Robert Steinadler, 5 months ago
The foundation for Bitcoin was laid out in a white paper that was published in late 2008. Its birthday however was on January 3, 2009. It was a rough ride from the bottom to the top. Fans and the community were celebrating Bitcoin’s 14th birthday yesterday. The mother of cryptocurrency offers stability ever since it has been invented and its blockchain was born.
Why hasn’t Bitcoin changed much over the last 14 years and why is this a good thing?
Today many applications are making use of it. The blockchain is the immutable technology that is at the core of Bitcoin and it guarantees that nobody can alter the decentralized digital ledger.
While Bitcoin is all about sound money that is supposed to free the world from middlemen and banks other blockchains evolved which serve a whole different purpose. Many Bitcoiners argue that these technologies are doomed to fail and that Bitcoins blockchain is the only legitimate use for this technology. No matter where you position yourself regarding that question, Bitcoin clearly introduced something that is bigger than itself. The idea and a technology that might be able to decentralize many different applications.
Bitcoin is the mother of decentralized finance, non-fungible tokens, digital identities, and many more examples of technologies that we are all using today.
January 3rd is traditionally the proof of keys day. Bitcoiners celebrate by withdrawing all BTC available to them to their own wallets. This sounds a little bit strange, but it pays homage to the idea that Bitcoin empowers its users to take full self-custody of their money. To show support many even change their bios on social media and encourage others to follow the example.
With Bitcoin getting one year older, the market is in turmoil. One could argue that this is the case because not everybody took control of their own coins and trusted FTX or Celsius. While it is true that self-custody has some advantages, it is worth remembering that many players in the crypto industry such as LiteBit are honoring core values and can be trusted.
It has been quite a ride for Bitcoin in the last 14 years and one thing is for sure: It’s going to be an exciting journey for the next 14 years and beyond.
May 22, 2023
Every year the Bitcoin community is celebrating the fact that somebody bought two pizzas online. This looks a little bit strange at first glance but it is one of the most important moments in Bitcoin’s history. What is Bitcoin Pizza Day all about and why is everybody celebrating it?
May 22, 2023
The guys who self-identify as the Taproot Wizards - Eric Wall and Udi Wertheimer - entered the main stage of Bitcoin Miami to loud cheers. After their short and silly wizard dance, the panel discussion started in earnest. But not everyone in the Bitcoin community is a fan of their quirky attitude and projects.
May 19, 2023
We wrote about it earlier: Jason Lowery believes Bitcoin could become the world's reserve currency and that countries should engage in a peaceful "arms race" to mine Bitcoin. He believes Bitcoin is a form of digital property that will be defended similar to how navies secure maritime thoroughfare. Not everyone is sold on this concept. Let's discuss a contrarian view.
May 18, 2023
Stablecoin issuer Tether (USDT) in its recent reserves report reveals that the company holds approximately 52 thousand BTC, worth a respectable $1.5 billion. This is only a fraction of its total assets but signals an interesting potential trend of institutions allocating a piece of their capital to Bitcoin.
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