A Brief History of Bitcoin
2008.08.18 — The domain name bitcoin.org was registered.
2008.10.31 — The Bitcoin White Paper, authored by Dr Craig Wright, under the pseudonym of Satoshi Nakamoto, & titled ‘Bitcoin: A peer-to-peer electronic cash system’, was released to a cryptography mailing list. The Bitcoin White Paper is significant because it expressed for the first time in history, how to commoditise digital data, using five principle constructs,:
- One, a fixed supply, so no one controls it & it is therefore common to everyone,
- Two, a locked protocol, so no one can change it & it is therefore common to everyone,
- Three, infinite capacity, so limitations & restrictions cannot be manufactured & is therefore common to everyone,
- Four, economic competition, so the network is open to everyone & therefore common to all, &
- Five, a chain of digital signatures for common accountability, so blame cannot be reassigned, & everyone is individually, equally responsible for the data they upload to the network.
It’s these five principle constructs that enable the Bitcoin protocol to be classified as a digital commodity. https://craigwright.net/bitcoin-white-paper.pdf
2009.01.03 — After providing a “reasonable” amount of time for anyone, & everyone, to start the network themselves, Dr Craig Wright started the Bitcoin network himself, under the pseudonym Satoshi Nakamoto, when he mined the starting block to the network known as the Genesis block at height zero. Providing a reasonable amount of time gave the starting point of the network commonality, in order for the network to be classified as a commodity. Embedded in the coinbase data of the Genesis block was the text: “The Times 03/Jan/2009. Chancellor on brink of second bailout for banks.” The use of a pseudonym enabled the network to grow organically, without a central point of authority, control, or influence, while proof of work diluted the central starting point over time, & provided commonality to the growth of the network, giving even more economic credibility to the network being classified as a commodity. https://whatsonchain.com/block-height/0
2009.01.09 — Dr Craig Wright creates the first Bitcoin logo depicting a gold coin with the letters BC inscribed on it. https://commons.wikimedia.org/wiki/File:Bitcoin_old.png
2009.01.10 — Hal Finny, now famously, posted out on Twitter, “Running bitcoin”. https://www.google.com/search?q=running+Bitcoin
2009.01.12 — Hal Finny receives the first ever Bitcoin transaction of 10 Bitcoin’s from Dr Craig Wright at block height 181. For the purpose of the ledger, ₿ 40 Bitcoin were sent, ₿ 10 Bitcoin were kept, & ₿ 30 returned, showing a balance of ₿ 10 Bitcoin received by Hal. https://whatsonchain.com/tx/a16f3ce4dd5deb92d98ef5cf8afeaf0775ebca408f708b2146c4fb42b41e14be
2010.05.22 — The first commercial Bitcoin transaction took place when Laszlo Hanyecz paid Jeremy Sturdivant ₿ 10,000 Bitcoin for two Papa John’s pizzas. This day is now known as Bitcoin Pizza Day, & is significant because it gave Bitcoin its first real world commercial value. Prior to Bitcoin Pizza Day, the price of Bitcoin was calculated by the amount of energy each Bitcoin cost to extract. This transaction took place at block height 57043. https://en.bitcoin.it/wiki/Laszlo_Hanyecz
2011.06.09 — The Tulip Trust was created by David Kleiman, at the request of Dr Craig Wright, who transferred ₿ 1,100,111 Bitcoin for this purpose. The Tulip Trust represented 5.2% of the total supply of Bitcoin, & approximately 42% of the circulating supply at that time. The intended use of the Tulip Trust was to prove that Dr Craig Wright was the creator of Bitcoin, had possession of the “Satoshi Coin’s”, & to act as Bitcoin’s insurance policy. As Bitcoin’s insurance policy, the Tulip Trust was created to provide enough economic power to intentionally wipe out any securitised, economically worthless, alternative protocol forks, (such as BTC, BCH & many others) that might have been created prior to its planned return to Dr Wright on 2020.01.01. https://www.documentcloud.org/documents/2644014-Tulip-Trust-Redacted
2012.09.15 — Both Gizmodo & Wired magazine publish articles evidencing that Dr Craig Wright is the author of the Bitcoin White Paper, & the man behind the pseudonym Satoshi Nakamoto. https://gizmodo.com/heres-all-the-evidence-that-craig-wright-invented-bitco-1747059371
2017.08.01 — A group of developers called Blockstream announced their plans to fundamentally change the protocol design of Bitcoin (BTC) by segregating the chain of digital signatures from the transaction data. They called this change “SegWit”. “Seg”, being an abbreviation for the word segregated, that removed the digital signature from the transaction data, & “Wit”, an abbreviation for the word witness, being the digital signature that is so fundamental for legal & economic purposes in a transaction. https://en.wikipedia.org/wiki/SegWit
The first sentence, in Section 2 of the Bitcoin White Paper, defines Bitcoin “…as a chain of digital signatures.”
A chain of digital signatures is one of the five, fundamental, principle constructs that makes Bitcoin a commodity, as it ensures common/equal accountability to all users & developers of the network. SegWit, turned Bitcoin (BTC), from a digital commodity into a digital security offering, & removed all economic value from its network. The Bitcoin chain was split on 1st August 2017. The SegWit protocol, created by Blockstream, that kept the ticker symbol BTC, was implemented on 24th August 2017. The original Bitcoin protocol & chain of digital signatures continued under a new name & ticker symbol, referred to as Bitcoin Cash & given the ticker BCH.
2018.11.15 — The original Bitcoin protocol & chain of digital signatures was given a new name and ticker symbol, & was referred to as Bitcoin Satoshi Vision (BSV). This happened because a group of developers implemented a protocol change on Bitcoin Cash (BCH). This protocol change deleted parts of the transaction data, meaning it could no longer be used as a medium of exchange, & fundamentally changed the protocol from a commodity network into a centrally controlled, securitised network in the same way that Blockstream securitised BTC by implementing SegWit. https://coingeek.com/crypto-crime-cartel-how-roger-ver-led-bch-tried-to-corrupt-bitcoin/
2020.01.14 — Confirmation that the keys to the Tulip Trust were returned to Dr Craig Wright via bonded courier. https://asiatimes.com/2020/01/craig-wright-satoshi-keys-have-been-delivered/
2021.06.28 — London’s High Court grants Dr Craig Wright, via default judgment, copyright ownership of the Bitcoin White Paper as the defendant, Cøbra, opted not to defend the claim. https://coingeek.com/craig-wright-awarded-default-judgment-in-first-bitcoin-white-paper-lawsuit/
2021.12.06 — A Florida jury found that Dr Craig Wright did not owe half of 1.1 million bitcoins to the family of David Kleiman, in a court case that saw Ira Kleiman, as the personal representative of the Estate of Dave Kleiman, the Plaintiff, v. Craig Wright, the Defendant. https://www.theguardian.com/technology/2021/dec/07/australian-man-craig-wright-wins-us-court-battle-for-bitcoin-fortune-worth-billions
2022.08.01 — U.K High Court Judge, Martin Chamberlain, ruled that comments made by podcaster Peter McCormack, calling Dr Craig Wright “a liar” and “a fraud” in 2019, caused “serious harm” to Wright’s reputation. https://coingeek.com/another-victory-for-satoshi-nakamoto-peter-mccormack-to-pay-craig-wright-another-90k-in-costs-appeal-refused/
2022.09.12 — “On September 12, 2022, a seven-day trial will begin in Oslo, Norway, between Craig Wright and the pseudonymous Bitcoiner, hodlonaut.” https://bitcoinmagazine.com/culture/timeline-of-hodlonaut-craig-wright-case
The original protocol & genuine Bitcoin is the only way to commoditise digital data, which means there will be only one digital commodity. This protocol, & the only chain of signatures in existence today that leads all the way back to the Bitcoin genesis block, has the ticker symbol (BSV).
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