How Bitcoin & Satoshi Nakamoto changed The World
Bitcoin is the most important invention of the 21st century. The first ever global and inclusive financial system. The first ever unconfiscatable asset. Every human being has right to unconfiscatable property.
Beneath the “blockchain” hype, there’s a decentralization movement that has taken shape, driving the very future of open-source software values and the will of software engineers and entrepreneurs to do good in the world with new technology and collaborative products.
This movement has no nationality, no ethnicity, no doctrine but it is a global movement towards better systems of governance, financial exchange, investment and ethical innovation.
Digital assets are attracting software developer talent worldwide, dApps are changing the future of how distributed ledgers can scale, and public blockchains are showing incredible potential to create ecosystems of value that could challenge how we see the future itself.
Satoshi Nakamoto is not a real person. Satoshi Nakamoto is the pseudonym of the creator of bitcoin. On October 31, 2008, a white paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System” appeared. The world 10 years later is not the same world. Even in times of turmoil, the potential of things like stablecoins and the right to privacy and alternatives to investing in the out-dated financial system in place are appearing for even the most humble citizens of the world.
Seven years since Satoshi stopped publishing on the internet and receded even further into anonymity, this concept of “decentralization” is creating a vanguard of new business models, stimulating startups from Switzerland to China, to Malta, to Singapore.
Bitcoin Stands for Hope for a Better World
Coinmarketcap says cryptocurrencies are at the time of writing worth $203.4 Billion in market cap. But that’s not the true value of digital assets. The true value is hope. Bitcoin is providing a framework for a world of more free will, more choices and more possibilities for humanity to create technologies that can make the world a better place.
Bitcoin isn’t a product, it’s a philosophy of all that comes after. It does not matter how many wallets Bitcoin has or how many daily active developers Ethereum has or if ICOs are in decline, it matters that open-source software (OSS) is converging with the values of decentralization to make a less authoritarian and skewed financial world — a world of massive wealth inequality where greed and exploitation are the drivers of capitalism, innovation and technological convergence.
Satoshi Nakamoto gave us another model of how to be human.
Bitcoin can’t be regulated or suppressed or “taken over”, because it’s symbolic of a global shift in values.
They can warp “decentralization” towards their centralized goals, but consumers will keep choosing the right answer. This is fundamentally because young people have a thirst for progress that drives us on.
Bitcoin as an idea didn’t just go viral, it gave the future of code, technology and our very conception of money, digital assets and collaboration new frameworks and scope of participation as engineers, consumers — as people.
Bitcoin is More Stable than FANG Stocks
On its 10th birthday, let’s give pause to what Bitcoin has become. It’s become in recent weeks a more stable asset than FANG stocks.
Even if taken annualized it’s shockingly stable. What does that say for the future of digital assets? Since as we know all cryptocurrencies are basically tethered to Bitcoin’s price.
Digital assets might have a bright future, especially as the next global recession is widely believed to be on the way in late 2019 or 2020. Bitcoin the digital gold of 2018 might become more reliable in times of economic uncertainty.
#BitcoinAt10 demonstrates the interconnected realization of what Bitcoin has meant for the world.
If Bitcoin was a reaction to the financial crisis of 2008, in 2018 it’s a driver of global innovation, with even central banks all over the world considering how to put their fiat systems on the blockchain.
Nakamoto believed bitcoin could provide a solution. Ten years later it appears he was correct. The outlook for digital assets and all the ecosystem surrounding it had their big bang with Bitcoin. Its an exceedingly optimistic outlook for the future of dApps, smart contracts, public blockchains and blockchain adoption globally.
Bitcoin’s birth in the depths of a financial crisis is not surprising. Like a phoenix from the ashes, cryptocurrencies for all their controversy are helping us rethink society, banking, money, power, venture capital, crowdfunding, exchange, digital assets, governance, technology and the future at large.
We need to honor what this could become. It’s no longer about Bitcoin, it’s about us.
The traditional financial system needs updating, capitalism needs defragmentation, democracy needs more transparency, advertising needs more decentralization, and technology needs more corporate social responsibility. Bitcoin, blockchain and digital assets are all comrades on this path.
Bitcoin isn’t a revolution, it’s just a shift towards more convenience with digital assets. If Satoshi Nakamoto’s paper accomplished this much in just 10 years, what will it do in the next 20? Blockchain historians and futurists like myself ponder these questions.