Satoshi Nakamoto’s Bitcoin Whitepaper Is 13 Years Old!

Today, Bitcoin continues to find buyers above $60,000 after gradually gaining 7,749,999,900% since its launch. It remained intact for thirteen years after it was first published on October 31, 2008 by an anonymous person or persons named Satoshi Nakamoto. What has changed? Let’s take a quick look at history…

Bitcoin was launched on January 3, 2009 and its price was $0.0008

The Bitcoin Whitepaper, titled Peer-to-Peer (P2P) Electronic Cash System, predicted the need for a self-managed, secure and limited-volume online payment system. The network was launched on January 3, 2009, and each BTC price was $0.0008.

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. The Bitcoin whitepaper proposes a solution to avoid double-spending without the risk of trusting a third party. To do this, he talks about the use of “honest” nodes that validate transactions by defeating bad actors in terms of raw central processing unit (CPU) power of computers. In the words of Satoshi Nakamoto:

We proposed a trustless system for electronic transactions. (Honest nodes) vote with CPU power, expressing that they accept valid blocks by trying to expand and reject invalid blocks by refusing to work on them.

Bitcoin Blockchain mined block 707542 offering mining reward

Today, block 707542 was mined, offering a mining reward of 6.25 million BTC. As the Bitcoin ecosystem slowly approaches its hard cap or maximum supply of 21 million BTC, the developer community may need to change existing rules to encourage miners to approve BTC transactions on the Blockchain.

Entrepreneurs join the celebration

Leading entrepreneurs from Crypto Twitter like Anthony Pompliano join the celebrations. On the 13th anniversary of the Whitepaper, Pomp invites the community to the Bitcoin Pizza event:

Tomorrow is the 13th anniversary of the Bitcoin Whitepaper. We are officially launching Bitcoin Pizza in 20 cities with nearly 100 locations. Every dollar of my wife goes to Bitcoin developers.

BTC adopted as official currency this year

Despite ongoing regulatory enactments from multiple governments and officials, this year Bitcoin was adopted as legal currency in El Salvador. Bitcoin’s long-term impact on El Salvador’s bloated economy could determine its mainstream adoption among other jurisdictions. Moreover, the success of crypto ecosystems as viable investments continues to attract investors from all walks of life. Tesla CEO Elon Musk, one of the richest men in the world, recently showed support for cryptocurrencies at the Code Conference in California:

I think it is not possible to destroy crypto, but it is possible for governments to slow its progress.

Musk also believes that “cryptocurrency is primarily aimed at reducing the power of a central government,” which may be one of the main reasons for Bitcoin’s slow mainstream adoption rate. Musk was also quite effective in influencing the market price of other cryptocurrencies such as Dogecoin (DOGE). Tesla CEO said on December 20, 2020 that Bitcoin is a safe haven. cryptocoin.com You can take a look at the Elon Musk news we conveyed here.