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The $70 BILLION Bitcoin Ghost: Who Is Satoshi Nakamoto? | Beyond Bitcoin · Simply Bitcoin

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  A ghost just crashed the rich list.
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  A ghost with no company, no VCs, and no press store.
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  On paper, Satoshi Nakamoto now outpaces household names.
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  And they did it without building a brand, raising a dollar, or
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  giving a single interview. Here's the twist.
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  There isn't even a single Satoshi wallet.
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  It's an estimate of early minded coins.
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  Coins that as far as anyone can tell, have never moved because
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  when you spend from an address, you leave behind the public key
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  and a digital signature. Whereas Satoshi, for example,
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  never spent, never moved any of the initial mined coins.
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  So if in fact Satoshi had a million coins, and if those are
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  sitting there on the blockchain because they haven't been spent,
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  we don't have a signature and we don't have a public key value
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  without venture power without PR, Wait, what's power without
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  PR? Maybe not that one.
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  Today we're unpacking what it really means for the unknown
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  creator of Bitcoin to have huddled for this long and why it
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  matters more than the headline imotions.
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  This is beyond Bitcoin. Let's dive in.
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  Let's get precise for a moment. People say Satoshi's wallet, but
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  there is no single magic address.
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  Researchers infer a cluster of early mine coins often cited
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  around 1,000,000 Bitcoin. And this all comes from the
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  distinctive mining patterns in the first year of Bitcoin.
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  Add today's Bitcoin price and poof, you have billion dollar
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  headlines. But that is marked to market,
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  not realized wealth. Those coins, they don't move,
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  they don't vote and they don't lobby.
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  They just sit there like buried pirates gold in the lost city of
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  Atlantis. Now here's the part that really
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  breaks the brain. Satoshi didn't found a company.
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  He didn't reach out to VCs and he certainly didn't stack a
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  bunch of pre mined coins and then sell it on the market
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  later. Satoshi wrote a paper and then
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  he shipped the code and mined it early to secure the network
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  while it was still fragile. And then he leapt.
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  No victory lap. Just I've moved on to other
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  things. I wonder what those other things
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  are that exit mattered the most. I I think that for me, the
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  biggest one was that I'm less convinced that Satoshi.
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  Could have ever stayed like we have.
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  This like mental image in our mind that.
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  Satoshi chose to. Leave or was somehow some like a
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  benevolent decision on his part? Looking back to the archives and
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  like really digging and spending a lot of time with what happened
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  in 2010 and 2009, I really just think that in many ways the
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  community outgrew him. They no longer needed Satoshi.
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  Like if you. Look and follow the forums by
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  the end. By late 2010, you have a few
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  things that happen, and one of the notable things is that
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  people become outright. Hostile to Satoshi?
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  They become more comfortable dissociating from him.
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  You have people in these. IRC chats.
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  They're. Talking about oh, is he a woman?
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  Is he yakuza guy? They're.
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  Drawing pictures of him they're talking about, you know, if he
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  was a woman, they would claim him as their as their
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  girlfriend. They're like fighting over.
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  This kind of. Stuff.
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  So they just have this mental break where even in Satoshi's
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  like own time where he was. Like.
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  Actual person, like managing this project, he became so sort
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  of mythological. That that people just.
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  You know, became very. Abstract like the article starts
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  with, you know, people. Sort of.
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  Discussing like. All their theories about who he.
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  Is and how mysterious he is and in a reality he's still the
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  person pushing updates. The code.
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  So I think that, you know, really one, they, they really
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  dissociate from him like towards the end and I think 2:00 there's
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  kind of this wave of FUD that happens at the end of 2010.
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  You have the first, you know, people who are coming to the
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  Bitcoin project and Bitcoin's successful now.
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  It's like almost a dollar. It's like $1,000,000 project and
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  they're casting doubt on it. They're like, oh, you have this
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  leader and he could just change anything.
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  And you know you have. These.
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  I call this like part of the article.
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  It's like the birth of FUD. It's really like this is the
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  first. FUD.
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  Like there was no FUD. Before.
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  Like, you know, if you're a Bitcoin user.
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  You're used to. FUD like people making stuff up.
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  It's a challenge. You know, your insight and your
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  understanding of Bitcoin that had literally never happened
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  before. And their response months was,
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  you know, they were just like, OK, well, if Satoshi does
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  something bad, we're going to fork in everybody from like, you
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  know, your average pleb. User to Gavin.
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  Andreessen, who by that point was Toshi's right hands.
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  As essentially, you know, was like, look, if Satoshi goes
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  rogue, we're going to. Fork and I think, you know, in
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  actualizing this message, you know really.
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  What you. See, I think is that I don't
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  really. See how Satoshi could have
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  stayed if there's. No CEO to flatter or follow.
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  No foundation to capture. No press junkets.
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  How in the heck has Bitcoin become the best performing asset
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  since, well, forever? And I just think like the first
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  period of Bitcoin is weird because like you're Satoshi,
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  you're. This guy, like you know that
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  you've created decentralized money.
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  You know you've created the money free from government
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  control, finally. But like, nobody cares.
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  Like nobody. Nobody.
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  It's like that meme like. You know, with the Jurassic.
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  Park guy where he's like. See, nobody cares, right?
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  So you just think of like Satoshi being in that seat and
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  like you've invented this, this thing It's an it's a human
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  invention. Like maybe like it's like fire
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  flight and like Bitcoin like when when all said and done in
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  humanity like but just nobody gives a shit.
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  And he actually. Has to like, do stuff to get
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  people to care about. Bitcoin, so like I think the end
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  of that first phase. Is he really like he?
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  Launches the Bitcoin forums and you might think.
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  Like as like that being kind of an afterthought like that might
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  not be 1. Of the most important things.
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  So she did so. She did, but I really think it
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  was huge, actually. Because he built a community for
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  people to talk about Bitcoin and then what you find is as people.
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  Got together. They like built exchanges, they
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  started trading like they started and Bitcoin like had a
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  price like I think the end of that first.
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  Period is like. People get together and they
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  price Bitcoin and. You know it's it, but it is
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  weird to think about. Satoshi had to actively like
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  court. Interest in Bitcoin, right And I
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  think that to me that was another realization that I
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  thought was interesting is like. Oh, no.
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  He was a guy who had to. He had to go out to us.
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  He had to. You know, find ways to get
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  people interested. And I never really pictured
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  Satoshi in that way as like being like an innovator, like
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  somebody who launched something, who had.
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  To like. In some way try to make it.
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  Appeal to people. So I think that was that was
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  interesting. Bitcoin's center of gravity
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  stayed with the protocol, not the person.
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  That's why you don't see a Satoshi keynote at the Bitcoin
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  conference or a brand department steering narrative.
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  The design choice wasn't an accident, and Satoshi's absence
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  may just be seen as having biblical level significance in
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  the future. Let's compare this to living
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  moguls like Musk, Bezos, and Gates.
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  Their wealth is tied to boards, brands and balance sheets, their
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  operators playing in a corporate game well within the public eye,
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  and their public presence is one of the many attributes that
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  allow them the success that they've had so far.
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  Satoshi's wealth is different. It's transparent, inert and
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  auditable. Audible, auditable, auditable,
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  auditable audit table. And most importantly, it's
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  outside of corporate governance. If Satoshi's coins never move,
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  they function more like a monument and not a lever.
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• 7:02
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• 7:04
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• 7:09
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• 7:13
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• 7:16
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• 7:20
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• 7:23
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• 7:26
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• 7:29
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• 7:32
  15% off your purchase. That's SAT 123.com.
• 7:36
  Link below. Every few months this headline
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  surfaces. Satoshi's moved.
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  Here's the reality. Analysts watch old coins like
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  Hawks, and so far every scare either traced to unrelated early
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  minors or didn't match the known patterns.
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  If the real Satoshi coins ever moved, it would be the loudest
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  on chain signal in history. Not because a billionaire cashed
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  out, but because but because the myth has suddenly become real.
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  Now that can't be said about any Fiat Inc account, and honestly,
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  the fact that they don't move has become part of Bitcoin's
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  story. Satoshi's a spiritual figure in
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  the Bitcoin community. So I mean, Satoshi is is
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  equivalent to Prometheus. Prometheus gave us fire.
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  Satoshi gave us money, Bitcoins. The is the first perfect money,
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  the first perfect money in the history of the human race.
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  I spend my copious free time reading economic history and
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  I've read thousands of years of economic history and 10s of
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  thousands of pages and it's 1 chaotic, you know, disaster
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  train wreck of we use seashells, we use bales of tobacco, we use
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  silver and gold that we clipped the coins and we had by metalism
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  and it crashed and we had Fiat currency and we had a debt
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  crisis and and no one ever had a money that was not defective.
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  I mean, I can show you examples of monetary crashes every 30
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  years for the past 3000 years in every single culture, and
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  Satoshi comes along for the first time and says, Oh yeah,
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  here's money, it's not broken. Issue and schedule, the having
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  cadence, rule set enforcement. That predictability is the
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  opposite of human whim and fancy, and it's why the story
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  plays at civilization scale. So when you see that tweet that
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  Satoshi is now worth X, ahead of Y and behind Z, remember that's
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  a mirror we hold up to our world and not some trophy sitting on
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  someone's shelf. It tells you open permissionless
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  systems can out produce gate kept empires without the empire.
• 9:40
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• 10:00
  The wealthiest nobody is proof that rules can outrun rulers.
• 10:04
  Whether the number on that tweet goes up or down tomorrow, the
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  lesson holds. Neutral rule sets scale further
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  than personalities. If you found this video
• 10:13
  interesting, hit the like button so more people can see it.
• 10:16
  Or you can subscribe to the Simply Bitcoin channel.
• 10:18
  We're putting out content like this every single day of the
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  week. And I'd also love to hear your
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  favorite Satoshi myth you're dropping in the comments below.
• 10:25
  Imotions. This is beyond Bitcoin.
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  Until next time.