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Crypto The Bitcoin Bible

Satoshi Nakamoto's Cryptocurrency Creation Story

by Jessica Darmoni
7 months ago


I sat in the audience a few weeks ago as Walter Isaacson, former Chairman of Cable News network (CNN), gave the keynote address at a Futures Industry Association conference. He talked about how technology was created to meet the needs of humans, that all artists sign their work and that innovation comes from the intersection of humanities and science (FIA Boca 2018). It was only after reading Satoshi Nakamoto's initial introduction of bitcoin that I understood Isaacon could have been talking about blockchain and bitcoin technology.

Cryptocurrencies were created to address "inherent weaknesses" in our current monetary system, which is a trust based or third party intermediary model. In his paper, Nakamoto introduces a cryptographic proof of trust. He also discusses how each owner transfers the coin to the next by digitally signing it and even calls electronic coins a "chain of digital signatures."  

We invite you to take a step back and read (what one fund manager calls) the "cryptocurrency creation story," the initial whitepaper that legendary Satoshi Nakamoto wrote on the introduction of bitcoin. It provides a foundation and overall perspective, in which to learn more about cryptocurrencies, a technology rooted in human needs.

 

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