Satoshi Nakamoto and His Paper

in #cryptocurrency5 years ago (edited)

No one knows who Satoshi Nakamoto is. He is a man of many talents, a Renaissance man so to speak. He understood enough about economics to know how important incentives and hard caps on money supply are, not to mention avoiding financial institutions like the plague. Believe me, people with PhDs in economics do not understand such basic concepts because our government universities have been so corrupted by the keynes virus economists don't know which way is up. He knew enough about the state of internet connectivity on a global scale to determine when to start the project and what the time between blocks should be. He knew enough about cryptography, math, coding, and the history of previous attempts at unconfiscatable money to put it all together. This range of knowledge possessed by a single man is something we haven't seen in over a hundred years. Maybe Teddy Roosevelt was the last true Renaissance man?

The Bitcoin White Paper was three things: a scientific paper; a literature review and a business plan. As a scientific paper it solves the double spending problem with a proof of work chain of hashes representing the timestamps. As a literature review Satoshi was obviously familiar with previous attempts and includes eight citations of pertinent previous work. As a business plan I have never seen one so flawless. In the real world you have a vision, write it down, and then the unexpected curve balls start rolling in. It's why startups are so time consuming. I have never in my life seen a concept brought to reality in such a clever way as Bitcoin. The implementation of a 24 hour a day 7 days a week program like this is stunning. The paper is elegant. This is an appropriate word for scientific publications that solve huge problems in a simple and concise manner. Think Watson and Crick, their elegant 1953 double helix DNA paper was one page long and lead to a Nobel Prize.

More later.

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