Bitcoin Turns 16 – What Bitcoin Has Achieved So Far Is Nothing Compared to What Lies Ahead.
Happy Birthday Bitcoin!
When it comes to the birth of Bitcoin, there are two special dates that every Bitcoiner needs to know. The first is, of course, October 31, 2008. It was on this day that Satoshi Nakamoto published the whitepaper for “A Peer-to-Peer Electronic Cash System”. Satoshi Nakamoto decided to call this system Bitcoin. The entire operation of the Bitcoin system is detailed in this whitepaper, and more than 16 years later, it's still relevant today.
The 3,219 words of the Bitcoin Whitepaper changed my life forever, and I suspect many of you feel the same. Bitcoin opened our eyes to the inconvenient truths of today's monetary and financial system that the educational system has done everything to hide from us for as long as we can remember.
The second date to remember is the official launch of the Bitcoin network on January 3, 2009. It was on this special day that the “Genesis Block” of this unique and revolutionary monetary system was issued. This historic block is also known as “Block 0”. 16 years on, it can be said that this block marked the beginning of a new era for the world of finance and technology.
The Genesis Block establishes in practice the fundamental rules of the Bitcoin system, such as the difficulty of mining and the reward given to those who find the next block to be added to the Bitcoin Blockchain:
The Genesis Block is unique in that it is the first block of the Bitcoin Blockchain. As such, it has no previous block to refer to, unlike all subsequent blocks, which will rely on the link with their predecessors.
It's also interesting to know that the Genesis Block contains the very first Bitcoin transaction, which awards a reward of 50 BTC. However, these Bitcoins are not spendable, due to a technical limitation intrinsic to the Genesis Block. The 50 BTC are therefore purely symbolic, and highlight the experimental nature of Bitcoin's early days.
Within the Genesis Block, you'll also find an emblematic inscription referring to the front page of the Times on January 3, 2009:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”
With this message inscribed within the Genesis Block, Satoshi Nakamoto was undoubtedly referring to what prompted him to invent the Bitcoin system. That reason is linked to the financial crisis of 2008, which once again highlighted the flaws in the current system, with bank bailouts paid for by taxpayers. Bitcoin can therefore initially be seen as a solution proposed by Satoshi Nakamoto to free people from the debt-based system that is reducing us to modern-day slavery. But in reality, Bitcoin is much more than that: Bitcoin is the great reset of the current system.
Front page of The Times, January 3, 2009:
The Genesis Block reward is associated with the address known as the “Genesis address”, which belongs to Satoshi Nakamoto. The last trace of this anonymous benefactor's life dates back more than 14 years.
In addition to these 50 unspendable BTC, this address has become an object of analysis and fascination in the Bitcoin community. It has carried out 41,826 transactions on the Bitcoin blockchain, received a total of 100,30391049 BTC, or around $9.6 million at the time of writing, and has never sent any funds. Indeed, to this day, the total value of BTC associated with this address is still intact.
Today, the idea of a system like Bitcoin is attracting more and more people around the world. Of course, some are seduced solely by the speculative side of Bitcoin. But Bitcoiners like you and me continue to fight for the liberating side of the Bitcoin revolution.
Back then, Bitcoin wasn't there, and very few people took it seriously. The first known transaction for a good or service, in which 10,000 BTC were exchanged for 2 pizzas, in May 2010, illustrates the lack of commercial interest in this new currency.
Yet, in just a few short years, Bitcoin has overcome numerous crises and evolved into a leading asset. The year 2024 marked a new milestone in Bitcoin's history, with several landmark events reinforcing its status and accelerating its adoption.
Early in 2024, the SEC approved Bitcoin Spot ETFs in America, paving the way for BlackRock and other financial giants to enter the Bitcoin world. At the time of writing, these giants cumulatively hold over 1.1 million BTC on behalf of their clients.
Michael J. Saylor has accelerated his BTC-buying frenzy with MicroStrategy, which leads us to fear the worst for the future, as his strategy could weaken the Bitcoin system, even temporarily, in the event of a crash:
Perhaps most worrying of all is the realization that Michael J. Saylor still doesn't understand Bitcoin, repeating over and over that Bitcoin isn't money, it's just capital. He also tells anyone who will listen that USDT and USDC are the real digital currencies. He encourages U.S. banks to issue stablecoins backed by the U.S. dollar to reinforce the U.S. dollar's hegemony over the world. Finally, he has a whole plan for America to use Bitcoin to strengthen its grip on the world.
In my opinion, this is a great betrayal of the Bitcoin revolution:
2024 also saw Bitcoin's fourth Halving. This is anything but a surprise, as Bitcoin's programmatic monetary policy allowed us to estimate the expected date of this event, which took place at block height 840,000. The reward allocated to miners finding the next block to add has fallen from 6.25 BTC to 3.125 BTC. A real supply shock that met with soaring demand following Donald Trump's campaign promises to see America adopt a strategic Bitcoin reserve.
All indications are that Donald Trump sees Bitcoin as the best possible exit strategy in the face of the coming big bang of the international monetary system:
Bitcoin's omnipresence in the 2024 US presidential campaign has confirmed the trend we've been witnessing since 2021 and the adoption of Bitcoin as legal tender in El Salvador. Bitcoin is taking on a political dimension throughout the world. Even if the Bitcoin system is neutral by nature, Nations are seizing on the theme and don't want to see America outstrip them.
In the years to come, we could see a real battle between America, China and Russia to own as many Bitcoins as possible, but also to dominate the Bitcoin Hash Rate:
The massive accumulation of Bitcoin by these major players, such as Nations, financial institutions and companies, could ultimately pose a risk to the Bitcoin revolution, with the centralization of Bitcoin ownership threatening the total decentralization of the Bitcoin system:
We'll have the chance to follow all this in 2025, as the year promises to be particularly exciting on all levels. The first indications of the trend that the Bitcoin price will follow in the first few weeks will become clear as Donald Trump takes office for a second term on January 20, 2025:
I look forward to following all this with you daily. I'd like to take this opportunity to remind you of my special offer at the start of 2025 so that you can follow on a premium seat the exciting adventure that is the Bitcoin revolution alongside me. Don't delay, as the offer expires in 48 hours:
Have a nice day, and Happy Birthday Bitcoin!
Ready to Do Anything to Defend H-1B Visas, Elon Musk Is Dividing the American Right, Where Curtis Yarvin’s Positions Are in Stark Contrast.
A debate on the society of the future is surfacing as part of this H-1B visa controversy.
A 6-Point Look at American Hegemony on the World’s Financial Markets in 2024.
More than ever, America is the center of global finance.