Bitcoin's Whitepaper Turns 15 on Halloween

Bitcoin’s Whitepaper was published on October 31, 2008

Let's first define whitepaper. A white paper is a document that explains how a project works and its purpose. The whitepaper for a cryptocurrency is a guide on its features, technology, and goals. The whitepaper is designed to introduce a project to new audiences of potential users and investors. This is like the User Manual included with a brand-new appliance, which very few people read.

White papers in cryptocurrencies are written to generate interest, and in many cases to convince investors to invest some money in the project. Whitepapers have been around for over 100 years, this one receives much attention. The color "white", indicates the document's availability to the public.

The most talked-about White paper was released 15 years ago on Halloween. It was written by Satoshi Nakamoto, this may be a person or group, we will refer to him as Satoshi. The Bitcoin Whitepaper was just 9 pages long, and the purpose of Bitcoin was to develop a computer technology that would allow multiple parties to make payments directly online without having to involve a financial institution like a bank. It was first introduced as a peer-to-peer cash system. Bitcoin is cash in the digital age. It lives on the Internet through computer technology. Satoshi created Bitcoin to solve the Global Financial Crisis the world was facing.

With the publication of the White Paper, the world learned about a new technology that would give us a monetary system that was decentralized and incorruptible, with a fixed amount. The goal was to return us to sound principles of money, which have been missing for a long time. Bitcoin is a technology with many facets that are constantly being explored and expanded.  Contact us at keybit11.com if you want to learn more about Bitcoin.