Category Archives: Satoshi Nakamoto
Halving 2024: The Legend of Satoshi Nakamoto – Crypto Times
April 11, 2024: Back on January 9, 2009, an unknown person, or persons or an entity named Satoshi Nakamoto released 0.1 version of Bitcoin software on SourceForge and launched the genesis block of Blockchain.
Nakamoto embedded a headline from UK-based The Times newspaper dated January 3, 2009 as a timestamp in the coin base transaction of the genesis block.
The headline read, The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. The headline was not just a timestamp but a sly attack on the existing banking structure and its instabilities.
Since then, its been over 15 years, and the finance world is now taken over by a new terminology- cryptocurrency market- a $2.81 trillion valued ecosystem, which is touted to be the future of money.
Bitcoin, which was originally valued as next to nothing, is currently priced at US $70,000 and trade analysts predict that it might cross the threshold of US $150,000 post the halving event of 2024.
It was Nakamotos idea to introduce an algorithm in the blockchain software which resulted in halving of bitcoin rewards for miners after completion of every 2,10,000 blocks.
However, what has been kept secret for the past 15 years is the identity of this person Satoshi Nakamoto.
If you search on the internet, the name throws up wild speculations about the identity of Nakamoto.
Some claim the person to be of Japanese origin, some contend it was a CIAs black op or work of the illuminati group while there are also some who believe it was the bigfoot!!
Contenders for the pseudonym are many; some self-claimed and some claimed to be by conspiracy theorists and investigative journalists, but no one has been able to provide satisfactory evidence to trace Nakamoto.
The name Satoshi Nakamoto is Japanese, and it literally translates to wisdom (Satoshi) and the one who lives (Nakamoto). While there are other interpretations of this name, bitcoin enthusiasts take this definition as the most widely accepted one.
There have been several attempts to link the identity of Nakamoto with various people across the globe, but none have been able to successfully decipher the mystery.
The three most famous personalities to have been linked with the pseudonym Satoshi Nakamoto are Dorian Nakamoto, a Japanese American engineer, Australian computer scientist Craig Wright and Nick Szabo, the inventor of Bitgold.
Among the three, Dorian Nakamoto is a physics graduate from California Polytechnic State University who was wrongly attributed as the inventor of Bitcoin owing to a news report in 2014. He had then released a statement denying categorically any involvement with Bitcoin or blockchain technology.
Similarly, computer scientist and cryptographer Nicholas Szabo has been attributed as the real Satoshi Nakamoto owing to his invention of Bitgold back in 1998, which is a precursor to Bitcoin. Szabo is also credited with developing smart contracts, a digital agreement stored in blockchain networks. He has also denied being the real Nakamoto back in 2014.
The third case of Craig Wright, an Australian computer scientist, is unique among the three, as he is the only well-known person to have publicly claimed to be Nakamoto. However, in March 2024, a UK court had given a ruling that Wright was not Nakamoto, the inventor of Bitcoin.
While the identity of Nakamoto remains elusive till date, perhaps the creator/creators of this pseudonym wanted the world to focus on the message and not the messenger.
This takes us to Satoshis whitepaper which was released on October 31 in 2008 on a newly registered domain named bitcoin.org where the creator titled the digital cryptocurrency as Bitcoin: A Peer-to-Peer Electronic Cash.
Considered as the Bible of the crypto world, the white paper released by Satoshi on bitcoin.org in 2008 mentions in detail the idea behind BTC and how blockchain technology can eliminate the need of a trusted third-party facilitator in digital transactions. Satoshis white paper was an antithesis to the existing banking structure, where two persons required a third person to validate their transaction of money for a fee.
New crypto enthusiasts still depend upon Satoshis whitepaper to get their basics about blockchain technology right.
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party, read an excerpt from Satoshis white paper.
The document also prepares the blueprint of bitcoin software by using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.
After the release of the genesis blockchain, Satoshi remained active for the next two years after which the person disappeared into oblivion. It is believed that Satoshi holds BTC between 7,50,000 to 11,00,000 since 2010 and that puts their net worth roughly over $72 billion, making them one of the richest persons in the world.
Speculations are rife on the internet regarding the future of Satoshi and whether this person would be identified one day. Crypto enthusiasts also wonder whether Satoshi would be honoured by governments or chased by enforcement agencies over possibilities of tax evasion, if at all his identity is revealed.
However, one inference is certain that the legacy of Nakamoto will live forever, and it will continue to inspire future computer scientists, programmers and crypto enthusiasts.
Borrowing a quote from the extremely popular movie V for Vendetta, the story of Nakamoto could be summarized as we are told to remember the idea, not the man, because a man can fail. He can be caught. He can be killed and forgotten. But four hundred years later, the idea can still change the world.
Graphics and Illustrations by Kartik Shah
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Unseen Emails From Satoshi Nakamoto 5 Revelations About The Creator Of Bitcoin (BTC) – The Signal
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The enigmatic Satoshi Nakamoto, the name behind the creation of Bitcoin (BTC), has always been a subject of immense speculation and mystery. Recently, a treasure trove of communication has surfaced, shedding light on the thoughts and intentions of the digital currencys creator. Spanning 120 pages, these emails between Nakamoto and developer Martti Malmi (known as Sirius) offer fascinating insights into the mind of one of the cryptocurrency worlds most influential figures.
From the very beginning, Satoshi Nakamoto was pondering the scalability of Bitcoin. In 2009, he speculated that the network could potentially accommodate up to 100,000 nodes, a figure that hovers around 50,000 today. Nakamoto believed in the networks adaptability, bolstered by the advancements in technology that would support its growth. His optimism about Bitcoins adoption, despite skepticism from some quarters, reflects his conviction in the projects potential. Nakamotos responses to early criticisms highlighted his belief in Bitcoin as a transformative financial instrument, despite what he considered Neanderthal reactions from some forum commentators.
Amidst debates on forums about the utility and energy consumption of Bitcoin, Nakamoto defended the necessity of his creation. He argued that even if Bitcoin grew to consume a significant amount of electricity, it would still be less wasteful than the conventional banking sector, with its physical infrastructure and associated costs. Nakamoto viewed the choice between economic freedom and conservation as an existential one for humanity, emphasizing the importance of a digital payment network over the traditional, resource-intensive banking system.
Satoshi Nakamotos decision to step away from Bitcoin and return to anonymity is well-documented. These emails further reveal his discomfort with promoting Bitcoin as an investment. He preferred to see BTC as a means of exchange and an alternative to fiat currencies, rather than an asset to be hoarded. This stance is especially poignant considering the current trend of treating Bitcoin primarily as an investment vehicle. The emails also touch on Nakamotos fatigue with his Bitcoin project and his desire to take a break as early as July 2009.
Nakamoto was cautious about Bitcoin being perceived as shadowy or anonymous. He requested the removal of any mention of anonymity from the bitcoin.org website, stressing that Bitcoin offered pseudonymity, not anonymity. This distinction was important to him, as he believed that overstating Bitcoins anonymity could lead to negative repercussions if transaction histories were scrutinized. Nakamoto thought those seeking to use Bitcoin anonymously would find ways to do so, but it was not a feature he wanted to highlight.
To Satoshi Nakamoto, the allure of Bitcoin was its initial accessibility. At the outset, individuals could mine Bitcoin on their computers at a negligible cost, making it available to anyone with the necessary hardware. This potential for free money, as Nakamoto saw it, was expected to draw the first wave of users. Over time, the increasing difficulty of mining would ensure Bitcoins scarcity and value, a prediction that has held true as mining has become more challenging and resource-intensive.
These emails not only reaffirm Satoshi Nakamotos vision and values but also highlight how deeply he had considered the challenges and debates that continue to shape the cryptocurrency ecosystem today. If Nakamoto is still observing the network he created, he might be marveling at just how much Bitcoin has evolved, for better or worse.
Peter, a distinguished alumnus of a prominent journalism school in New Jersey, brings a rich tapestry of insights to The Signal. With a fervent passion for news, society, art, and television, Peter exemplifies the essence of a modern journalist. His keen eye for societal trends and a deep appreciation for the arts infuse his writing with a unique perspective. Peters journalistic prowess is evident in his ability to weave complex narratives into engaging stories. His work is not just informative but a journey through the multifaceted world of finance and societal dynamics, reflecting his commitment to excellence in journalism.
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Unseen Emails From Satoshi Nakamoto 5 Revelations About The Creator Of Bitcoin (BTC) - The Signal
Craig Wright Drops Norwegian Defamation Appeal Over Satoshi Nakamoto Claims – Cryptonews
Last updated: April 12, 2024 16:15 EDT | 2 min read
Craig Wright, the Australian computer scientist claiming to be Bitcoins creator Satoshi Nakamoto, has dropped his appeal in a Norwegian defamation case against the well-known Bitcoiner Hodlonaut (a.k.a. Marcus Granath), according to a statement released on X Thursday.
Granath first found himself in legal hot water with Wright when he took issue with a series of now-deleted March 2019 X posts referring to the so-called Bitcoin inventor as a fraud, mentally ill, and a pathetic scammer.
By that summer, the London-based Wright had filed a defamation lawsuit against Granath in the U.K.Around the same time, Granath filed a lawsuit in his native Norway alleging that his judgements against Wright were fully compatible with the law.
In October 2022, a Norwegian court ruled in Granaths favor, in part claiming that Wright had insufficient evidence to verifiably prove he was Satoshi Nakamoto.
Just got off the phone with my Norwegian lawyer, Granath posted to his X account. CRAIG WRIGHT DROPPED THE APPEAL IN NORWAY! My win from 2022 is now final and enforceable. This case started May 19th, 2019 and lasted until today. Im very happy!
News of Wrights failed Norwegian appeal comes just two months after Londons High Court found the alleged Australian fraudster to have lied about being the inventor of Bitcoin in a case filed by the Crypto Open Patent Alliance (COPA) challenging his claims.
For over eight years, Dr. Wright and his financial backers have lied about his identity as Satoshi Nakamoto and used that lie to bully and intimidate developers in the bitcoin community, COPA posted to their X account shortly after the ruling. That ends today with the courts ruling that Craig Wright is not Satoshi Nakamoto.
In fact, a recent linguistic analysis of Satoshi Nakamotos writing shows that the enigmatic founding father of crypto may be a collective group, not just one individual.
Shortly after the ruling, UK Judge James Mellor froze the entirety of Wrights assets after he attempted to transfer several of his London firms shares to a Singapore-based entity, potentially in a bid to evade financial penalties related to the case.
Despite Granaths latest victory, Wrights original libel lawsuit against him remains open in the UK. Its unclear when or if they will return to court for this case.
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Craig Wright Drops Norwegian Defamation Appeal Over Satoshi Nakamoto Claims - Cryptonews
Influential People in BTC and What They Think About Its Future – Eye On Annapolis
Bitcoin (BTC) has revolutionized the financial landscape, with influential figures shaping its future. From the mysterious Satoshi Nakamoto to visionary Elon Musk, their perspectives drive BTCs trajectory. Understanding these key figures is crucial to grasp BTCs evolution and potential. In addition, if you are looking for a free and easy-to-use website that helps people find an education company to start learning about investments, you may visithttps://immediate-enigma.nl/.
Satoshi Nakamoto is the pseudonymous person or group behind the creation of Bitcoin, the first decentralized cryptocurrency. Despite the significant impact of Bitcoin on the financial world, the true identity of Satoshi Nakamoto remains unknown. Satoshis white paper, published in 2008, outlined the key concepts of Bitcoin and its underlying technology, blockchain. The vision presented in the white paper laid the foundation for the development of Bitcoin and inspired the creation of numerous other cryptocurrencies.
Satoshi Nakamotos decision to remain anonymous has led to various theories about their identity. Some believe Satoshi is a single individual, while others speculate that it could be a group of people. Regardless of their identity, Satoshis influence on the cryptocurrency space is undeniable. The decision to create a decentralized digital currency has challenged the traditional financial system and sparked a global discussion about the future of money.
Vitalik Buterin is a Russian-Canadian programmer and writer primarily known as the co-founder of Ethereum, a decentralized cryptocurrency platform. Buterin first proposed Ethereum in late 2013 and development began in early 2014, with the network going live on July 30, 2015. Ethereums blockchain is designed to host smart contracts, which are self-executing contracts with the terms of the agreement directly written into code.
Buterins vision for Ethereum extends beyond just a cryptocurrency. He envisions a platform that enables developers to build decentralized applications (dApps) on top of its blockchain. This flexibility has led to Ethereum becoming the foundation for a wide range of projects, including decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and more.
Elon Musk, the CEO of Tesla and SpaceX, is known for his influential presence on social media and his impact on the cryptocurrency market. Musks tweets have been known to cause significant fluctuations in the prices of cryptocurrencies, particularly Bitcoin. His tweets often express support or criticism for various cryptocurrencies, leading to a phenomenon known as the Musk Effect.
Despite his influence, Musks relationship with the cryptocurrency community has been turbulent. He has been criticized for his flip-flopping stance on Bitcoin, initially embracing it as a payment method for Tesla, then later suspending Teslas acceptance of Bitcoin due to environmental concerns. Despite this, Musk remains a prominent figure in the cryptocurrency space, with his actions and statements continuing to shape public opinion and influence the direction of the market.
Jack Dorsey, the co-founder and CEO of Twitter, is a vocal advocate for Bitcoin and sees it as a tool for financial empowerment and freedom. Dorseys interest in Bitcoin stems from his belief in its potential to disrupt traditional financial systems and empower individuals. He has been a strong proponent of Bitcoin, stating that he believes it will eventually become the worlds single currency.
Through his company Square, Dorsey has taken steps to integrate Bitcoin into everyday financial transactions. Square allows users to buy, sell, and hold Bitcoin through its Cash App, making it easier for people to access the cryptocurrency. Dorsey has also supported Bitcoin development through Square Crypto, a team dedicated to improving the Bitcoin ecosystem.
Dorseys vision for Bitcoin goes beyond just financial transactions. He sees Bitcoin as a means of promoting financial inclusivity and giving people more control over their money. Dorseys advocacy for Bitcoin as a tool for financial freedom has helped raise awareness about the potential benefits of cryptocurrencies and has contributed to the growing acceptance of Bitcoin in mainstream finance.
The insights of Satoshi Nakamoto, Vitalik Buterin, Elon Musk, and Jack Dorsey illuminate BTCs future as a transformative force in finance. Their contributions have propelled Bitcoin into the mainstream, highlighting its potential to redefine financial freedom and inclusivity globally.
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Influential People in BTC and What They Think About Its Future - Eye On Annapolis
If you still think bitcoin is scarce, you’re suffering from fiat brain – Blockworks
Bitcoin is not scarce and its not going to become so after the halving next week.
Dont let anyone tell you otherwise.
Yes, Satoshi Nakamoto coded Bitcoin with a supply limit of 21 million BTC. Bitcoin supply is finite. But that doesnt make BTC, the currency, at all rare.
Were largely accustomed to this by now, but one of bitcoins most appealing features is that each coin is extremely divisible, up to eight decimal places, making 100 million satoshis (sats) per bitcoin.
Dollars meanwhile only divide out to 100 physical cents, two decimal places, or at most, 1,000 mills to three decimal places.
Read more: Why is 2140 the end of bitcoin inflation?
Now extrapolate all those sats to the current circulating supply of bitcoin. 100 million sats in 19.68 million bitcoin makes 1.968 quadrillion sats. And sometime in 2140, when you and everyone you know will be floating about the great Bitcoin citadel in the sky, there will be 2.1 quadrillion sats.
The base money supply of the US dollar is currently less than $5.9 trillion and the much broader M3 is under $20.8 trillion. A quadrillion has 15 zeros, a trillion has 12.
If bitcoin is scarce, then so is the US dollar.
For what its worth, Gizmodo tried to grasp just how large a quadrillion really is with a Sour Patch Kids thought experiment in 2013. It scaled 100 candies laid out in real life to a quadrillion virtual ones across New York City, and found a jelly cube of that size covered most of Downtown Manhattan.
Its true that only 21 million people can ever own one bitcoin each. Around 1 million addresses have at least 1 BTC right now, and that number is slowly growing, although its not knowable how many of those are owned by the same person, nor how many exchange accounts have million-dollar bitcoin balances.
Read more: Heres what the current state of Bitcoin development looks like ahead of the halving
There are also 53 million Bitcoin addresses that have one satoshi or more. If the current supply were suddenly sent to those addresses, each would net more than 37 million sats ($25,500).
With this in mind, bitcoin is not scarce. Thats the fiat brain talking it automatically goes to the largest unit when considering bitcoin as a currency. Your fiat brain does the same with dollars, euros, leprechaun gold and tacos.
The reality is that sats are just incredibly cheap right now, $0.00069 each, so few consider them.
If every sat were worth the current price of a whole BTC, then an even distribution would give every human alive $16.7 billion BTC. Do the same with all addresses containing at least one sat and each would net $2.5 trillion.
A few years back, there was a push to find a symbol to represent the satoshi but nobody could really agree.
With scarcity on the fiat brains of everyone watching the Bitcoin halving next week cryptos own solar eclipse what better time to revisit the idea of pricing BTC in sats, rather than whole coins. Plenty of those go around.
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If you still think bitcoin is scarce, you're suffering from fiat brain - Blockworks
Bitcoin world faces ‘halving’: what’s happening? – New Vision
Bitcoin miners, whose computer processors run the world's most popular virtual currency, will soon face the process of "halving" -- a quadrennial phenomenon which alters the profitability of the industry.
The looming occurrence, due later this month, has helped send Bitcoin racing to a string of recent record highs so far this year.
What is Bitcoin?
Bitcoin was created in 2008 by a person or group writing under the pseudonym Satoshi Nakamoto as a peer-to-peer decentralised electronic cash system.
The virtual unit was once the preserve of internet geeks and hobbyists but it has since exploded in popularity, with mining performed by huge banks of computers.
Bitcoins are traded via a decentralised registry system known as a blockchain.
How does mining work?
Bitcoin is created, or mined, as a reward when computers solve complex puzzles to decide which miner wins the privilege to validate the block and thus receive the reward.
The system requires massive computer processing power in order to manage and implement transactions.
That power is provided by miners, who do so in the hope they will receive new bitcoins for validating transaction data on the blockchain.
Commercial mining operations often occupy huge hangers or warehouses, and consume large amounts of electricity to power and cool the computers, which is a considerable cost on top of the equipment.
What is halving?
So-called halving is when cryptocurrency-mining companies and individuals find out the reduced payment that they will receive in return for their contribution to the system's smooth operation.
The first "halving" occurred in November 2012, the second in July 2016 and the third in May 2020. The fourth is due in mid-April.
The reward was originally set at 50 bitcoins but it was subsequently reduced to 12.5 and then to 6.25. It is now expected to drop to 3.125 bitcoins.
Why reduce the reward?
The halving process slows the rate at which new bitcoins are created, and therefore restricts supply.
The reward amount has been trimmed over time in order to implement Nakamoto's overall global limit of 21 million bitcoins.
Bitcoin was designed to go against the norms of traditional currencies, which can in contrast lose value over time when central banks increase money supply to boost economic growth.
Why are prices soaring?
Bitcoin, which enjoys increasing interest from institutional investors, has blazed a record-breaking trail this year on the prospect of halving, climaxing at $73,797.98 last month.
Halving tends to send the virtual currency shooting higher on the prospect of reduced supply.
The unit has also been bolstered this year by big moves toward greater trading accessibility. US authorities in January gave the green light to exchange-traded funds (ETFs) pegged to bitcoin's spot price, making it easier for mainstream investors to add the unit to their portfolio.
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Bitcoin world faces 'halving': what's happening? - New Vision
Reddit Floats New Theory About True Identity of Bitcoin Creator Satoshi Nakamoto – Techopedia
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Reddit Floats New Theory About True Identity of Bitcoin Creator Satoshi Nakamoto - Techopedia
Who is Satoshi Nakamoto, the creator of Bitcoin? It’s not Craig Wright according to a UK judge – PC Gamer
The identity of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is the biggest mystery in the crypto world. There's been a lot of speculation as to who the person or persons behind the first and most valuable crypto really areand there are a few claimants too. The most publicized of whom is Australian academic Dr Craig Wright. However, after years of litigation, a UK high court judge has ruled that Wright is not Satoshi Nakamoto.
The lawsuit was brought by a conglomerate of cryptocurrency companies called the Crypto Open Patent Alliance (COPA). It sought a judgment preventing Wright from continuing to claim he was Satoshi Nakamoto, and using this recognition to expand his influence over the sector.
Reporting from The Guardian includes quotes from Jonathan Hough KC, a lawyer representing COPA. He argued that Wrights claim that he created Bitcoin and wrote its whitepaper was a brazen lie and elaborate false narrative supported by forgery on an industrial scale. He also added there are elements of Dr Wrights conduct that stray into farce.
The group argued Wright's supporting evidence included provably forged documents, backdated edits and even traces of ChatGPT usage, even though ChatGPT was not released until years later.
The judge overwhelmingly agreed, unusually issuing a verdict immediately after the conclusion of the case. According to court reports, Justice Mellor said Im prepared to say this: Dr Wright is not the inventor of bitcoin" and "Dr Wright is not the author of the bitcoin white paper and he is not the person who adopted the name Satoshi Nakamoto.
Wright has spent years claiming he invented Bitcoin, fighting lawsuits across different jurisdictions. One of the well-known examples involved defending against a fraud lawsuit filed in 2018 by the estate of Dave Kleiman, a US computer scientist. Kleiman died in 2013 and some even suggest he could be Nakamoto himself. Wright lost the lawsuit and was ordered to pay $100 million in damages.
Well over a decade has passed since Satoshi Nakamoto's last publicly known message was posted to the Bitcointalk forums. The message gave no hint that he would be going anywhere. Did he die? Did he wish to step away in order to promote decentralization? Or was "Satoshi Nakamoto" a group that subsequently disbanded?
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Satoshi Nakamoto leaves behind dormant wallets estimated to contain as many as 1.1 million Bitcoins. That amounts to some $75 billion at Bitcoin's current price. If Wright was Satoshi Nakamoto, accessing those early coins would have strengthened his case immensely. He never did.
We may never know who the real person or persons behind Bitcoin are, but if Justice Mellor's judgment is the final word, the saga of "Faketoshi" is done and dusted.
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Two potential outcomes for Bitcoin if Satoshi Nakamoto’s true identity is revealed By Investing.com – Investing.com
The mysterious identity of 's creator, Satoshi Nakamoto, has been a topic of discussion and speculation since the cryptocurrency's inception. The possibility of unmasking Nakamoto has sparked intense debate within the crypto community, with many speculating about the potential outcomes for Bitcoin if the figure behind it were to be revealed.
Satoshi Nakamoto is the pseudonymous person or group that created the cryptocurrency Bitcoin. The true identity of Satoshi Nakamoto remains unknown, and there has been much speculation and investigation into who or what group is behind the pseudonym.
The name first appeared in a paper published in 2008 that detailed the design of Bitcoin. Satoshi is said to have stayed active in Bitcoins creation and the blockchain until around 2010 but hasnt been heard from since. Despite various claims and theories, the true identity of Satoshi Nakamoto continues to be shrouded in mystery.
Most believe Satoshi Nakamoto holds around 1.1 million BTC. However, this is only an estimate, with some speculating it is between 600,000 and 1.1 million, worth between approximately $43 billion to $80 billion at current rates. This amount is said to be spread across various addresses, and it is believed that these bitcoins were acquired as a reward for mining during the early days of Bitcoin.
Despite the widespread belief that these addresses belong to Satoshi Nakamoto, it is impossible to confirm with 100% certainty.
As mentioned, there have been various attempts at unmasking Satoshi Nakamoto, while some people have also come forward claiming to be the Bitcoin creator.
For example, recent reports about a UK court case involving Craig Wright have brought significant attention to the elusive identity of Satoshi Nakamoto.
A UK High Court ruled on Thursday that Wright, an Australian computer scientist, is not Satoshi Nakamoto, despite his claims to the contrary. Wright was taken to court by the Crypto Open Patent Alliance (COPA) to stop him from suing Bitcoin developers. COPA asked for a ruling that Wright was not Satoshi.
Judge James Mellor, presiding over the case, said there was overwhelming evidence that Wright was not Satoshi. "Dr Wright is not the author of the Bitcoin white paper," said the judge. "Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011."
COPAs members include Twitter founder Jack Dorsey's payments firm Block. Dorsey tweeted the judges comments on Thursday.
So, what would be the impact on Bitcoin if Satoshi Nakamoto was to be unmasked?
Gady Kohanov, the founder of BitcyClub, an educational app designed to help novice investors learn how to predict asset price movements of cryptocurrencies and commodities, told Investing.com that Satoshis anonymity adds to the allure and uniqueness of Bitcoin, contributing to its mystique and widespread adoption.
Kohanov believes the decision to conceal the identity of Bitcoin's creator was intentional and reflects a deep understanding of human behavior, as people tend to judge products based on their creators rather than evaluating the solutions they offer.
Poking the bear often leads to undesirable consequences, said Kohanov. I predict that if the world continues to obsess over uncovering the identity of Satoshi Nakamoto, we may be inviting trouble.
If the veil of secrecy surrounding Bitcoin's creator is lifted, it could shatter the idealized image that many hold of the cryptocurrency, he added, explaining he sees two potential outcomes if Satoshi Nakamoto's true identity is revealed.
Firstly, Bitcoin may lose its mystique and appeal as a secure and unassailable digital asset, argues the BitcyClub founder. The introduction of a human element, complete with past mistakes and history, could tarnish Bitcoin's reputation and erode investor confidence.
Secondly, he believes existing investors could face significant losses based on the market reaction to the potential revelation. According to Kohanov, this could potentially result in a drastic decline in Bitcoin's value.
Its enigmatic creator and the anonymity surrounding its origins have contributed to its allure, he stated. However, attaching a human face with a history, especially one potentially fraught with controversy, could irreversibly alter Bitcoin's perception and value in the eyes of future investors.
Overall, Kohanov believes that even if Bitcoin's fundamentals were to remain unchanged, the revelation of Satoshi Nakamoto's identity could trigger a seismic shift in the cryptocurrency landscape, leaving existing investors reeling from substantial losses.
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Calvin Ayre leaves X after court finds Craig Wright is not Satoshi – Protos
Calvin Ayre, a gambling magnate who has funded many Bitcoin Satoshi Vision (BSV) projects, has taken to X (formerly Twitter) to announce that he is taking a break the day after the UK High Court ruled that Craig Wright is not Satoshi Nakamoto.
Earlier this month, Ayre was confident that Craig is winning the lawsuit he has since lost. Despite this court ruling, Ayre claimed that he still knows that Wright is Satoshi.
Ayre has been the principal financier behind nChain, a firm that has attempted to market a collection of intellectual property it contends is related to blockchain.
Ayre has also reportedly provided the funding behind various other lawsuits related to BSV, including a class action lawsuit that accuses Binance and other exchanges of hurting investors by not describing BSV as Bitcoin.
Read more: Former nChain CEO claims Craig Wright is lying about Satoshi
BSV has fallen nearly 20% to less than $90, or approximately 0.0013 bitcoin for each BSV, over the last 24 hours.
Before Ayre involved himself in a Satoshi Vision created by someone a court ruled isnt Satoshi, he made his fortune in the gambling industry, eventually agreeing to plead guilty to a misdemeanor charge related to the transmission of gambling information.
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Calvin Ayre leaves X after court finds Craig Wright is not Satoshi - Protos