How the Big Banks Stole Bitcoin

And Destroyed Satoshi Nakamoto’s Vision





Preface

In 2008, Satoshi Nakamoto released the whitepaper for Bitcoin. The goal was to achieve a system of peer to peer electronic cash for the world; a system for transacting with anyone, anywhere, without interference by a third-party. Adoption was slow, primarily being used for games, to “tip” friends and colleagues on forums, and eventually used for black-market commerce enabled by Tor hidden services.

The system would flourish over the next 10 years, producing unheard of financial returns for all of the holders. The ecosystem would thrive, some of the smartest minds in the world would find ways to use Bitcoin – Blockchain – as a method of bringing verifiable, permissionless truth to the world.

Unfortunately, by censorship, greed, and big business interests, control of the official Bitcoin repository, and therefore control of Bitcoin’s future, would lie in the hands of some devious developers with self-preservation in mind, rather than through consensus by all contributing developers and other participants of the Bitcoin ecosystem.