You cannot truly understand the purpose of Bitcoin without understanding the 2008 financial crisis that birthed it.
In 2008, the global banking system collapsed. Massive banks had gambled recklessly with people’s mortgages and savings, and they lost everything.
But instead of letting them fail, governments around the world bailed them out. They printed trillions of dollars to save the rich bankers, while normal families lost their homes and jobs.
Satoshi Nakamoto was watching this injustice.
He released the Bitcoin Whitepaper on October 31, 2008—Halloween—right in the middle of the chaos. He designed a system where this could never happen again.
In the very first block of Bitcoin (the Genesis Block), he hid a secret text message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
This headline from a British newspaper proves that the 2008 financial crisis was the direct motivation for Bitcoin. It was built as an escape hatch from a corrupt system that privatizes gains for the rich and socializes losses for the poor.