A whitepaper was published, the result of deep research into peer-to-peer systems. Satoshi came up with a solution to the Byzantine Generals’ problem. It was the beginning of a revolution that will change the world in the next twelve years. Only a few people believed at first, the next few years were tumultuous but slowly it gained value and converted the hearts of few people at a time. Governments fought against it, banks said it was a scam, they said it facilitated terrorists. Leaders said Bitcoin is “money in a thin air”. Countries banned cryptocurrencies on the account that it cannot be taxed, it is leaderless so no one can be held responsible.
It is now a day more than twelve years since the Bitcoin whitepaper was published, countries are on the race to build Central Bank Digital Currencies (CBDCs) which is based on Bitcoin’s blockchain technology. A surprise? No. Did someone changed their minds? Maybe. But somehow, it seem they have researched and came to a conclusion that its p2p system is the best.
Bitcoin is the father of Blockchain as we know it. It is the inspiration for evolution and the large crypto ecosystem that we have today. Its leaderless nature is the core attribute of blockchain projects today. A project that survived more than a decade without its founder’s input- the true test of decentralization. Bitcoin’s current value is in the community that the same whitepaper, that we celebrated its twelve years, birthed.
“Beauty is in the eye of the Beholder”
Bitcoin has given jobs, investment opportunities, and purpose to many people. The same whitepaper is the reason for Ethereum, Litecoin, USDT, BNB, and other cryptos we have today. Bitcoin is the begining of blockchain technology, a security measure that cannot be cracked. File transfer systems use it to keep their systems safe.
The market capitalization of Bitcoin is now $250 Billion, without fundraising, no marketing budget, office, paid staff, etc.
CZ Binance, CEO of Binance, twitted:
“#Bitcoin was conceived (not born) 12 years ago on this day. A 9 page white paper evolved into $250 billion dollars in market cap today, with no fund raising, no marketing budget, no office, and no paid staff.”
Many people believe the best is yet to come for Bitcoin. Tyler Winklevoss, Co-founder and CEO of Gemini, believes Bitcoin price will hit an all-time-high before the end of 2020. Via a tweet he opined:
“I do think we will see an all-time-high price for #Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run”
What does the next ten years looks like for Bitcoin and Blockchain technology.
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