In 2008, Satoshi Nakamoto appeared out of the ether to establish the world's first cryptocurrency. Then he disappeared just as abruptly.
developer. “I’ve moved on to other things,” he wrote, assuring that the future of Bitcoin was “in good hands.” He has not been heard from since.Today, Bitcoin is valued at more than $1 trillion, and while Nakamoto’s identity might be simply a matter of speculation for some, it means far more to others: He is said to own over 1 million Bitcoins with a current value hovering somewhere around $60 billion. That’s equivalent to about 5 percent of the total number of bitcoins currently in circulation.
Increasingly, financial services behemoths like BlackRock, JPMorgan and BNY Mellon are offering cryptocurrencies and related services to their customers, adding legitimacy to an asset that Berkshire Hathaway’s Charlie Mungerfamous white paper Bitcoin is open source, meaning its design is public. No one person owns or controls Bitcoin, and anyone can participate. While Satoshi continued to control Bitcoin’s development, users and developers congregated in Bitcoin forums to contribute code and work on the project, which had become a collaborative effort. The users running the Bitcoin software were the ultimate authority.
Suspicion also fell upon Nick Szabo, a secretive crypto expert who contributed significantly to the development of Bitcoin. Linguistic researchers analyzed Szabo’s writing as well as writing from other suspected Satoshis. The linguists claimed that there were definitive similarities between Szabo’s writings and Satoshi Nakamoto’s.even went so far as to pin Szabo as the shadowy Nakamoto, but Szabo strenuously denied the claims.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin dominance falls under 40%While Bitcoin critics claim this means that BTC is losing its first-mover competitive advantage, others are anticipating the “altcoin season” is just around the corner, or might even be already underway.
Read more »
Former SpaceX Intern Continues to Insist That Elon Musk Created BitcoinFormer SpaceX intern has published new evidence in support of his popular theory about Elon Musk being Satoshi
Read more »
An African Perspective on Why the World Needs Cryptocurrencies – Op-Ed Bitcoin NewsFor many, the use of cryptocurrencies or cryptocurrency rails to send funds across borders has proved to be the most important and perhaps even the best use case so far. cryptocurrency remittances
Read more »