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Tuesday marks nine years since Satoshi Nakamoto announced the creation of the Bitcoin “Peer-to-Peer Electronic Cash System.” The Bitcoin whitepaper, still available on the same Bitcoin.org domain as it was in October 2008, offers an increasingly fascinating view into the niche project which in October 2017 has a market cap of over $100 bln. The document famously begins:
“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” “Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network.”
Those networks are now used by three mln users every day, with that number expected to increase to 200 mln within just seven years projections state. This year’s anniversary is especially timely as Bitcoin reaches new all-time highs without a hint of serious price corrections.
Oct. 31 this year is also significant for other reasons, the date marking the deadline by which China’s domestic market exchanges must cease providing Bitcoin-to-fiat trading.
You can read more about this here.
“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” “Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network.”
Those networks are now used by three mln users every day, with that number expected to increase to 200 mln within just seven years projections state. This year’s anniversary is especially timely as Bitcoin reaches new all-time highs without a hint of serious price corrections.
Oct. 31 this year is also significant for other reasons, the date marking the deadline by which China’s domestic market exchanges must cease providing Bitcoin-to-fiat trading.
You can read more about this here.
Wow, so Bitcoin is now officially a 9-year old kiddo! Still so young and looking forward to more actions in the coming years, Bitcoin is actually a very experienced guy who had been through a lot of ups and downs but is now showing its strength and agility as it just passed the $6,000 benchmark and can be panning to go ahead and surge to the $10,000 as we are about to leave 2017 and enter 2018.
As it is approaching its first decade of existence in 2018, there would be more stories that can be created with Bitcoin. There would be more drama to unfold and more excitement to be felt by everyone. Now, where can I find the cake for Bitcoin? Or should we then order some pizza?