There were many precursors to the Bitcoin system, but IMO, none came as close to correctly defining the problem, and solving the key issues of trust as Nick Szabo’s Bit Gold concept. Reading another great piece made available by the Nakamoto Institute, we read and discuss the incredible prescience of Szabo through one of Bitcoin’s forefathers, Bit Gold.
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In one of his last posts on the BitcoinTalk forums, Hal Finney posted a short message about his past, finding Bitcoin, working with Satoshi, coming to terms with his disease, and the legacy he was leaving behind. On this day in 2014 we lost a true cypherpunk
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For this milestone it’s time to take it back to the philosophical roots of the movement that lead to the community, the ideas, and the drive to create Bitcoin and the other tools enabling a future with a free, open, & global cryptoconomy!
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Vijay Boyapati details in a Twitter thread, the brilliant but subtle shift that cypherpunks discovered in the economic concept of scarcity that made the revolutionary technology of #Bitcoin possible.
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“Privacy is not secrecy. A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know. Privacy is the power to selectively reveal oneself to the world.” – Eric Hughes
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“Although there was never complete agreement on any one thing, this was an open forum where personal privacy and personal liberty were ultimately placed above all other considerations.” -@PetriB2
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“If we do nothing, new technologies will give the government new automatic surveillance capabilities that Stalin could never have dreamed of. The only way to hold the line on privacy in the information age is strong cryptography.” -Phil Zimmerman
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“It’s actually the protocol (Nakamoto consensus, which is highly distributed) combined with strong cryptography, rather than just decentralization per se, that is the source of the far higher reliability and and much lower vulnerability of block chains.” – @NickSzabo4
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The 4th in the excellent Genesis Files Series from Aaron Van Wirdum (@AaronvanW) and Bitcoin Magazine (@BitcoinMagazine). Today we read about BitGold and How Nick Szabo (@NickSzabo4) was “Inches From Inventing Bitcoin.”
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“Compromising on trustlessness could help the Bitcoin price find a local maximum, at the expense of finding a much higher global maximum.” – Pierre Rochard
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