financeguy74 on Nostr: THE STORY OF BITCOIN: BY SATOSHI NAKAMOTO AND TRANSLATED BY SEAN MURRAY It's the ...
THE STORY OF BITCOIN: BY SATOSHI NAKAMOTO AND TRANSLATED BY SEAN MURRAY
It's the worst kept secret. The banks don't have the silver to back up the cash they print, which in Neal Stephenson's novel Cryptonomicon, has resulted in a cutthroat race to the bottom for fiat where banks are printing money on worthless old newspapers.
"The millions of promises printed on those slips of bumwad will all be kept or broken in the next 10 minutes; actual pieces of silver and gold will move, or they won't," Stephenson writes. "It is some kind of fiduciary Judgment Day."
Nine years later, a pseudonymous cryptographer, releases a whitepaper on Stephenson's birthday that will change money forever. His name is Satoshi Nakamoto, or so he says. It's clear that's not his real name, and he wants everyone to know one thing, that the era of cyberpunk has returned through Bitcoin.
Come January 2009 he'll take the world on an adventure through the greatest cyberpunk novel of all time, William Gibson's Neuromancer. There, Satoshi will become Henry Dorsett Case, the protagonist American living in Japan who loves to "jack in" to cyberspace. Problem is Case suffered an injury that makes it impossible for him to "jack in" anymore. Case turns to a risky life of shadowy dealings and has nothing more than 50 "New Yen" currency to his name when it seems like time has run out and he will die. But then, a powerful AI offers him a deal. The AI will return his health and his ability to "jack in" once again in exchange for going on a mission to find and deliver a secret password that it needs.
Only one person in the world knows that password, Case learns, a young woman named 3Jane, the scion of the Tessier-Ashpool family. Though she is the focus, she has a brother who's always in the background, 8Jean. The mother and father are dead, the father having been driven to suicide. Once Case learns about the mission, he's rendered dead for 5 seconds but comes back to life and is told that he must actually wait 8 days before he can "jack in." Eight days later, it all begins.
Satoshi tells the story his way when he brings Bitcoin into the world. He creates the Genesis Block on 3Jan as tribute to 3Jane, and then dies for 5 seconds (as told in the unix timestamp 1231006505). He hides a message in the code that says "The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks." It's a nod to Stephenson and the worthless currency banks print on old newspapers and the 50 original bitcoins meant to represent the 50 New Yen that Case has to his name. Satoshi mines the first block on 8Jan as a tribute to 8Jean, appropriately attributed to mining since he's always out of sight, and finally "jacks in" after waiting the 8 days Case needs by doing the first bitcoin transaction with the honorable Hal Finney on January 11th. The time between bitcoin blocks is approximately 10 minutes, which as Stephenson said is the precise time that the world holds its breath to see if paper currency will still have value or not. It's the fiduciary judgment day over and over again.
jack (npub1sg6…f63m) #bitcoin
It's the worst kept secret. The banks don't have the silver to back up the cash they print, which in Neal Stephenson's novel Cryptonomicon, has resulted in a cutthroat race to the bottom for fiat where banks are printing money on worthless old newspapers.
"The millions of promises printed on those slips of bumwad will all be kept or broken in the next 10 minutes; actual pieces of silver and gold will move, or they won't," Stephenson writes. "It is some kind of fiduciary Judgment Day."
Nine years later, a pseudonymous cryptographer, releases a whitepaper on Stephenson's birthday that will change money forever. His name is Satoshi Nakamoto, or so he says. It's clear that's not his real name, and he wants everyone to know one thing, that the era of cyberpunk has returned through Bitcoin.
Come January 2009 he'll take the world on an adventure through the greatest cyberpunk novel of all time, William Gibson's Neuromancer. There, Satoshi will become Henry Dorsett Case, the protagonist American living in Japan who loves to "jack in" to cyberspace. Problem is Case suffered an injury that makes it impossible for him to "jack in" anymore. Case turns to a risky life of shadowy dealings and has nothing more than 50 "New Yen" currency to his name when it seems like time has run out and he will die. But then, a powerful AI offers him a deal. The AI will return his health and his ability to "jack in" once again in exchange for going on a mission to find and deliver a secret password that it needs.
Only one person in the world knows that password, Case learns, a young woman named 3Jane, the scion of the Tessier-Ashpool family. Though she is the focus, she has a brother who's always in the background, 8Jean. The mother and father are dead, the father having been driven to suicide. Once Case learns about the mission, he's rendered dead for 5 seconds but comes back to life and is told that he must actually wait 8 days before he can "jack in." Eight days later, it all begins.
Satoshi tells the story his way when he brings Bitcoin into the world. He creates the Genesis Block on 3Jan as tribute to 3Jane, and then dies for 5 seconds (as told in the unix timestamp 1231006505). He hides a message in the code that says "The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks." It's a nod to Stephenson and the worthless currency banks print on old newspapers and the 50 original bitcoins meant to represent the 50 New Yen that Case has to his name. Satoshi mines the first block on 8Jan as a tribute to 8Jean, appropriately attributed to mining since he's always out of sight, and finally "jacks in" after waiting the 8 days Case needs by doing the first bitcoin transaction with the honorable Hal Finney on January 11th. The time between bitcoin blocks is approximately 10 minutes, which as Stephenson said is the precise time that the world holds its breath to see if paper currency will still have value or not. It's the fiduciary judgment day over and over again.
jack (npub1sg6…f63m) #bitcoin