Summary
TLDR: Emails from Satoshi Nakamoto reveal that capping Bitcoin’s supply at 21 million was a deliberate choice to align pricing with traditional currencies. Nakamoto also discussed Bitcoin as an investment, energy consumption, and anonymity concerns. The emails provide valuable insights into Bitcoin’s early development and foundational principles.
Key Points
1. Emails from Satoshi Nakamoto, the pseudonymous Bitcoin developer, were revealed by Martii Malmi, an early contributor to Bitcoin, shedding light on its origins and Nakamoto’s decision-making process.
2. The decision to cap Bitcoin’s supply at 21 million tokens was a deliberate choice by Nakamoto, based on an “educated guess” to align pricing dynamics with established currencies and ensure scalability for a global currency system.
3. The emails also discuss Bitcoin as an investment, concerns about energy consumption, and anonymity, with Nakamoto cautioning against characterizing it solely as an investment and highlighting its potential energy efficiency compared to traditional banking operations.