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Tuesday 26 April 2022

 Satoshi Nakamoto ( Founder of Bitcoin)

SatoshiNakamoto, the pseudonymous creator of bitcoin, is now the 15th wealthiest person in the world after the cryptocurrency’s recent price rally. Nakamoto’s net worth is estimated to be up to $73 billion, with crypto holdings in the region of 750,000 to 1.1 million BTC.

Satoshi Nakamoto is the anonymous name used by the creators of the Bitcoin cryptocurrency. Although the name Satoshi Nakamoto is often synonymous with Bitcoin, the actual person that the name represents has never been found, leading many people to believe that it is a pseudonym for a person with a different identity or a group of people.

Bitcoin , TURNBULL


The mystery will take us from the Land of the Rising Sun all the way across the world to a small Californian town named Temple City and then back across the Pacific Ocean to an Australian doctor.

The now iconic white paper, which was published on networking P2P Foundation, said the elusive Nakamoto lived in Japan and was born in 1975.

But when the world's media thought they had found their Satoshi Nakamoto in 2014 - he was a computer engineer living in Temple City in Los Angeles County.

And while the Japanese-American man, named Dorian Satoshi Nakamoto, firmly denied he was the shadowy force behind the infamous cryptocurrency - the plot continued to thicken.

It soon emerged that computer scientist Hal Finney, who was the recipient of the first Bitcoin transaction, lived a "few blocks" from the seemingly-oblivious Nakamoto.

About the Bitcoin:

Bitcoin was created in 2008 in the backdrop of global financial crisis. Its aim was to circumvent traditional financial institutions by means of developing secure technology for peer-to-peer online transactions. It does not involve intermediaries like banks. The founding white paper published in 2008 and was authored by Nakamoto.

Maybe: 

Nakamoto appears to have had the foresight to know that if Bitcoin was to succeed as a decentralized currency, it would need to grow organically, with no leader or figurehead. Any announcement or commentary by Nakamoto could be misunderstood or interpreted as investment advice leading to price movements. A similar scenario led to the creator of Litecoin, Charlie Lee, deciding to sell all his LTC holdings. In a Reddit post, Lee explained his decision saying, “Whenever I tweet about the Litecoin price or even just good or bad news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is a conflict of interest for me to hold LTC and tweet about it because I have so much influence.” Another reason that would explain Nakamoto’s anonymity is the fact that creators of alternative currencies are likely to attract the attention of authorities and criminals.

A resident of Hawaii named Bernard Von NotHaus created a private currency in 1998, which he named the Liberty Dollar. The currency flourished for a while but its minting operation was eventually raided by the FBI and the Secret Service in 2007. Following criminal proceedings in 2009, the currency was shut down with NotHaus found guilty of creating a “private coin or currency system to compete with the official coinage and currency of the United States.”



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