PA Illustration | Understanding the Birth of Bitcoin and the 50 Year History of Cryptopunk Development with One Picture This image should be remembered from:@ PANewsCN Many people believe that the birth of Bitcoin was a new thing created overnight by Satoshi Nakamoto due to the financial crisis, In fact, if you have read the white paper on Bitcoin and Satoshi Nakamoto's early forum posts, you will know that Bitcoin actually has years of technical and conceptual accumulation in the cypherpunk movement. From cryptography to decentralized consensus, core concepts such as public key identity and proof of work have laid its foundation. Satoshi Nakamoto's white paper is not only the starting point of electronic cash, but also continues the pursuit of privacy and freedom. The birth of Bitcoin is not accidental, but the result of decades of technological and conceptual accumulation in the cypherpunk movement. From the foundation of cryptography to the concept of anonymous electronic cash, and then to the practice of decentralized consensus mechanisms, a series of key breakthroughs paved the way for Bitcoin. Core concepts such as public key identity, Byzantine fault tolerance, proof of work, and smart contracts have shaped the foundation of a decentralized financial system. Satoshi Nakamoto's Bitcoin white paper not only marks the birth of peer-to-peer electronic cash, but also continues the pursuit of privacy, freedom, and censorship resistance by crypto punks.