Redditors ‘unearth’ Bitcoin’s Satoshi Nakamoto, he says I don’t want the attention

Opinion: The bear market of 2018 gets more aggressive and painful as the year comes to a bitter end. Bitcoin has suffered quite an excruciating fall ever since it reached an all-time high back in December 2017.
The market cap of Bitcoin has slumped from a massive $336 billion to $60 billion, which is a massive decrease of ~82%. The altcoins have followed Bitcoin and most of them have also declined by 80% since their all-time highs.
Apart from the bear market, the US Securities and Exchange Commission [SEC] has tightened the noose around ICOs, causing a sharp decline in fraudulent ICOs and exchanges.
Many enthusiasts had also pinned down the hash wars between Roger Ver and Craig S Wright that ensued this year to have played a crucial role in Bitcoin breaking the $6,500 support and collapsing as low as $3,200.
Despite the bear market, crypto enthusiasts find something to look forward to, something to hope for. In their mission to find the light at the end of the tunnel, a Reddit user MATURBO, and other Redditors have unearthed videos of a YouTuber called davincij15, who used to post videos about investing in Gold and Silver back in 2009.
The Reddit thread posted by MATURBO discusses and claims that the person could actually be Satoshi Nakamoto. Although this seems like a far-fetched speculation, there are certain points that Davinci spoke about in his videos that might sway the decisions of people who are skeptical.
The Redditors are surprised with his “accurate predictions” of a lot of major events in the Bitcoin ecosystem.
On June 1, 2011, he posted a video titled “The power of Bitcoin vs Gold and Silver”, in which he spoke about Bitcoin and how it was revolutionary.
In the same video he said:
“I don’t know why you don’t see how this is a new powerful currency that will change the landscape of the internet and probably the rest of our world. Gold and silver are always going to be the money, but this allows you the convenience of sending somebody money all the way around the world.”
He added:
“… correct me if I’m wrong but there’s a lot of central authorities have been cheating us over the past hundred years… but this new bitcoin currency allows us to operate globally in a fast and efficient manner so we can operate locally with our silver and globally with bitcoins.”
On a video dated January 26, 2013, and titled “Remove your bitcoins from Mtgox”, he suggested users to “abandon Mt. Gox” and “move their money out from Mt. Gox” as Mt. Gox was being attacked by the US government and banksters.
Surely enough, on August 5, 2013, Mt. Gox announced that it incurred “significant losses” due to crediting deposits which had not fully cleared and that new deposits would no longer be credited until the transfer of funds was fully completed.
To make matters more interesting, on December 4, 2017, a video titled “Bitcoin Price Comment” he said that Bitcoin has saturated and that people should not buy Bitcoins at this point. He stated:
“and I still think you should you should take some profits I mean close to $20,000…I cannot endorse someone buying bitcoins right now so that’s my comment.”
In the same video he also said:
“I mean it’s it’s a little bit ridiculous… I see it quite a lot higher prices than it is right now I see it doing like a $100,000 the next time it does a big run like this, close to a $100,000.”
Now, this might all seem like a long shot, but apart from actually talking about Bitcoin, he has made videos about investing in silver and gold.
On January 6, 2009, Davincij15, posted a video named “Who is DavinciJ15?”, which was an “Ask Me Anything” video of sorts.
While speaking about gold and silver and giving his opinion on it, he addresses a few real-world problems in the financial sector, like the paper money, centralization by governments, middle-man fees etc.
He commented:
“Yep paper gold is a fraud! Keep your gold it does not require anyone to pay it back.”
“A dollar today is worth more than a dollar in the future. Why? Because the Federal Reserve and the government are creating it like crazy and they are not going to stop. Whatever you decide to do try to get the payment as small as possible interest only if you can.”
He also talks about the short-comings the banks had and have while addressing a need for “monetary freedom”, which were among the reasons why Satoshi Nakamoto developed Bitcoin in the first place.
“Maybe not a gold standard but monetary freedom where anyone can accept anything as money and contracts are enforced by law.”
Taken aback by his accurate predictions, redditors are speculating that he could be the real Satoshi Nakamoto.
A redditor, c5corvetter commented:
“This guy understood the concept behind bitcoin and what it could actually mean for e-commerce before 99.99999999% of others did. It wasn’t FOMO, it wasn’t luck, he understood the basis of bitcoin. One of his comments was “One day those same 10 coins will get you 10 oz of gold”. I’m positive this guy is a multi-millionaire now if he kept that mindset and kept mining.”
Another Redditor, RobelS commented:
“What if this guy is Satoshi nakamoto. He is still vouching for Bitcoin to this day btw”
Moneymakessense29, replied to RobelS saying:
“I’ve been following him and the thought has crossed my mind, he moved to a discreet location in Chile and he’s a software developer…. hmmm”
EuW_MadWard suggests him being the real Satoshi as he commented:
“To the question “Are you holding BTC now and/or buying?” he replied:
“Yes and no it’s complicated”.
That’s because he’s Satoshi, and he’s technically “holding” BTC just because if he didn’t the whole thing would come crumbling down.
We found him gents!”
After reaching out to him about the whole Reddit claiming him to be the real Satoshi Nakamoto, he replied saying that he was just a normal person.

Davinci denied being the actual Satoshi Nakamoto, be that as it may, he also predicted that Bitcoin would be revolutionary and change the way we do payments. He even warned his audience to clear off funds from Mt. Gox before it happened and even advised users to take off some profits at $20,000.
It could have been sheer luck if what he predicted was right just once, but three times in a row seems like a lot more than luck. He is either well-informed or the actual Satoshi Nakamoto as the redditors are discussing.
The post Redditors ‘unearth’ Bitcoin’s Satoshi Nakamoto, he says I don’t want the attention appeared first on AMBCrypto.
Source: AMB Crypto

Future is Brighter Than Ever for Crypto, Says Roger Ver

The outspoken CEO of Bitcoin.com believes that the future of cryptocurrencies like Bitcoin and Bitcoin Cash is bright, despite the current market sentiment, fearing that the budding financial technology has already met its demise.
Roger Ver: Based on Fundamentals, Crypto’s Long-Term Future is Bright
Roger Ver is a polarizing character in the cryptocurrency industry.
Love him or hate him, though, there’s no denying the early Bitcoin investor has helped bring cryptocurrency into the mainstream and has pushed the envelope for widespread adoption. In his latest comments, the Bitcoin.com CEO gives a positive outlook on cryptocurrencies.
While speaking to Bloomberg, Ver was questioned about the longevity of cryptocurrencies. As a self-proclaimed “fundamentals investor,” Ver believes that “long-term the future is brighter than ever,” for cryptocurrencies, adding that there’s “more awareness,” “more adoption,” and “more stuff happening all over the world.”
Related Reading: Roger Ver Hints at Launching Bitcoin Cash-Centric Exchange
Pundits like to demonize cryptocurrency for its usage in cyber crimes, for being a Ponzi scheme, or how cryptocurrency exchanges have suffered security breaches resulting in millions of dollars stolen from investors. Ver, on the other hand, claims that these things are nothing more than “bullish signals that cryptocurrency is here to stay and here for the long-term.”
“If anything I think it’s brought additional awareness to the ecosystem in the fact that such big players are involved. The fact that hackers are trying to hack it shows its worth something. If it wasn’t worth anything, it wasn’t useful, hackers wouldn’t be wasting their time trying to hack it,” Ver said justifying his comments.

“I’m incredibly bullish on the entire crypto coin ecosystem, and Bitcoin Cash specifically,” Ver explained.

Ver Wishes Bitcoin SV and Other Crypto “Good Luck”
When asked how cryptocurrencies can shed some of the stigma surrounding them, Ver suggests that influential figures and businesses in the space “need to build an economy based on actually using cryptocurrencies as currencies rather than just a bunch of speculators speculating.” Ver says that’s been Bitcoin’s goals from day one, as is the goal of Bitcoin Cash and recent rival Bitcoin SV.
While a “war” between two Bitcoin Cash factions has been waging for months – which many point to as the uncertainty that led to Bitcoin’s break of support at $6,000, sending it to new lows – Ver wished his opposing camp “good luck.”
Related Reading: Bitcoin Cash Rivals Duke It Out Ahead of Hard Fork
“I wish every cryptocurrency good luck if they’re trying to bring more economic freedom to the world by making them useful as currencies for the world,” Ver added.
Last month, Bitcoin Cash was hard forked to split and create two “camps” as Ver called them: Bitcoin ABC and Bitcoin SV. Bitcoin ABC was favored by Ver and his supporters, while Bitcoin SV – Satoshi’s Vision – was led by Craig Wright, who claims to be Satoshi Nakamoto.
Featured image from Shutterstock.
The post Future is Brighter Than Ever for Crypto, Says Roger Ver appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin [BTC]’s Satoshi Nakamoto supposedly back from the dead

Satoshi Nakamoto’s profile on P2P Foundation came back to life on November 29, 2018, at 12:30 UTC all of a sudden after years of inactivity and posted just one word, “nour” and nothing else.
The word “nour” can be interpreted in different ways, one is the Arabic translation into “noor” which means “the light” and the other, as represented by Urban Dictionary, “The most loving, affectionate and caring person you’ll ever meet. Extremely smart, funny and sensitive. ”
Be that as it may, everybody in the community is questioning as to “why now?” and speculating the reason behind it. Moreover, Satoshi’s emails that were associated with his P2P profile were compromised as the domain behind it went offline.
There is highly unlikely chance that it could be the actual Satoshi Nakamoto, the creator of Bitcoin, coming back to his compromised account. Moreover, the email linked in the P2P website was inactive.
Furthermore, before posting the controversial word, Satoshi Nakamoto connected with Wagner Tamanaha.
Craig Wright, the self-proclaimed Satoshi Nakamoto took to his Twitter further insinuating his claim to being the creator of Bitcoin by posting pictures of sunlight with Arabic captions.

A Redditor MindWallet commented:
“Probably hacked, yes. Why on earth would he come out and say something in Arabic? The account has already been hacked on several occasions as far as I know.”
Although Satoshi Nakamoto’s identity remains hidden even after a decade, there was a supposed Satoshi Nakamoto on Twitter [account suspended for now] a few weeks back that claimed that he would reveal his actual identity as there was a problem with SegWit.
The Tweet said:
“I do not want to be public, but, there is an issue with SegWit. If it is not fixed, there will be nothing and I would have failed. There is only one way that Bitcoin survives and it is important to me that it works. Important enocugh, that I may be known openly.”
The post Bitcoin [BTC]’s Satoshi Nakamoto supposedly back from the dead appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] creator reportedly surfaces; community speculates Craig Wright pulling fast one

The creator of Bitcoin [BTC], the very first decentralized cryptocurrency, Satoshi Nakamoto is hailed as a legend around the globe. The identity of Satoshi Nakamoto continues to remain unmasked. However, according to Twitter handle, Satoshi Nakamoto is going to reveal his identity.
This is not the first time someone has claimed the rights to the identity. There have been several individuals, however, the only strong claim that made a huge impact in the whole cryptocurrency community was that of Craig Wright’s. After Craig proclaimed to be Satoshi Nakamoto, it was soon dismissed as bluff as there was not any concrete evidence to support the claim. This eventually resulted in the entire community calling Craig, Faketoshi.
A twitter profile that goes by the name Satoshi Nakamoto now has made some shocking claims. First, the handle posted a link of a transaction dated back to January 9, 2009. This was the same day Nakamoto released the Bitcoin version 0.1 on Sourceforege, according to Wikipedia.
Bitcoin [BTC] transaction posted by Satoshi Nakamoto on Twitter | Source: BlockchainThis was followed by the Twitter handle claiming that there is an issue with the Segwit. This issue potentially destroyed Bitcoin and that it was important for him for it to work, so much that he is ready to reveal his identity.
The Tweet read:
“I do not want to be public, but, there is an issue with SegWit. If it is not fixed, there will be nothing and I would have failed. There is only one way that Bitcoin survives and it is important to me that it works. Important enough, that I may be known openly.”
Succeeding which, the handle claimed that this will be revealed in December 2019. It said:
“The message will be clear in Dec 2019.”
This resulted in the majority of the community claiming that it was Craig Wright who was in control of the account.
Hatterzly, a Redditor said:
“CSW’s stink all over it. Problems with segwit, announced by the decade-anonymous and absent creator right in the midst of a hashwar. Yep, ok, sure.”
Reddmon2, another Twitterati said:
“I’m downvoting this as I believe this is just CSW up to mischief. It lines up with the things he’s been saying recently. If it really is Satoshi, he could easily prove it in one tweet. There would be no need to speculate then.”
The post Bitcoin [BTC] creator reportedly surfaces; community speculates Craig Wright pulling fast one appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Today: Satoshi Nakamoto Envisioned the Forking Drama 8 Years back, Post BCH Fork Relief in Crypto Market

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro.”

The BCH fork drama that played out was actually envisioned by Satoshi Nakamoto in 2010
As the BCH fork now behind us, the market sees a relief rally

Did Satoshi envision the BCH fork drama right back in 2010?
If someone new to cryptos would have witnessed the BCH fork drama from distance, he would have felt poorly for the crypto industry. But this was very well known, as the great Satoshi Nakamoto had, in fact, predicted the whole drama 8 years ago. According to a post published by Satoshi Nakamoto on June 17, 2010 reply to the post “Transactions and Scripts: DUP HASH160 … EQUALVERIFY CHECKSIG”, Satoshi had said,
If someone was getting ready to fork a second version, I would have to air a lot of disclaimers about the risks of using a minority version.  This is a design where the majority version wins if there’s any disagreement, and that can be pretty ugly for the minority version and I’d rather not go into it, and I don’t have to as long as there’s only one version.
This post clearly puts forward the vision of Satoshi, that when it comes to bitcoin and cryptocurrencies, it’s the idea that carries more weight than the technology and the software. It clearly stated that the miners vote with their hash power, wallet providers and exchanges vote with their code and the market votes with their feet.
Cryptos rally post BCH fork
As the BCH fork now behind us and a lot of coins already sitting on multi-month low, nearly all crypto assets apart from BCH were up over the last 24 hours. It’s good to see things holding up so steadily with everything going on
As the market tries to claw their way up again, a lot of analyst on street analysts are still seeing this downside breakout as an indication that things might go lower, while the long-term players continue to accumulate at these levels.

Source: Coinmarketcap
Let’s wait and watch as we head into the weekend? Any ideas?
The post Crypto Today: Satoshi Nakamoto Envisioned the Forking Drama 8 Years back, Post BCH Fork Relief in Crypto Market appeared first on Coingape.
Source: CoinGape

Early Bitcoin Pioneer Speculates Who Nakamoto Is, Gives $100 Million in Asset Away

Jeff Garzik, an early pioneer of Bitcoin, has revealed that he’s given away over $100 million worth of the asset, but has no regrets about it.
Giving Money to Something He Believes In
Garzik has been in the space since 2010 after reading a blog post about Bitcoin. Writing code for it, he soon became the third-biggest contributor to Bitcoin after Satoshi Nakamoto and Gavin Andresen.
However, in a report with Bloomberg, the Bitcoin pioneer notes that the currency is not what he thought it would be. Yet, despite this, he’s proud of what has been achieved so far. So much so, that in a bid to spur software work on he gave 15,678 Bitcoins away about seven years ago in developer bounties. At current prices that’s around $100 million.
Garzik recalls that when Bitcoin reached $1 in 2011 a party was held to celebrate the milestone, adding “it was a question whether this thing would survive at all. And there’s no question of that today.”
Yet, while Nakamoto’s idea of Bitcoin being used as private money hasn’t materialised yet, Garzik is fine with it being treated as a store of value.
“It is an organism, it’s something that evolves,” he added. “It hasn’t evolved in the direction of high-volume payments, which is something we thought about in the very early days: getting merchants to accept Bitcoins. But on the store-of-value side it’s unquestionably a success.”
Related Reading: Jeff Garzik Builds “Thousand Year Cryptocurency”
Will the Real Nakamoto Please Stand Up
Having worked closely, if only online, with Nakamoto, Garzik thinks he knows who it may be.
Speaking of the late Floridian Dave Kleiman, he said that this “this gentleman was self taught” and that it “matches his coding style.” He went on to add that:
“…the Bitcoin coder was someone who was very, very smart, but not a classically trained software engineer.”
Kleiman, who was wheelchair-bound after a motorcycle accident, died in 2013 after suffering an MRSA infection. He was a former Florida sheriff’s officer who became a computer forensics expert. Notably, Australian Craig Wright, who claimed he was Nakamoto in 2016, is being sued by the Kleiman’s estate for allegedly stealing billions of dollars worth of Bitcoin and intellectual property from Kleiman.
According to a report from February, Kleiman and Wright had partnered to mine Bitcoin, owning and controlling over 1.1 million Bitcoins between them. However, a lawsuit filed in February suggests that Wright was plotting to swindle Kleiman out of his Bitcoins and intellectual property.
In 2011, the pair founded a Florida-based company called W&K Info Defense Research LLC, which was engaged in Bitcoin mining and research. According to the lawsuit, Kleiman owned between 50 and 100 per cent of W&K. It adds that the Kleiman estate owns the rights to $5,118,266,427.50 worth of Bitcoin and IP rights.
Yesterday, Roger Ver, an advocate behind Bitcoin Cash, posted a video on YouTube, alleging that he’d received an email from Wright claiming he was Nakamoto and that he would crash the value of BCH.
Featured image from Shutterstock.
The post Early Bitcoin Pioneer Speculates Who Nakamoto Is, Gives $100 Million in Asset Away appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Turns Ten: A Blast To The Past

Just shy of 10 years ago, on October 31st, 2008, Satoshi Nakamoto, the pseudonymous creator of the now-world-renowned Bitcoin project, sat down to release a technical paper on what is arguably the most important innovation in human history.
Bitcoin Origins
As you may (or may not remember), this paper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” highlighted the world’s first decentralized network and a viable form of digital cash that was seemingly poised to usurp the powers that be — the government and centralized institutions.
Initially, Nakamoto’s paper was slow to garner traction, occasionally seeing a few clicks from subscribers of Metzdowd.com, a lesser-known cryptography mailing list that was frequented by innovators, digital anarchists, and zany internet goers who likely had two too many beers. In spite of only seeing fleeting flashes of interest at the start, Nakamoto, who claimed to be a Japan-based coder, pushed ahead, launching Bitcoin v0.1 via Sourceforge on January 9th, 2009.
In the Bitcoin Network’s first block, commonly referred to as the near-deified “Genesis Block,” Nakamoto, making his hate for banks public, embedded the following comment:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
While this could’ve been any old headline snagged from one of the internet’s thousands of RSS feeds, the fact that Nakamoto chose a story that clearly outlined the state of the traditional banking system at the time indicates that he had a penchant to hate banks.
As the first block was processed and the first coinbase transaction was issued, it was apparent that Satoshi was all by his lonesome, as his node, the world’s first full Bitcoin node, sat alone and in the dark. However, this changed when computer scientist Hal Finney overtly expressed interest in the decentralized system, becoming the first user to ever receive a BTC transaction, and from Satoshi himself, no less.
Still, despite the fact that the Bitcoin Network was as decentralized (and appealing) as systems come, with a (near) set-in-stone 10-minute block time and a fixed distribution curve, for a majority of the system’s infant months, Satoshi and Finney were left alone to twiddle their thumbs… Or in this case, to twitch their fingers over a keyboard in a bid to better the Bitcoin Network.
In a testament to the ghost town that was Bitcoin in 2009, Nakamoto, who is believed to have been Hal Finney by some, mined an estimated one million BTC, which have presumably been lost in the ether.
However, as the brainchild of Nakamoto turned one, the pseudonymous coder’s involvement in the project waned, like a candle reaching the end of its wick. And eventually, due to an unexplained series of circumstances, in classic Satoshi style, the Bitcoin founder disappeared, quickly handing pertinent keys and data over to Gavin Andresen, along with a handful of other early crypto adopters, to foster the project further.
Following that fateful day in 2010, Bitcoin wasn’t one man’s creation any longer, but rather, an innovation backed by a countless number of diehard decentralists and those with visions of a new world — one revolutionized by decentralized systems.
The Bitcoin Pizza, Mt.Gox, Silk Road
On May 22nd, 2010, the world saw one Laszlo Hanyecz issue the world’s first real-item BTC transaction, sending 10,000 BTC (~$40 at the time) to a Bitcoin Forum user named Jercos in exchange for two Dominos pizzas. While this occurrence may seem silly and something that should be swept under the rug, since Laszlo took the first bite of his 10,000 BTC pizza, nothing has been the same — hence the creation of “Bitcoin Pizza Day.”
While Laszlo’s transaction was a crypto-to-fiat transaction in essence, at the time, there were few legitimate, accessible, and easy-to-use platforms that openly supported fiat, which hampered the adoption and maturation of Bitcoin and the earliest semblance of altcoins.
Programmer Jed McCaleb aimed to solve this problem, turning Magic: The Gathering Online eXchange (Mt.Gox), which he owned, into the Bitcoin exchange that some loved, and others loved to hate. Eight months after launching Mt.Gox on July 18th, 2010, McCaleb, who has since done stints at the Stellar and Ripple projects, sold Mt.Gox to French developer Mark Karpeles, who was situated in Japan at the time.
As the now-infamous story goes, Mt.Gox saw its first tussle with hackers in mid-June 2011, when a malicious attacker forced the nominal price of BTC to move to $0.01 on the exchange. Although this breach was evidently dangerous and exposed flaws in the platform’s operational security systems, interested consumers continued to flock to Mt.Gox. By 2013, the Japan-based platform had garnered an average of 70% of the world’s daily BTC volume, indicating that McCaleb’s move to pawn off Mt.Gox to Karpeles may have backfired.
As Mt.Gox continued to gain traction, Ross Ulbricht, the alleged founder of the online BTC-centric Silk Road marketplace, was implicated in cases of money laundering, computer hacking, conspiracy to traffic narcotics, “and attempted murder.” Ulbricht, who has been dubbed a hero by many in the cypherpunk community, was sentenced to a life without parole in prison, with this being one of the first times that the U.S. government had gone all-out against crypto, shutting down Silk Road’s illicit good market in the process.
As Silk Road collapsed, Mt.Gox exchange remained at the top of the leaderboards, so to speak. However, In February 2014, the exchange suffered a ground-breaking hack, reportedly losing upwards of 750,000 BTC. This hack, which saw Mt.Gox lose over $473 million worth of BTC (at past valuations) and the subsequent shutdown of Mt.Gox catalyzed the creation of a Japanese court case, which still rages on to this day. Along with sparking a heated legal debate, with “Mt.Gox, where’s our money?” becoming the war cry of hack victims, the story of Mt.Gox became one of the first crypto-related stories to garner traction in the mainstream media realm, leading many consumers to permanently disassociate their lives with Bitcoin and cryptocurrencies.
However, it wasn’t all doom and gloom in the crypto markets, as during the multi-year course of aforementioned two events, the nascent crypto ecosystem continued to mature at an unbridled pace. For one, in early 2011, as Mt.Gox was starting to stand on its own two feet, Wikileaks, a non-for-profit leaked/secret information source, revealed that it would add support for BTC following an embargo from payment providers, who didn’t want to associate themselves with the illicit leaking of confidential information.
Although this is only one out of the hundreds of examples of real-world adoption (Overstock.com, NewEgg, Steam, Microsoft, and many others also joined the fray), this specific case highlights Bitcoin’s role as an uncensorable, cross-border, and efficient method of payment, which is exactly what Satoshi envisioned in his original paper.
The Lull And Subsequent Boom
Likely due to the aforementioned Mt.Gox and Silk Road debacles and/or classic market cycles, the crypto industry quieted down in 2015 and 2016, with BTC undergoing a relative lull, with prices often resembling traditional equity markets at some point during that two year period.
However, while volatility declined and speculative interest exited the market, the industry’s fundamentals continued to boom, with Bitcoin and other crypto assets gaining recognition as a form of online payment, while also seeing positive regulatory news rush in en-masse.
In March 2016, solidifying the legitimacy of cryptocurrencies, Japan’s Cabinet formally recognized virtual currencies as something similar to physical money, pushing the nation forward in its acceptance of cryptocurrency and blockchain technology. Following this regulatory win, other nations followed suit, but like Bitcoin’s most infant years, Japan remained a home of innovation for this promising technology.
Eventually, 2017 rolled around, and as you likely remember, it was quite a year to behold, especially in the context of the crypto market and Bitcoin specifically. Throughout 2017, Bitcoin and crypto assets garnered a colossal amount of consumer traction, with “Bitcoin” becoming one of Google’s most searched terms, if not the most searched term on the America-based web search giant. In 2017, discussion regarding alternative vehicles for Bitcoin investment began, resulting in plans to launch ETFs, futures contracts, and similar products that were all centered around crypto assets. While the Winklevoss Twins’ ETF application fell through, in late-2017, as BTC neared its peak at $20,000, the U.S. Commodities Futures Trading Commission (CFTC) gave the CME and CBOE Global Markets the green light to launch a cash-settled Bitcoin futures contract, which sparked claims that institutions were poised to come rushing into this market.
However, since then, the value of crypto assets have seen a sharp sell-off, as many have claimed that this market reached a point where it was well over-bought. Due to crypto’s most recent collapse, per 99Bitcoins’ “Bitcoin Obituaries” page, industry onlookers have claimed that this nascent innovation has died upwards of 315 times, likely due to a multitude of qualms. But now, as seen by the monumental rise of interest from retail, merchant, and institutional participants, this industry isn’t ready to go kaput… far from in fact. But more on that in the next edition of “Bitcoin Turns Ten”.
Part 2 tomorrow: Bitcoin Turns Ten: Today And What’s Next?
Featured Image from Shutterstock
The post Bitcoin Turns Ten: A Blast To The Past appeared first on NewsBTC.
Source: New feedNewsBTC.com

Centralized Cryptocurrencies Dominate Market, But What About Bitcoin?

A new report reveals that the majority of cryptocurrency and blockchain projects are centralized.
Majority of Cryptocurrencies Can Be Classified as Centralized, Securities
Cryptocurrency research firm CryptoCompare released its annual Cryptoasset Taxonomy Report, and their findings reveal that only 16% of cryptocurrencies are fully decentralized. The remaining cryptocurrencies reviewed are either centralized, or only semi-decentralized, suggesting that the development team behind the projects have some leverage to influence the protocol underlying the asset.
While the original cryptocurrency that started it all, Bitcoin, was designed by the mysterious Satoshi Nakamoto to focus on decentralization and removing the control governments have over existing fiat currencies, the industry he or she created is increasingly trending toward centralization.
The report outlines how the trend is largely driven by the rapid growth of new utility tokens running on private servers. Only 9% of all utility tokens were found to be sufficiently decentralized. Cryptocurrencies that function primarily as a means of payment, such as Bitcoin, Litecoin, Stellar, and others are among the most decentralized types of crypto assets.
Financial assets such as those born from initial coin offerings (ICOs) are only 7% decentralized, and are more often than not classified as securities, according to the report. CryptoCompare classified the assets using guidelines set forth by the Swiss Financial Market Supervisory Authority (FINMA).
But What About Bitcoin, Ethereum, and XRP?
Which crypto assets are properly decentralized or what assets can be deemed as securities are a hot button issue for cryptocurrency investors.
Bitcoin was recently ruled a commodity by a U.S. district court judge, and Jay Clayton, chair of the U.S. Securities and Exchange Commission (SEC), has gone on record stating that Ethereum is no longer a security, even though it may have started its existence as one.
XRP, the native crypto token of the Ripple protocol is often used as an example of a crypto asset that claims to be decentralized, but is arguably not. Investors fear that Ripple Labs’ ownership of the bulk of the XRP supply puts the token at risk for being deemed a security.
Ripple executives have repeatedly refuted claims that XRP is centralized, and often point to China’s dominance over Bitcoin mining as a way the number one cryptocurrency by market cap has become increasingly centralized. Recent reports conclude that as much as 74 percent of Bitcoin’s hashpower is derived from Chinese mining pools like Bitmain. However, given the fact that the mining pools controlling much of Bitcoin’s hashpower are separate entities, Bitcoin remains sufficiently decentralized.
Bitcoin was created by Satoshi Nakamoto in 2008 in the wake of the global financial crisis. Nakamoto designed Bitcoin to be decentralized in an attempt to remove the control over the world’s finance that banks and governments have long enjoyed.
Featured image from Shutterstock.
The post Centralized Cryptocurrencies Dominate Market, But What About Bitcoin? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Did Satoshi Nakamoto Cash Out 30,000 Bitcoins?

A blockchain analyst observed this week that one of the earliest miners of Bitcoin (BTC) has been cashing out a crypto fortune (approx. 30,000 bitcoins) up until the height of crypto mania in January 2018 when the digital gold was trading near $20,000 USD. Which begs the question: Who is this mystery trader who just received a nine-figure windfall (perhaps tax-free) that’s comparable in size to the largest lottery jackpots ever?
London-based Antoine Le Calvez (Twitter @khannib) on Sept.
Continue reading Did Satoshi Nakamoto Cash Out 30,000 Bitcoins? at Crypto Daily™.
Source: Crypto Daily

Bitcoin Jesus continues to claim that BCH is Bitcoin

Roger Ver, the CEO of Bitcoin.com, popularly known as the Bitcoin Jesus recently tweeted that Bitcoin [BTC] supporters stand against the definition laid out in the title of its whitepaper. The statement made by him faced a lot of criticism on his social media platform.
Roger Ver Tweeted:
“Consider the fact that BTC supporters are opposed to the use case laid out in the very title of the white paper that defines what Bitcoin is. BCH is Bitcoin.”
Image attached by Roger Ver highlighting the title of Bitcoin Whitepaper || Source: Twitter
This is not the first time Roger is seen voicing against Bitcoin [BTC] and supporting Bitcoin Cash [BCH]. ‘Bitcoin Jesus’ has been continuously promoting Bitcoin Cash [BCH] as the token envisioned by Satoshi Nakamoto. Recently, he stated that BCH is a peer-to-peer electronic cash system and not BTC because Bitcoin Cash processed more transaction in a single day while maintaining a low transaction fee than that of Bitcoin.
The statement on this social media platform was followed up by a lot of support as well as dissent from the community. Some claimed that if Bitcoin is supposed to be the way it is mentioned in the whitepaper by Satoshi Nakamoto, then there are some alts which are already providing those services which would mean that they are Bitcoin as well.
Rodney Tambling, Twitterati said:
“The part about micro payments to adult sites technically makes Verge #xvg the bitcoin in the white paper too”
The BTC community shifted to defense mode by stating that Bitcoin remains true to Satoshi’s vision. The news that it is to be accepted by Starbucks for payment was also stirred up. The statement also witnessed a huge support from the Bitcoin Cash community.
David, another Twitterati said:
“Lol, how many times has ver used the buying a cup of coffee example? This totally invalidates btrash!”
Plymouth Freemason said:
“@rogerkver – do you wanna go to Starbucks with your BCash junkcoin? Oh well… you can’t.”
Craig Mason, a person who makes videos about cryptocurrency said:
“When the day comes that Starbux is ready to accept crypto, a team of smart people will be tasked with figuring out which one(s) to accept. They will care only about it’s usability and profitability. They’ll probably research the lightning network, BCH, and others…”
He further adds:
“and consider how each may play out in their stores. They’ll bring in experts, compare costs/benefits, and try them out. They’ll see that LN needs to be online, can’t handle big payments (there will be some, even at sbux), and is a general hassle to use. They’ll see BCH and/or others work simply and reliably (and also work similarly, not some oddball kludge like LN). They will look at the trends, which is gaining adoption. I highly doubt they’ll end up using BTC.”
The post Bitcoin Jesus continues to claim that BCH is Bitcoin appeared first on AMBCrypto.
Source: AMB Crypto