Bitcoin’s whitepaper, published by Satoshi Nakamoto in 2008, introduced a revolutionary decentralized digital currency that redefined the future of finance.
Its profound impact has sparked a global movement, reshaping economies, challenging traditional systems, and igniting the rise of blockchain technology.
This is the whitepaper:
Bitcoin: A Peer-to-Peer Electronic Cash System
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Bitcoin’s Whitepaper, by Satoshi Nakamoto
In 2008, an anonymous person under the alias of Satoshi Nakamoto, unknown to anyone until that point, published the whitepaper in the cryptographers’ mailing list.
This was the beginning of the first decentralized currency that bypassed the financial system and empowered the individual by granting full access to their wealth.
Satoshi started a financial revolution but also provided a powerful tool for individuals to utilize under difficult financial and political circumstances. With the whitepaper, we heralded the era of financial empowerment.
The Dark Side Of Bitcoin
Bitcoin today has a dark side as well.
The mainstream version (BTC) apparently has been hijacked and diverted from the original intention of a system of payments (P2P Cash), as one development team (Bitcoin Core) is powerful enough to command and dictate consensus.
No changes towards increasing scalability were successful due to the adamant denial of a few people in control.
Readers can look up the rest of my work where these topics have been analyzed in depth.
I created The Whitepaper Video because to truly understand Bitcoin, one must first understand its origins.
There’s no better source of information than the original paper, where the creator, Satoshi Nakamoto, outlines the intention, vision, and structure of Bitcoin.
Conclusion
Even if you’re just an investor, it’s crucial to understand what exactly you’ve invested in.
Satoshi Nakamoto never once mentioned the term “store of value” in the Bitcoin whitepaper.
Throughout his correspondence, he emphasized that Bitcoin was designed as a payment system.
The payment properties is the part of Bitcoin the Core development team fought against for years, alongside some early infiltrators and investors from the banking sector, all sharing a vision different than the original one.
They institutionalized Bitcoin, tamed its revolutionary potential, and stripped away its most disruptive power, the one that challenged the greed of banks.
Maybe Bitcoin (BTC), can still succeed as a store of value, as some of its proponents suggest.
Maybe it won’t.
What remains, is that when finance cut one head off, thousands more emerged.
You can hijack a single project, but you can never suppress an idea.
Other cryptocurrencies have risen to fulfill the mission Satoshi envisioned, and a few of them are already succeeding in doing so.
It won’t be long before we all need these tools on a larger scale.
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