Reflecting On Satoshi Nakamoto’s Manifesto, The Bitcoin White Paper

The function of this post is to reflect on how far we have actually come considering that then, and how much work stays to be done in order to achieve Nakamotos goals.The Bitcoin that we use today is vastly different from the Bitcoin that Satoshi Nakamoto and his fellow contributors created in the late 2000s and early 2010s. There was a substantial cultural schism within the Bitcoin neighborhood that led to this modification: the famous, and aptly entitled, “Blocksize Wars” approximately five years ago led to this change, with forks such as Bitcoin Cash and later Bitcoin SV being produced by community members who thought in scalability over all else, and the core Bitcoin chain being upheld by members who looked for to protect decentralization and to look at alternative methods such as Layer 2 payment channels to support scalability. Perhaps the most interesting thing to take from Bitcoins development over the previous couple of years is that it has actually happened without a central leader: unlike alternative assets that are more comparable to decentralized software platforms, bitcoin functions purely as money, with crucial “policy” choices being made by a neighborhood. Bitcoin is no longer a software, privy to only developers, coders or those with a highly technical background, and this marked shift should also signify additional non-technical concerns for the Bitcoin neighborhood to deal with over the next decade. More effort needs to be invested not only on promoting bitcoins economics and innovation, however also drawing on differences between bitcoin and other cryptocurrency platforms.

There was a significant cultural schism within the Bitcoin community that led to this change: the well-known, and aptly entitled, “Blocksize Wars” roughly 5 years ago led to this change, with forks such as Bitcoin Cash and later Bitcoin SV being created by community members who thought in scalability over all else, and the core Bitcoin chain being maintained by members who looked for to preserve decentralization and to look at alternative techniques such as Layer 2 payment channels to support scalability. More effort requires to be invested not only on promoting bitcoins economics and technology, but likewise drawing on distinctions between bitcoin and other cryptocurrency platforms. While believing that bitcoin is the most sound digital possession in terms of economics/construction, and getting into arguments about stated belief is okay, and should even be encouraged, commemorating when an alternative platform is threatened with regulatory action or censorship goes versus what Bitcoin is essentially all about.