We are writing the year 2009.
The world is still shaking in after effects of 2008 financial market crisis.
The fall of Lehman Brothers was the eruption of deregulated financial system.
The people not only lost their houses, savings and jobs. They have also lost confidence in banks, financial institutes, governments and in holy-cow itself, capitalism. Was Karl Marx right? (The Economist)
Occupy Wall Street, and call for more regulation are trends of the year.
An idea that is not dangerous is unworthy of being called an idea at all. (Oscar Wilde 1854-1900)
What is Bitcoin?
Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list (bitcoin.org)
How does Bitcoin work?
From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive Bitcoins with them.
Behind the scenes, the Bitcoin-network is sharing a public ledger called the "blockchain". This ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction.
The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own Bitcoin addresses. This is often called "mining". (bitcoin.org)
On January 3rd 2009, the Bitcoin-network came into existence with Satoshi Nakamoto mining the genesis block of Bitcoin (block number 0).
By using the pseudonym, Satoshi Nakamoto's first steps of the Bitcoin says more about environment than about technology itself .
Besides all technical views and ideology of blockchain technologie.What is the blockchain message? Two words; No Middleman!
For now, nobody knows who or what Satoshi Nakamoto is. We could say by using pseudonym, Satoshi Nakamoto makes sure that message arrives and not the messenger is in focus.Or he/she did not want to take responsibility for after effects of Bitcoin.
Every brave idea needs a brave one to express it.
To be continued..
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STOPnice article. its a good reading.