Twitter Digs up Early Satoshi Emails

Twitter Digs up Early Satoshi Emails

Email exchanges from 2009 until 2011 between Satoshi Nakamoto and Mike Hearn, former Bitcoin developer is again the center of discussion, now on Twitter

Mike Hearn, who has left Bitcoin and is now a lead platform engineer at R3, has confirmed to Vice’s Motherboard, the authenticity of the correspondence. He shared some of the emails to CipherionX, a user in Bitcointalk forum, who published the set of five emails back in 2017.

Twitter Users Speculate

An excerpt of the email has sent some users to question what Satoshi meant when he implied that Bitcoin can already scale ‘better’ than Visa and for a fraction of the cost. Users were speculating Satoshi might have been expecting a block size upgrade to be done in 2-year intervals. Some users implied that Satoshi foresaw secondary layers and sidechains that will make the technology more versatile than being just a digital asset.

Blockchain scalability issues are being raised all the time. Besides the initial discussion with the emails-in-question, it was just last month when some users were talking about how Bitcoin is processing more transaction value than Visa and Paypal on Twitter.

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ABN AMRO Trials Bitcoin Wallet Where Bank Holds Private Keys

Dutch bank ABN AMRO has unveiled cryptocurrency storage facilities which will see its clients able to deposit Bitcoin (BTC) alongside fiat currency. 500 Clients Trial Bitcoin Storage In what appears to be a marked change of stance on the sector, officials confirmed a trial was underway with 500 account holders on social media January 22. According to marketing literature uploaded to Twitter, ABN AMRO aims to offer Bitcoin storage in the same online banking environment customers use for their day-to-day activities through a product called ‘Wallie.’ The move sees ABN first to provide direct Bitcoin tools out of the major Dutch banks, beating off competition from Rabobank, which had announced a similar project, ‘Rabobit,’ in February last year. In a sign of the experimental nature of its Bitcoin integration, ABN’s official webpage on cryptocurrency still states the bank does not support it. “…Cryptocurrencies are not controlled, issued or guaranteed by a central bank,” it warns. De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) have regularly published press releases over the past period in which they warn investors and consumers of the risks of cryptocurrencies. You can not therefore invest in bitcoins or other cryptocurrencies at ABN AMRO. Hoi! Jazeker! Heb je dit bericht ontvangen? We doen op dit moment een experiment met 500 klanten. :) ^Roeland — ABN AMRO (@ABNAMRO) January 22, 2019 Friend Or Foe? The exact reasons for the change of heart remain unknown. In its current form, the Bitcoin wallet constitutes something of a compromise; users will not hold their private keys, while the bank says it will provide insurance guarantees for up to €6,000 worth of funds. Rabobank had similarly surprised when it revealed its wallet plans, having also put out highly critical material on Bitcoin. For many cryptocurrency advocates, however, even custody ‘solutions’ such as ABN’s cause frustration rather than celebration. Consumers’ lack of control over their private keys, and hence actual control of the bitcoins, mean they are not actually embracing Bitcoin at all, some argue. In short, custodial ‘ownership’ of bitcoin goes against the reason why Bitcoin was created in the first place: removing trust and middlemen from money.  Earlier this month, an event organized by entrepreneur Trace Mayer even attempted to spark the opposite effect – making Bitcoin users withdraw all their capital from trusted third parties. What do you think about ABN AMRO’s Bitcoin wallet trial? Let us know in the comments below! Images courtesy of Shutterstock The post ABN AMRO Trials Bitcoin Wallet Where Bank Holds Private Keys appeared first on Bitcoinist.com.
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