📃 The launch of bitcoin during the 2008 financial crisis was not accidental. Satoshi observed approximately the same processes that we have the opportunity to observe now, in the crisis of 2020. Let's trace the sequence of those events.
January - July: The Fed tries to stop the housing crisis and rescues Bear Sterns. Treasury Secretary Paulson also explains the need to help out Fannie Mae and Freddie Mac, two agencies that held 50% of $ 12 trillion. in American mortgages.
August 13: Satoshi registers with bitcoin.org.
September 15: Lehman Brothers announces largest bankruptcy in US history ($ 600 billion).
September 17: Investors withdrew a record $ 144 billion from their accounts. Over a typical week, only about $ 7 billion was withdrawn.
October 13: Paulson talks to 9 bank leaders. Total salvage package ~ $ 2.25 trillion.
October 21: The Fed provides $ 540 billion to save financial markets.
October 31: Satoshi publishes Bitcoin's White Paper.
As a result of the 2008 crisis, a financial world based on trust was undermined. Bitcoin was launched during an emergency, and Satoshi planted the seeds at the right time. The world needed an alternative to banks. Now everything is much worse, the size of the "aid" is many times larger, and the situation is much more serious. Everyone needs bitcoin as never before, I’m not afraid to even say how a haven.
January - July: The Fed tries to stop the housing crisis and rescues Bear Sterns. Treasury Secretary Paulson also explains the need to help out Fannie Mae and Freddie Mac, two agencies that held 50% of $ 12 trillion. in American mortgages.
August 13: Satoshi registers with bitcoin.org.
September 15: Lehman Brothers announces largest bankruptcy in US history ($ 600 billion).
September 17: Investors withdrew a record $ 144 billion from their accounts. Over a typical week, only about $ 7 billion was withdrawn.
October 13: Paulson talks to 9 bank leaders. Total salvage package ~ $ 2.25 trillion.
October 21: The Fed provides $ 540 billion to save financial markets.
October 31: Satoshi publishes Bitcoin's White Paper.
As a result of the 2008 crisis, a financial world based on trust was undermined. Bitcoin was launched during an emergency, and Satoshi planted the seeds at the right time. The world needed an alternative to banks. Now everything is much worse, the size of the "aid" is many times larger, and the situation is much more serious. Everyone needs bitcoin as never before, I’m not afraid to even say how a haven.