Genesis Day and Satoshi's idea of ​​monetary sovereignty

Genesis Day and Satoshi's idea of ​​monetary sovereignty

The series of bankruptcies and price declines steamed the prospects for positive progress. But Bitcoin has only become 14 today. January 3. is known as Bitcoin Genesis Day for the first BTC block that was ever dismantled by Satoshi in 2009, which paved the way for the cryptocurrency as we know it today.

The first block in the network houses a single transaction-the 50 BTC block reward-which is sent to the pseudonymous manufacturer to reduce it. The BTC mining rewards still have to be touched.

Since the creation of Satoshi's revolutionary currency system and its intrinsic currency, a lot has changed.

The Genesis block essentially reflects Satoshi's rejection of the centralized infrastructures of the current Fiat system. Instead, the developer believed in decentralized pillars that were cryptographically secured in a mathematically checkable digital system.

The old system clearly failed and shaked people's trust in the banks. The construction of a new company without all the controls and dangers meant that this was the case with the climatic collapse of the global economy, which was an important milestone.

Satoshi did not stop here. Before they disappeared in a mysterious way, they were secretly encoded with an "Easter Egg" in the Genesis block.

"The Times 03/Jan/2009 Chancellor on the sidelines of the second rescue operation for banks."

The above text is a heading for an article in the issue of The [London] Times about the failure of the British government to boost the economy after the 2007/08 financial crisis. The message was clear. The creation of the Genesis block on the same day as the news of an upcoming bank rescue is certainly symbolic.

Bitcoin was developed to fulfill the purpose of not fulfilled the financial institutions, which are considered too big to fail. In contrast to traditional banks, Bitcoin cannot be saved. There is no middle man, no third party or any kind of company unit that interferes between the asset and the consumer.

The constant popularity of Bitcoin

No lot of black visits and mainstream media that declare Bitcoin to be dead can actually stop the blockchain. The crypto asset has experienced four large bull/bear cycles since its foundation.

More than a decade later, Bitcoin remains the most popular cryptocurrency option despite the creation of thousands.

Data from Nasdaq and Ycharts that were shared on Reddit this week showed that the king cannot be dethroned soon. While Ethereum, with 408.5 million ETH transactions in 2022, recorded more than four times, Bitcoin still remains the most searched crypto. It even reported a more stable transaction volume in its network than its rival.

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