Who founded Bitcoin and why it was produced is a question mark in the minds of many of you. The founder of Bitcoin is known as Satoshi Nakamoto, and the story of crypto coins, which took 2010 to mature, sprouted with the bitcoin article in 2008. With the crypto coins containing P2P (end-to-end, from one user to another user) technology, it was aimed to establish an order in which there is no other person based on trust. Crypto coins, whose value is not determined by any institution and are in a distributed structure, are produced using blockchain technology. The most important reason for the emergence of this innovation, which started the digital transformation, came from the idea of a money that central banks could not manage. Especially after the 2008 Mortgage Crisis, this idea accelerated and bitcoin entered our lives. We have witnessed the liberalization of money that is kept under control to restrain greed and monopoly and the introduction of bitcoin into our lives for this way. Satoshi Nakamoto, who thinks that central banks are violating trust, stated that bitcoin is the solution to the situations of divisibility, portability and scarcity, emphasizing that the main problem against the fiat currency is trust. Based on this data, we can say that bitcoin was created with the aim of removing money from an authority motive and that it is based only on trust. Thus, a democratic cryptocurrency was created that could be seen by everyone, where the transaction took place directly between the parties, which could only be managed by the people involved.
Why Was Bitcoin Produced?
- March 29, 2023
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