Satoshi Nakamoto contacted this man before releasing Bitcoin
He was already trying to reinvent money 10 years earlier
- Wei Dai
- computer scientist and cryptographer
- early cypherpunk
- creator of Crypto++
- proposes b-money in 1998
- What was b-money?
anonymous distributed electronic cash
identities represented by public keys
sounds familiar
1998
- Dai publishes b-money
- proposes money without banks or governments
- introduces two different protocols
- one uses a distributed ledger maintained by participants
- another uses servers with collateral
At the end b-money is never actually launched
2008:
- Satoshi is developing Bitcoin
- contacts Adam Back, creator of Hashcash
- Adam notices similarities with b-money
- tells Satoshi about Wei Dai
August 22, 2008
Satoshi emails Wei Dai
he tells him:
โIโm getting ready to release a paper that expands on your ideas into a complete working system.โ
Satoshi asks when b-money was published so he can properly cite it
at this point Bitcoinโs paper is still called
โElectronic Cash Without a Trusted Third Partyโ
October 2008
- Bitcoin whitepaper is released
- b-money becomes reference #
1#
- Wei Dai is permanently connected to Bitcoin history
January 2009
Bitcoin goes live but Dai barely sees it, he later says he was focused on AI safety
and didnโt realize how important Satoshiโs project would become
September 2026
Wei Dai suddenly starts talking about b-money again
explains the โbโ came from โbroadcastโ and โburnโ and talks about Satoshi citing his work
But insane how 30 years ago Wei Dai described decentralized digital money
way before Bitcoin