At first, everyone thought Bitcoin would be a joke, but in the end, Bitcoin made the mockers themselves a joke.

"#比特币 was less than $0.01 at the beginning of its creation, and approached $20,000 before plummeting 80%. The price difference over the past few years has made many people rich overnight, and also made many people lose everything. Only those who have experienced it can deeply understand the bloody storm during this period."

Back to the end of World War II in 1944, the United States relied on its war advantages to become the dominant force in the world order. In terms of financial hegemony, it established the Bretton Woods system with 44 countries that were preparing to establish the United Nations. It established the central position of the US dollar in the post-war international monetary system.

The US dollar became the "equivalent" of gold. The United States assumed the obligation to exchange gold at US$35 per ounce, and the US dollar played the role of world currency.

This is the "US dollar" that people have long been familiar with.

However, with the rapid economic development and limited gold production, the United States' gold reserves are insufficient to bring more monetary growth to the modern financial system.

So the peg between the US dollar and gold finally ended in 1971, and the international currency exchange rate changed from a fixed exchange rate to a floating exchange rate.

However, since the world currency status of the US dollar has long been an international consensus, the hegemony of the US dollar remains unshakable. But this also brought a big problem. Because the US dollar was freed from the constraints of the gold standard, the United States began to print money crazily.

This behavior has greatly damaged the interests of other countries, spreading the pressure of inflation to all countries holding US dollars, making other countries miserable. This is obviously unfair. If other countries increase the issuance of currency, inflation will soon come. A famous case is the currency of Zimbabwe. To what extent has it depreciated?

40 trillion Zimbabwean dollars can be exchanged for 1 RMB, which is not even as valuable as the paper on which the money is printed.

The resulting risks also broke out in 2008

In 2008, the bankruptcy of Lehman Brothers in the United States and the subprime mortgage crisis triggered a global financial tsunami, swallowing up the wealth and future of countless people. In January 2008 alone, the global stock market lost $5.2 trillion in market value, and countless investors lost all their money.

People began to have doubts: Even the world's most mature financial system could collapse in an instant. Does the monetary system represented by the US dollar have its irreparable limitations?

On the last day of October 2008, a mysterious person named Satoshi Nakamoto published the Bitcoin white paper for the first time. In the white paper, Satoshi Nakamoto described Bitcoin as: an electronic cash system that is completely implemented through peer-to-peer technology, which enables online payments to be initiated and paid directly from one party to another without going through any financial institutions in the middle.

At that time, he might not have realized that he had opened Pandora's box and ushered in a new era.

Ten years later, Satoshi Nakamoto is still as unknown as he was ten years ago, but the blockchain hurricane he caused by hitting the Internet is already everywhere.

Then on January 3, 2009, the first Bitcoin Genesis blockchain with serial number 0 was connected to form a chain, marking the birth of Bitcoin.

Satoshi Nakamoto mined the first 50 bitcoins on a small server in Helsinki, Finland.

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