The 11th anniversary of Bitcoin, where is the father of Bitcoin?

中本咖喱

特邀专栏作者

2020-01-03 16:41 (UTC+8)

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The 11th anniversary of Bitcoin, where is the father of Bitcoin?

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The 11th anniversary of Bitcoin, where is the father of Bitcoin?

Nonsense

On January 3, 2009, eleven years ago today, the Bitcoin Genesis block was born, and Bitcoin has been running for eleven years. At the beginning, the trading volume of Bitcoin was very small, the price was worthless, and it was declared "dead" countless times due to various reasons, but it has bumped and bumped all the way, and now it has developed to a market value of nearly one trillion yuan, which is already a behemoth. Moreover, there is very little human intervention in the program during the operation of Bitcoin, so such a decentralized and automated system is rare.

For a long time, many people have looked down on Bitcoin, thinking that Bitcoin is just a string of virtual codes, comparable to the tulip bubble. But the face is that Bitcoin is developing better and better. Although the development of Bitcoin is inseparable from the promotion of institutions and vested interests, the exquisite mechanism, concise code, open and transparent rules, and decentralized The operation has also become the reason for believers to pursue it.

Due to the success of Bitcoin, its founder Satoshi Nakamoto has also become a "god" in the mouth of Bitcoin believers. In the eyes of his "believers", he is a prophet, a great economist, a top password geek, a traveler of the future world, and so on.

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Satoshi Nakamoto's technology

To understand how Satoshi Nakamoto created Bitcoin and what it was like in the early days of Bitcoin, it is necessary to mention an organization "cypherpunk". Is the birth of Bitcoin the power of Satoshi Nakamoto alone, or the power of brainstorming? Because Satoshi Nakamoto is a member of this organization, the improvement of Bitcoin is also inseparable from the help of other members.

Cypherpunk is a non-governmental organization. In 1993, Eric Hughes published "Cypherpunk Manifesto" and the word "cypherpunk" first appeared. This organization is composed of many password geeks and IT elites, such as Assange, the founder of "WikiLeaks", Bram Cohen, the author of BitTorrent, Tim Bonas Lee, the inventor of the World Wide Web, and the inventor of smart contracts. Nick Szabo, Facebook co-founder Sean Parker, and of course Bitcoin creator Satoshi Nakamoto.

These well-known big cows in the field gathered together. Although this organization has loose management and no formal leadership, in order to achieve the same goal, many cypherpunks have made outstanding achievements in their fields of expertise. Being able to be with these people also proves the strength of Satoshi Nakamoto. But judging from the frequent occurrence of software bugs, he can only be regarded as excellent.

Bitcoin was not perfect when it was first born. On the contrary, it was full of loopholes. The 0.01 version of Bitcoin released on January 9, 2009 can be said to have endless bugs and a very low degree of completion. It is as simple as the current App developed by one person. For another example, the Bitcoin client before version 0.2 only released versions for Mac OS and Unix systems; only version 0.2 began to have a Windows version of the client, and when it was first launched, it frequently reported errors and crashed. These are just software problems. In the early development of Bitcoin, there were also major bugs.
For example, at the end of July 2010, in version 0.3.5, someone dug out millions of bitcoins in block 74638. In fact, under normal circumstances, the block reward is only 50 bitcoins, which is a world of difference. Fortunately, that accident happened in the early days of Bitcoin development. At that time, a Bitcoin was only worth about RMB 1, and there was no market for it. There were not many people involved in mining, and most of them were enthusiasts in the crypto circle. , and don't pay much attention to such a small profit.
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Satoshi's Economics

Although Bitcoin is called a "coin", it is actually very different from the currency we know when it was designed. In fact, it is not Satoshi Nakamoto's pre-design that Bitcoin can now have a market value of trillions and gradually possess some functions of currency, but it is due to the characteristics of blockchain technology that can meet market pain points.

For example, Bitcoin was first used on a large scale in the "Silk Road Dark Network". What they do is illegal, and this anonymous medium is needed for circulation. The best example is that after the birth of Bitcoin, among the content about Bitcoin left by Satoshi Nakamoto, only a reply to a post posted by a netizen on the forum on July 27, 2010 simply mentioned Bitcoin. currency attribute.

That post was titled "Bitcoin Doesn't Violate Mises' Regression Theorem". So what is the "Mises Regression Theorem"? Mises is a scholar of the Austrian school of economics. This theorem explains how money has a price. The netizen who posted the post made an analysis based on this point of view, and believed that Bitcoin is likely to become a real currency.

Satoshi Nakamoto's reply below is much simpler. He also analyzed the properties of Bitcoin and believed that even if there is no intrinsic value in the world, this thing can still be used as currency. In other words, even if Bitcoin is only scarce and has no intrinsic value, it is possible to use it as a currency.

In fact, the premise of Satoshi Nakamoto has already contradicted the Mises regression theorem. Because in it, things that perform the function of money have intrinsic value. For example, precious metals such as gold and silver, before the collapse of the Bretton Woods system, the US dollar was also linked to gold.

However, Satoshi Nakamoto made the assumption that in violation of this theorem, people would be able to use Bitcoin as a currency only through scarcity. Therefore, his conclusion is not supported by any theory. Moreover, Satoshi Nakamoto’s remarks also set a bad start for the later imitations of Bitcoin. Most digital currency project parties have touted the constant amount of Bitcoin to satirize the inflation caused by the unlimited issuance of general currency. The number of tokens that hype themselves is scarce, hoping to deceive investors who don't know the truth to buy them. The current chaos in the currency circle has to be said to be the "great contribution" of Satoshi Nakamoto.

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The disappearing Satoshi Nakamoto

A mythical figure created a whole new electronic currency system, then suddenly disappeared without a trace. This incident is easily reminiscent of the storyline in the novel, such as traveling back from the future, bringing a new rule and a new order, and returning to the future after everything is done...

As Bitcoin is used more and more, the price skyrockets. If you come out to admit that you are Satoshi Nakamoto when it is soaring, it will give people a public opinion that you are the creator of Bitcoin. This is not in line with the vision of geeks to create a decentralized society. Therefore, Satoshi Nakamoto So he continued to hide, and as the price of Bitcoin became higher and higher, Satoshi Nakamoto was worried that he would be remembered by others, so he simply stopped showing up under the name of Satoshi Nakamoto, but changed his face and continued to promote the development of Bitcoin.

After eleven years of development, Bitcoin's computing power has been gradually monopolized by "miners", its price has also been manipulated by "giant whales" for a long time, and its development has stagnated due to differences between various stakeholders. The "legacy" left by Satoshi Nakamoto, when Bitcoin was not worth much, was also the best era of Bitcoin. Bitcoin supporters did not pay attention to personal interests, but only adhered to the concept of freedom, and built a decentralized ecology.

If it is placed in the present, a bitcoin is 50,000 yuan, and because of the interests of all parties, it will inevitably cause irreconcilable conflicts. The development of bitcoin to today has completely declared the failure of decentralized governance, which reflects the people's hearts in the face of interests. Terrible, worthy of reflection.

On the other hand, is there nothing great about Bitcoin? Regardless of how many "myths of wealth creation" it has created, the core key is that it represents the origin of blockchain technology. Calvino once said: Important things can only be achieved through a very slow process. After eleven years of development, blockchain technology was born from Bitcoin, and has gradually separated from Bitcoin and penetrated into many fields. We all recognize the future prospects of blockchain, and all walks of life hope to apply blockchain to our real life to make this society better.

BTC: From last night to this morning, Bitcoin has another trend similar to that of the word market. After it hit in the early morning, it pulled up instantly. I think it is a little bit below 7000. Last night's market was a bit of a fixed-point liquidation, and it knocked down a lot of the bottom. Now there is a node around 7320 above the market, and we cannot blindly chase higher. You can try to enter the market with empty orders above 7300, and you have to catch more orders when you come down.

If you want to invest in Bitcoin but haven't found an effective profit method, or you have stockpiled spot but don't know how to use contracts to hedge risks, or you like Nakamoto Curry's humor, welcome to communicate.

Don't worry about having no confidants on the road ahead, but there are friends on the investment road. I am Nakamoto Curry (BTC6668888), and I am willing to stand with you through thick and thin!

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