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Bitcoin celebrates the 12th anniversary of the whitepaper
Bitcoin celebrates the 12th anniversary of the whitepaper
Bitcoin

Bitcoin celebrates the 12th anniversary of the whitepaper

By Alfredo de Candia - 31 Oct 2020

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As every year, here’s one of the most important celebrations in the crypto sector, which is not Halloween as everyone might think, but the anniversary of the Bitcoin whitepaper, a document that represents the “constitution” on which this protocol is based.

The birth of this protocol, or rather the idea put on paper on that fateful day of October 31st, 2008, is attributed to a figure or team that is still shrouded in mystery, Satoshi Nakamoto.

The Bitcoin whitepaper was in fact shared anonymously through a cryptographic mailing list.

The birth of Bitcoin with the whitepaper

Bitcoin’s whitepaper came at an almost apocalyptic time for the financial and traditional system of the time: we were in the midst of the 2008 crisis with the collapse of stock exchanges, problems with mortgages, millions of people at home and out of work.

The catastrophe had hit all the countries of the world with a domino effect without any exclusion.

It seems that no one had any idea how to get out of this situation, certainly printing more money and saving the banks was a drastic decision that caused inflation to rise, something that saved few but damaged millions of people.

And this is where Bitcoin came into play with a diametrically opposed system, since the supply is limited to 21 million BTC and every 4 years the reward for miners is halved, resulting in fewer rewards over time.

Over time it has proved to be the most performing asset in history, outperforming gold and precious metals, and even the most performing “stock” among listed companies.

With Bitcoin, we are not only talking about the economic aspect but also about freedom in purchasing power and the fact that it is not controlled by any entity.

For these and other reasons, Bitcoin has made its way around the world over time and almost everyone has heard about it at least once.

The third halving

Precisely this year, Bitcoin has seen the completion of its third halving, which many have seen as a turning point for the price of the asset, with several positive forecasts. 

In fact, many people say that with every halving, which occurs every 4 years more or less, the minimum level below which the price of the asset does not fall is raised, except for possible spikes due to FOMO or other events, such as that of March during the crypto crash.

Anyway, the next time someone will say that Bitcoin is dead, remind them that his birthday is October 31st and not November 2nd!

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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