Bitcoin statement to redefine money was well reference in its creation.
Money as we know it has always been under the custody of central powers. A tradition which can be dated back from the time the kings of the old devise a means to garner unquestionable authority and create wealth by enforcing laws and trading patterns that automatically gives the earlier coins the ability to be exchanged for goods and services.
From coins to tickets to paper money, many transformations had define how a legal tender is expressed. Although these methods saw huge success over the barter trade system, there are many deficiencies that questioned their longevity and the reason why they took many forms.
One of it is the ability to be produced or printed endlessly without an unwavering strict governing law seen especially with the current fiat system.
The most obvious attestation to this occurred during the financial crisis of 2008 where the “too big to fail” banks were bailed out by the government.
This event may have been swallowed and digested by many but an exceptional visionary (Satoshi) refused to comply with this rotten system and thought out a new future by creating a remarkable framework that is meant to stripe-off any central authority and aimlessly hands over the instrument of value to the common people with a defined unchangeable amount.
Bitcoin, as named by its creator, is this new form of money taking a digital form, powered by protocols and techniques such as the internet and the blockchain — the perfect agents that turned the dream into a reality.
To make this game-changing intention more obvious, Satoshi inscribed a statement that clearly defined the mission of bitcoin right inside the Genesis block which at the same time expose the putrid existing system.
Looking straight into the hex data of the Genesis block, Satoshi embeds some text which was written backward, with its forward pattern stating.
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
You can view this directly from the original Bitcoin code on SourceForge for a better feel of it.
There are many rumors surrounding this event suggesting that Satoshi intentionally backdated the timestamp of the genesis block to correlate with the date the media outlet “Times” published the news as a declaration of a new world.
Here is an image showing the text in its raw format.
Many questions had been asked as to why the text took many years to be discovered despite the abnormal hex zero number (two leading zero were added) pointing for more curiosity and the low encryption level Satoshi chose to use. However, the obvious answer is that nobody could have suggested such to exist.
Leaving no space for question or argument Satoshi statement and the choice of date which is also regarded as the Bitcoin anniversary date clearly states the need for the corrupt centralized systems to be replaced, and may have also contributed to why the period between block 0 and block 1 took six good days despite the block creation time of 10 minutes intervals.
In any perspective an individual may have chosen to look at this remarkable event, the decrypted text in the Bitcoin Genesis block hold deep significant meaning that is meant to shake the World.
Do you think bitcoin mission as devised by its owner could be massively accomplished? I want to hear your opinion in the comment box below.
Stay in touch for the next part of this incredible series.
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