📜 Historical quote from Satoshi – February 15, 2010

"Many people automatically dismiss electronic currencies as a lost cause due to all the companies that failed since the 1990s. I hope it is obvious that it was only the centralized nature of those systems that condemned them. I believe this is the first time we are testing a decentralized and trustless system."

🔍 Key context:

• BTC Price: $0 — an active market did not yet exist.

• Location: P2P Foundation Forum, where Satoshi published and debated with other developers.

• Motivation: Responding to criticisms that compared Bitcoin to previous failures like e-gold, DigiCash, or Liberty Reserve.

⚡ Why this quote matters:

• Satoshi identifies centralization as the Achilles' heel of previous attempts.

• Bitcoin does not depend on a company or trust in third parties: it is software, consensus, and cryptography.

• Marks the beginning of a new era: permissionless money, resistant to censorship and state control.