DEV Community

loading...
Cover image for The Satoshi Mindset | Bitcoin, a stoic response to a financial problem

The Satoshi Mindset | Bitcoin, a stoic response to a financial problem

blahblahman
・2 min read

Satoshi Nakamoto is a symbol of hope.Not because the pseudonymous creator of Bitcoin birthed a brand new currency, a payment system, or even that he solved an ages old computer science problem, no it’s much deeper than that.

On January 03 2009, block 0 of a new distributed system was mined. Contained within, was a message, “The Times,03/Jan/2009, Chancellor on brink of second bailout for banks”, revealing some of the thinking behind its genesis.

Taking into account that this was in the midst of the financial crisis, and combining that with later writings, we can infer that Satoshi wasn’t happy with the economic system he found himself in.

What’s interesting though, is that instead of complaining,grumbling, whining, lobbying politicians, voting,protesting, occupying wall street, or any of that — ALL which I might add, never achieved any of their desired outcomes — he dared to create an alternative, and asked permission from no-one.He saw the problems of the world and what he could do about them without crying out or bawling out to anyone.

Even though we still live in this imperfect world, with many of the same corrupt forces,you could argue that Bitcoin has already succeeded in that it:

  • Created a censorship-resistant system used by millions of people

  • Created the most powerful computer hashing network in existence

  • Created a market valued at multiple billions, all from nothing

  • Has been used as a safe haven by citizens in failed states around the world

  • Spawned a whole raft of other important software innovations

As Peter Thiel would say, that is a 0 to 1 development. Satoshi started all of this when he sat down and figured out how to solve a seemingly unsolvable problem.

continued - https://vocal.media/theChain/the-satoshi-mindset

Discussion (0)