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Becoming Nakamoto: How Satoshi Created His Alter-Ego

Captain America began life as Steve Rogers. Tony Stark only created Iron Man after being kidnapped. Bruce Wayne spent seven years in ninja training before eventually returning to Gotham as Batman. We don’t know Satoshi Nakamoto’s birth name, but we do know something about the steps he took to create Bitcoin and indelibly forge his alter-ego. Also read: Satoshi’s Final Messages Leave Tantalizing Clues to His Disappearance Unmasking the Legend of Satoshi We don’t know who Satoshi is or was, but like the superheroes of today’s Marvel and DC movies, beneath the mask was a flawed human capable of extraordinary things. Deifying – or rather superhero-ifying – any one man is the antithesis of everything Bitcoin stands for. Indeed, it may have been the growing cult of Satoshi that sent Bitcoin’s creator scurrying into exile. For evocative purposes, however, the superhero metaphor works. Just think about it: One man, taking on a corrupt system (central banking). The assumption of a pseudonym to protect his identity. The need to separate his personal and professional life (there could be no Tony Stark reveal of his Iron Man alter-ego). The need to operate as a lone wolf for years with no assistance or remuneration. Constant threats to his mission and his freedom from enemies determined to see him fail. Satoshi didn’t wear a cape, but when his movie is made, it belongs in the superhero genre. Steve Rogers prepares to be transformed into Captain America 2007: Humble Beginnings “I actually did this kind of backwards,” confessed Satoshi in an email to Hal Finney. “I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper.” It’s likely that Nakamoto began work on Bitcoin before he had conceived his pseudonymous character. “The design and coding started in 2007,” he explained, likely occurring towards the start of the year. It wasn’t known as Bitcoin at that point, assuming the working title of “Electronic Cash Without a Trusted Third Party.” By the end of 2007, we can deduce that Satoshi had conceived the basics of what would become Bitcoin: a means of sending electronic payments “from one party to another without the burdens of going through a financial institution.” To achieve this, Satoshi had made a major breakthrough in solving the double-spend problem by postulating a chain of hash-based proof-of-work. This would form a timestamped record that could not be changed without redoing the proof-of-work. It was, he would later explain, “a solution to the Byzantine Generals’ Problem.” Satoshi’s eureka moment may have arrived in 2007, but Bitcoin was still little more than a concept. It consisted of a few thousand lines of incomplete code and was lacking the ingredients that would make for a decentralized currency: working software, a coin issuance schedule, block times, and most of the other components that would prove integral to Bitcoin as we know it. If Satoshi had thought the late nights and endless redrafting sessions of 2007 were exhausting, they were nothing compared to what the following year would throw his way. 2008: First Contact As 2008 ground into gear, Satoshi found his to-do list getting longer by the day. Up until now, he’d been focused on the mechanics of his electronic cash system, and would spend the first half of 2008 codifying his ideas into what would become the Bitcoin whitepaper. But he also had other pressing concerns: soon Satoshi knew he would have to break cover and go public. At the same time, he would have to conceal his tracks. The year prior, the founders of Liberty Reserve had been sentenced to five years in jail for operating its forerunner, digital currency exchange Gold Age, without a financial license. Satoshi knew he would have to create a robust pseudonym that could not be linked to his real identity. But he was also shrewd enough to recognize the need for a moniker with a certain mystique to it. Even in the unmarketable underworld of cryptography mailing lists, a memorable name will stick. Where he plucked it from, we will never know. What we do know is that Satoshi Nakamoto has a pleasing ring to it. Once Satoshi had settled on his superhero alter-ego, there could be no going back. By the time Satoshi had chosen his name, he had also settled on a name for his electronic cash system: Bitcoin. On August 18, 2008, he registered the domain bitcoin.org via anonymousspeech.com. Four days later, Satoshi made his first known contact with the world, emailing Wei Dai from satoshi@anonymousspeech.com, and including a link to an early release of the Bitcoin whitepaper. It is believed that Satoshi may have emailed Adam Back prior to this; if so, the event probably occurred earlier that August. Bruce Wayne undergoes training in Batman Begins Fall 2008: Bitcoin Begins Satoshi’s earliest interactions with the cryptography community have all the hallmarks of a fledgling superhero still getting accustomed to their newfound powers. He was modest and disarmingly humble, especially so in these initial exchanges, when no one knew who Satoshi was and had no reason to care. Through late 2008 and into January 2009, his comms were unfailingly polite: “Sorry if I didn’t make that clear” and “I’d appreciate it. Thanks, Satoshi.” Even at this stage, when there was every chance that Bitcoin would not catch on, it was evident that Satoshi had thought everything out – from his entry right through to his exit strategy. In addition to going to great lengths to anonymously register bitcoin.org and conduct all of his business from behind a proxy or seven, Satoshi appears to have begun changing his spelling to put further distance between his persona and his pseudonym. Satoshi’s writing style will be the subject of a future analysis by news.Bitcoin.com. For now, it is worth noting that his well-documented British spelling is an idiosyncrasy Satoshi appears to have acquired in 2008, with mixed results at first as he got into character. On October 31, 2008, Satoshi published his whitepaper to the cryptography mailing list, explaining “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” Even at this stage, there was much about Bitcoin that was still undecided or unrevealed, including the 21 million supply, which appears to have been finalized shortly before Satoshi shared v0.1 of Bitcoin’s code on January 9, 2009. It’s easy to assign inevitability to the rise of Bitcoin, using the gift of hindsight. The reality, though, is that in its nascent months, Bitcoin’s survival chances were probably no greater than 50-50, and even optimists would have tipped it to be adopted by a few thousand believers at best. As Mike Hearn was to later recall, “At the time bitcoins had no value at all and nobody else was using the system … It was just an interesting science project on SourceForge, one of many, which seemed destined to sink into obscurity.” Satoshi’s genius lies not only in his ability to solve the double-spend problem, or to eliminate trusted third parties. He painfully created an undoxxable persona that has, as far as we know, withstood unmasking attempts from armchair sleuths and three-letter agencies alike. Satoshi is more than a spur-of-the-moment epithet coined by a man who wanted to preserve his privacy: like a pre-fame superhero, his character was born in the darkness, forged in steel and years in the making. Do you think Satoshi will ever be found? Let us know in the comments section below. Images courtesy of Shutterstock, Marvel, and Warner Brothers. With thanks to Jamie Redman and Katie Webster for their input with this article. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post Becoming Nakamoto: How Satoshi Created His Alter-Ego appeared first on Bitcoin News.
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WTF is an SPV and Why Satoshi put it in the Bitcoin Whitepaper

Simple Payment Verification, usually abbreviated to SPV, is a system outlined in the original Bitcoin Whitepaper that enables light clients (wallets running on low-end systems) to verify that a transaction has been included in Bitcoin and therefore a payment has been made.Read the full story
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Satoshi Nakamoto Makes First Video Appearance

NEW YORK, Nov. 06, 2019 (GLOBE NEWSWIRE) -- In videos released widely today for the first time, James Bilal Khalid Caan, who created Bitcoin and block chain technology under the pseudonym Satoshi Nakamoto, shares his innovative plans to restore his original vision. James Caan has ended his anonymity because he believes what he first referred to as "a chain of blocks" is capable of more than what has been accomplished in his multi-year absence. On Oct. 31, 2008, Caan used the name Satoshi Nakamoto to share his vision by publishing Bitcoin: A Peer-to-Peer Electronic Cash System. Bitcoin presented the potential to eliminate third parties and replace trust with verification. Not since the invention of the internet had there been the promise of a broader and more fundamental ...Full story available on Benzinga.com
Benzinga

German Man Jorg Molt Claims to be Satoshi Nakamoto

So, who is Satoshi Nakamoto? This is a question that has been on the minds of several cryptocurrency enthusiasts for many years, and it has proven to be the constant enigma. Has Satoshi Nakamoto Finally Emerged? Among the people claiming to be the mysterious creator of bitcoin is Australian tech developer Craig Wright, though his claims have often been frowned upon or dismissed by analysts and the public. Recently, Wright was sued by the brother of one of his deceased BTC developers who claimed that Wright was trying to get away with not paying out the man’s bitcoin inheritance. Wright lost the case, which means that he was ordered to pay billions in bitcoin fees to the plaintiff in question. Billions he may – or may not – have depending on the validity of his past statements. Now, a new form has taken shape through Jorg Molt, who could potentially be the famed co-creator of the world’s now number one cryptocurrency. As a guest speaker at this year’s Symbiosis Institute of Management Studies in Pune, India, Molt was introduced as the “co-founder” of bitcoin, which obviously caused a lot of people to question whether that meant Molt was really Satoshi Nakamoto. Additional evidence has surfaced supporting such a claim. Apparently, Molt owns as many as 250,000 bitcoin units, which would make him a crypto billionaire considering bitcoin is trading above $9,300 at press time. Naturally, not everyone is a believer that Molt is who he claims. Block Tower chief information officer Air Paul stated on Twitter that the Institute hosted a “scammer,” while another man named Kenneth Bosak shared a video of himself on Twitter confronting Molt at World Crypto Con and claiming that Molt wasn’t who he claimed to be. Furthermore, Molt has often claimed to be associated with Andreas Antonopoulos – the famed author of “The Internet of Money – though Antonopoulos denies these claims. The author explains: Apparently, a German person called ‘Jorg Molt’ has been showing a selfie taken with me and telling people that we are friends. This is a LIE. I don’t know him at all. I have heard from others that he claims to be the founder of bitcoin and has thousands of BTC. A LIE. Who Would Do This to Themselves? If the claims are not true, one must wonder why anybody would ever claim to be Satoshi Nakamoto. Don’t they know by now that their claims are always going to be attacked by a host of crypto enthusiasts? That everything they say will be met with skepticism and that very few people will take them seriously? Negative publicity is not necessarily better than no publicity. Mort was allegedly born in 1972 and was in the German military. He was discharged in 1995 and worked as an office assistant until the year 2004. The post German Man Jorg Molt Claims to be Satoshi Nakamoto appeared first on Live Bitcoin News.
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Another Day Another Fake Satoshi

Some people go out of their way to lie. That seems to be the case of Joerg Molt, who, according to the Twitter account associated with him, is one of Bitcoin’s co-founders. After Craig Wright and all the media circus he created when he came out as Satoshi, Molt’s attempt seems way less credible. That didn’t stop him from trying to make it look more legitimate. Molt declared that he is a co-founder, playing to the widely held assumption that there was a group of people behind the creation of Bitcoin and that no individual could have created Bitcoin single-handedly. Still, his claim is quite baseless, and it has been the focus of recent outrage by other members of the community. Coming Out as Satoshi and an Investment Adviser Molt came out as Satoshi without providing any proof. His attempt to impersonate Bitcoin’s creator is so egregious that he also claims that all his tweets are investment advice. This points to a more blatantly sinister yet extremely unsophisticated scheme to claim authority as the creator of Bitcoin to then sway people into possible scams using the name of a noble character that left us a gift without any burden.   Taken from Joerg Molt’s Twitter account.   Kenneth Bosak Calls Joerg Molt Out in Public This is probably the reason why Kenneth Bosak called Molt out in public. Using his Twitter account, Bosak posted a video of a confrontation he instigated with Molt. Calling him a scammer, Bosak doesn’t back down. The verbal altercation doesn’t seem to escalate. Although Bosak doesn’t have any proof that Molt is a scammer, it is safe to say that the burden of proof is on Molt. You cannot simply go around telling people you are someone that you are not and expect not to be called out as a scammer in public. This False Satoshi Will Pass Hopefully this will all pass soon, and we will go back to a world in which we can discuss more substantial matters in the space. After Craig Wright and all the discomfort he has generated, it is time for people in the space to focus on what really matters. The identity of Satoshi Nakamoto is absolutely meaningless to the future of Bitcoin at this point, which is probably why Satoshi decided to disappear in the first place. We should always be suspicious of anyone calling himself Satoshi or claiming that they had anything to do with the creation of Bitcoin. The post Another Day Another Fake Satoshi appeared first on BitcoinChaser.
Bitcoin Chaser

Co-Founder of Satoshi Nakamoto Institute Blasts Warren Buffett for Hoarding $128 Billion

Warren Buffett’s Berkshire Hathaway is sitting on a massive cash stockpile. Pierre Rochard criticizes the billionaire investor for his strategy of waiting for the value of the U.S. dollar to rise. According to Rochard, Buffett’s strategy is no different from bitcoin HODLers. The Oracle of Omaha, Warren Buffett, has been recently grabbing headlines because of […] The post Co-Founder of Satoshi Nakamoto Institute Blasts Warren Buffett for Hoarding $128 Billion appeared first on CCN.com
CCN

Is Nick Szabo Satoshi Nakamoto? New Must-Listen to Bitcoin Podcast Interview

Peter McCormack, of the What Bitcoin Did podcast, conducts a rare in-person interview with Nick Szabo, a ‘crypto' and smart contract pioneer on many levels.  The Nick Szabo episode on What Bitcoin Did show, titled “Cypherpunks, Money and Bitcoin” was the fastest podcast to reach 10,000 downloads in the first 20 hours of its release […]
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Crypto.com and Xfers to Enable Cryptocurrency Purchases With SGD

Crypto.com will offer its users the ability to buy and sell cryptocurrencies with the Singapore Dollar. This will be the primary result of a partnership with Singapore-based Xfers, announced today at the Singapore Fintech Festival. Crypto.com users will be able to instantly buy and sell mainstream cryptocurrencies including BTC, ETH, LTC, XRP and its own MCO and CRO tokens.  An additional collaboration will see Crypto.com providing support for Xfers’ pilot stablecoin initiative StraitsX and the XSGD stablecoin. The Singapore Dollar-backed stablecoin will be introduced to Crypto.com Pay, a mobile payment solution for settlement between customers and merchants. Tianwei Liu, Co-founder and CEO of Xfers commented on the partnership:  “Partnering with a leading platform such as Crypto.com is essential to driving our vision of building an open payments infrastructure for the region. This combined pilot to adopt XSGD for MCO Card top-up and for Crypto.com spend adds to our strong foundation for the initiative, as StraitsX aims to be the common ledger for digital assets and payments- enabling transparency for payments.” Crypto.com is set to enlarge its recently celebrated base of one million users as Kris Marszalek, Co-founder and CEO of Crypto.com comments:  “We are pleased to partner with Xfers first to enable crypto purchases in SGD and then on the strategic stablecoin initiatives surrounding StraitsX and XSGD. Both solutions will increase the utility of the Crypto.com platform for our Singapore community.” The post Crypto.com and Xfers to Enable Cryptocurrency Purchases With SGD appeared first on Crypto Briefing.
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NEO, BCH, and XMR Price Prediction and Analysis: Today the Crypto Market Is Recording Some Recovery

Neo Price Analysis (NEO/USD) NEO/USD pair has today shown a massive upsurge as it maintains its price range above $10.000. Also, the bullish action is likely to increase the investor’s sentiments due to an increase in buying pressure. NEO/USD pair began the session trading at $10.626 that later fluctuated upside to rally at a high of $11.355. A medium-term period of consolidation was seen, later on, ranging between $11.409 and $11.103 respectively. The consolidation phase then pulled the price back to currently trade at $11.129 with an intraday increase of 4.5%. That is a positive sign as it gives investors high hope for better digits in the near term.   In the market, there is a bullish trend-line formed that showcased strong buying interest.  Thus, with more buyers in the market, the price is likely to jump above $12.000. However, both moving averages are converging, with the long-term SMA looking set to cross above the short-term SMA. The RSI is also declining towards the negative region, which gives a beatable sign. Therefore, the moves exhibited emphasized the incoming bearish action. Neo Price Prediction (NEO/USD) If the pair’s price break below the bullish trend line and $11.000, the number of sellers is likely to increase, which may dip the price down below $10.000. Conversely, an upside break above $11.4000, may resume the bullish momentum to trade above $12.000 in the short-term. Bitcoin Cash Price Analysis (BCH/USD) BCH/USD pair has also suppressed the bearish performance over the past 24hrs. The pair’s price found a healthy support near $283.0 that sustained the uptrend. It jumped from the opening price of $285.0 to close at $289.6 that showed strong buying interest. Despite the short-term upside momentum, bears resumed the downtrend and slightly dipped the momentum that resulted in a tight range between $286.0 and $290.0 level respectively. Currently, there is a struggle to break $290.0 resistance level; thus, more buyers are needed for further upside. Looking at the moving averages, they are both pointing north, with the short-term SMA above the long-term SMA. The RSI is also hovering above level 50, which shows an increase in buyouts. Thus better digits should be anticipated in the short-term. Bitcoin Cash Price Prediction (BCH/USD) There is a high probability of further upside correction; thus, a breach above $290.0 may correlate gains above $310.0. However, a break below $286.0 could correlate losses towards $265.0. Monero Price Analysis (XMR/USD) XMR/USD pair is up by 1.06%, as it jumped from $61.32 to $61.98 showing a bullish performance. However, the upsurge was seen at the beginning of the session, where it moved from $61.32 to a high of $62.65. The market later entered into the indecisive mode, which was followed by a sideways movement, which was reflected by the horizontal channel marked at $62.32 and $61.49.   Currently, the bulls still have the upper hand as indicated by the short-term SMA that is currently above the long-term SMA. However, the RSI is now heading southwards, giving a negative outlook. Monero Price Prediction (XMR/USD) If the price rise above $62.32 level, then further Bull Run can be seen that may fluctuate the price to rally above $64.00. Nevertheless, a break below the critical support level $62.49 may dip the momentum lower below $60.00. Cryptocurrency Charts By Tradingview Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency. Image(s): Shutterstock.com The post NEO, BCH, and XMR Price Prediction and Analysis: Today the Crypto Market Is Recording Some Recovery appeared first on NullTX.
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Pundi X to power crypto payments on Ingenico point-of-sale devices

Ingenico Group, a global payment services company, and crypto payment technology provider and network Pundi X, have announced the two parties have completed the integration of Pundi X’s XPOS software with the point-of-sale (POS) APOS A8 devices of Ingenico. Leveraging blockchain to facilitate payments Through this partnership, merchants around the world using APOS A8, Ingenico’s […] CryptoNinjas: Pundi X to power crypto payments on Ingenico point-of-sale devices
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NEO, VeChain Shoots Up As China Warms Up To Blockchain

Cryptos with links to China are seeing huge leaps as the rest of the market remains relatively quiet, thanks to some recent events that suggest that the Chinese government might be finally ready to open the doors for cryptos. It’s notable that some time back, China banned all crypto-related activities in the country, prompting various exchanges in the country like Binance to leave. A recent announcement by the Chinese president seems to have fueled a rather serious price surge for cryptos like VeChain and NEO. Granted, the two cryptos have been known to have strong links to China. China’s President publicly endorsed Blockchain development in the country, at the 18th collective study of the Political Bureau of the Central Committee held in China, President Xi Jinping delivered a speech to the members of the Political Bureau of the CPC Central Committee where he broadly stressed the importance of Blockchain as an independent innovation for technological breakthrough that must be developed in order to speed up its technological use case in the country. China Will Invest In Blockchain In a new report, it’s revealed that China is planning to invest around $2 billion in blockchain projects within the country over the next few years. This announcement caused a ripple effect, with almost the entire crypto market feeling the push. NEO gained by over 50% while VeChain has seen a cool 100% upsurge since Xi spoke. While the rest of the market also reacted positively to the news, the surge wasn’t as intense as that seen with NEO and VeChain. On average, the rest of the market managed to only gain around 17% following Xi’s pro-blockchain announcement. However, it’s still agreeable that the announcement has been very well received in the industry. In fact, following the news, Binance has expressed interest in opening up a branch in the Chinese capital, Beijing.  Chinese Media Publishing Crypto And Blockchain Content  Besides the Chinese government supporting the blockchain technology, the media, too, seems to have developed some love for cryptos. A state-owned media outlet has been publishing crypto and blockchain-related content in an effort to educate members of the public about them. In fact, one of the publications was entirely dedicated to Bitcoin and occupied the outlet’s front page.  The post NEO, VeChain Shoots Up As China Warms Up To Blockchain appeared first on ZyCrypto.
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