On 31 October 2008, the heyday of the global financial crisis, Lehman Brothers bank had collapsed shortly, including this is the biggest break in US history.
An unknown programmer, using the pseudonym Satoshi Nakamoto, announced in an encryption forum his great invention, an electronic payment system P2P. In this message, he also placed a paper, with 9 pages describing the system and its characteristics.
Most people back then did not give credibility. Even because other people had already tried to do this, to create a currency that did not depend on a government or central bank.
But the invention presented was already the result of years of research and development in the area of computing and economics.
This was Bitcoin. It is not a currency controlled by someone, but the rules of the system encourage honest behavior.
It does not matter who Satoshi Nakamoto is, whether he is a person or a group of people, because the system does not depend on him.
No one individually is responsible for bitcoin, but the set of all users make the currency work for 8 years uninterrupted.
Full paper at: PDF
My best,
Tim Balabuch,
Designer & Cryptocurrency enthusiast
Articles about the cryptocurrency world, take a look:
• Are Bitcoins issued or created?
• Bitcoin Core & Bitcoin Unlimited: Two different currencies?
I have a steemgig too:
• STEEMGIG: Animated Follow banner for Steemit! Just 1SBD
Bitcoin's invention is probably going to go down in history as one of the most monumental economic inventions in the 20th-21st century. I'm incredibly bullish on cryptocurrencies and am confident that one day it'll get "mainstreamed" and all the early adopters will be well rewarded.
Cryptocurrency is probably the closest thing we can get to democracy in the monetary supply. Many don't realize it but one has tremendous power if one controls the money supply, so much so that some ppl even question whether the head of the Federal Reserve has more power than the President of the United States. Crypto definitely returns some of the power back to the people.
Also, the anonymity of crypto makes it so that government can't use the taxation excuse to be more intrusive on our lives.
Concise history at a glance. Resteeming this...
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Tim from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
Great find, I want to write a crypto piece and this is 👍. I noticed your profile is from Brazil are you native? How do I find you on discord?
Yes, I'm a native of Brazil. My user on discord is timbalabuch =)
Not sure why I can't find you, wherevare you hiding? My name is kubbyelizabeth on there :)