October 31st is such an important date for the entire crypto community. Yes, because this is indeed the date on which the Bitcoin Whitepaper was published, 12 days ago now, by a pseudonym as famous as it is mysterious: the famous Satoshi Nakamoto!
12 years later, Bitcoin is still at the top
This twelfth year of Bitcoin (BTC) has been eventful. To say the least, this year has been and is very hard for the entire planet, marking the beginning of what will surely remain as one of the most significant pandemics of our contemporary times. As France has begun its reconfinement, it is interesting to take stock of the year of Bitcoin and the large variations and fluctuations in its price against the dollar in particular.
The first trend that we observed in the Bitcoin market from the start of 2020 has been an uptrend which made it possible to change the course of $ 7,000 to $ 10,000 in the middle of February. This was therefore a good omen after a year 2019 that ended with an almost stable price around $ 7,000. Following the peak in mid-February, the price began to drop slightly before the crash of March 14. Bitcoin has also suffered the Covid effects and the fear of investors, which has dropped the price to around $ 5,000.
But morale was not low for long for those who were able to invest in BTC, in fact, detractors had not yet had time to announce the umpteenth death of Bitcoin that its price had started again and again. all hopes with. We were at that time witnessing what one might call the Bitcoin version 2020 “remount”. The price rising one by one the levels, 6000 dollars at the end of March, back above the 7000 dollars at the beginning of April. Continuous growth followed until it exceeded the symbolic bar of 10,000 dollars at the end of July, to reach above the threshold of 13,000 dollars when it was time to celebrate its twelfth candle! In short, you will understand, this year 2020 is representative of Bitcoin, capable of sometimes significant variations, it is reborn continuously. Although many would like to see it fall, it seems to come back even stronger 12 years after the publication of the white paper introducing the Bitcoin network and which would gradually convince millions of people that another monetary system was indeed possible.
The Whitepaper, the cornerstone of a new system
It is true that the Bitcoin white paper is a major piece for millions of people who relate to the blockchain and cryptocurrency community. Indeed, in this white paper published under the pseudonym Satoshi Nakamoto, we discover a presentation of a new monetary network based on decentralized blockchain technology. This network is presented as a solution to the financial and economic crisis of 2008. Bitcoin then promises an alternative to Fiats currencies controlled by state governments and central banks.
The birth of Bitcoin 12 years ago thus marks a technological and ideological turning point. From this date it is possible to transfer monetary value natively on the Internet. Indeed, the technology of the Bitcoin network makes it possible to make each bitcoin unique, the problem of double spending, which represented a major problem, has been resolved. There will be no more than 21 million Bitcoins in circulation, not one less, not one more. The work of Satoshi Nakamoto is major, his white paper simply meaning that it is now possible to send bitcoin as a means of payment as one might send an email, all without any central control body.
One thing is certain, 12 years later, the Bitcoin whitepaper has not aged a bit, it is highly recommended read if you haven’t already. A relatively accessible reading that allows you to better understand the origin of the number one crypto in the market. At the time we were still far from imagining everything that was to follow, the hundreds of altcoins created subsequently, and we were very far from the explosion of the decentralized finance market which will also have marked this year 2020. .
A discreet publication now celebrated
But let us return more precisely to the subject of our anniversary today, that of the publication of the Bitcoin white paper on October 31, 2008. It is precisely at 2:10 p.m. that the pseudonym of Satoshi Nakamoto then declared on a forum the following formula: “I worked on a new electronic cash system allowing direct transactions between individuals, without any trusted third party” and this is Eureka’s moment that still leads us to write about the queen of crypto, Bitcoin. This message is accompanied by the link to the famous “Bitcoin, a peer to peer Electronic cash system”. A white paper now translated into most languages as Bitcoin is doomed to be international. In French, this gives: “Bitcoin, a peer-to-peer electronic payment system“.
Besides the white paper published twelve years ago, what is the best kept mystery on the entire crypto planet is the identity behind the pseudonym Satoshi Nakamoto. Indeed, the hypotheses and other attempts at sham have been very numerous. Among them, we can retain, on the one hand, the figure of Satoshi Nakamoto, who is in reality only a Japanese namesake who has in fact nothing to do with all this history and who became famous in spite of himself in the whole world. The other Craig Wrigh aka Faketoshi the most famous Bitcoin impostor on the planet who kept shouting that he was indeed Satoshi Nakamoto himself but who has never been able to prove it, in over 12 years now …
Even today, movements on Bitcoin wallet addresses that could belong to the creator of Bitcoin suggest that the latter would still be active on the network. In any case the mystery remains unsolved, we will let you investigate for us, the game could be worth the candle in view of the thousands of Bitcoins held by the creator of Bitcoin!
Conclusion, one more year for our favorite Bitcoin, the one we follow and around which an entire industry has developed. Today, even the biggest companies are getting started: MicroStrategy, Square, PayPal … So we wonder what more Bitcoin will have in store for us before we come back here to celebrate our birthday again! On behalf of the entire Thecointribune team and all of our readers, dear BTC, we wish you an excellent and happy birthday on your 12th birthday! Full of happiness, health and especially the 20k in sight!
Guillaume has been passionate about Blockchain technologies and cryptocurrencies for several years now. He strongly believes in mass adoption of these in the years to come. Eager for crisp news and always on the lookout for the latest trends in the cryptocurrency market, he takes pleasure in sharing all their secrets with you!