1/ 10 years ago today (Fri 6:10pm 2008-10-31 UTC) Satoshi Nakamoto announced the creation of #Bitcoin to the cryptography mailing list. Satoshi's creation is the most important innovation to money (itself the most important good in any society) in a thousand years.
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3/ Never in the history of the world had it been possible to transfer value between distant peoples without relying on a trusted intermediary, such as a bank or government.
Nakamoto’s invention allowed this for the first time ever.
2/ When the Bitcoin network launched in 2009, very few people understood its significance. Today, ten years later, Bitcoin's market capitalization stands at over 100 billion dollars.
The great Hal Finney RIP, the first person to receive bitcoins from Satoshi, grokked its import:
4/ Beyond the financial case for Bitcoin, its rise as a non-sovereign store of value will have profound geopolitical consequences. A global, non-inflationary, reserve currency will force nation-states to alter their primary funding mechanism from inflation to direct taxation.
7/ Our posterity will return to a world of sound money - "an indisputable monetary base" - that Charles de Gaulle aspired to after the great calamity of World War 2.
50 years from now, that monetary base will be #Bitcoin.
5/ It is only now, tens years after the birth of #Bitcoin, that the financial establishment is beginning to perceive a threat to the monopoly they've created over money for the last century:
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