Bitcoin Whitepaper Turns 17

On October 31, 2008, Satoshi Nakamoto published the Bitcoin whitepaper, laying the groundwork for the world’s first cryptocurrency amidst the global financial crisis. Since then, Bitcoin has transformed from a digital experiment into a $2 trillion asset, gaining acceptance in Wall Street and even high-level government circles. Despite its mainstream success and significant inflow into Bitcoin ETFs, challenges remain, including internal disputes, declining transaction fees, and potential threats from quantum computing. The initial vision of Bitcoin as a peer-to-peer cash system is now often overshadowed by its perception as a store of value. Notably, mainstream figures such as former President Donald Trump and BlackRock CEO Larry Fink have shifted from skepticism to advocacy for Bitcoin. However, some early believers express concern that institutional adoption dilutes Bitcoin's decentralized ethos. As its transaction fees fall and debates continue over network management, the future of Bitcoin remains uncertain, with opinions divided on whether it can retain its foundational role amid evolving narratives.

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