Who invented the cryptocurrency bitcoin and why.

It is no secret that for many years Bitcoin has become synonymous with any cryptocurrency, although there are many coins, as well as choices between them.

However, when studying the history of crypto, it is essential to learn who created Bitcoin and how the situation with coins is today. Moreover, understanding who invented Bitcoin will be useful for any investor, especially a newcomer. 

Who created Bitcoin and why? 

When studying the history of who invented Bitcoin, it is worth mentioning the purpose as well. Indeed, even in such a nuance (who invented Bitcoin), there is much mystery. The cryptocurrency Bitcoin was developed by an anonymous person or group of people under the pseudonym Satoshi Nakamoto. 

That is, it remains unknown today whether this pseudonym represents a group of people or the name of a single real person. The first version of the Bitcoin software and its documentation, known as the "white paper," were published by Nakamoto in 2008. This year can officially be considered the beginning of Bitcoin, and given its success, the entire cryptocurrency as a whole. In January 2009, the first block of the Bitcoin blockchain, known as the "genesis block," was launched. From that moment, although risky, active investment in cryptocurrency began. 

Besides the moments of cryptocurrency creation, it is worth mentioning a few words about the reason for the appearance of Bitcoin. First and foremost, the reason lies in decentralization and independence from banks and governments. The main goal was to create a currency that would be fundamentally different from the concept of traditional currency. With a different binding, guarantee, and principle of operation.

Furthermore, Bitcoin was initially intended as a currency that would not be linked to a bank or any other standard system. Traditional financial systems depend on central authorities, such as banks or governments of specific countries. They control the monetary flow. Bitcoin, on the contrary, allows users to conduct transactions directly with each other (peer-to-peer), bypassing intermediaries. The idea of Bitcoin (on such a principle) is certainly not new, but it only became possible to implement it in 2009. 

A few more reasons for creating Bitcoin? 

In financial systems, which have long been known, trust is required in central authorities that manage money and conduct transactions. Bitcoin eliminates the need for trust in centralized structures as its operation is based on mathematical algorithms and open-source code, making the process transparent and verifiable. This indeed happened, although not immediately. 

An important reason for the creation of cryptocurrency was anonymity and privacy. Bitcoin was developed to provide greater anonymity and privacy for users compared to traditional banking systems. Although transactions in the Bitcoin blockchain are public, users can remain pseudonymous, as identification is done through cryptographic keys rather than personal data. Such confidentiality has long been lacking in the traditional banking system. 

What has always been important is that, unlike fiat currencies such as the dollar or euro, which can be printed in unlimited amounts by central banks, Bitcoin has a limited supply. Only 21 million coins can ever be issued. This makes Bitcoin protected from inflation caused by excessive issuance.

It should also be noted that Bitcoin coins have long exceeded all expectations. Although many of the goals for which cryptocurrency was created have been fully achieved.