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But, Gavin wrote on the

forums, “I want the Bitcoin

project to succeed, and I think

it is more likely to be a

success if people can get a

handful of coins to try it out.

It can be frustrating to wait

until your node generates

some coins (and that will get

more

frustrating

in

the

future), and buying Bitcoins

is still a little bit clunky.”

Gavin, a trim forty-four-

year-old with the anodyne

looks of a suburban soccer

dad, had time for the project

because he, his two children,

and his wife—a geology

professor—had

recently

returned from his wife’s

sabbatical in Australia. Gavin

had quit his job as a

researcher at the University

of Massachusetts before they

had gone to Australia and he

was now trying to figure out

what to do next from his

home office, just off the

family mudroom.

When he first read about

Bitcoin, he had immediately

ferreted out Satoshi’s original

Bitcoin article, now known as

the Bitcoin white paper, as

well as the Bitcoin forum, all

of which he read in a few

hours. The concept appealed

to him, in part, for the same

political reasons that drew in

Martti. After growing up in a

liberal West Coast household,

Gavin had moved toward

libertarianism during his first

programming job, swayed by

a persistent coworker. These

politics gave him a natural

interest in a free-market

currency like Bitcoin.

But politics didn’t occupy

the center of Gavin’s life and,

unlike many libertarians, he

didn’t particularly think the

gold standard was a great

idea. For Gavin, one of the

primary attractions of this

technology

was

the

conceptual elegance of the

decentralized network and the

open source software, which

was updated and maintained

by all of its users instead of

one

author.

Gavin’s

programming career thus far

had

given

him

an

appreciation for decentralized

systems that had nothing to

do with any suspicion of the

government

or

corporate

America. For Gavin, the

power

of

decentralized

technology came from the

more workaday benefits of

software and networks that

didn’t rely on a single person

or company to keep them

running.

Decentralized

systems

like

the

Internet

and

Wikipedia could harness the

expertise of all their users,

unlike the AOL network or

Encyclopaedia

Britannica.

Decision making could take

longer,

but

the

ultimate

decisions would incorporate

more

information.

The

participants in decentralized

networks

also

had

an

incentive to help keep the

system up and running. If the

original author was away on

vacation or asleep when a

crisis hit, other users could

chip in. As it was frequently

put, systems were stronger

when there was no single

point

of

failure.

These

arguments were, to some

degree,

technological

analogues of the political

arguments that libertarians

made for taking power away

from central governments:

political power worked better

when it was in the hands of

lots of people rather than a

single political authority. But

the advocates for open source

software tended to put things

in less ideological terms.

Decentralized technology

was a rather natural fit for

Gavin, who had little in the

way of an ego. Despite going

to Princeton, he had been

happy serving as something

of a journeyman programmer,

working on 3-D graphics at

one

point,

and

Internet

telephony

software

at

another. For Gavin, the jobs

had always been about what

he found interesting, not what

promised the most money or

success.

To start participating in

the Bitcoin project, Gavin

quickly began e-mailing with

Satoshi to suggest his own

improvements to the code

and, in short order, became

the first person other than

Satoshi or Martti to officially

make a change to the Bitcoin

code.

More

valuable

than

Gavin’s programming chops

were

his

goodwill

and

integrity, both of which

Bitcoin desperately needed at

this point to win the trust of

new users, given that Satoshi

remained a shadowy figure.

Satoshi

had,

of

course,

designed his software to be

open source so that users

wouldn’t have to trust him.

But people were not showing

much willingness to entrust

real money to a network that

was run by a bunch of

anonymous malcontents.

Gavin attached a real and

trustworthy

face

to

the

technology. He was one of

the first people on the forum

to use his real identity, taking

the

screen

name

gavinandresen,

and

he

included, on the forum, a

small picture of himself in a

hiking backpack, giving a

slightly dorky but entirely

disarming smile. He served

on the forums as a sort of

good-natured

high

school

teacher, answering, in plain

terms, questions that came

up. He would also mediate in

the

political

fights

that

occasionally

broke

out

between those early users

with strident political beliefs.

Gavin was used to this sort of

thing.

In

Amherst,

Massachusetts, he served on

the

240-member

Town

Committee,

a

grassroots

deliberative body that he had

been elected to a number of

times. Amherst, a college

town, was famously liberal

and so Gavin had plenty of

disagreements over matters of

principle. But he had learned

to avoid fights and find

compromises—something

that was about to prove

critical

to

the

fledgling

Bitcoin community.

HEADPHONES ON AND an

oversize can of MadCroc

energy drink by his side,

Martti sat at his dorm room

desk, giddy. Slashdot, a go-to

news site for computer geeks

the world over, was going to

post an article about Martti’s

pet project. Bitcoin, largely

ignored over the last year,

was on the verge of receiving

global attention.

The campaign to get

Bitcoin real press coverage

had begun a few weeks

earlier, not long after Martti

finished

his

three-month

internship at Siemens. A new

version of Bitcoin, version