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Cryptocurrencies – Bitcoin

Hello friends:

Anyone heard about bitcoin? Most likely today I would say more yes than a few weeks ago.

The main reasons of course is that big names like Elon Musk, CEO of Tesla, bought $1.5 billion worth of bitcoin on February 8, 2021, https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html, as well as PayPal, Square and many other big players.

Satoshi Nakamoto

“Satoshi Nakamoto” is presumed to be a pseudonym for the person or people who designed the original bitcoin protocol in 2008 and launched the network in 2009. Nakamoto was responsible for creating the majority of the official bitcoin software and was active in making modifications and posting technical information on the bitcoin forum.

There has been much speculation as to the identity of Satoshi Nakamoto with suspects including Dai, Szabo, and Finney – and accompanying denials.

The possibility that Satoshi Nakamoto was a computer collective in the European financial sector has also been discussed.

Investigations into the real identity of Satoshi Nakamoto were attempted by The New Yorker and Fast Company.

The New Yorker’s investigation brought up at least two possible candidates: Michael Clear and Vili Lehdonvirta.

Fast Company’s investigation brought up circumstantial evidence linking an encryption patent application filed by Neal King, Vladimir Oksman and Charles Bry on 15 August 2008, and the bitcoin.org domain name which was registered 72 hours later. The patent application (#20100042841) contained networking and encryption technologies similar to bitcoin’s, and textual analysis revealed that the phrase “… computationally impractical to reverse” appeared in both the patent application and bitcoin’s whitepaper.

All three inventors explicitly denied being Satoshi Nakamoto.

In May 2013, Ted Nelson speculated that Japanese mathematician Shinichi Mochizuki is Satoshi Nakamoto.

Later in 2013 the Israeli researchers Dorit Ron and Adi Shamir pointed to Silk Road-linked Ross William Ulbricht as the possible person behind the cover. The two researchers based their suspicion on an analysis of the network of bitcoin transactions.

These allegations were contested and Ron and Shamir later retracted their claim.

Nakamoto’s involvement with bitcoin does not appear to extend past mid-2010.

In April 2011, Nakamoto communicated with a bitcoin contributor, saying that he had “moved on to other things”.

Stefan Thomas, a Swiss coder and active community member, graphed the time stamps for each of Nakamoto’s 500-plus bitcoin forum posts; the resulting chart showed a steep decline to almost no posts between the hours of 5 a.m. and 11 a.m. Greenwich Mean Time.

Because this pattern held true even on Saturdays and Sundays, it suggested that Nakamoto was asleep at this time, and the hours of 5 a.m. to 11 a.m. GMT are midnight to 6 a.m. Eastern Standard Time (North American Eastern Standard Time). Other clues suggested that Nakamoto was British: A newspaper headline he had encoded in the genesis block came from the UK-published newspaper The Times, and both his forum posts and his comments in the bitcoin source code used British English spellings, such as “optimise” and “colour”.

An Internet search by an anonymous blogger of texts similar in writing to the bitcoin whitepaper suggests Nick Szabo‘s “bit gold” articles as having a similar author.

Nick denied being Satoshi, and stated his official opinion on Satoshi and bitcoin in a May 2011 article.

In a March 2014 article in Newsweek, journalist Leah McGrath Goodman doxed Dorian S. Nakamoto of Temple City, California, saying that Satoshi Nakamoto is the man’s birth name. Her methods and conclusion drew widespread criticism.

In June 2016, the London Review of Books published a piece by Andrew O’Hagan about Nakamoto.

After a May 2020 YouTube documentary pointed to Adam Back as the creator of bitcoin, widespread discussion ensued.

The real identity of Satoshi Nakamoto still remains a matter of dispute.

Here is the information about bitcoin-

 

Bitcoin price since 2009 to 2017 and 2018

Date USD : 1 BTC
Jan 2009 – Mar 2010 basically none
Mar 2010 $0.003
May 2010 less than $0.01
July 2010 $0.08
17 December 2017 $19,783.06  Bitcoin price rose 5% in 24 hours, with its value being up 1,824% since 1 January 2017, to reach a new all-time high.[160]

Checkout this link, https://en.bitcoinwiki.org/wiki/Bitcoin_history#Bitcoin_in_2008

This guy bought $ 27 worth of bitcoin, https://www.coindesk.com/bought-bitcoin-2009-now-worth-983000

Here is the best free charting program,https://www.tradingview.com/,

There is no stock that can move like that, not even Amazon (AMZN) or Tesla (TSLA).

Happy trading everyone…

Roy van Broekhuizen