The early days of Bitcoin were all about exploration and discovery. After an anonymous developer known as Satoshi Nakamoto published his now famous whitepaper, “Bitcoin: A Peer-to-Peer Electronic Cash System,” a small but passionate group of cypherpunks, cryptographers, programmers, and libertarians began to realize the revolutionary potential of this new digital currency.
Bit by bit, contributors like Hal Finney, Martti Malmi, and Gavin Andresen joined the effort, offering their time and skills to help the project grow. Although development progressed slowly, Bitcoin’s name began to spread. A key moment came when WikiLeaks announced it would accept Bitcoin donations as a workaround to legacy financial censorship, but rather than enthusiasm, Satoshi responded with a warning:
“No, don’t ‘bring it on.’ The project needs to grow gradually so the software can be strengthened along the way… the heat you would bring would likely destroy us at this stage.”
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I love this article.
Bitcoin situation is much like a normal guy or couple working a 9-5 being thrust into sudden wealth through a lottery win, only to see their life or family damaged by their new fortune.
According to the words of satoshi- BTC wasn’t yet prepared for its success. The software wasn’t strengthened enough to endure the burden of global attention.
Global attention exposed this.
The heat destroyed Bitcoin.
Satoshi knew this. Satoshi was right.
This is absolutely superb, Cain. Talk about an article that’s packed full of content!
What you’ve done here is demonstrate a seamless connection between eCash and OG Bitcoin.
Brilliantly written – a must-read!