7 hours ago
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Key Takeaways
- Back reframes BTC as the unit of account – “One Bitcoin is one Bitcoin.”
- Missing Bitcoin’s 10 best trading days annually turns a median 90% gain into a 25% loss.
- Back credits the original 2013 HODL post as statistically correct, not just cultural.
- Back was the very first person contacted by Satoshi Nakamoto via email before the Bitcoin whitepaper.
Speaking at the Proof of Talk conference in Paris, Adam Back, co-founder and CEO of Blockstream and inventor of Hashcash, laid out his framework for surviving Bitcoin’s volatility without panic-selling.
Back’s credibility on this topic is not incidental. In 1997, he invented Hashcash, a proof-of-work system originally designed to combat email spam. He was the very first person contacted by Satoshi Nakamoto via ema...
English (US)