Last night, Twitter CEO Jack Dorsey tweeted the phrase ‘running Bitcoin,’ as a nod to computer scientist Hal Finney and to reveal to the world that he runs. a full node.
Here’s what this means for the very first cryptocurrency, along with a look at how it all started and where Bitcoin is headed.
How it all started: Hal Finney tweets that he “uses Bitcoin”
Few realized at the time how important a tweet was from Hal Finney dated January 10, 2009 would eventually be. The tweet with only the phrase “Running Bitcoin” was one of the first the internet had ever heard of the cryptocurrency.
The tweet arrived just seven days later the Genesis block, and Finney herself was the first to ever be on the receiving end of a BTC transaction.
What Finney was referring to was the fact that he was running a Bitcoin node. According to Bitcoin.orgis a full node ‘a program that fully validates transactions and blocks’.
Since Bitcoin is not controlled by a central authority, volunteers like Finney use computing power to keep the network and code running.
Finney is part of a handful of early cryptocurrency supporters thought to be possibly Satoshi. Finney has since passed away, but the legacy he and his tweet left have been critical to the adoption of the emerging technology.
How it started versus how its going, crypto-version | Source: BTCUSD on TradingView.com
How it goes: The torch has been passed on to today’s tech leaders
Today, the talk of the crypto industry is Twitter CEO Jack Dorsey revealed in a tweet he now also runs Bitcoin. Included in the tweet is a screenshot of the code in action.
But the significance goes well beyond one of the most prominent tech leaders that Bitcoin continues to promote. What represents this more accurately is one passing the torch from one of the asset’s most influential pioneers to the next.
A pioneer is defined as someone who is researching something new. By that definition, Hal Finney is undoubtedly a pioneer in crypto. But Dorsey is a pioneer in her own right.
Dorsey, who also serves as the CEO of Square Inc., helped get started the trend of companies adding BTC to their treasury reserves. Square also sells Bitcoin directly to consumers, among other related financial services.
The head of social media has also verbally defended Bitcoin as the possibly the next global reserve for the internet age and seems keen on it see through that.
Related reading | Here’s how high Bitcoin could go if 2017 repeats
A notable difference between the two iconic tweets is that Dorsey now includes a hashtag with the Bitcoin logo, custom made by a team he leads.
Dorsey does not have to use Bitcoin. He does it because, like Hal, he pushes technology forward in the first place.
Without Finney and his tweet, people like Dorsey might never have heard of Bitcoin and all it has to offer the world. Finney’s soapbox was nowhere as big as Dorsey’s – could Dorsey’s ‘ongoing Bitcoin’ tweet ever be nearly as important as Finney’s, or perhaps more so?
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