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
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