Happy Birthday Bitcoin

On January 3rd 2009, 18:15:05 UTC, Satoshi Nakamoto mined the Bitcoin Genesis Block, just 64 days after releasing the famous White Paper.

https://images.unsplash.com/photo-1519162584292-56dfc9eb5db4?ixlib=rb-1.2.1&ixid=eyJhcHBfaWQiOjEyMDd9&auto=format&fit=crop&w=500&q=60

http://www.metzdowd.com/pipermail/cryptography/2008-October/014810.html

https://www.blockchain.com/btc/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

Two Front Pages, A Decade Of Progress

Decoding the message hashed into the Genesis Block, Satoshi added “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, mirroring the headline from that newspaper on the same date.

https://en.bitcoin.it/wiki/Genesis_block

https://www.redbubble.com/people/phneepers/works/28086423-chancellor-on-brink-bitcoin-genesis-block?p=poster

Ten years on, an advert thanking Satoshi and wishing Bitcoin a happy birthday can be seen on the front page of the same publication.

https://www.bbc.co.uk/news/blogs/the_papers

An Annual Celebration

The Proof of Keys movement, begun by industry veteran Trace Mayer seeks to use the anniversary of the Bitcoin Genesis Block as a reminder that if you are not holding your own private keys, you are not holding your own crypto. Exchanges have an important role to play, but regular withdrawals that effectively audit these platforms are healthy and go some way to ensuring they are not running fractional reserve crypto systems. After all, that is not what Bitcoin came to achieve, it’s part of what it sought to disrupt.

The Next Decade

Day by day, it’s slowly dawning on the world population that Bitcoin is not about magic internet money, drugs or criminal dealings. It’s about freedom. Within the next decade it’s likely that we will reach a tipping point in that realisation. When we do, perhaps its true potential will finally be understood.

Thank you Satoshi, and Happy Birthday Bitcoin!

Disclaimer: Investing or trading in crypto currencies involves significant risk. It is important to research and carefully assess any such investments. All the information presented in this article does not constitute financial advice or recommendations of any kind.

By James Hunt (@humanjets)