Satoshi Nakamoto chose April 5, 1975 as the public date of his birthday, which may be associated with two historical events: the decree of Roosevelt of April 5, 1933 on the confiscation of gold from the population, as a result of the banking crisis of the 1930s, and the first auction for the sale of confiscated gold on December 31, 1975. The choice of such dates shows how bitcoin differs from Fiat money, and how It can help prevent the catastrophic consequences of the collapse of the economic systems of the last century.
5 April 1933 a decree was issued by the then US President Roosevelt to confiscate gold from the citizens. Refusal to provide gold reserves was punishable by imprisonment, and the court worked tirelessly on cases of concealment of gold from the Federal Reserve.
This measure was dictated by the aftermath of the banking crisis of the 1930’s, when banks printed too much fake money, and real values had to return to the system to maintain balance, and hence the economy. During the first 10 months of 1930, 744 banks collapsed, and in just the 30s, more than 9,000 banks collapsed.
The disaster, later dubbed the “great depression” and one of the causes of world war II, was caused by the then-applicable cheque system. In 20-ies of the false reserves in the accounting records led to the collapse of the securities market that caused the panic associated with a lack of confidence in the financial viability of banks, and led to a General crisis of the banking system.
Some argue that the choice of this date Satoshi Nakamoto wanted to emphasize that to confiscate cryptocurrencies is much more difficult to confiscate gold in 1933, but perhaps he also stressed his choice of the fragility of the banking system, which was the cause of dramatic consequences in the 30s, and in 2008, when taxpayers opyatvyuzhdeny were forced to invest their own funds to keep it afloat.
Satoshi Nakamoto, providing the world with an alternative to the banking system, shows that the previous system was prone to collapse, and therefore led to the collapse of the economy, due to the operation of counterfeit money.
As the year of his birth Satoshi Nakamoto chose 1975, when on December 31, the us Treasury held the first auction for the sale of gold confiscated as a result of the decree of Roosevelt.
Select the date of the auction sale of gold 1975, the year may mean that Nakamoto stressed that the government gets the profit from the confiscation of property. Or maybe it points to a link between Fiat, banks, and the payment system. Since the banks no longer needed gold, as did not need a payment system, part of the gold reserves were sold out, as the gold itself lost relevance as a means of exchange and had no backbone role in the movement of money.