cryptofamily

The Bitcoin Concept Turns 16

On October 31, 2008, a month after the start of the global financial crisis, a person (or group of people) under the pseudonym Satoshi Nakamoto published a white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System."

The nine-page document describes the operating principle of the peer-to-peer payment system. The cryptocurrency itself was actually launched only three months later, when Satoshi mined the first block of transactions in the Bitcoin blockchain. At that time, low mining difficulty made it possible to mine bitcoins on regular computers, and the reward for a mined block embedded in the code was 50 BTC ($3.6 million at the current exchange rate).

The document has been translated into many languages. It is still unknown who exactly is behind the creation of the first cryptocurrency.

I hope we'll find out who Satoshi Nakamoto is or was after all. 2000 $DEGEN

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