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WOULD SATOSHI BE ASHAMED OF BITCOIN MAXIS?

 


The emergence of the bitcoin community

Back when Satoshi Nakamoto presented the white paper for the most important invention since the Internet, he presented the concept of a "peer-to-peer electronic money system". First introduced to a group of cypherpunks on the Cryptography Mailing List in the wake of the Great Financial Crisis in October 2008, Bitcoin was Satoshi's ingenious answer to the many failings of governments and central banks around the world.


That's why he also published the text about the banking crisis at the time in the Genesis block (first Bitcoin block ever):


The Times 3/Jan/2009 Cancel for on brink of second bailout for banks.


He is referring to a Times article from January 3, 2009, when the second bank bailout package was withdrawn.


Satoshi never concealed his disdain for the traditional financial system. In the Bitcointalk forum, he also pointed out the problems of trust in the banks and propagated Bitcoin as the world's first decentralized alternative.


Bitcoin quickly grew into a small community of people who believed in freedom and self-determination.


Bitcoin grew thanks to its passionate community of believers, but it eventually became apparent that it had changed since Satoshi introduced it as "a peer-to-peer electronic cash system."


bitcoin community

The attention of big companies

A notable development of Bitcoin over the past year has been the attention it has received from major corporations and nation states amid a heated crypto market.


Michael Saylor's MicroStrategy has collected a staggering 129,000 bitcoins to date, while El Salvador became the first country to adopt bitcoin as its official currency.


Rich bitcoin whales such as Max Keiser, Stacy Herbert and Samson Mow decided it was their duty to stock up on plenty of bitcoins, but they also saw it as their duty to help El Salvador and other developing countries.

Toxic maximalism

The bitcoin community has become increasingly toxic in recent years, perhaps because its loudest thought leaders are so visible & given a powerful voice on social media like Twitter. There are many early adopters who withdrew as "toxicity" increased and new innovations emerged - people like Erik Voorhees, Meltem Demirors and Nic Carter - and they have been branded "shitcoiners" by Bitcoin cultists.


Conclusion

Bitcoin is & probably forever will be the mother of all cryptocurrencies. Bitcoin is certainly the measure of all things, but does this necessarily mean that something good cannot exist alongside Bitcoin? We should pay more attention to our external impact and how people might feel who have not yet had any contact with Bitcoin.


There will have to be an easy and, above all, understandable explanation with a view to the next few years, arrogance and overconfidence will definitely be out of place.

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