Unknown Facts About Satoshi Nakamoto's Bitcoin White Paper

Crypto Community Celebrates 14 Years Of Bitcoin White Paper

About 14 years ago, Satoshi Nakamoto introduced Bitcoin to the world by sharing a highly acclaimed white paper which was introduced on metzdowd.com.

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Satoshi shared the inventor's vision stating “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party”.

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Satoshi also mentioned, “The proof-of-work for new coin generation also powers the network to prevent double-spending”.

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It is widely believed that Satoshi named Bitcoin much later as the word Bitcoin appears only twice throughout.

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Satoshi wrote the code for Bitcoin before writing the whitepaper as he had been working on Bitcoin for two years before.

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Satoshi saw Bitcoin as an alternative to the “mint-based model” used in traditional digital payment systems.

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According to the whitepaper, “CPU power” is used to generate Bitcoin blocks.

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