clear water droplet

Reversing Potential Loss Through the Ripple Effect

The story is told of a little boy and his older brother playing by the lakeside. Neither of the boys could swim. The younger brother was playing with his toy boat just near the shore when suddenly, the windswept it away from his hand, and it quickly drifted beyond his reach, where he could not retrieve it.

The older brother then had an idea. He picked up a few rocks and tossed them high in the air so that they were landing in the water just beyond the boat. The younger brother began shouting at his brother,” What are you doing? Why are you are trying to sink my boat”? The older brother said nothing and continued tossing the rocks beyond the toy boat.

Then suddenly, to the little boy’s surprise, his boat reversed directions and began coming back towards him to shore! What happened? The older brother had created ripple effects on the water, which stopped the drift and redirected the little toy boat—bringing it back to where it belonged, right into his little brother’s hands. Ripple effects can create happy endings to our stories too.


Many people in history already have, in a sense, created quite a ripple effect on humanity. The unknown Satoshi Nakamoto is one of those people. Nobody knows who he is or even if his name might represent a small group of people. But Satoshi has created a true ripple effect that is still changing our world!


Satoshi’s White Paper can be found on the internet by doing a search. It is only nine pages in length. It is definitely worth the read if you want to know the beginnings of Bitcoin, the blockchain, and essentially where the majority of cryptos have found their beginnings. He aimed to introduce a decentralized and fair money system that the big governments and banks would not be able to manipulate or control. In a sense, he wanted to create “people’s money.”

He began working on Bitcoin back in 2007. On October 31, 2008, The Bitcoin White Paper, was released from a mailing list at metzdowd.com. This quickly became the foundational paper for what Bitcoin is today.

January 3, 2009: The first Blockchain block was mined. According to data, the very first block that was mined had 50 Bitcoins in it.

January 9, 2009: The first Bitcoin software was rolled out called, “Version 0.1”. This had open-source code, so everyone would be able to download the software. By downloading that software, they could become the ledger keepers and the miners.


May 22, 2010: This was that the infamous “Pizza Day” that most people who know something anything about Bitcoin has probably heard of it. A man named Laszlo Hanyeczs, a computer programmer from Florida, offered to pay 10,000 of his Bitcoins for a pizza if anyone had it delivered to him. Someone on the forum, “bitcointalk.org,” took Laszlo up on his offer and sent him two pizzas. And the rest was history!

July 17, 2010: Jed McCaleb converted a card trading exchange into an exchange for trading Bitcoins. This became what was known as the famous “Mt. Gox Exchange “. The Mt. Gox Exchange was essentially the first and the largest exchange of its kind for Bitcoin. Eventually, it ran into many problems and failed. It was closed in February of 2014.


February 9, 2011: At that time, the price of 1 Bitcoin on the Mt. GOX exchange was worth 1 USD. June of 2011: The Silk Road trading site was born. The website was used as a black market to buy and sell drugs and other illegal things with Bitcoin. At that time, 1 Bitcoin was worth about USD 8.50. The Silk Road Website was eventually shut down by the US government not long after it began.


June of 2011: The well-known organization Wikileaks began accepting Bitcoin for donations. November 28, 2012: The first Bitcoin halving reward day happened. The block reward that the miners would receive for mining went from 50 BTC to 25 BTC. There has now been a total of 4 halving days, which have occurred every four years in Bitcoin history. The current miner’s reward is 6.25 BTC per block. August 6, 2013: Bitcoin was put to the test in court, and a Texas judge ruled in favor of Bitcoin being labeled as a currency. This was followed by an August 2013 ruling in Germany that Bitcoin could be used as “private money.”


February 28, 2014: The Mt. Gox exchange filed for bankruptcy, allowing Bitfinex to come onto the scene. Bitfinex became the biggest Bitcoin exchange in the world at that time. From then on, the Ripple Effect has just continued, on, and on. Our world soon saw the creation of online digital wallets, hardware wallets, paper wallets, cell phone apps, Blockchain innovations, forks, halvings, altcoins, tokens, ICO’s, smart contracts, trading websites, security devices, and everything else in between


December 18, 2017, the price of 1 Bitcoin reached an all-time high of USD 19,498.63. Who could have ever imagined that from those first days of the 10,000 Bitcoin pizzas? As of this posting today, the daily trading volume of Bitcoin is close to 19 Billion USD, with a supply of 18,432,681 Bitcoins circulating. Look at how far it has come!

Satoshi Yakamoto’s ripple effect is still in effect, and in my view, will change the financial world forever! He hoped to solve the real problem of centralized big governmental control over the world’s banking and financial systems. His 9 page White Paper was just like one of those little
rocks that the big brother threw into the lake to stir up the water, in hopes
to solve this problem.

When Satoshi’s rock first hit the water, there may not have been a big splash. There may not have been much sound. There may not have been a few people to see it at the time, but what an impact those little waves have made! Like the toy boat, the trajectory of our wealth has been changed. The prospects of our secure financial futures are coming back into our hands because we have cast our stones beyond the failed conventional ideas of the government-controlled banking systems, and have reversed our forecast forever.

About the author

Jeff is a Compumatrix member and contributor who truly enjoys researching and learning about all things crypto. He believes that digital assets are the future of money.

Comments

  1. I enjoyed reading through the history reminder, Jeff. Thank you! I believe cryptocurrency, no matter who Satoshi is or group he may represent, has changed our lives forever. It is a history-changing event that those living today could take part in to change their lives. Many will see the opportunity; some won’t. And that is fine because it won’t change the fact that it is one of those life events we seldom are privileged to see and get involved.

  2. Jeff you are an excellent story teller, and what better way to learn than through stories for which I thank you. Learned many things again with this blog especially interesting the pizza story beginning. Whoever Satoshi is or if a group of people, bitcoin will revolutionize the world financial system for the better. We are all blessed to have Compumatrix to steer us through the system safely and legally.

  3. what a great ride through crypto history — and how simple sometimes or maybe even most times Ripple effects are when we take time to look back and research and see how so many little events make a total change in our day to days or maybe it just was as simple as turning a toy boat back towards shore ?? just great stuff and thought provoking definitely — thank you

  4. I always love the story of the ripples and the boat. The correlation that you used is perfect for our business. This is a great read of the evolution within the crypto world. Now we get to write our own evolution because we are a unique component of this evolution within the overall movement.

  5. Wow thanks for this blog. I have always heard about the ripple effect but never really knew the story. That is pretty cool. There are so many technologies out there that can cater to this same type of benefit for the good of humanity. Decentralization for one looks to be changing the mindset of numerous big corporations. I believe defi is also around the corner and quite close to mainstream adoption.

  6. This is a wonderful article and an excellent story for learning about Bitcoin. I did not know how Bitcoin began, and I am very grateful for the instruction. I am now most interested and will be looking to find Satoshi’s White Paper, for I know that understanding follows knowledge. I have a family member that is very skeptical of crypto. For years no matter what I say he always follows with “when you make money, let me know.” Then one day he decided to invest a little, then another day a little bit more. Yesterday he came around again, still skeptical but wanting to be part of this future. Like Satoshi, he wants to be part of a fair money system. Like Jeff, I also believe that digital assets are the future of money.

  7. Jeff, this is a very enlightening read. I had heard the Santoshi story about creating the bitcoin. The way you explain it opens up more understanding. As I stated in another post explaining one aspect at a time, about the bitcoin revolution and the technology connected to it, brings explicit knowledge and confidence. The ripple effect is encouraging. I think of the ripple effect Compumatrix may cause, its one-stop shopping and its ecosystem will change the crypto world. Exciting times ahead as we watch the ripples, and ripples, and ripples.

  8. I always enjoy reading the origins of an idea, Satoshi Nakamoto either a person or a group did not act alone but thru researches of other collaborators, the White paper was written. He (they) not only gave the best thing (my opinion) since the Internet, that’s why some prefer it to The Internet of money. Also by staying anonymous and being coded in open source it was clear that it was not to be claimed by anyone else.

  9. I never realized bitcoin went through so many channels, very good read and I did read the white paper as you suggested, that really opens your eyes to understand the system. He created this to stop double spending besides many other factors peer to peer spending ect…definitely a discovery in history that will change the world forever.

  10. the ripple effect is taking place all over this blog area also — I started reading different blogs a month or so ago and the ripple effect of reading and re-reading and the understanding that has been achieved is very apparent and now when I read this or that on Bitcoin or Crypto world or even the cyber world my comprehension is so much quicker and I can sense a quiet calm — where before it was more anxiety when I tried to understand — love this ripple —

  11. The mysterious gentleman, Mr. Satoshi Nakamoto certainly created a big stir by introducing Bitcoin, and the ripple effect has been created , bringing forth newer opportunities in the digital world.
    Jeff’s article is very interesting, enjoyable and informative.
    As Gail rightly said – not everyone will see this opportunity . But, those who do see it and do get involved will certainly benefit from this new era that has dawned and progressing as time goes by.
    A bright future lies ahead of us..

  12. I look back over the last 15 or so years and just continue to see many ripple effects taking place and to now realize just how much Bitcoin and heck even the whole Cyber Crypto world has evolved and how many ripple effects have taken place — i do not even have a clue on the numbers involved but I see now more each day I read here and research — the ripple effect taking place in so many ways and almost a constant everyday ??

  13. It is interesting to think how we are part of the ripple effect through being members of Compumatrix. The fact that little comments like the ones we are writing contribute to something way bigger in the Compumatrix company and then the Compumatrix company contributes to something way bigger than itself too is just incredible. I guess it is that saying that every action has a reaction. The actions people have done in the cryptocurrency world created reactions that made the cryptocurrency world more well-known and stronger as a means of transactions. Now it is our job to continue advancing the cryptocurrency world through the ripple effect by doing our little actions that contribute to the bigger picture. Happy commenting and posting!

  14. Yes Raju. I so enjoy learning all I can about the beginnings of Bitcoin and all that led to its success. Its so interesting to think that Satoshi could still be alive( If he or she is a person) and is still watching this whole thing unfold. I know that there has been many who claimed to be that guy but most of it is all unsubstantiated. But what a ripple he/she has made on the world huh ?!

  15. love the challenges of finding out truth and doing research in the history parts of every day — reading this and searching that and also the postings and replies here in this blog area to me are not little bits — when you look at the effort and time utilized to be a part of this and the future help they will be — it is fascinating and actually to me very humble to just a be a small part — so much great info and research here — thank you

  16. I like what you said Janis about Compumatrix steering us through this system safely and legally. How many times we have now heard about exchanges, and people dealing in the crypto world that have not been “up and up” about their dealings with money. Loving money is a root of all evil, and it can sure find it’s way into the crypto world just like the fiat world. Thanks to David and our BOD who tirelessly do things right and upright ! We are all on the correct side of this.

  17. as life plays out — so many parts when you look back have been that “ripple” effect or at least parts of it — there is so many things that are intertwined into Success in any business but Patience and perseverance are two keys and when you watch the drop of water cause that ripple effect it is quite the observation — 2+2=4

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