What is the meaning of the letter written by Satoshi?

[Crypto123 0]

On Jan. 3, 2009, an anonymous developer called Satoshi Nakamoto made history when he (or she, or they) released the Genesis Block, the original block containing the first 50 bitcoins, onto Sourceforge. Unlike any of the 502,000+ blocks that came after, Nakamoto left a message in the code of the block:

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

That line comes straight from the headline of a London Times article dated Jan. 3, 2009, which detailed banks being bailed out by the British government.  While Nakamoto never clearly stated the meaning of the message, many have interpreted it as a reference to why Nakamoto developed Bitcoin: to cut out the banks and middlemen that he saw as corrupt and unreliable, electing to create a more people-driven currency

Source: https://www.investopedia.com/news/what-genesis-block-bitcoin-terms/

 

So what do you think is the meaning of Satoshi's message?

[Crypto123 0]

13 hours ago, TimopheyKa said:

😙Most likely, he wanted to create a new revolution in the topic of trade and currencies. And that cryptocurrency will come to replace our usual currency, and what do you think?

Yes, I think so. He hated the existing monetary and financial system, hated the banking system and controlled the dollar in all currencies, so he decided to revolt on this status quo by creating a decentralized and uncontrollable currency.

[kyoukage01 3181]

By the way many people have interpreted that message, you would almost think Satoshi Nakamoto is the Karl Marx of the modern internet financial world, who tried to destroy the status quo set up by modern bourgeoisie by introducing blockchain technology.

 

Or maybe we are just thinking too much, and he/they left that message just to troll our minds.

Edited November 17, 2019 by kyoukage01

[dmnqe07 365]

Great topic, i learned again. i am really thankful to this forum. 

I think Nakamoto's idea was to create a revolutionary in a way of cryptocurrency and trading. Satoshi nakamoto built a financial weapon againt's central banking.

[Crypto123 0]

1 hour ago, kyoukage01 said:

By the way many people have interpreted that message, you would almost think Satoshi Nakamoto is the Karl Marx of the modern internet financial world, who tried to destroy the status quo set up by modern bourgeoisie by introducing blockchain technology.

 

Or maybe we are just thinking too much, and he/they left that message just to troll our minds.

I liked this description: "Satoshi Nakamoto is the Karl Marx of the modern internet financial world" Yes this description fits Satoshi perfectly. He has already revolutionized.

[Sumayya 493]

He was simply telling the world that he is here to give them right to achieve what they want to achieve, and can trust bitcoin

[Crypto123 0]

On 11/17/2019 at 7:59 PM, madera said:

I dont think that there is anybody who know what is the meaning on the letter written by Satoshi, first we need to find this letter then we try to explain or talk about the meaning of this letter, I think the only can find this letter is his family!

The message already exists Dear Sir, Satoshi's signature on the first block of Bitcoin is as follows: "The Times 03 / Jan / 2009 Chancellor on brink of second bailout for banks". The message still exists as it is but understanding its meaning varies from person to person.

 

[ASDFGHJKL17 267]

On 11/14/2019 at 1:56 AM, Crypto123 said:

On Jan. 3, 2009, an anonymous developer called Satoshi Nakamoto made history when he (or she, or they) released the Genesis Block, the original block containing the first 50 bitcoins, onto Sourceforge. Unlike any of the 502,000+ blocks that came after, Nakamoto left a message in the code of the block:

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

That line comes straight from the headline of a London Times article dated Jan. 3, 2009, which detailed banks being bailed out by the British government.  While Nakamoto never clearly stated the meaning of the message, many have interpreted it as a reference to why Nakamoto developed Bitcoin: to cut out the banks and middlemen that he saw as corrupt and unreliable, electing to create a more people-driven currency

Source: https://www.investopedia.com/news/what-genesis-block-bitcoin-terms/

 

So what do you think is the meaning of Satoshi's message?

Oww, thanks now i know and now i understand more  what is the meaning of the letter written by Satoshi Nakamoto. 

[Raven 7817]

On 11/17/2019 at 1:18 AM, TimopheyKa said:

😙Most likely, he wanted to create a new revolution in the topic of trade and currencies. And that cryptocurrency will come to replace our usual currency, and what do you think?

I agree with you mate, i think that too. He want to create a new world using crypto currencies, he want the people to be rich and comfortable using crypto currencies in the future so that everyone has a opportunity to become rich and be successful in the future. That's what i think. 

[Crypto123 0]

8 minutes ago, Abdullahi said:

The idea was to diminish local banking system where there are alot of currupt practises and normal lay man citizen is beign threeaten injustly by imposing them unrecognized illegal charges  then he came out with an evolution that will change the world

Yes, you are right, Satoshi hated the prevailing banking system in the world because he is corrupt and full of injustice because it makes the government that controls the bank controls its people as well as the powerful countries that those money and international banks such as the international Bank controls the people and the governments of other countries weaker of them. Satoshi has thought of a way to eradicate all this and his insight into the invention of bitcoin.

[Yanadia 1517]

Only Mr.Sathosi knew and the people who were connected at that time meant the message of Mr. Sosius.  In my mind, Mr. Sathosi wants to not run away from his goal of creating BTC for the grassroots and for the benefit of the people not for the big people who are ultimately controlled by some greedy people.

[BTC Future 3946]

On 11/17/2019 at 8:16 AM, Awaremooner said:

I believe Satoshi saw the rot and corruption in the present day banking system and decided to check the activities of banks by creating a decentralized money. The meaning in a broader term is to short fiat and long bitcoin

As Pompliano puts it : "Long Bitcoin - Short the Banks!" . Satoshi's hidden message hits right to the core ofthe corrupt banking system that runs our democracies. This is the real unregulated economy that is built on secrecy, closed doors and centralized in the hands of a few that legislate and destroy economies worldwide.

[Crypto123 0]

1 hour ago, BTC Future said:

As Pompliano puts it : "Long Bitcoin - Short the Banks!" . Satoshi's hidden message hits right to the core ofthe corrupt banking system that runs our democracies. This is the real unregulated economy that is built on secrecy, closed doors and centralized in the hands of a few that legislate and destroy economies worldwide.

Well done my friend, I think this is exactly the content of Satoshi's message, he hates this false and deceptive banking system that controls democracies and the whole world through his secret schemes and corrupt system.

[Oxygen 1004]

On 11/13/2019 at 10:56 PM, Crypto123 said:

On Jan. 3, 2009, an anonymous developer called Satoshi Nakamoto made history when he (or she, or they) released the Genesis Block, the original block containing the first 50 bitcoins, onto Sourceforge. Unlike any of the 502,000+ blocks that came after, Nakamoto left a message in the code of the block:

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

That line comes straight from the headline of a London Times article dated Jan. 3, 2009, which detailed banks being bailed out by the British government.  While Nakamoto never clearly stated the meaning of the message, many have interpreted it as a reference to why Nakamoto developed Bitcoin: to cut out the banks and middlemen that he saw as corrupt and unreliable, electing to create a more people-driven currency

Source: https://www.investopedia.com/news/what-genesis-block-bitcoin-terms/

 

So what do you think is the meaning of Satoshi's message?

I think the statement you shared could be the meaning that satoshi want to minus banks or want to give all the control of a general public man. as banks take money from people, they invest and get profit, and only a small portion of that profit is being given to account holders. but in bitcoin 100% will go to a person who holds this. He/She have no restriction of using his/her funds at any 24/7 a year. So there are many other meaning can be driven from his statement.

[Interface User 1070]

I think the more focus of his letter is to remove Banking System and Governments in controlling money supply. It also makes the individual control his or her wealth without the hands of governments so I think that's some meaning of the letter.

[Afrizal rahman 2636]

On 11/17/2019 at 12:18 AM, TimopheyKa said:

😙Most likely, he wanted to create a new revolution in the topic of trade and currencies. And that cryptocurrency will come to replace our usual currency, and what do you think?

Yes, it is possible that Satosi created this to fight the bank that always uses taxes in its transactions or it might create a new history as you mentioned.

[Crypto123 0]

On 1/16/2020 at 1:14 PM, Sahil19 said:

I don't know about this that you send because I am in Crypto for two months and I really don't know well about this but I am learning day by day

Well I will tell you what the message means in my opinion, Satoshi wanted from his letter to draw attention that the main goal of Bitcoin invention is to eliminate the corrupt central banking system by building a decentralized system that no one can control and everyone is equal through it.

[Crypto123 0]

On 12/30/2019 at 9:32 AM, kuseav said:

Satoshi Nakamoto is Karl Marx of the world and their finances, networks, careers and importance. The combination between us and our differences.

Yes Satoshi is Karl Marx of the modern era, and I think he is much more important than Karl Marx. He has rebuilt the global economy and arranged its system in a completely different way than it was before.

[Wijayafajar06 274]

I think Santosi created this by aiming to fight a central bank that made someone richer and without thinking about the people below. With Bitcoin, there is no longer any possibility of corruption because everything is recorded with the Blockhain system.

[Beeba 240]

This name belong to its fonder and he is first person who give the concept and remove the financial problem which create from from financial department and this concept fully freedom from government policy.

[Gg233 1061]

That’s was good information and it’s really good to know the story of this bitcoin for today many people curious about the story behind it and how it is started.

[phpMailz 568]

I don't think anyone in the crypto world, know the actuall meaning of Satoshi letter, I think it was a statement to the poor financial sector that is being control by governments around the world.

[fatima123 320]

It means permission to launch some things new for online payments system this is the highest level of humanity when he started this blockchain concepts. 

[MCSGlegend 2210]

I think that with these words, he came out to protest to the banks and made bitcoin just so that the banks stopped completely controlling the financial market.

[Crypto123 0]

5 hours ago, Imad77 said:

 according to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins." Bitcoin is also commonly abbreviated as "BTC."

Thank you for this new information for me, but excuse you, the topic here speaks about the meaning of the symbolic message that Satoshi left in his signature on the first block that he mined.