It was January 9th, and those familiar with Bitcoin history will know that the first version of the Bitcoin protocol was released on this day in 2009, 14 years ago when the Bitcoin blockchain truly began. I know it’s day
The world’s first peer-to-peer electronic cash system has changed radically over the years, but now survives as Bitcoin SV (BSV). Let’s take a quick recollection to summarize the main events.
Due to the nature of Bitcoin, once version 0.1 is released, its core design is fixed for its lifetime. – Satoshi Nakamoto
Wasn’t the genesis block built on January 3rd?
It was. As a result, many refer to this as Bitcoin’s birthday, but since the genesis block is hard-coded (not mined) into the Bitcoin software in the usual way, Bitcoin’s birthday is his January 9th.
The first Bitcoin transaction between Dr. Craig Wright and Hal Finney will take place on January 12th.
Bitcoin was not a cypherpunk project
Nakamoto was clear in early communications that the nodes would eventually become data centers. He clarified that users running nodes at home were not intended for large-scale configurations. He also told Mike Hearn that he never hit the scaling limit and announced it on the cryptography mailing list, rather than the many cypherpunk forums and mailing lists online at the time.
Looking back at these facts, we can confirm that Nakamoto never intended Bitcoin to become a tool for criminals or a “decentralized” system as it is misunderstood today.
Who Released Bitcoin?
Bitcoin was released by a computer programmer under the pseudonym Satoshi Nakamoto. Public docking and a large amount of evidence in various trials have led to Satoshi Nakamoto being Australian polymath Dr. Craig Wright. Many deny this, but no one with an open mind can deny the evidence.
Did Dr. Wright create Bitcoin himself? He credits his late friend David Kleiman with contributions in various ways, as well as Hal Finney and Wei Dai, but the system design is his own. claims to be. His Theory of Bitcoin series on his YouTube details the system and showcases his knowledge of the system he created.
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By listening to Dr. Wright’s story, we learn more about his intentions for Bitcoin and how it failed so badly in the years that followed.
Bitcoin was hijacked, but this time it’s fully revived
Today is my 14th birthday, but the original bitcoin barely survived. The misguided ignorance and willful malice of his BTC core developers who deliberately kept his 1MB block size, which was always assumed to be temporary, changed Bitcoin to something it was never supposed to be. , with the core features and functionality stripped away.
Thankfully, Bitcoin is still alive today and Bitcoin SV – Dr. Wright’s original design has been restored. With the ability to process 100,000 transactions per second and a wealth of apps facilitating micropayments on the blockchain, the original cash system he released is thriving. nChain and others are working to scale Bitcoin to his millions of transactions per second, and its capabilities are finally becoming more widely understood.
Clearly, Bitcoin’s most difficult years are behind us, and its future looks brighter than ever. As we approach our 14th anniversary, we look back on the steps we have taken so far and realize that we still have a long way to go.
Thank you for providing Dr. Wright, the world’s first scalable peer-to-peer electronic cash system. Celebrate his 14th birthday in Bitcoin!
Watch: How Bitcoin Works as a Base Layer for Other Blockchains
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New to Bitcoin? Check out CoinGeek Bitcoin for beginners Section is the ultimate resource guide for learning more about Bitcoin and blockchain, originally conceived by Satoshi Nakamoto.
