Bitcoin is the future of the medium of exchange for huge transactions. While discussing bitcoin, the interest is automatically generated due to the extraordinary features that this cryptocurrency has, and mainly because of its mysterious beginning, it is still unknown who has created this revolutionary type of currency. To be further surprised, all one needs to do is check the bitcoin price
The Beginning Of Bitcoin
The beginning of bitcoin was way back in 2008, when a person or a group, it is still unclear, by the name of Satoshi Nakamoto. However, this software was finally launched in 2009, the true identity of the creator of this is still anonymous, the Bitcoin price in itself is as interesting as bitcoin and reflects that Bitcoin is for humungous transactions.
After creating something so significant and efficient, there are not many reasons why the creator would like to remain anonymous. However, let us assume some of these reasons why the Bitcoin creator chose to be unidentified:
- The primary reason for the people behind the name Satoshi Nakamoto to remain anonymous can be privacy. It was sure that a cryptocurrency without a regulatory body would gain widespread popularity. Thus, to avoid the coverage of media and governments, they/he/she opted to stay unrecognized.
- Another reason might have been the caliber of Bitcoin to create an upheaval in the entire banking and monetary systems. Bitcoin, there is no doubt to have the potential to overshadow any country’s sovereign fiat currency, so the basic idea behind this was to escape legal action from the governments for this threat, which Bitcoin could cause.
- Accountability: This reason is bonafide that those who hold bitcoin would be under the threat of criminals because bitcoin does not stock and to quite an extend, resemble money as the private keys that are required to authorize spending can be printed out not by many difficulties thus in cases of theft, the developers wanted to avoid accountability.
Considering the given reason for staying anonymous, it seems that the developers are smart enough to not get themselves in any trouble. It has been more than a decade that their creation is successfully flourishing.
Bitcoin is among the most interesting medium of exchange, therefore is highly recommended for those who need to transact without the authorities knowing. It has given the people the best opportunity to make payments or receive them without any major concerns.