The Origin of Bitcoin

Was Bitcoin's origin coincidental or was there someone out there who really wanted a change in how money was transferred between people?

There were obviously some who saw some weaknesses in the monetary system back in 2008. One of the major weaknesses in my opinion is the involvement the banks and authorities have on our private lives. How could you remove “the players” from “the game”?

A person/group/community named was the one who found the “system” that could change everything within today’s financial system. What did the person or the community wish for to change? Three points should prove to be very important. The first was a way to pay from one person to another, without the "terrible" banks being involved and getting too well paid to be involved. Not only should it be possible to pay with money, but also transfer ownership to the house, car, boat without the banks having to profit from it. What I'm talking about here is a person-to-person payment, what we call in short: P2P.

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The next point was that those who paid or received payment should be able to do so without the authorities interfering. Satoshi believes that the authorities had interfered too much already, it was time for privacy to be reintroduced. If you pay with cash, no one finds out, only the two who were involved in the transaction. The transaction is completely anonymous. However, with more and more digital money (I'm talking about Visa and Mastercard) it had become possible for the authorities to interfere in privacy yet again. In my opinion the authorities have nothing to do with whom I make transaction with; it is a personal matter. Don’t you agree?

The third point said that the above points should work even if some of those who participated had problems with their computer, and the information shared would not interfere with privacy. The entire network of participants was to be based on a decentralized architecture. Everyone was to have access to everything, all the time. If thousands of computers were involved and everyone had everything, it did not matter if a few computers suddenly had problems, or the power went out. At the same time, this would make it impossible to hack and enter fake transactions, or steal money, since in that case you would have to hack a majority of the thousands of the computers that participated to the network.

You probably already figured that the above points should prove to be the "white paper" of Bitcoin, and the technology behind was Blockchain and this became public in 2008. Satoshi did meet a lot of criticism but there were a small bunch of important and influential people who embraced Bitcoin and Blockchain, and thought the idea was outstanding. And then what? A new wave of technology development started almost immediately.

You could read from the newspaper in 2015, that people were already calling the Blockchain a "trust machine". Everyone went around saying simply that Blockchain is going to change the way the world economy works. On top of this, many other cryptocurrencies were developed as well, and as a result, DeFi develops with countless of many projects that have shown to create fortunes for many of us, and at the same time giving us a sense of freedom.

The last few years have been exclusively positive for the crypto sphere and as I see it, we have barely got an understanding of how this will turn out to be, but so far, we are probably all impressed with how fast and relentless everything has become, despite all the criticism on the way.

Cheers
-Olebulls

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