16 Years On: Satoshi's Quote That Shaped the Crypto Landscape
The cryptocurrency market is celebrating a significant milestone today, the 16th anniversary of Satoshi Nakamoto's most famous quote, directed at skeptics. On July 29, 2010, Satoshi participated in a discussion on the Bitcointalk forum in a thread titled 'Scalability and transaction rate.' A user argued that Bitcoin was too slow for real-life use, citing its 10-minute confirmation wait time.
Satoshi explained how the network could process fast payments, within 10 seconds or less, through the integration of third-party processors. However, realizing his opponent remained unconvinced and rooted in traditional banking thinking, Satoshi ended the debate with a now-iconic phrase: 'If you don't believe me or don't get it, I don't have time to try to convince you, sorry.'
In 2010, when Satoshi addressed these words to skeptics, Bitcoin was valued at around $0.07, and the entire network was supported by only a few hundred enthusiasts. The creator had to personally defend the viability of his code in forum comments.