2026-01-02 15:22:22

Reflecting on the original intention of Bitcoin

It has been over ten years since its inception. Satoshi Nakamoto outlined his vision in the opening of the "Bitcoin White Paper"—we need an electronic payment system based on cryptographic proof rather than trust, allowing any two parties who voluntarily trade to transact directly without the involvement of a trusted third party.

A simple sentence, yet it captures the essence of the entire cryptocurrency movement. It does not rely on banks or government institutions, but solely on mathematics and cryptography to ensure the authenticity and security of transactions. This idea may have seemed a bit crazy at the time, but what about now?

Today, millions of people are using Bitcoin for transfers, and hundreds of billions of dollars in crypto assets are in circulation. From an initial geek experiment to a global financial phenomenon, Satoshi Nakamoto's dream has truly changed the world.

It’s worth pondering whether, in this process, the ideal of decentralized payments has gone astray. Or are we actually moving closer to the original vision?

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LiquidatedTwice

· 7h ago

Early ideals were hijacked by capital, and now talking about decentralization is almost a joke...

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GateUser-7b078580

· 7h ago

But... the data shows that transfer fees have long been out of control, with miners taking too much, and the original intention has long been drowned out by gas.

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Web3ExplorerLin

· 7h ago

hypothesis: we've basically recreated the banking system but with more steps and a blockchain wrapper, ngl... the irony of decentralization becoming increasingly concentrated in whale hands is not lost on me tbh

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SatoshiNotNakamoto

· 7h ago

Uh... do you still dare to talk about "decentralization"? The big players have already taken control. --- Original intention? Ha, sounds good, but isn't it just a different way to cut leeks now? --- True decentralization is already dead; what we have now is just a new central bank. --- It's been over ten years, still reading whitepapers. Can't we think about how to improve speed and reduce costs? --- Wake up, everyone. BTC is no longer what Satoshi Nakamoto envisioned. --- "No third party needed"? CEX, mining pools, big funds... they're all third parties, right? --- Thousands of billions of dollars in liquidity sound great, but what about small retail investors? They've already been washed out. --- How can it not be biased? Ideals and reality are always two different things. --- Bitcoin succeeded, but its spirit is dead. Is this a paradox? --- Still discussing original intentions, but in practice, everyone is centralized... a bit ironic.

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