Bitcoin celebrates 10 years today as the anniversary marks the day the genesis block was officially created on the bitcoin blockchain. BitMex made the frontpage of the Times Newspaper, infamously associated with the genesis block as cited by Satoshi. The tables have turned as the frontpage contained a AD thanking Satoshi for 10 years.
Happy 10th Birthday Bitcoin! pic.twitter.com/DpOPjojsOd
— BitMEX Research (@BitMEXResearch) 2019년 1월 2일
Furthermore, the Times newspaper which has always been associated with the bitcoins inception was also inadvertently roped in as the platform for celebration. With a depressingly headline warning of a slowdown in global growth considering the frontpage 10 years ago forebode a catastrophic banking disaster, the news paper was used now to credit Satoshi for his work in the development of the biggest cryptocurrency to ever exist.
Furthermore, BitMex took to the blockchain directly to thank Satoshi for his contributions as the block hash included in the advertisement has a appreciation message attached. w#\/ ThanksSatoshi /BTC.COM/��mm,���CA4Z_IGQ�~YVM܈H����{�|�|###B#b)#�
Satoshi’s development of Bitcoin can not be overlooked despite the fact he has not returned officially since the early days of deployment. Having huge dreams for the future of the coin, he sought to explain to the early community the value in digital currencies despite them not conforming to the norms laid out across global economies which use fiat and tangible assets.
[I]ndeed there is nobody to act as central bank or federal reserve to adjust the money supply as the population of users grows. That would have required a trusted party to determine the value, because I don’t know a way for software to know the real world value of things. If there was some clever way, or if we wanted to trust someone to actively manage the money supply to peg it to something, the rules could have been programmed for that.
In this sense, it’s more typical of a precious metal. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases. It has the potential for a positive feedback loop; as users increase, the value goes up, which could attract more users to take advantage of the increasing value.
