13 Years Ago Today, Satoshi Nakamoto Published the First Forum Post Introducing Bitcoin.

12 Feb 2022, 08:00

13 Years Ago Today, Satoshi Nakamoto Published the First Forum Post Introducing Bitcoin 13 years ago today, the creator of the Bitcoin network, Satoshi Nakamoto published the inventor’s first forum post on the P2P Foundation website. The forum post called “Bitcoin open source implementation of P2P currency” introduced the e-cash system to the members of the advocacy and research forum focused on peer-to-peer dynamics in society. The First of 3 February 2009 Forum Posts Introducing BitcoinThere was three occasions in February 2009 when Satoshi Nakamoto introduced the inventor’s Bitcoin white paper and open source codebase to the P2P Foundation forum members. The occasion on February 11, 2009, was the first time the creator of Bitcoin publicly announced the project using the P2P Foundation forum. Prior to these instances during the month of February, Nakamoto leveraged the email system tethered to the cryptography mailing list hosted on metzdowd.com.The introductory forum post is quite fascinating, and the inventor also leaves a link to the software’s first version on the forum as well. “I’ve developed a new open source P2P e-cash system called Bitcoin,” Nakamoto wrote 13 years ago today. “It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper,” the creator added.Nakamoto is extremely descriptive in the first forum post, and Bitcoin’s inventor explains the issue with conventional currencies. “The root problem with conventional currency is all the trust that’s required to make it work,” Nakamoto wrote that day. “The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”Bitcoin’s inventor further stressed: We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.