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Bitcoin: Overview Of The Unique Asset

Jun. 09, 2020 4:52 PM ETGrayscale Bitcoin Trust (BTC) (GBTC)70 Comments
Don Durrett profile picture
Don Durrett


  • Bitcoin is a unique asset that will be held by investors for its store of value.
  • Bitcoin's uniqueness cannot be duplicated, or at least it hasn’t yet. This is what makes it unique and comparable to a collectible.
  • Bitcoin was designed to both increase in value and survive. So far, both have been true. This unique design is misunderstood by its detractors.

This will be my last article on Bitcoin. Once Bitcoin reaches $10,000 it will no longer need any voices. It will speak for itself. But since we are close to the point in time where Bitcoin becomes a mainstream asset that is widely held, I wanted to write one final article to spread the word.

If you read this article and still doubt Bitcoin’s staying power, then you will have at least done your DD (due diligence). You will not regret not buying it for not doing any research.

A Short History of Bitcoin

On October 31st, 2008, the Bitcoin whitepaper was posted on the Internet. It was titled, Bitcoin: A Peer-to-Peer Electronic Cash System. The author’s name was Satoshi Nakamoto.

On January 3rd, 2009, Satoshi Nakamoto created the first block, called the genesis block. In that block, he put the comment, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” Which was an article from the London Times newspaper on that date.

On January 9th, 2009, the Bitcoin open-source software was posted on the Internet. Then, on January 12th, Satoshi sent the first Bitcoin transaction to Hal Finney in California. Finney was one of the first adopters of Bitcoin and contributed to enhancing the code.

From 2009 until late 2010, Satoshi emailed people who were working on enhancing the Bitcoin software. His emails have the same grammar and writing style as the Bitcoin whitepaper. He was very precise and eloquent in his writing style. He also used the British English spelling of words. These emails offer proof that he did indeed write the whitepaper.

In late 2010, Satoshi handed over the code depository to Gavin Andresen and vanished. He disappeared and has never corresponded with anyone since that time. His real identity has never been determined, but it is recognized that

This article was written by

Don Durrett profile picture
Author of How to Invest in Gold & Silver: A Complete Guide with a Focus on Mining Stocks. Expert on gold and silver mining stocks. Website: https://www.goldstockdata.com.Twitter: https://twitter.com/DonDurrettYoutube: https://t.co/TKA05E3Gsr?amp=1Instagram: https://www.instagram.com/dondurrett/Website: https://www.dondurrett.com

Analyst’s Disclosure: I am/we are long GBTC. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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