I just learned about Satoshi Nakamoto

If you are like me who haven’t known much about cryptocurrency, you might be wondering who Satoshi Nakamoto is. So, let me share with you the things that I learned about Satoshi. If you haven’t read my previous article you probably haven’t known yet, that I made this goal of understanding what cryptocurrency is and just randomly anything about it. So today, I allocated a bit of my time to continue that journey that I am determined to do. And today, I have learned so many things that still seemed to be a bit confusing, so I decide to focus my attention to dear Satoshi. Again, this article is based on my personal understanding, there is surely many writers out there who were able to write so many good articles about Satoshi such as the one written by Pantera. I am making it clear that everything I write here is based on my personal research, so if I mistakenly write something than can be corrected, I would love to hear you mention it in the comment section so that I will get it right. 

So now let us have the question that is worth a billion bitcoins-who is Satoshi Nakamoto?

According to bitcoincash.org, Satoshi Nakamoto is the pseudonym of the man who released the white paper entitled “Bitcoin: A Peer to Peer Electronic Cash System”, on October 2008 (that is a decade and three exactly this month). He was the one who devised the first blockchain database and therefore is the man who invented bitcoin. People said that he could have been a Japanese, given his pseudonym which is obviously a Japanese name, but experts think that there are many basis that he could have been a man of a British decent given the many British English that can be found not just in the white paper that he released but also on the emails that he sent out before he disappeared.

In 2009, Satoshi released the first bitcoin software which powered the network. As I read this, I cannot help but appreciate the motives behind realizing this project of a peer to peer cash system. Now wait what did that phrase peer-to-peer meant to me. Well it meant there is no third party in between me and my money who would sometimes ask for high fees for any transaction made. Bitcoin allowed individuals to transact directly to one another (I guess we can simplify the term “peer-to-peer to person-to-person”) with low fees, and fast, reliable transactions. Satoshi’s invention allowed the success of the electronic cash system, which had been worked on for years and even decades by many people who saw the freedom that digital money brings to the society.

Though he disappeared during mid-2010, people are still talking about him and the impact he made in digitalizing cash. For years, people had speculated who Satoshi really is. Some people were asked if they were Satoshi while some came out and openly announced that they were Satoshi. Until now, we don’t know exactly who he is, or maybe who the men were behind this pseudonym. But despite their anonymity, I can’t help but be grateful to whoever pioneered this peer-to-peer electronic system. He or they allowed you and me to experience the liberating power of that P2P system (peer-to-peer system) and on top of that, liberate ourselves from the negative effects of a centralized money system.

If I were to give my two cents, it would be that this whole thing of cryptocurrency is the thing of the future. I am amazed of the ups and downs that it went through. When Bitcoin was first invented, few people believed on it, one of the few was that great guy who is always connected to the early days of bitcoin as someone who first bought a pizza out of his bitcoins, that might be the first ever transaction using bitcoin. Well, since the time it was invented, to the time that Satoshi disappeared and up to now where many and many people are coming to know of it, it had done so much and had impacted many lives for good.  It helped alleviate poverty and helped many achieved financial stability. Something each of us are surely grateful for. Let us continue to hope for the best as Bitcoin continue to gain high value among many individuals.

I guess that will be it for now! Thank for reading and see you again next time.