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Bitcoin Day
"🎶 Oh Bitcoin as you're going into the old Blockchain
Oh Bitcoin I know you're going to reign, gonna reign
Till everybody knows, everybody knows,
till everybody knows your name"
~ Ode to Satoshi, John Barrett, 2014
"There's digital gold in them thar blockchains!" How quickly things change. Today's modern day "gold rush" is in a full frenzied swing, led by the best known cryptocurrency, Bitcoin (₿). This decentralized digital currency currently exists without a central bank or single administrator and can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries. Its murky origins are shrouded in mystery and speculation regarding whether its inevitable utility and intended use has been authored and steered by the good guys or the bad guys, the white hats or black hats. The domain name "bitcoin.org" was registered on 18 August 2008. Then on 31 October 2008, a link to a paper authored by the suspected pseudonym Satoshi Nakamoto titled "Bitcoin: A Peer-to-Peer Electronic Cash System" was posted to a cryptography mailing list. Bitcoin software was released as open-source code in January 2009 with the genesis block created on January 3rd. Individual miners with a single computer were able to collect a significant amount of coins which were originally valued at US$0.0008, climbing to US$0.08 in one month. Today most mining is done by major enterprises with huge warehouses of mining engines. There are 21 million in existence, of which 19,144,112 are in circulation, leaving just under 2 million to be mined. Bitcoins are bought and sold every day and are an accepted means of exchange now in many countries. As of today, one bitcoin trades for approximately $45,000 USD! 💰💰💰
This tartan designed by Steven Patrick Sim was created in recognition of the 21st century cryptocurrency revolution, and specifically paying tribute to the first decentralised digital currency - Bitcoin. Referred to as pure ‘Digital Gold’, the creation of Bitcoin and secure blockchain technology (which makes encrypted digital currency possible) is said to have world-changing implications through the emergence of a single global currency.
Launched mysteriously in 2009 by an anonymous individual (or group), Bitcoin was released into the public domain on Sourceforge, the web-based service for open source developers.
Designed to reflect the colours of pure gold, the geometry and thread-count within the Digital Gold tartan are created to reference both the limited number of 21 million bitcoins, as well as the timestamp of the genesis date (the creation of bitcoin, and mining of the first primordial block) on 3rd January 2009.
For more on the mysterious origins of Bitcoin, click the coins!