The Shadow of Satoshi’s Ghost: Why Bitcoin Mythology Matters

How the myth-making round Satoshi reinforces what makes bitcoin distinctive within the panorama of worldwide monies.

On Wednesday, a batch of cash mined only a month after bitcoin’s start have been moved. It was the primary time since August 2019 that any bitcoin from early 2009 had been transferred, and the motion set Bitcoin Twitter on fireplace. While plenty of bitcoin archaeologists shortly and persuasively argued the tokens have been virtually assuredly not mined by bitcoin creator Satoshi Nakamoto, it was a second that strengthened the residing historical past within the bitcoin ecosystem. 

In this episode, NLW seems at what makes the Satoshi mythology highly effective: 

And whereas the battles inside the bitcoin neighborhood round interpretation could look extra just like the early historical past of religions than like a enterprise ecosystem, NLW argues that fervor is a key a part of what de-risks bitcoin, even for buyers who don’t in any respect care in regards to the mythology.

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