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We’ve got to get rid of the middleman and go peer-to-peer – Satashoi Nakamoto
Bitcoiners built on the work of accountants and cypherpunks to create a system without a middleman. Accountants supplied double-entry bookkeeping, where every debit matches a credit and totals balance. Cypherpunks provided encryption and digital signatures to secure each entry. Bitcoiners combined these into a public ledger where every transaction is signed, time-stamped, and linked to the previous one, making changes impossible without redoing the entire chain.
This system removes the need for trust in a single party. The result is a global audit trail that proves funds exist, transfers are valid, and no double-spending occurs, all without revealing user identities.