Bitcoin Mass Adoption
Cryptocurrency Explained for Individuals & Small Business
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THE CENTRAL BANK MUST BE TRUSTED NOT TO DEBASE THE CURRENCY, BUT THE HISTORY OF FIAT CURRENCIES IS FULL OF BREACHES OF THAT TRUST. BANKS MUST BE TRUSTED TO HOLD OUR MONEY AND TRANSFER IT ELECTRONICALLY, BUT THEY LEND IT OUT IN WAVES OF CREDIT BUBBLES WITH BARELY A FRACTION IN RESERVE."
Satoshi Nakamoto
On 9th January 2009, at 6:15pm GMT, unknown person(s) under the pseudonym Satoshi Nakamoto mined the genesis block of the Bitcoin blockchain and released the first cryptocurrency software to the world.
Embedded in the genesis block of the Bitcoin blockchain was the hidden message:
“THE TIMES 03/JAN/2009 CHANCELLOR ON BRINK OF SECOND BAILOUT FOR BANKS”
"THE PROBLEM, IN A NUTSHELL, IS THAT OUR MONEY CURRENTLY DEPENDS ON TRUST IN A THIRD PARTY FOR ITS VALUE. AS MANY INFLATIONARY AND HYPERINFLATIONARY EPISODES DURING THE 20TH CENTURY DEMONSTRATED, THIS IS NOT AN IDEAL STATE OF AFFAIRS."
Nick Szabo
"...ALL MONEY MANKIND HAS EVER USED HAS BEEN INSECURE IN ONE WAY OR ANOTHER. THIS INSECURITY HAS BEEN MANIFESTED IN A WIDE VARIETY OF WAYS, FROM COUNTERFEITING TO THEFT, BUT THE MOST PERNICIOUS OF WHICH HAS PROBABLY BEEN INFLATION."
Nick Szabo