"10 years ago today (Fri 6:10pm 2008-10-31 UTC) Satoshi Nakamoto announced the creation of Bitcoin to the cryptography mailing list. Satoshi's creation is the most important innovation to money (itself the most important good in any society) in a thousand years.
A thread 👇"
- Vijay on the initial launch of bitcoin - which was received with little fanfare - and how far the cryptocurrency has come in the past decade.
Empirically, we've observed that money - whether in the form of a shell, metal, or piece of paper - is a bubble. It's just not a bubble that pops frequently. As a society, we have the luxury of forgetting this fact after experiencing multiple generations of an arguably strong, functional money. On bitcoin's 10th birthday, it's important to reinforce that the version of the monetary system we inherited (and grew up with) won't necessarily be the monetary system that will endure.
IN CASE YOU MISSED IT
🕊 Ethereum foundation is donating to support ETC development The Ethereum Foundation recently did a financial sweep through old wallets and found about 15,000 unsold ETC (~$150,000 USD), and the Ethereum Special Projects team has decided to donate the unsold ETC to the Ethereum Classic Cooperative. We've recently seen similar acts of goodwill between bitcoin core and bitcoin cash developers navigating potential bug exploits. The ability to know when to disengage with intrapersonal tribalism (within the cryptocurrency community) and instead act on interpersonal tribalism (between the cryptocurrency community and fiat community) is critical to this space's survival.
For more of today's top stories, head on over here.
READ OF THE DAY
📖The Curse of the Handshake Deal Rick Sanders on how implied contracts and licensing can go wrong, why we enter handshake deals, and the importance of explicit contract writing.
Best Insight: "Implied software licenses aren’t quite all they’re cracked up to be. You don’t know whether you have one, until there’s a lawsuit and a court says you have one. And, even then, the court might say you don’t have one, and all that money you spent didn’t buy what you thought it bought."
LAUNCH OF THE DAY
🚀 Expo Leveraged ETH (LETH) is now live on Expo which is built on the dYdX margin trading protocol.
THING TO KNOW
BOLT: Blind Off-chain Lightweight Transactions. BOLT eliminates the
linkage between payments within a channel, using standard cryptographic techniques such as commitments, blind signatures, and zero-knowledge proofs.