Dear Satoshi, We Have Overhauled Your Beloved Bitcoin
How the “peer-to-peer electronic cash system” became more than just a form of money
Once upon a time, a futurist created a form of digital money. One that was programmed by code and made transparent to everyone. One that was beyond the control of governments, banks, and powerful institutions.
It was revolutionary. It was Bitcoin.
Of course, the benefits were not immediately obvious. Who was to say if a Bitcoin was worth $0.10 or $10? What can the Bitcoins get me? How do I even get my hands on a Bitcoin?
A 5,000 BTC pizza later (it was 10,000 BTC for two pizzas), almost 10 years since its genesis, and having increased in value by over hundreds of thousands in percent, people are still asking the same questions.
What is the intrinsic value of Bitcoin? Why is Bitcoin better than money? Where can I buy some Bitcoins?
You see, the concept of distributed, decentralised money has not been very popular, not when the economy is doing well. There appears to be no major problems with the centralised institutions, in most countries at least.
So people decided to use the same technology underlying Bitcoin — blockchain technology — to mediate transactions. That…
