“Satoshi Nakamoto” is the name given to the unknown person or people who allegedly created bitcoin, a digital crypto-currency, in 2008. A lot of debate has been had about whether bitcoin was created by one person or multiple people, but there is no definite answer at this point in time. It’s believed that Satoshi Nakamoto (or whoever created it) likely lives somewhere in Eastern Europe due to their pseudonym, which suggests they might not be from America.
The Bitcoin e-cash system has been around for 13 years since Satoshi Nakamoto asked the world to try it.
Several years ago, someone going by the name of Satoshi Nakamoto announced that he had developed an e-cash system called bitcoin and invited the world to “give it a try.”
And the world did.
Bitcoin Is “Completely Decentralized”
Friday the 13th was the top movie at the box office back then, and Kelly Clarkson’s “My Life Would Suck Without You” topped the Billboard Hot 100.
In addition, a social media site called Facebook had rapidly gained popularity, overtaking MySpace in popularity. Nakamoto said with his announcement that bitcoin was “completely decentralized, with no central server or trusted parties, since everything is based on cryptography.”
Money can be secure and transactions effortless with e-currencies based on cryptographic proof, without the need to trust a third party middleman,” Nakamoto said.
Laszlo Hanyecz, a programmer named Laszlo Hanyecz, made the first documented Bitcoin purchase on May 17, 2010 when he purchased two Domino’s pizzas for 10,000 bitcoins.
As Bitcoin has become increasingly popular, its prices have soared, plummeted and risen again, with January being one of the most volatile months in recent memory.
Several U.S. mayors, including Eric Adams of New York, have received their paychecks in bitcoin. More than 15,000 businesses accept bitcoin worldwide.
At least 9 countries have banned the use of cryptocurrencies, and now 10,000 bitcoins are worth about $442 million. However, El Salvador is the first country in the world to make bitcoin legal tender.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
