Robert Steinadler, a year ago
Bitcoin is the world’s first cryptocurrency and the biggest decentralized monetary network up until this day. Many people already celebrated the anniversary of the Bitcoin whitepaper and it is true that the idea of Bitcoin was born with its publication. But the Bitcoin blockchain was started later on January 3, 2009.
How did Bitcoin start and why is it important to remember this historic day aside from celebrating it?
Bitcoin was started when Satoshi Nakamoto, the mysterious inventor of Bitcoin created the so-called Genesis block. The Genesis block contains an encrypted message that gives away what kind of newspaper Satoshi was reading at that time and also why he invented Bitcoin:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”
Bitcoin was the answer to the financial crisis that was perceived by many people as the biggest threat at that time. A single individual is not able to intervene when push comes to shove and the monetary policy is not in favor of the average Joe but rather of the elites and banks.
Bitcoin is meant to change that fact by introducing two aspects that the banking system is lacking:
While this idea is very inspiring to many people around the world it remains to be seen if it is going to prevail. Becoming a successful asset in terms of price growth is completely different from becoming the world’s digital currency.
The year 2022 has only begun and yet Bitcoin is printing all-time highs again. The hash rate found a new peak and also the yearly open. At the beginning of 2021 Bitcoin started at roughly 25.500 Euros and this year started with about 40.500 Euros.
Both stats pay testimony to the constant growth of the network that is in fact the biggest decentralized monetary network in the world. With Bitcoin growing stronger the price might not always reflect its full potential.
It remains to be seen if the biggest cryptocurrency will succeed and take its place as the world’s monetary network that cannot be controlled by any single entity no matter how powerful it is. In the end of day Bitcoin had offered these qualities all the time, but the world has to choose whether it is opting for it or not.
Mar 27, 2023
MicroStrategy has done it again! The company bought Bitcoin and while this doesn’t come as a surprise, the circumstance of the recent move is remarkable. Many critics have pointed out that investment in Bitcoin is risky. Most recently, the market proved that banks can be more volatile than Bitcoin. MicroStrategy took advantage of this fact and made another strong move that drove media attention to the company.
Mar 27, 2023
Tim Draper is well-known for his conviction about Bitcoin. The billionaire bought 30,000 BTC in 2014 during the Silk Road Bitcoin auction. An investment that turned out to be fruitful, to say the least. Because of his conviction, Draper is more than biased when it comes down to the mother of all cryptocurrencies. On the other hand, his success can be interpreted as an indicator that Draper might know a thing or two that other investors don’t. Recently, Draper advised on how business owners and managers should deal with the banking crisis.
Mar 27, 2023
The creator of the impressive skull-shaped artwork commissioned by Greenpeace in its fight against Bitcoin mining, has changed his own view. After long talks with experts on Bitcoin mining, he says he no longer thinks mining is a black and white issue: 'I was wrong'.
Mar 24, 2023
We must admit that we like the artwork better than the campaign. Greenpeace USA had 'art activist' Benjamin Von Wong create a sculpture. Made from waste metal, it's called the Skull of Satoshi. It's supposedly highlighting Bitcoin's 'record of climate destruction'.
Sign up to stay informed via our email updates