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Twelve years later, Bitcoin is still scaring fiat money


We all know what is celebrated today: Halloween. The party expected by children and adults from all over the world to dress up, eat sweets, and enjoy some good scares. However, another important date is also celebrated today, the anniversary of the launch of the Bitcoin white paper by Satoshi Nakamoto. And we can say that twelve years later, Bitcoin continues to scare fiat money.

A dark launch?

On October 31, 2008, the unthinkable happened, Satoshi Nakamoto, the legendary and anonymous creator of Bitcoin, released the white paper of the cryptocurrency to the public. An individual without even revealing his identity thus stood up against a world economic system established and protected by the governments of the world. But why do it on October 31? Why on Halloween?

As with everything related to Satoshi Nakamoto there are dozens of theories on this subject. After all, Nakamoto had 364 more days in which he could have released the Bitcoin white paper, without having to do so on a date as symbolic as Halloween. For this reason, there are members of the crypto community who wonder if it will not be a veiled reference to the Reformation.

And it is that, the day of the Reformation is a religious holiday celebrated in Germany to commemorate the beginning of the Protestant Reformation. A religious movement, which ended up being political, economic and social, and which led Christianity to face its greatest crisis to date. Whole countries were separated from the Catholic Church following the theses of Martin Luther.

Thus, Satoshi Nakamoto could have used the day to hint that Bitcoin was the start of a new Reformation, this time economic. However, there is an even darker theory, which relates the Bitcoin white paper to Samhain. The Celtic holiday that gave rise to Halloween and is still celebrated by neo-pagan movements such as the Wiccas.

The battle of Bitcoin and fiat money

However, although none of these theories can be proven, what is clear is that in its twelve years of existence, Bitcoin has delivered a good number of scares. Well, no one could have imagined the emergence of a decentralized virtual currency, born to challenge traditional fiat money.

Thus, in this short period of time, Bitcoin has gone from being a technological curiosity with little or no value. To become one of the main financial assets in the entire world. With a price of thousands of dollars, and millions of users using its Blockchain. Becoming a direct threat to fiat money.

Twelve years later, Bitcoin continues to scare fiat money. Source: CoinDesk

And, although it still has a long way to go before it can unseat fiat money, and become a common currency worldwide. Without a doubt, the achievements of Bitcoin in these years are enough to guarantee its global importance in the future. So today not only Halloween, Samhain or Reformation Day is celebrated, but and especially the Bitcoin Anniversary.

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