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

8,744 USD
-5.52%

ETH

272.72 USD
-8.76%

Related news

Bitcoin’s price is taking a sharp U-Turn; where have all the Libra bulls gone?

Detour ahead. After enjoying a bullish few weeks during which Bitcoin rode into five-figure heaven on the back of Libra bulls, Bitcoin has endured a rude awakening. Regulation was always going to be a prominent roadblock for Facebook. This was proven so after everyone with an ounce of authority and screen-time launched a barrage of […] The post Bitcoin’s price is taking a sharp U-Turn; where have all the Libra bulls gone? appeared first on AMBCrypto.
AMBCrypto

Why Should You Day Trade Ethereum?

Coinspeaker Why Should You Day Trade Ethereum?While Bitcoin – and the blockchain technology behind it – are the trailblazers of the crypto world, there are now many cryptocurrencies competing for supremacy, foremost amongst these being Ethereum.Why is Ethereum so Important in the Crypto Sphere?Launched 6 years after Bitcoin, Ethereum is currently the second-largest and most widely accepted and traded cryptocurrency. Why? Because the Ethereum network is an ecosystem in itself, providing very promising solutions to wide-ranging fields, from finance to health.While Bitcoin can only be described as a peer-to-peer decentralized payment system, the Ethereum network (and its currency Ether) is more than just a payment system or a digital currency.While both are based on blockchain technology, the Ethereum network went further, introducing the world to “smart contracts”. These contracts represent a piece of code, written to dictate the way online transactions happen within an application.With smart contracts, Ethereum offers endless autonomous possibilities within the Ethereum blockchain network for governments, institutions, and businesses around the world wanting to incorporate these applications into their day-to-day activities.The fact that you can build a decentralized app (dApp) on top of the Ethereum network has catalyzed the crypto-market over the last few years, leading many to describe Ethereum as a leading driver in the crypto-industry.As more and more people believe that digital currencies will become an important part of our financial system in the upcoming years, more money is being invested in cryptocurrencies every day.Day Trading Ethereum CFDs vs. Trading Ethereum through an ExchangeThe crypto market is a quite new and unregulated market, whose price fundamentals are still unclear. This uncertainty often triggers large price movement in both directions (upwards and downwards).At the time of writing, for instance, Ethereum has gained more than 69% since January but lost more than 22% this month. While this volatility is great for day traders, as they can seize upon these trading opportunities via CFDs, it is not great for people holding Ethers in a wallet for the long-term, as the tokens may yet prove to lose value over time.Ethereum token ownership is the big difference between trading Ethereum via CFDs and buying and selling Ethereum through an exchange. With CFDs, you do not own Ethereum tokens, you’re only taking advantage of the price changes of the digital currency. However, when you buy and sell Ethereum through an exchange, you own the tokens and you need to store them in a wallet (paper, hardware, online, etc.).Trading Ethereum CFDs has other advantages, such as leveraged/margin trading, the possibility of profiting from both rising and falling markets, and trading within a regulated environment with trader protections, such as negative balance protection.How to Choose the Right Broker to Day Trade Ethereum?When using CFDs on Ethereum and other cryptocurrencies, you need to be sure you’re using a reliable broker that provides the best trading conditions for your trading style.With easyMarkets, day trading Ethereum is easy and safe – you can take advantage of market volatility with great charting and trading tools, while protecting your capital with money and risk management tools, such as free guaranteed stop loss, and fixed spreads. easyMarkets is licensed in Cyprus and Australia.Remember that in choosing the right broker for your day trading strategy, you should first determine whether or not it is licensed and regulated (in the more territories, the better). Then, verify how available and knowledgeable the customer service is. Finally, test the trading platform to be sure it suits your needs (technical indicators, charting and drawing tools, variety of orders, etc.).Why Should You Day Trade Ethereum?
Coinspeaker

Square Outsources for Designers to Bring about a ’Bitcoin For Everyone’ Cryptocurrency

Coinspeaker Square Outsources for Designers to Bring about a ’Bitcoin For Everyone’ CryptocurrencySquare, Inc., the Silicon Valley-based financial services, merchant services aggregator, and mobile payment company has relayed its intention to outsource for designers who could develop a “Bitcoin for Everyone” termed Square Crypto. Jack Dorsey endorsed project seeks recognition from both dApp developers and a wide range of users’ clientele.The payment processing and social media mogul speculates that well-established user experience would go a long way to be the major driving force for crypto widespread adoption. Postulating further Dorsey stated:“Unlike traditional design roles at cryptocurrency companies, this is a chance to focus on establishing the long term design vision of Bitcoin. You will work within the Square Crypto team and engage the broader open source developer community in order to make tangible forward progress toward this vision.”The idea, however, remains that just because the medium of transaction has high usability does not guarantee swift endorsement. Maintaining the fact that if a crypto token such as ‘Square Crypto’ with the capability of been accessible by all is designed, only then, would more and more people be interested in trying it out.Adding to this, it is pertinent to note that ‘Square’ is not in any way alone in this campaign to ensure that viable user experience is of utmost importance. As an integral part of the Square Crypto team, would involve working with a group of seasoned dApp developers as a Bitcoin PM. With an entire protocol – FIO – been designed to make wallets more usable and interoperable, Square Crypto is has decided to include design into its native core, so as to proffer designers with ample opportunity to structure the way Bitcoin would attain mainstream enactment.Developers’ RequirementThe Square Crypto’s ’Bitcoin For Everyone’ developer role is ideal for designers who possess the following features:Bitcoin Proponents with a heightened enthusiasm to supervise the design methodologies that would directly boost the Bitcoin’s utility over an elongated period of time.Passionate about growing the design and development community by inspiring other developers towards contributing to open-source Bitcoin. Active participant in the production of design presentations, deliverables, copies, redlines, mocks, and assets.Possesses an in-depth understanding of the inner workings of Bitcoin.Believes in the convenience and versatility of Bitcoin as a global digital currency with a prospective futuristic approach.Square Outsources for Designers to Bring about a ’Bitcoin For Everyone’ Cryptocurrency
Coinspeaker

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.