It has been 12 years since the publication of the whitepaper dated 31 October 2008. Twelve years ago "cypherpunks", a small group of cybersecurity engineers and programmers; He received an email from an anonymous person named Satoshi Nakamoto.
Bitcoin Whitepaper
Satoshi presented a new peer-to-peer electronic payment system in his email titled "Bitcoin". Later, this 9-page document went down in history. Satoshi's method does not require third parties such as banks or financial regulators. Each BTC owner can own their own bank with private keys on their computer / online wallet / crypto exchange.
Bitcoin itself emerged on January 3, 2009, when Satoshi Nakamoto (some believe to be a group of people) launched the genesis block of Bitcoin. The following statements are used in the whitepaper:
The fully peer-to-peer version of electronic money allows online payments to be sent directly from one side to another without going through a financial institution.
What is needed is based on cryptographic evidence rather than trust; It is an electronic payment system that allows any two parties to transact directly with each other without the need for a third party.
Post-halving bull cycle welcomes Bitcoin's 12th anniversary
The 12th anniversary of the Bitcoin whitepaper is of particular importance to Bitcoin, as it marks the third post-halving cycle.
Every four years, Bitcoin experiences a block reward halving that halves the rate at which the new BTC is issued. As BTC approaches its fixed supply of 21 million, the pace of production slows.
Historically, a halving has had a positive effect on bitcoin price. It was an activity that slowed the speed with which new BTC supply came to the market. As a result, less BTC flows into the market every four years.
For this reason, the 4th, 8th and 12th anniversary of Bitcoin is more remarkable than the others. This anniversary coincides with the post-halving cycle since the last halving occurred in May 2020.
The price of Bitcoin on "Whitepaper day" has also grown significantly over the past decade. Bitcoin broke the price record for the last 33 months, surpassing $14,000.
Bitcoin is heart. ♥️