If nowadays Bitcoin is gold and Ether is oil, does it really matter who Satoshi Nakamoto really is?

If nowadays Bitcoin is gold and Ether is oil, does it really matter who Satoshi Nakamoto really is?

Different scenarios of Satoshi Nakamoto reappearance, Coinbase customers withdrew more than they deposited and Tyler Winklevoss compared Bitcoin to gold and Ether to oil

Bloomberg announced that Satoshi Nakamoto is alive and writes a book

A new site belonging to someone claiming to be the real Satoshi appeared online. However, this Satoshi has a different style of writing, and tries to assure everyone he's real without moving his genesis coins, so Bitcoin community doesn't believe it.

Does it really matter who Satoshi really is? Is he dead or alive? For Bitcoin and the whole crypto community there’s no difference, as the Genie is out of the bottle and roams free. The only thing that bothers crypto community is the number of his coins. Everyone fear his ability to crash the market completely, as the million of Bitcoins is enough to empty all order books instantly, there's simply no such demand yet.

But what are the odds of Satoshi reappearing? The chances are small yet. Satoshi, even if he is still alive, is a very smart man. Why would he appear now, when the things are barely set in motion when he could appear later, 10 years later, if all predictions come true, he'll be a trillionaire, but the market would be able to absorb all his coins more easily. Time doesn't really matter here, as he can identify himself at any moment by moving his coins.

Another scenario of his appearance is to proclaim that he wouldn't sell his coins all at once, only a small portion to maintain the living. The problem is that revealing himself and keeping his coins would make him a target number one in the world, unless he hires a top-class security, like some sort of a President. But does he need it? It's more likely that we won't see him for another 10 years or never.

The number of people withdrawing their money from crypto exceeded the deposits in April by 37%

But in May it flipped again, and many people think that all weak hands were washed out during these dips.

Weak hands washed out? That happens all the time. The more it will dip, the more people will be thinking it's going to zero. They sell at loss, withdraw, feeling burned, but get in again when it rallies again, buying at peak, repeat. It's a part of a normal market cycle. That's why many people can't trade, they don't have patience.

Crypto has attracted many retail investors, who were interested in getting rich quickly overnight, but it doesn't work that way. Many smart traders cashed out during the last rally to 20K, but many who bought at peak were waiting for a rebound to 25K, but it never happened. Now as by their nature they aren't very patient, we see them selling all the way down. When they get out completely, burned by their greed, we are likely to see a beginning of a new market cycle.

But when does this dip end? We don't know. And nobody knows, don't listen to anyone's predictions.

At a recent public event, Tyler Winklevoss said that Bitcoin is better than gold

It's also fungible and its amount is limited, but it's more portable. He compared, in the same way, Ethereum to digital oil and said that Litecoin is more like a testnet for Bitcoin. Winklevoss stated that BCH is unlikely to be added to Gemini exchange, because of its aggressiveness towards the main cryptocurrency.

Cameron and Tyler Winklevoss are very influential people. It can be said that they feel the trends before they go mainstream. It was this way with social networks, and they knew Bitcoin would be big before it became big. With their acquisition of so many Bitcoins now they are billionaires, but only virtually. Can’t cash out without crashing the course. So it looks like they are trying to build the infrastructure to increase the adoption of cryptocurrencies, trading volumes, and the while market capitalization to be able to cash out in the end, selling their funds as high as possible.

No wonder that they like other crypto and don’t like BCH, as it’s very destructive for the whole crypto space. Even while Winklevoss own the same amount of BCH, they don’t support it, because they know — if something happens with BTC as a result of BCH team, nothing will take its place. It’s always great to see people with such a reasonable behavior, they build an infrastructure, making crypto a part of our everyday life, so it’s always good to know their opinion on various topics. If they succeed — we’ll be in profit too.

BTC

3,610 USD
1.38%

ETH

119.56 USD
1.83%

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Bitcoin Miners’ Refuge? Zcash Mining Hash Rate Sees 650% Growth

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