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Bitcoin birthday

11/01/2018
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No one suspected that the principles laid down in the article “Bitcoin: A Peer-to-Peer Electronic Cash System” would reverse the concept of a financial future. However, that is exactly what happened. Published on October 31, 2018, the document was revolutionary. Satoshi Nakamoto's postulates have become the basis for further development.

What did Satoshi say to the world

Security without intermediaries - this is the main goal pursued by the Bitcoin project. The new coin was supposed to be the basis for world trade and capital storage. And with minimal dependence on regulatory authorities.

Recall that in 2008 the global financial crisis began. On September 15, one of the largest banks Lehman Brothers Holdings Inc. declared bankruptcy. The whole huge institute of lawyers, financiers and officials showed its inconsistency. It was at this time that someone named Satoshi Nakamoto published his work. It described the principles of a peer-to-peer network, where the safety of capital is controlled by the society itself.

After a decade, we can say - this is really a brilliant work. Now the blockchain is used not only in finance, but it is also actively used to store information in various areas of the economy and industry.

The principle of anonymity as the basis of stability

Bitcoin met with opposition from the authorities, as it posed a clear threat to their power. Bankers were afraid that they would be left without customers. The authorities were frightened that they would not be able to track down citizens' payments. However, the society turned out to be stronger than the prohibitions, the protective prohibitions were broken.

Now it is those who resisted Bitcoin, began to use it most actively. Banks and exchanges launch forward contracts for liquid cryptocurrencies and create peer-to-peer blockchain-based systems. Some governments have already announced the development of stablecoins.

Happy birthday, bitcoin! No one knows what will happen with the course in another ten years. However, it is already clear that this coin will remain in world history as the very first cryptocurrency.

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