The Book of Satoshi
The Collected Writings of Bitcoin Creator Satoshi Nakamoto
e53 Publishing LLC, 2014
(Some insiders, by the way, have an idea who Satoshi Nakamoto might be. A fascinating thesis comes from Charles Hoskinson, the founder of Cardano, another increasingly important cryptocurrency. You can listen to it right at the beginning of this exceptionally substantive Youtube interview: https://youtu.be/NX3fGKMd004)
DEAR FRIEND OF 8 BOOKS A YEAR,
A Youtuber recently asked: “How much money would you have today if you bought 10,000 Bitcoins exactly 10 years ago?”, adding “At $1 per Bitcoin”. I was about to do the math, but he answered the question himself: “Probably $9,700.” Why? Because in his opinion, inexperienced crypto investors panic at the first price slide and tend to sell everything immediately. Anyone who had actually bought back then AND held out would be sitting on about $600 million today. But let’s move from the subjunctive back to reality: The anonymous inventor of Bitcoin, still known only by his pseudonym Satoshi Nakamoto, demonstrably mined 1.1 million copies of his own digital currency between January and July 2009 – and, for all we know, still holds most of them. Which, at the current rate, equates to almost $66,000,000,000 (in words: sixty-six billion untouched U.S. dollars). So, is Bitcoin the digital replay of the tulip bubble of 1637? Or, as the very first digital, mobile, bank-independent and deflationary store of value, the new gold? Some have predicted a price of $500,000 or more – others zero. Either way, with nearly 10,000 cryptocurrencies now in existence, we are dealing with a phenomenon that deserves our attention. Unfortunately, I haven’t found a really outstanding and up-to-date book about Bitcoin – but my girlfriend has discovered an amazing one: the collected writings of Satoshi Nakamoto, maybe the greatest phantom of our time. His last sign of life: a forum entry from 03/07/2014 (see page 328). Thanks to its commentaries, this book is not only very comprehensible but as exciting as a true story can get. What’s your estimate for BTC being worth in 5 years?
All my best,
Christian Kaspar Schwarm