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June 14, 2026, 09:38:38 PM |
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I Philosophy
Bitcoin is not philosophically complex – it is a private currency whose scarcity is due to the difficulty of certain mathematical calculations (solving these calculations requires electricity and computer power).
The utility of private money is easy to understand. The idea that a mathematical calculation can have monetary value is not new.
Creating Bitcoin was philosophically easy.
II Technology
Bitcoin is technologically remarkably more complicated than philosophically. In spite of that, there were many electronical private currencies created before Bitcoin and some of them were probably satisfactory enough for testing in the market: they were technologically ready for exchanging their ownership for valuable goods and assets /please correct me if I am wrong!/.
III Marketing
One thing is sure - Bitcoin was the first electronical private currency that was marketed well enough to achieve remarkable financial success (it went from zero to trillion USD market cap in a dozen years 2009-2021). Satoshi (his team) had great marketing power though it is not known what were its sources: his (his team members) own talent/connections/finances, some governmental aid, influential interest groups, ... ??
If Satoshi ever gets a Nobel Prize, it would be mainly for his achievements in marketing, not technology or philosophy.
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