BitMEX Gives a Shout Out Salute to Satoshi Nakamoto with Times Front Page Ad for BTC’s 10th Bday


The cryptocurrency platform and exchange BitMEX has advertised on the front page of The Times on January 3rd, 2019. The idea with this advertisement was to say thanks to Bitcoin’s creator Satoshi Nakamoto. BitMEX chose The Times since Mr. Nakamoto quoted the front page of this publication when Bitcoin’s first block was mined.

The information has also been released on Twitter by BitMEX. The advertisement includes the hash of the Bitcoin block 554.509.

 

Satoshi Nakamoto embedded a short text on the first mined block that says:

“The Times 03/Jan/2009 Chancellor on brink of second bailout for bank.”

The address that received the first 50 Bitcoins has also received more than 16 BTC during the last years. However, these funds cannot be spent since the code was written to avoid these funds being spent. Neither Satoshi himself can move these funds, even if he wanted to do so. The address can be seen here.

Bitcoin was created with the 2008/9 crisis in mind. This financial crisis affected individuals from all over the world and also financial institutions. In order to avoid this traditional financial world, Satoshi Nakamoto decided to create Bitcoin (BTC) something that was discussed in the past by cypherpunks and other crypto enthusiasts.

Satoshi Nakamoto explained that there is nobody acting as a central bank controlling Bitcoin’s supply. He went on writing in an email that Bitcoin is more like a precious metal.

“Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases,”

he explained.

At the same time, he believed that as its price goes up, more users would be interested in taking advantage of this increasing value. Now, Bitcoin was able to grow up to $20,000 and has shown that it can be a resilient currency when it’s needed.

After ten years, Bitcoin reached traditional financial markets and it is expected to receive many new investments from all over the world, including financial companies.

Currently, each Bitcoin can be purchased for $3,887 and it has a market cap of $67.87 billion.

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