The Paper: Bitcoin's Origin and How It Changed the World

Beginnings

So as I began another 24-hour shift at work, I decided to research the original paper written by Satoshi Nakamoto entitled Bitcoin: A Peer-to- Peer Electronic Cash System and I can only say one thing. WOW. I am struck by the genius contained within the eight pages that is this paper… from the beginning of the paper where having a trusted party as an intermediary isn’t necessary (which is incredible, even now when we realize that it absolutely can be done) to the end when you read about the probability calculations made in order for you to understand just how difficult it would be for attacker nodes to take over control of blockchain transactions, I was thoroughly floored.

Thank you Jackie Chan for accurately describing my reaction to initially reading the paper

Since this paper was presumably written nearly 10 years ago, it seemed only right that we review and discuss the importance of this paper and concept, and how it has changed lives and the future of the world as we know it. I usually like to insert comedy into all of my writing, but all jokes aside, this paper was/is monumental. I want you to partake in an exercise of sorts with me really quick; I want you to close your eyes and imagine your world without the invention of blockchain and the ideas it has spurred on. Now open your eyes, if you can’t even imagine a world without it, let me go ahead and draw up a nice little picture for you, my dear. The world would be pretty much set on the established views that banks are the only way to execute financial transactions with semi-confidence (since fraud was/is accepted as a guaranteed risk), and all of the things that you have heard being built on blockchains, whether Ethereum or Bitcoin or what have you, would not exist. Maybe the bright minds in the crypto space would succeed in the traditional tech industry or maybe they would have never emerged from the shadows of obscurity.

Freedom

You know what truly is the most crazy/awe-inspiring thing that we can attribute to the invention of Bitcoin and blockchain?
The idea that we don’t need to exist under the foot of the government forever, and that it won’t require a bloody revolution to escape those shackles (note for the FBI: this is just a hyperbolic thought, don’t kill me pls). We can truly free ourselves, by supporting and discovering new revolutions in IT, human transaction and communication. Isn’t that refreshing? All the tools that were looked upon with skepticism by the establishment and banking industry will be the tools that will help us ultimately be their bosses. The work is not nearly finished, but this paper could be looked upon as the catalyst for the revolution of thought and as the galvanizer of the future generations who begin to doubt that they can change their own present and paradigm.

This is an actual person after they read the paper, no lie....actually that's a lie

Is Satoshi Nakamoto a ghost?

The true mystery lies in the actual person/people who sat down to write this paper, Satoshi Nakamoto. In these days where it is easier to find people than ever before, nobody can definitively prove that Satoshi Nakamoto is a specific person or group of people. An air of mystery hangs over this pseudonym, because it is synonymous with an entity that owns approximately 980,000 Bitcoin worth approximately $16.6 billion, yet nobody knows who this ultra-rich entity is. Some people theorize that the person behind the pseudonym is actually dead and that is why nobody has touched the massive fund. Another popular theory is that he/she/they are ultra-humble and simply have no use for money. Also, another vague theory is that Satoshi Nakamoto is actually incredibly rich already, and thus, does not need to access this reserve. There are specific theories involving actual people, but I’m not going to turn this article into a discussion of conspiracy theories. But how cool and mysterious, right? Ooooooooooooo (in my best spooky ghost voice) .

Thankful

Seriously though, we owe so much this paper and its writer. I do not want to discount people like Nick Szabo who pioneered the early thought and basis for something like this, but to see it all culminate like this was incredible. I was young when Bitcoin was first actually created, but I remember hearing about it. As I got older, I got more and more interested in cryptocurrency (thanks in large part to my older brother), began to study it a bit and eventually started to write about it. My brother was able to move out of Miami and reinvent his entire life thanks to cryptocurrency. I can attest that so many lives have been changed to due to this paper being the fuel for the fire that is our crypto community. I love this community, I love the genius I witness every day and I am thankful to be able to speak with you all consistently. I am simply thankful for this paper, and for it all it began. As always, good luck and stay well.

References:

• https://blockexplorer.com/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

• http://www.businessinsider.com/satoshi-nakamoto-owns-one-million-bitcoin-700-price-2016-6

• https://bitcoin.org/bitcoin.pdfer