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Satoshi Nakamoto’s Historic Bitcoin Statement Marks 14 Years

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Mon, 17/06/2024 - 14:55
Satoshi Nakamoto’s Historic Bitcoin Statement Marks 14 Years
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Today, June 17, marks the 14th anniversary of one of the most pivotal statements in the history of cryptocurrency, one made by Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

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Exactly 14 years ago, Satoshi articulated a key aspect of Bitcoin’s nature that has since become a cornerstone of its identity and functionality.

In a tweet, renowned Bitcoin historian @Pete_rizzo on X highlighted Satoshi's historic statement about Bitcoin.

In a statement that dates back to June 17, 2010, and would shape the future of digital currency, Satoshi Nakamoto declared, "The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime."

This statement underscored the immutability that would define Bitcoin, setting it apart from other digital and traditional currencies.

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Version 0.1 of Bitcoin was released in January 2009, marking the birth of the first decentralized cryptocurrency. This initial version laid the groundwork for the peer-to-peer electronic cash system that would revolutionize finance and technology.

By stating that the core design was unchangeable, Satoshi ensured that Bitcoin would remain true to its original vision. Bitcoin was designed with a fixed maximum supply of 21 million coins, hard-coded into its protocol by Satoshi Nakamoto.

The current Bitcoin Core is the continuation of the original client Satoshi worked on, now maintained and developed by a group of contributors from around the world.

At the close of May, a new release candidate of Bitcoin Core, v27.1rc1, was made available for testing following the v27.0 major release.

Bitcoin, the first and largest cryptocurrency, is currently worth $1.28 trillion by market capitalization, accounting for approximately half of the $2.4 trillion global market cap. Presently, around 19.71 million BTC are in circulation, accounting for 94% of the currency's maximum supply of 21 million.

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