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Bitcoin birthday: BTC whitepaper release clocks 13-year-old

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TL;DR Breakdown

  • Today is Bitcoin birthday as BTC whitepaper was published today 13 years ago.
  • Bitcoin birthday: BTC has surged by over 2trillion percent since it was first mined.
  • The search for Satoshi Nakamoto still on.

Bitcoin birthday is today as it celebrates the 13th year its white paper today.

Satoshi Nakamoto, the pseudonym developer of Bitcoin published the foremost cryptocurrency white paper on October 31, 2008. The paper was titled Bitcoin: “A Peer-to-Peer Electronic Cash System.”

The paper which explains the entire Bitcoin project was all about eliminating the centralized third-party system, which will allow people to become their own bank and transact with each other without relying on a “third-party” to process the transaction.

It noted the problems associated with the centralized electronic payment system while it proposed its own decentralized anonymous peer-to-peer protocol solves the issue.

Just as Bitcoin is today, Satoshi proposed in the white paper 13-years-ago how the protocol would be built on a cryptographically secure system that lays the foundation of what is known as the backbone of cryptocurrencies today – blockchain technology.

Bitcoin birthday: BTC’s over 2,066,670,000% surge since inception

The first Bitcoin was mined on January 3, 2009, after the white paper was published. Today, it has grown to be one of the strongest currencies in the globe.

In just 12 years, Bitcoin’s value has surged by over 2 trillion percent and has a market cap of over $1 trillion. It currently worth 44 percent of the entire value of coins in the crypto market. BTC is the most valuable cryptocurrency in the world.

Bitcoin has grown by more than 2,066,670,000% since 2010, with the first-ever recorded trading price being $0.003 on the now-defunct exchange Bitcoin market.

Craig Wright, Satoshi Nakamoto?

Craig Steven Wright, an Australian computer scientist, and businessman has publicly claimed to be the pseudonym Satoshi Nakamoto that developed Bitcoin.

However, his claims have landed him several lawsuits challenging his claims and demanding proof that he is indeed Satoshi Nakamoto.

Amidst his claims, the identity of Satoshi remains a mystery, an unsolved puzzle among the crypto community. No one knows the true identity of the pseudonym that created Bitcoin because he faded away from the scene in 2010.

Speculations continue to mount over who the person is but efforts to find him/her have been abortive till today. It is why many believe the person is already dead.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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