Behind the dream of decentralization lies a hidden capital network.
I still remember the excitement of my first encounter with Bitcoin, a feeling as if I was participating in a secret revolution against the traditional financial system. But fifteen years have passed, and more and more facts indicate that the story of this revolution is far more complex than we imagined.
Today, with the U.S. Department of Justice releasing the Epstein case investigation documents, a truth that has been buried for years has come to light: this notorious financial broker unexpectedly played a role in the early ecosystem of Bitcoin.
Voldemort's secret visits
Emails show that Epstein secretly visited MIT nine times, code-named aptly - 'Voldemort'. Between 2013 and 2017, he quietly entered and exited this world-class institution, while most of the school's leadership was unaware of it.
As a major benefactor of the MIT Media Lab, Epstein donated about $850,000 to the school. However, the actual flow of these funds is little known: a significant portion flowed into the 'Digital Currency Initiative' (DCI) project within the media lab.
This project hired Bitcoin core developers like Gavin Andresen and Wladimir van der Laan at the critical moment of the Bitcoin Foundation's collapse in 2015. In other words, when the decentralized dream created by Satoshi Nakamoto faced a funding crisis, it was Epstein's money that helped it through the difficulties.
Bitcoin salon in the Manhattan mansion
More surprisingly, Epstein's Manhattan mansion was once a salon for early cryptocurrency discussions. Email records show that he hosted a Bitcoin discussion there, with attendees including Brock Pierce (an early Bitcoin investor and co-founder of Tether) and former U.S. Treasury Secretary Larry Summers.
Imagine this scene: In a luxurious yet dark living room, a group of financial and tech pioneers discusses a new technology that should be 'decentralized' and 'anti-establishment'. Summers, while optimistic about Bitcoin's opportunities, worried about the reputational risks of getting involved - which now seems quite prescient.
Epstein's interest was not limited to the technical level. In 2018, he even sought tax advice from Steve Bannon regarding cryptocurrency, including how to handle tokens and evade campaign finance rules. This indicates that his interest in Bitcoin went far beyond mere technical curiosity.
MIT Digital Currency Initiative: Angel or Devil?
MIT's Digital Currency Initiative (DCI) claims its goal is to 'provide long-term stable funding for Bitcoin core developers', which was hailed as a blessing in the cryptocurrency world at the time. When the Bitcoin Foundation collapsed and core developers had nowhere to turn, DCI provided a sanctuary.
But today, this seemingly altruistic action reveals a complex funding chain. Epstein's donations were intentionally anonymized, and the director of the media lab, Joi Ito, even resigned after the scandal broke in 2019.
Three MIT vice presidents - Jeffrey Newton, Gregory Morgan, and Israel Ruiz - approved these donations on the condition that they must remain anonymous and not be publicly promoted. But Epstein clearly did not follow the rules; he continually used these research donations to clean up his image.
The shadow of the decentralized myth
As an analyst who has navigated the crypto world for many years, I must admit that these findings have shaken some of my beliefs. Bitcoin has long been regarded as a 'purely grassroots' decentralized revolution, but the reality is that it still cannot escape the influence of traditional power and capital during its development.
This makes me think of a deeper question: Is there a truly 'pure' technological revolution? Is any innovation that requires resource investment inevitably going to intersect with existing power structures?
But importantly, we must distinguish between 'influencing development' and 'controlling the protocol'. Although Epstein's funding indirectly supported Bitcoin's core development, there is no evidence that he had any influence over the Bitcoin protocol itself. The core code of Bitcoin is still maintained by a global developer community, and its decentralized nature has not changed.
The symbiosis of power and ideals
Throughout history, many initially revolutionary technologies have ultimately been co-opted by existing systems. Will Bitcoin follow the same path? Or can it find a balance between ideals and reality?
The Epstein case may not teach us that 'Bitcoin has been tainted', but rather that any sufficiently powerful technology will attract attention from various forces, whether good or bad. Some of these forces may be motivated by sincere beliefs, while others may be driven by opportunistic calculations.
In 2015, when Bitcoin core developers accepted funding from MIT DCI, they may not have been aware of the ultimate source of the funds. To them, it was just a research opportunity provided by a well-known institution. The purity of technology contrasts sharply with the complexity of funding here.
Insights for the future
In hindsight, the development history of Bitcoin is much more complex than we imagined. It encompasses both Satoshi Nakamoto's ideals of decentralization and a mix of various interests from the real world. True decentralization may not lie in completely shedding any external influence but in ensuring that no single entity can control the entire system.
As more insider information continues to emerge, we must keep a clear mind: do not be blindly idealistic, nor cynic due to the complexity of reality. The value of Bitcoin comes not only from its 'pure origins' but also from the problems it actually solves.
Perhaps this is the rite of passage that all technological revolutions must experience - proving their resilience in the collision of ideals and reality.
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