Bitcoin’s Most Powerful Defense? Satoshi Nakamoto’s 16-Year-Old Message Still Resonates
TL;DR:
- On July 29, 2010, Satoshi Nakamoto posted his famous response on the Bitcointalk forum regarding doubts about Bitcoin’s scalability.
- The asset was trading around $0.07 at the time the original message was published by its creator.
- The network’s global market value reached all-time high quotes above $126,000 last year.
Every July 29 is a historical date for the crypto community. This year marks 16 years since the famous debate on network scalability starring Satoshi Nakamoto.
It all dates back to the year 2010 on the Bitcointalk forum, specifically in the thread titled “Scalability and transaction rate”. Amid that debate, a user raised concerns about the operational speed of the pioneer crypto, comparing it to the traditional bank card network and pointing out that the 10-minute wait per block limited its daily use in retail.
Faced with the user’s persistent skepticism, Satoshi Nakamoto, the network’s pseudonymous creator, technically argued how third-party payment processors could handle fast transactions within 10 seconds or less.
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