Many People like Bitcoin for all the Wrong Reasons

When Satoshi Nakamoto released Bitcoin, he likely adhered to a certain vision of a decentralized, P2P, electronic currency. Contradictory to mainstream belief, Bitcoin wasn’t the first cryptocurrency or even the first usecase of blockchain technology. However, it was the first cryptocurrency utilizing “Proof of Work” for decentralization that made the crypto market mainstream. Even early on this was an open source project, and Satoshi used to create a static link that gave people free Bitcoin for downloading the whitepaper. That link no longer works, but the whitepaper and his original forum post is likely here to stay.

Now a problem with Bitcoin, is that nobody knows who Satoshi is. Many in the crypto community are dumbfounded on who Satoshi is. This is likely for good reasons. Some people think it may have been a collaboration with Dave Kleiman, Hal Finney and Nick Szabo. However, that is still debated by many, and Nick himself has denied involvement. That being said, this isn’t why I decided to make this post.

I decided to make this post on the basis that Bitcoin started as an open source project aimed to show a vision of cryptographic currency that replaces traditional monetary systems. It was aimed to show the value of decentralization if used correctly. People however seemed over time to care less about Bitcoin’s core technology.

The whole cryptocurrency market is more or less focused on Bitcoin’s price over its core technology. This makes a growing number of useless altcoins or cryptocurrency that claim to be decentralized and aren’t. For Bitcoin to stay truly what it is, people need to be able to appreciate the technology more than just trying to make it a corporate take over type scenario. The 2009 Bitcoin was likely not meant to orchestrate what we are seeing now. I say this having learned about its technology in 2011, making me a latecomer.

Disclaimer: Please keep in mind, everything I say is on an opinion based basis. This is not meant to be taken seriously or as actionable financial advice. Do your own due diligence and any trades you do is at your own risk. We are not responsible, proceed with caution and we are trying to voice an opinion not meant to warrant action. This is solely meant to be viewed as a non actionable opinion not meant to be taken as seriously or as a form of actionable advice.