Freedom, innovation, wealth and education; Bitcoin completes 10 years
October 31, 2008. The last day of October, that year, will be recorded in the history of computing forever. Just like the year 2008 will be marked in the world financial magazine.
And the two landmarks complement each other. After all, a crisis that had the same effect that directly influenced the event that marked October 31. On that day, an unknown author published a document of just over 10 pages that marked the growth of the main word on the market: Bitcoin.
Today, the impact of Bitcoin is felt throughout the world. So talk about it is not the purpose of this text. By the way, the emergence of the crisis, the main uses and also about the great invention of Satoshi Nakamoto: a blockchain.
Context
2008 was a year that can be considered fundamental in the financial system. The day before Satoshi Nakamoto revealed the world to Bitcoin, the world felt the shock of another revelation: the break of American bank Lehmann Brothers.
The bank crash was the trigger for a financial crisis the previous year - the most serious since the Great Depression. It was during this crisis that the largest rescue program of the financial system in history occurred. Banks have been bailed out by governments around the world, through tax money from the population. The logo of the crisis becomes systemic, in banks in Europe and in other markets.
It was with this context in mind that Satoshi Nakamoto announced the creation of Bitcoin on October 31, 2008. The email, 10 days, brought the already classic phrase:
"I'M WORKING IN A NEW ELECTRONIC MONEY SYSTEM WITH TOTALLY PEER - TO - PEER, WITHOUT THIRD PARTIES OF TRUST.
The email, which contains the link to the Bitcoin article, released for the diagnosis of the key seven days after. And, if it is for his conveniences, Satoshi attached to the block of a famous cover of The Times newspaper, dated January 3, 2009 (Bitcoin network release data).
The cover, shown below, featured the UK Order of Finance requesting a second bailout of the banks.
goal
Bitcoin emerged exactly as a counterpoint to a government bailout practice at large banks. The crisis of 2008 was what caused us control over our money - and how fragile it is.
Satoshi himself states in the introduction to the whitepaper a weakness that identified the system and motivated him to create Bitcoin: centralization.
"INTERNET TRADE ONLY DEPENDS ONLY FROM FINANCIAL INSTITUTIONS THAT SERVE FROM TRUSTED INTERMEDIARIES TO PROCESS ELECTRONIC PAYMENTS. WHILE THE SYSTEM WORKS ON BOARD OF GREAT PARTIES OF THE TRANSACTIONS, SATOSHI HAS SAYS STILL DEFACIENT OF THE FRAGULATING MODEL DESIGN BASED ON CONFIDENCE," SATOSHI AFFIRMED.
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