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Where Did Bitcoin Come From? – The True Story

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Episode 2 of the Bitcoin story: https://youtu.be/iYn6EQDqTkU

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Sources:

https://www.investopedia.com/tech/three-people-who-were-supposedly-bitcoin-founder-satoshi-nakamoto/

https://www.coindesk.com/bitcoin-financial-crisis

https://spectrum.ieee.org/computing/software/bitcoin-the-cryptoanarchists-answer-to-cash

https://www.pcmag.com/encyclopedia/term/first-virtual
http://cryptome.org/jya/digicrash.htm

https://bitcoinmagazine.com/articles/quick-history-cryptocurrencies-bbtc-bitcoin-1397682630

https://velawoodlaw.com/bitcoins-solution-to-the-double-spend-problem/

https://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm

https://www.thebalance.com/who-sets-bitcoin-s-price-391278

https://money.usnews.com/investing/articles/the-history-of-bitcoin

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6 Comments

  1. The "price" of Bitcoin means Bitcoin has no inherent value of it's own. If it must be pegged to something else in order to be assigned value, that something else is what actually has value. In this instance, dollars, yuan, etc. are the assigned value of Bitcoin, and in turn Bitcoin is vulnerable to the confidence people have in state backed fiat currencies. If all state backed and or fiat currency dissapeared tomorrow, what would a Bitcoin buy you then? Next week? Next year?

    Let's put it this way; can 9 billion people each use bitcoin to buy a loaf of bread? No. Unless the inherent value of bitcoin (or any cryptocurrency) can be pegged to a tangible need, Bitcoin will never be functional currency, just a representation of something that is. That, or everyone who payed $30k for a coin, will soon find $30k is a loaf of bread… The fact that Bitcoin is not fiat or on a standard, means that it lacks the stability needed to be widely adopted as means of transacting scarce tangible goods (food, shelter, etc.).

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