$BTC

Satoshi Nakamoto and Bitcoin: The Digital Currency Revolution Disrupting Traditional Finance

Bitcoin is a decentralized cryptocurrency proposed by a person using the pseudonym 'Satoshi Nakamoto' in 2008. At that time, the world was plunged into a financial crisis, with bank failures and governments printing money endlessly, leading to a crisis of trust in the traditional financial system. Satoshi Nakamoto published the white paper 'Bitcoin: A Peer-to-Peer Electronic Cash System' in the same year, advocating for the establishment of a currency system that does not rely on banks and allows everyone to transfer funds freely.

On January 3, 2009, he successfully mined the first block of Bitcoin—the Genesis Block—and embedded a newspaper headline within it: 'The Times 03/Jan/2009 Chancellor on brink of second bailout for banks', symbolizing dissatisfaction with the financial system. This was not just a technological breakthrough; it was also a reflection on financial philosophy.

The most significant features of Bitcoin are decentralization and a fixed supply, with a maximum of 21 million coins that cannot be altered by anyone, allowing transactions without the need to trust third parties. Through blockchain technology, every transaction of Bitcoin is transparent, verifiable, and immutable.

In 2010, Bitcoin celebrated its first real commercial transaction: a programmer purchased two pizzas for 10,000 Bitcoins, an event known as 'Bitcoin Pizza Day'. In the following years, the price of Bitcoin skyrocketed from a few cents to tens of thousands of dollars, attracting global investors and businesses.

Satoshi Nakamoto mysteriously disappeared at the end of 2010, leaving behind a vast community and technological assets. He never touched the millions of Bitcoins he held, adhering to the spirit of decentralization. Today, Bitcoin is regarded as 'digital gold', not only as a new type of asset but also as a challenge and alternative to traditional financial authority.

The emergence of Bitcoin has fundamentally changed our definition of 'currency' and has ushered in a new era of cryptocurrencies and Web3.