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Here are key passages from the book extract allegedly written by Satoshi Nakamoto, the unknown person or the people who created Bitcoin. Bloomberg News has been unable to independently verify its authenticity, although the amount of detail is unusual. Text is taken verbatim without correction for syntax or grammar.
- The principles of bitcoin come from the cypherpunks, a community to which I naturally interested myself at the age of fourteen, where anonymity was as fundamental as breathing. freedom of expression in an open society, one had to be able to express oneself fully and anonymously
(I'm going to take a moment to explain something, I know some of you may read to be this about it for the first time, may not know, so I should declare it publicly, even though now it is supposed, but has never been publicly declared before, so I will make it official.)
Satoshi Nakamoto is not a real name. More specifically, not a legal name.
It is above all the essence of thought and reason. - In April 2009, Mike Hearn first sent an email asking for information about the project. For all intents and purposes, Mike seemed to me to be someone who knew what he was talking about but who was nevertheless eager to learn new things. His curiosity stung me as someone curious, wondering if bitcoin was based on a "global chain" or more, what most people call the "blockchain". I've shown how this was part of a global chain, with all the blocks being part of this chain.
I do not think anyone knows, but the word blockchain came into play only after the fact. Prebitcoin, he was called, timechain. This is because it was not about early blocks, but rather time, especially the precise time intervals during which the blocks were released. - Bitcoin is able to supplant centralized networks in a variety of ways. This is why some incumbents feared Bitcoin, not because of the wow factor, but because of its network advantages. In terms of speed and security, bitcoin was superior. It was, for the first time, a distributed network of nodes that validated an immutable record (the blockchain), which in this case was a form of currency. Even if one of these nodes went down, the chain would continue as before
- By referring to Moore's Law, I really thought that computers would be equipped with hardware that, at the time I would write this, would be 100 times faster than it was ten years ago. I was wrong.
In truth, the material did not advance as fast as I had planned and actually did a disservice. I then learned not to speculate on the future. Because you are usually wrong. - People can forget this fact now, but for the first year, it was mostly me who participated alone and actively in the network. I kept both of them, I used it, applied code changes, bug fixes, and promoted their use. In fact, most people started to install Bitcoin once and never use it again, bypassing the intended use. Hal Finney was the only person who really got out of it and stayed with him that first year
- What did not happen (at the time), what I was doing? I found strange, was whether Satoshi Nakamoto was just one or a group of us. Here's where I'm going to stop. But the truth is a truth that people do not expect. Because the truth is too special to give, requires a long answer, which will be in the book.
I will say this though, consider for a moment the distinction; As to whether I had any help or if I was part of this creative help, I separated it from the person who followed it, which was very consistent . - There are always questions that come up, either me or about how bitcoin was designed. Questions about the choice of encryption, the size of the block, the offer, the programming language of choice. I will start with the most obvious question, then try to answer others throughout these pages.
For starters, many may wonder what is the reasoning behind the fixed offer. Why 21 million? The truth is that it was an enlightened guess. Mathematics worked, or as close as I wanted. Before settling on 21 million however, I had planned to do 100 BTC as a reward, and 42 – the answer to life, the universe, and everything. But, fearing that others would consider my reference to the Galaxy Hitchhikers' Guide as a joke and at the expense of not being taken seriously, I changed it to 21 million. - I know it's easy to imagine that Bitcoin is out of nowhere. but in reality, it was not the case. This stems from the many unsuccessful attempts of many groups, and the only reason he was successful was because he was in the right place at the right time. And even though I did not exactly plan for the start of a financial crisis – who could predict that (curious answer – wait for the rest), this served as an impetus and I think that if it had not been the case,
- To this day, I still think about the quality of a person that Hal [Finney] was and how, if it was not for him Bitcoin would not have succeeded as she had done. . When I did not have support, when it was just me, Hal was the only other person who believed in what I was trying to do. If a person must receive a credit for bitcoin and its initial success, it's him. Hal unfortunately passed away in August 2014 from a debilitating illness, ALS. But until the very end, Hal continued the fight and was as happy as one could be despite all the obstacles. He was aware of his own mortality and accepted the time that it remained as a virtue.
- This famous quote from him that is often evoked when he explains how he's interested in cryptography puts the emphasis on similar beliefs that we all share. The reason that has united us all.
"It seemed so obvious, here we are faced with the problems of loss of privacy, rampant computerization, massive databases, centralization – and Chaum offers a completely different direction , which puts power in the hands of governments and businesses.The computer can be used as a tool to liberate and protect people, rather than to control them. "- Finney, Mailing List Cypherpunks in 1992 - And with that, where is this magical story in the history of what was once, concludes.
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