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A Homage to Bitcoin Day

author image @dittoproj

October 31, 2023

15 Years to this day, Satoshi Nakamoto released the Bitcoin Whitepaper to the cryptography mailing list. In this renowned announcement, Bitcoin was unveiled to the world for the first time.

Satoshi chose the date intentionally as an easter egg. October 31 marked the appearance of the 95 Theses, a critical and world-altering document that was nailed to the door of the church in Wittenberg, Germany by the monk Martin Luther, who was protesting the abuses of the Roman Catholic Church. Centuries later, it remains as one of the greatest renunciations of centralized power in Western history. This single paper inspired a religious reformation that changed the course of Europe. It led to an open sourcing of theology, as centralized church leadership was challenged as the sole source of authority and information.

Satoshi saw Bitcoin playing the same role for our financial systems, removing the need for trusted third parties, intermediaries, and middlemen. It gave the right to bear your own permissionless financial autonomy, creating the Protestant Reformation in the realm of finance. With the success of the Bitcoin network, the whitepaper is now immortalized as one of the most important documents in human history.

In commemoration of this decade and a half anniversary to the document that birthed this Financial Reformation, I will be deploying my project DittoETH, a decentralized stable asset protocol. Cryptocurrencies have made huge strides in the last fifteen years, but have yet to fulfill the promise of being used for everyday payment needs. Many current forms of stablecoins still require trust in ways that will inevitably breach their duties in serving the interest of people, as their central point of failure jeopardizes any chance of retaining censorship resistance.

DittoETH is an attempt to hold fast to the traditions that Satoshi left behind, leading the way for new modes of exchanging and interacting, while challenging the current forms of power abuse from established institutions and centralized cryptocurrencies. Decentralization and censorship resistance: these are essential common tenets that bind the network of immutable money.

I'd like to mark this historic day with the release of my labor of love to the crypto community.