The Symbolic Link Between the Bitcoin White Paper and Halloween
Today marks the 11th anniversary of the publication of the Bitcoin white paper on the Cryptography Mailing List!
Satoshi Nakamoto introduced the first concept of a decentralised, digital currency on October 31, 2008 stating:
“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.”
Was Bitcoin’s white paper released on Halloween on purpose? Some Bitcoin proponents think so.
Leo Weese of the Bitcoin Association of Hong Kong detailed Satoshi’s symbolic timing, explaining that Halloween originated as a celebration of death and renewal. The Celts celebrated the start of their New Year on November 1, so Halloween (or ‘Samhain’ as they would’ve called it) is equivalent to a New Year’s Eve party in those days. There is also the tradition of the ‘Day of the Dead’ in Mexico which happens around the time of Halloween and is thought to be almost as old as Samhain.
Weese also draws parallels between Martin Luther and Satoshi Nakamoto, who both announced their ideas on October 31 to undermine the power of a central authority. While Luther undermined the Vatican in 1517, Satoshi’s innovation attempts to reduce the power of central banks.
It certainly seems the timing of Bitcoin’s white paper was a symbolic act on Satoshi’s part, especially given that Bitcoin.org was registered in August 2008 and the Global Financial Crisis intensified in the following weeks.
Maybe it’s just a coincidence, but October 31 also marks the day that the National Security Agency’s (NSA) proposal for an implementation of anonymous electronic cash was received by Fried Frank LLC (a law firm focusing on antitrust and competition among other things) back in 1996.
The paper, titled How to Make a Mint: The Cryptography of Anonymous Electronic Cash, outlines how public-key cryptography could be used to create a digital currency and also mentions the multiple spending problem (also known as double spending) — which would be solved by Bitcoin over a decade later.
Were there rogue elements in the NSA that led to the creation of Bitcoin? Or it is just a mere coincidence that both digital cash proposals were revealed on Halloween? A spooky and entertaining thought indeed.
As a holiday which celebrated the start of a new year in Celtic tradition and the commemoration of the dead by the Aztecs, October 31 served as a perfect opening for the renewal of the monetary system.
It’s been about 48 years since the link between gold and the US Dollar was severed. On this day 11 years ago, Satoshi came knocking on the door of the Cryptography Mailing List and revealed Bitcoin to the world. Many still think Bitcoin is a clever trick to make you part with your money. Others think of bitcoin as more of a treat; a solution to the broken monetary system and a ticket to financial freedom.
To celebrate the 11th anniversary of Bitcoin’s white paper, Interdax has a treat of its own for cryptocurrency traders.
You can now join Interdax’s testnet, where you’ll have the chance to win real BTC prizes if you’re amongst the most profitable traders in our trading battles.
Happy Halloween!
