Excerpt
I talk about the message in Bitcoin’s first block and how it points to the 2008 financial crisis. I share what I think Satoshi Nakamoto was trying to say and why it still matters today. If you want to learn more about where Bitcoin started and why, watch now!
Transcript
The message in the Genesis block, which was The Times, 3 January 2009, Chancellor on Brink of Second bailout for banks, wasn’t actually hidden. It was embedded in plain sight as part of the Coinbase of the first Bitcoin block. We can’t be sure what Satoshi Nakamoto wanted to tell us, as they never explicitly explained the reasoning behind. But due to the timestamp and the reference to the paper The Times of the same day, we know that the first block couldn’t have been created before the 3rd of January 2009. Personally, I and many others too interpret this as a political statement, that there is a need for an alternative system to the traditional one. And Satoshi Nakamoto wrote about this publicly, even in the white paper. And in the context of the 2008 global financial crisis that was caused by the message establishes Bitcoin’s purpose to be a peer-to-peer electronic cash system from the people and for the people. The title of the white paper is also a peer-to-peer electronic cash system.
