the End of Bitcoin Prediction
Unknown Author’s Hypothesis: Creator of PoW and PoS Hybrid Blockchain
-------------------------------------------------------------------------------------
Tokenoconomy
Tokenism: An Old Idea Get A New Invention
-------------------------------------------------------------------------------------
Crypto-regulation
Legal Framework of Virtual Currency
The Cantillon Effect: The 18th Monetary Curse About to be Broken
Crypto Regulation: What Regulations Anyway
Banks Bow Down to Crypto
-------------------------------------------------------------------------------------
Machine War
Artificial Intelligence vs. Blockchain: the Future of Machine War
Crypto War I: Birth of Public Key Cryptography
Crypto War II: Birth of Decentralized System
Crypto War III: Decentralized Hunger Game
-------------------------------------------------------------------------------------
Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
