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Bitcoin (abbreviation: BTC; sign: ₿) is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 by Satoshi Nakamoto, an unknown entity (person or persons). [5] Use of bitcoin as a currency began in 2009, [6] with the release of its open-source implementation.
Prior to the release of bitcoin, there were a number of digital cash technologies, starting with the issuer-based ecash protocols of David Chaum and Stefan Brands. [3] [4] [5] The idea that solutions to computational puzzles could have some value was first proposed by cryptographers Cynthia Dwork and Moni Naor in 1992.
Bitcoin’s schedule is 10.5 million coins created in the first four years, 5.25 million the next four years, 2.625 million the next four years, and so on, never to exceed a total of 21 million.
Satoshi Nakamoto message embedded in the coinbase of the first block. Nakamoto said that the work of writing bitcoin's code began in the second quarter of 2007. [9] On 18 August 2008, he or a colleague registered the domain name bitcoin.org, [10] and created a web site at that address.
Who invented Bitcoin? That question has become a captivating mystery for the digital age along the lines of whatever happened to D.B. Cooper or who was Deep Throat in the Watergate scandal.
The true identity of the cryptocurrency's founder, "Satoshi Nakamoto," has possibly been revealed in the HBO documentary 'Money Electric: The Bitcoin Mystery'
O'Hagan was with Wright during the time of his various media interviews. O'Hagan also interviews Wright's wife, colleagues and many of the other people involved in his claims. [44] [45] [46] Wright told Finder in 2019 that bitcoin's creation was a group effort, that he drove the project, and that Dave Kleiman and Hal Finney were involved. [47]
The messages, which surfaced for the first time last week in a court trial, are a new opportunity to read Satoshi in his own words.