BREAKDOWN: 11 Years Ago Today, Satoshi Disappeared
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 13 December 2021
⏱️ 15 minutes
🧾️ Download transcript
Summary
How Bitcoin was changing in fall 2010 and what it means for today.
This episode is sponsored by NYDIG.
Eleven years ago, on Dec. 13, 2010, Satoshi Nakamoto posted on the BitcoinTalk forum for the last time. He would pop up in emails here and there for a few more months, but for the majority of the Bitcoin community, he was gone. In today’s episode, NLW explores how the Bitcoin community was changing, and how the legacy of that period remains with us today.
Read more about the transition to the post-Satoshi era from Pete Rizzo on Bitcoin Magazine: https://bitcoinmagazine.com/technical/what-happened-when-bitcoin-creator-satoshi-nakamoto-disappeared
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NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: Janos Kummer/Getty Images News, modified by CoinDesk.
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Transcript
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| 0:00.0 | One of the important things that was happening at this time is that users were sort of questioning |
| 0:05.2 | Satoshi as a leader, but not just Satoshi as a leader, any leader as leader. |
| 0:10.4 | They were starting to really dig into the idea of Bitcoin as a network that was different |
| 0:15.7 | than some traditional organization. |
| 0:19.3 | Welcome back to The Breakdown with me, NLW. |
| 0:23.4 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:30.5 | The breakdown is sponsored by Nidig and produced and distributed by CoinDesk. |
| 0:37.0 | What's going on, guys? It is Monday, December 13th, and today is a fascinating day. |
| 0:44.0 | Eleven years ago today, Satoshi Nakamoto posted for the last time on the Bitcoin Talk Forum. |
| 0:52.1 | In December of 2010, Bitcoin was in a very, very different place than it is |
| 0:56.8 | today. Indeed, very few of the people hanging out there on that Bitcoin talk forum, even in their |
| 1:02.4 | wildest imagination, would have thought that Bitcoin would have gotten as far as it has, as fast as |
| 1:08.0 | it has. The focus then was on normal issues for a two-year-old project trying |
| 1:13.3 | to figure out how it was going to continue to grow. A lot of today's episode is influenced by |
| 1:19.2 | Pete Rizzo's amazing piece in Bitcoin magazine last year at this time, looking at this from a |
| 1:25.5 | 10-year perspective. That piece starts. They suspected that he was |
| 1:30.0 | British, that he was Yakuza, that he laundered money. They wondered if he was a woman, laid claim just in |
| 1:35.6 | case, and joked about faking him. They kept contingencies for if he proved crazy, eyed for shifts in his |
| 1:41.7 | sleep, debated why he spoke and didn't speak, and sent him |
| 1:44.7 | eager patches signed with pretty pleas. To be sure, by the waning days of 2010, Satoshi |
| 1:50.2 | Nakamoto was still acknowledged for inventing Bitcoin and was respected for growing the world's |
| 1:54.4 | first decentralized digital currency into a $1 million market. But his frustrations with his |
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