Blockchain

Satoshi Nakamoto’s Bitcoin white paper is now a 13-year-old teenager

Today, Bitcoin maintains a stable trading value well above $60k after experiencing a gradual appreciation of 7,749,999,900% since its launch.

The iconic Bitcoin (BTC) white paper celebrates thirteen years of financial disruption after being first published on Oct. 31, 2008, by an anonymous person or entity named Satoshi Nakamoto.

The white paper, titled Bitcoin: A Peer-to-Peer Electronic Cash System, foresaw the need for a peer-to-peer online payment system that is self-governing, secure and limited in quantity. The Bitcoin network was launched on Jan. 3, 2009, with each Bitcoin priced at $0.0008.

Satoshi Nakamoto’s Bitcoin white paper is now a 13-year-old teenager

While Bitcoin was initially perceived as a threat by traditional financial institutions, thirteen years of community support and a growing user base have made Bitcoin one of the most profitable investments for the internet age. Today, Bitcoin maintains a stable trading value well above $60k after experiencing a gradual appreciation of 7,749,999,900% since its launch. 

The Bitcoin white paper proposes a solution to prevent double-spending without the risk of trusting a third party. To do this, it mentions the use of “honest” nodes that confirm transactions by overpowering the bad actors in terms of the raw central processing unit (CPU) power of computers.

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Interestingly enough, the Bitcoin white paper has 15 “honest” and one “dishonest” mentions, explaining the need for honest nodes to ensure the credibility of each transaction. In the words of Satoshi Nakamoto:

Despite the ongoing resistance from numerous governments and authorities, this year marks the beginning of Bitcoin’s legacy as a legal tender in El Salvador. The long-term effect of Bitcoin on El Salvador’s inflated economy will determine the asset’s mainstream adoption among other jurisdictions.

Related: Crypto is impossible to destroy, says Tesla CEO Elon Musk

The success of Bitcoin and the crypto ecosystems as viable investments continue to attract investors from all walks of life. One of the world’s richest man, Tesla CEO Elon Musk, recently showed support for cryptocurrencies at the Code Conference in California:

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Musk has also been highly influential in affecting the market price of other cryptocurrencies such Dogecoin (DOGE).

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