IS BITCOIN THE BLACK SWAN WE HAVE BEEN WAITING FOR?

In the midst of the banking system crash, on Halloween of 2008, London’s BBS news website summarized the events on their website frozen in history. The headline read “Recession Fears Grip the United States”. Sometime that night, in a lonely badly lit basement room, a computer was hosting an obscure website dedicated to the tiny population of paranoid cryptologists. Silently and almost inconsequentially, a new message blinked into existence on a newsgroup forum. It contained a simple and plainly worded message from someone previously unknown.

The seemingly insignificant post title might have easily been ignored. It read…”Bitcoin P2P e-cash paper”. The message indicated it was from somebody calling himself “Satoshi Nakamoto” and the paper itself was uninterestingly titled “Bitcoin: A Peer-to-Peer Electronic Cash System”. It sat there unread as fellow forum member cryptologists were dressed in Halloween costumes and otherwise engaged in cyberpunk parties for the night. The next day, although nobody at the time realized it – somebody finally read the message on the forum board and eventually word spread.

The world would never be the same. November 1, 2008 – was zero day.

Bitcoin may be that Black Swan we’ve been waiting for” – an excerpt from an article written by Mark Rees.

What is a Black Swan Event? Here is a definition by Wikipedia…

The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight.

What is your opinion?

Is Bitcoin that Black Swan the world has been waiting for? Leave your comments below.

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