The true story of the birth of Bitcoin dates back to a combination of technical, ideological, and economic factors, primarily as a response to the problems of the traditional financial system. Here is the most relevant context:

1. Financial Crisis of 2008

Bitcoin was proposed just after the global financial crisis of 2008, which exposed serious flaws in the banking and financial system: bailouts for banks, corruption, lack of transparency, and excessive dependence on the centralized system.

2. Publication of the White Paper

On October 31, 2008, a person (or group) under the pseudonym Satoshi Nakamoto published the technical document titled "Bitcoin: A Peer-to-Peer Electronic Cash System." The stated goal was to create a decentralized payment system, without the need to trust intermediaries such as banks or governments.

3. Main Motivations

Decentralization: Eliminate the need for financial intermediaries.

Personal control over money: Give people direct control over their funds.

Resistance to censorship: No one can block or reverse transactions.

Limited supply: Unlike fiat money, Bitcoin has a maximum supply (21 million), making it resistant to inflation caused by money printing.

4. First Block and Hidden Message

On January 3, 2009, Satoshi mined the genesis block of Bitcoin, which included this message:

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

This headline from the British newspaper The Times is interpreted as a direct criticism of the traditional financial system and a symbolic reason for the birth of Bitcoin.

5. Cypherpunk Ideology

Bitcoin also has roots in the cypherpunk movement, a community of cryptographers and digital activists who advocated for privacy, anonymity, and financial freedom through cryptography. Satoshi built upon previous work such as HashCash, b-money, and Bit Gold.