Satoshi's lesson

[RocketSingh]

Good write up. It would be interesting to see which block gets the timestamp of 2019-01-03 18:15:05. Ten years is no longer way but the development, changes, acceptance it has undergone is literally sky high. Satoshi and the fellow helpers like Hal, sirius has undoubtedly made many people millionaires and billionaires, has challenged government organizations, brought up the future of money and what not. If satoshi alone was promoting this right back in the early days of the network, it would not have reached such heights. Apart from theymos, most of us came here only after what came to be known as cryptocurrency. Satoshi was not only a good coder, he was probably a good economist too who thought upon various economic aspects of making bitcoin future of money.

Usually when we do
Of course you understand that the intention is not to belittle anything. Even then, if you feel this (as a programmer yourself probably), it'd be helpful if you give your own perspective on the difficulty level of the code. It'd be good knowledge for learners like myself.

I am not a C++ coder, but based on the knowledge gained from my university it is easier to understand the code if you have have read some basic level of programming and know how cryptography works. The flow could be easier to you only if you where the cryptography gets applied in the code. Unless it could be a difficult time for beginners and newbies reading the code. For people like us, we can understand better by compiling the code. You can also follow the codebase present in git and read the issues, PR which are raised by devs for easy understanding of how the flow works.


If people are not part of any signature campaigns, here are some signatures designed by me for celebrating the 10th Birthday.  

Full Member

《SATOSHI NAKAMOTO 《 ▬▬▬▬▬   BITCOIN   ▬▬▬▬▬ 》 JANUARY 3,2009 》
A Peer-to-Peer Electronic Cash System
Whitepaper  《  Coinmarketcap  ●  Github   》  Forum

Code:

[center][url=https://bitcoin.org/en/][b]《[/b][color=#EBB523][size=9pt][font=arial black]SATOSHI NAKAMOTO[/font][/size][/color] [color=#f69212]《[/color] [font=arial black] [color=#f69212]▬▬▬▬▬   [/color][color=#f69212]BITCOIN   [/color][color=#f69212]▬▬▬▬▬ [/color][/font][color=#f69212]》[/color][font=arial black][color=#EBB523] JANUARY 3,2009 [/color][/font][b]》[/b]
[font=arial black][color=#EB9423]A Peer-to-Peer[/color][color=#f69212] Electronic Cash System[/color][/font][/url]
[font=arial][b][url=https://bitcoin.org/bitcoin.pdf]Whitepaper[/url]  [color=#f69212]《[/color]  [url=https://coinmarketcap.com/currencies/bitcoin/]Coinmarketcap[/url]  ●  [url=https://github.com/bitcoin/]Github[/url][color=#f69212]   》[/color]  [url=https://bitcointalk.org/]Forum[/url][/b][/font][/center]

Sr Member

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PEER TO PEER ELECTRONIC CASH SYSTEM

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GET YOUR WALLET

Code:

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Hero / Legendary Member

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B I T C O I N S  A  T  O  S  H  I     N  A  K  A  M  O  T  O

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Bitcoin Forum     CoinMarketCap       Github     Whitepaper

|

GET YOUR WALLET

Code:

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Link to CoinMarketCap is probably not a good idea. There are many good alternatives like https://coincap.io or https://coinranking.com

[1714093810]

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[Harlot]

~snip~

~snip~

They said Bitcoin was created to fight the 2008 crisis. If indeed true then it is on the way of solving all these along with all the Altcoins.

If you have read Bitcoin's whitepaper you will see no mention about it being created because of the 2008 financial crisis, my guesses are someone just have assumed (and it became popular) their is a connection between the timing of both Bitcoin's creation and the financial crisis last 10 years ago. It was created as a P2P payment solution without any 3rd party involvement (financial institutions). Nevertheless the 2008 financial crisis might just be a motivating factor for Bitcoin to start.

[aoluain]

-snip-

Satoshi is not awesome because he was watching the crypto world and had a brilliant idea. He's awesome because upon having this idea, he carried it out. You know what I would've done if this idea had come to me? I probably would've mentioned it to a few people, maybe written some very basic code if I was feeling especially ambitious. You know what Satoshi did? He spent 2+ years contemplating every possible aspect of the system he could think of, and wrote code that worked brilliantly in the real world. Satoshi's code was good, but anyone who had read a good C++ book could've written similarly-good code. Anyone who had taken an intro crypto course or read a few books on the subject would understand Satoshi's usage of crypto primitives. The task of creating Bitcoin required a small flash of brilliance, moderate skill, and an unbelievably huge amount of dedication to thinking about, coding, and testing the system until it worked exactly as envisioned.

-snip-.

Thank you theymos, thank you for this thread and your opening post!
I love the chapter above especially the "small flash of brilliance" its
just how most great inventions go i suspect, like the post-it note, not
complicated, everything already in existence but they need to be
combined into a single product.

I really hope Satoshi is lurking on the forum and can realise the
gratitude we all owe the Satoshi entity.

A simple statement from my country >

"A lot done, more to do"

[DaCryptoRaccoon]

~snip~

~snip~

They said Bitcoin was created to fight the 2008 crisis. If indeed true then it is on the way of solving all these along with all the Altcoins.

If you have read Bitcoin's whitepaper you will see no mention about it being created because of the 2008 financial crisis, my guesses are someone just have assumed (and it became popular) their is a connection between the timing of both Bitcoin's creation and the financial crisis last 10 years ago. It was created as a P2P payment solution without any 3rd party involvement (financial institutions). Nevertheless the 2008 financial crisis might just be a motivating factor for Bitcoin to start.

It might not have been in the whitepaper but it 100% made it's way into the blockchain.

Code:

00000000   01 00 00 00 00 00 00 00  00 00 00 00 00 00 00 00   ................
00000010   00 00 00 00 00 00 00 00  00 00 00 00 00 00 00 00   ................
00000020   00 00 00 00 3B A3 ED FD  7A 7B 12 B2 7A C7 2C 3E   ....;£íýz{.²zÇ,>
00000030   67 76 8F 61 7F C8 1B C3  88 8A 51 32 3A 9F B8 AA   gv.a.È.ÈŠQ2:Ÿ¸ª
00000040   4B 1E 5E 4A 29 AB 5F 49  FF FF 00 1D 1D AC 2B 7C   K.^J)«_Iÿÿ...¬+|
00000050   01 01 00 00 00 01 00 00  00 00 00 00 00 00 00 00   ................
00000060   00 00 00 00 00 00 00 00  00 00 00 00 00 00 00 00   ................
00000070   00 00 00 00 00 00 FF FF  FF FF 4D 04 FF FF 00 1D   ......ÿÿÿÿM.ÿÿ..
00000080   01 04 45 54 68 65 20 54  69 6D 65 73 20 30 33 2F   ..EThe Times 03/
00000090   4A 61 6E 2F 32 30 30 39  20 43 68 61 6E 63 65 6C   Jan/2009 Chancel
000000A0   6C 6F 72 20 6F 6E 20 62  72 69 6E 6B 20 6F 66 20   lor on brink of 
000000B0   73 65 63 6F 6E 64 20 62  61 69 6C 6F 75 74 20 66   second bailout f
000000C0   6F 72 20 62 61 6E 6B 73  FF FF FF FF 01 00 F2 05   or banksÿÿÿÿ..ò.
000000D0   2A 01 00 00 00 43 41 04  67 8A FD B0 FE 55 48 27   *....CA.gŠý°þUH'
000000E0   19 67 F1 A6 71 30 B7 10  5C D6 A8 28 E0 39 09 A6   .gñ¦q0·.\Ö¨(à9.¦
000000F0   79 62 E0 EA 1F 61 DE B6  49 F6 BC 3F 4C EF 38 C4   ybàê.aÞ¶Iö¼?Lï8Ä
00000100   F3 55 04 E5 1E C1 12 DE  5C 38 4D F7 BA 0B 8D 57   óU.å.Á.Þ\8M÷º..W
00000110   8A 4C 70 2B 6B F1 1D 5F  AC 00 00 00 00            ŠLp+kñ._¬....

https://sourceforge.net/p/bitcoin/code/133/tree/trunk/main.cpp#l1643

   

Code:

    // Genesis block
        const char* pszTimestamp = "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks";

I think now as we are in a time of heightened world tension and financial turmoil it's fitting to see bitcoin still here standing strong,   price and markets don't determine bitcoins success. a point highlighted by theymos regarding hard work, determination and a desire to create change are the key factors behind bitcoin.

[cryptjh]

This 10 years anniversary can turn out to be an epic one. Right now the financial market seems to be ready to melt down once again, just like it did 10 years ago.
Bitcoin now have a chance to prove itself as a reliable store of wealth and as a secure payment system no failing empires can control.
The next 10 years Bitcoin can go from something most people just talks about, to something people going to use in their daily life.

[LTU_btc]

Thank you theymos for this post. Maybe Satoshi aren't Einstein, but for me it's unbeleavable what one very smart guy without huge team of well paid developpers can do. No one else didn't even tried to make something similar as he did. And we can see how Satoshi believed in Bitcoin - he spent over 2 years of work to create what we have today. There was no guarantees that Bitcoin will be supported and accepted by other people. Maybe Bitcoin isn't perfect, but considering that only one person worked in creation of Bitcoin, it's almost perfect. Satoshi considered so many aspects which wouldn't came to head of many developpers and these few downsides which Bitcoin have aren't that significant in general.
In first years Bitcoin was used by only small number of geeks. Now, after just 10 years it's used by millions in all corners of world and big part of earth's population at least heard name of Bitcoin. So many things happened in these 10 years, but there are still huge, maybe unlimited potential that Bitcoin have.
Happy birthday, Bitcoin!

[rhomelmabini]

Great point of view theymos.

I consider him as genius, great things after it piles up of what he did, he may not be known but at least he give us something we will never forget in this century. If he's known I think he'll get Nobel Prize in many aspects or a new Nobel Prize to be known in human history.

I guess we Jr. Members shouldn't be left out with Satoshis signature, I come up with it base on Heisenberg_Hunter sig codes.

SATOSHI NAKAMOTO 《 ▬▬▬▬▬  BITCOIN  ▬▬▬▬▬  》 JANUARY 3,2009 》
https://bitcoin.org

Code:

[center]SATOSHI NAKAMOTO《 ▬▬▬▬▬  BITCOIN  ▬▬▬▬▬  》 JANUARY 3,2009 》
https://bitcoin.org/en[/center]]

[yefi]

Satoshi not a genius? Yeah, whatever. Things always seem simpler in retrospect including Relativity. Try working in the opposite direction of time - connections are not so "obvious" as they should be.

[pooya87]

I am not a C++ coder, but based on the knowledge gained from my university it is easier to understand the code if you have have read some basic level of programming and know how cryptography works.

i don't know why people think C++ as soon as it comes to understanding bitcoin. you really don't have to know C++, any other programming language works. obviously because there are a lot of libraries that are "translation" of bitcoin core which you can read in your own "language" like python, but also if you know any programming language you are familiar with programming and you would still understand C++ too to some extent.
on top of all that bitcoin has a very good documentation in form of a wiki (bitcoin.it/wiki) developers reference (https://bitcoin.org/en/developer-reference) and the BIPs which means you sometimes don't even have to look at code to understand how certain areas of bitcoin work.

...speaking from experience (i only know c#)

[tranthidung]

I also known another guy who spent considerable time to learn about crypto and achieved significant sweety results months later the day he/ she joined the crypto world.
iasenko (a Self-made Senior Member for now), and his/ her inspring post

You know what Satoshi did? He spent 2+ years contemplating every possible aspect of the system he could think of, and wrote code that worked brilliantly in the real world.

The sentence insprires me a lot.
I am almost a newbie in the crypto world, based on my knowledge, skills, and experience I have had till now; but I will definitely improve myself to survive in the crypto world, and to contribute some days later when I have enough experience to do it.

Satoshi's lesson is that you don't need to be the next Einstein in order to change the world.
< ...>
This is what makes Satoshi and his work my greatest inspiration.

Another inspriring case study is hal Finney and his last topic in the forum,    
Bitcoin and me (Hal Finney)

To celebrate the 10th birthday of bitcoin, I think that the most meaningful way is spending a couple of minutes to remember who dedicated their time to develop bitcoin and bring cryptography into real life usages; and reading their topics again.

[_Miracle]

I wish everyone who has questions about bitcoin would start here with your post Theymos (Thank you)
and then read the whitepaper

[OgNasty]

Satoshi's lesson is that you don't need to be the next Einstein in order to change the world. Nor do you need to have much money, or influence with the world's "movers & shakers". You just need to put in the effort.

A great takeaway.  It would be interesting to know the details of all the things satoshi had to overcome.  Surely people were wondering what was taking up so much time and if the outcome would be worth the effort.  I'm sure there was lots of discouragement.

[Heisenberg_Hunter]

i don't know why people think C++ as soon as it comes to understanding bitcoin. you really don't have to know C++, any other programming language works. obviously because there are a lot of libraries that are "translation" of bitcoin core which you can read in your own "language" like python, but also if you know any programming language you are familiar with programming and you would still understand C++ too to some extent.

Programming on the whole are inter-dependent and inter-connected to each other. Understanding one is equivalent to getting a grasp on almost all the programming languages and it's flows. Also, programming alone won't help one in learning about bitcoin or any other cryptocurrency. They need to have knowledge in cryptography to understand how algorithm functions, how keys are created, how the hashing target is achieved etc. If neither one of them are known, we should better start learning everything from the beginning.

on top of all that bitcoin has a very good documentation in form of a wiki (bitcoin.it/wiki) developers reference (https://bitcoin.org/en/developer-reference) and the BIPs which means you sometimes don't even have to look at code to understand how certain areas of bitcoin work.

True. As you have said we are not in the early stages of bitcoin to read the code and understand everything. Almost everything has been detailed in the developer docs and there are many books/references for one to have a better understanding on the network without reading the code. Summing it up, If one needs to become a bitcoin developer, he needs to read the code else documentation is enough.

[DooMAD]

If you have read Bitcoin's whitepaper you will see no mention about it being created because of the 2008 financial crisis, my guesses are someone just have assumed (and it became popular) their is a connection between the timing of both Bitcoin's creation and the financial crisis last 10 years ago. It was created as a P2P payment solution without any 3rd party involvement (financial institutions). Nevertheless the 2008 financial crisis might just be a motivating factor for Bitcoin to start.

It might not have been in the whitepaper but it 100% made it's way into the blockchain.

True enough about the genesis block, but I'll have to stay on the fence with this one.  Clearly some of the work was already done before that particular headline was written.  As theymos alluded to, Satoshi was working on the idea in 2007 (i.e. before it actually became the 2008 crisis).  If the text embedded in that first block had contained a headline from 2007, then we could definitely point to that beyond all doubt as the true source of inspiration.  But it didn't.  It appears as though Satoshi deliberately launched the network upon reading that article, so it does support the notion that the financial crisis was undeniably a factor in their motivations.  But we can't know for certain if the article was merely something that reinforced Satoshi's general outlook on the problems with modern economic practices, or if it was specifically the global financial crisis that prompted their decision to create Bitcoin. 

It may have been that Satoshi was sufficiently economically astute to see the shit en route to the fan before it actually hit.  Or it may have been that Satoshi thought the banking system had some flaws in general and referenced that article in a "see, this is the kind of thing I'm talking about" kind of way.  I'd like to believe it was the former, but sadly, we may never find out for sure.

[crwth]

Satoshi's lesson is that you don't need to be the next Einstein in order to change the world. Nor do you need to have much money, or influence with the world's "movers & shakers". You just need to put in the effort.

A great takeaway.  It would be interesting to know the details of all the things satoshi had to overcome.  Surely people were wondering what was taking up so much time and if the outcome would be worth the effort.  I'm sure there was lots of discouragement.

Understanding the root problem in our society, having to trust banks and other corporate institutions lead to this. I think it's also smart to have him stay anonymous knowing that if he'd identified, it could develop an outrage, currently having created Bitcoin and people acknowledging it only when it has already a significant price, especially in the media today, he could be branded by anything and we know that the news is fast. That prevented himself to have a conflict of interest which is good. If you are human, I think some point in your life, and you want to be recognized, whether or not you are an introvert or extrovert. Personal struggles are what I could think of when it comes to this.

The thought of creating such technology such as Bitcoin has lots of ups and downs. Probably there was a lot of discouragement and we are thankful that he didn't stop. It has come a long way and with that great effort, has brought birth to a new era.

[franky1]

True enough about the genesis block, but I'll have to stay on the fence with this one.  Clearly some of the work was already done before that particular headline was written.  As theymos alluded to, Satoshi was working on the idea in 2007 (i.e. before it actually became the 2008 crisis).  If the text embedded in that first block had contained a headline from 2007, then we could definitely point to that beyond all doubt as the true source of inspiration.  But it didn't.  It appears as though Satoshi deliberately launched the network upon reading that article, so it does support the notion that the financial crisis was undeniably a factor in their motivations.  

crisis began in 2007. ..
it wasnt until 2008-9 before it got concluded with bailouts

i remember in 2007 that bad things were happening. so dont try alluding that the crisis didnt happen until 2008-9
might help if you done research that there were financial issues in 2007. in regards to how banks were over creating 'bad money'
hint: sub prime loans

[tranthidung]

Link to CoinMarketCap is probably not a good idea. There are many good alternatives like https://coincap.io or https://coinranking.com

Why not?
Coinmarketcap.com is one of the most famous site in crypto world, or the most famous, I think.

[Kakmakr]

Link to CoinMarketCap is probably not a good idea. There are many good alternatives like https://coincap.io or https://coinranking.com

Why not?
Coinmarketcap.com is one of the most famous site in crypto world, or the most famous, I think.

It might be popular, but the information on Market Capitalization is commonly misunderstood and people compare coins based on confusing data that they do not understand. 

There are also people saying that the information on there are being manipulated, but I have no proof of that and I think those are just wrong rumors being spread by their competition. 

[tranthidung]

It might be popular, but the information on Market Capitalization is commonly misunderstood and people compare coins based on confusing data that they do not understand.  

There are also people saying that the information on there are being manipulated, but I have no proof of that and I think those are just wrong rumors being spread by their competition.  

I see.
Market capitalization is the most tricky term in crypto.
Even experienced experts/ investors have still misunderstood it.
In my minds, I think of it as pseudo-capitalization, because it totally depends upon one dominant factor. You know what I meant, right?
For now, I agree with you.

[DooMAD]

True enough about the genesis block, but I'll have to stay on the fence with this one.  Clearly some of the work was already done before that particular headline was written.  As theymos alluded to, Satoshi was working on the idea in 2007 (i.e. before it actually became the 2008 crisis).  If the text embedded in that first block had contained a headline from 2007, then we could definitely point to that beyond all doubt as the true source of inspiration.  But it didn't.  It appears as though Satoshi deliberately launched the network upon reading that article, so it does support the notion that the financial crisis was undeniably a factor in their motivations.  

crisis began in 2007. ..
it wasnt until 2008-9 before it got concluded with bailouts

i remember in 2007 that bad things were happening. so dont try alluding that the crisis didnt happen until 2008-9
might help if you done research that there were financial issues in 2007. in regards to how banks were over creating 'bad money'
hint: sub prime loans

Missing the point as usual, but okay.  What I'm saying is that while it's fairly safe to make the assumption that, because bad things were happening in that period, it could easily be the motivation behind Bitcoin's creation, it's still not quite definitive proof.  I know a lack of empirical evidence has never been a problem for you before, because we all know how much you love to tell fantastical stories, but some of us prefer facts over speculation.  And there are many facts we're likely never going to possess. 

Or is this the part where you tell us that you met Satoshi in person and they told you exactly what their motivations were?  Definitely sounds like the kind of thing you'd say.