Controversy behind Satoshi Nakamoto
Ever wondered who is that mysterious face behind the name “Satoshi Nakamoto”, the anonymous inventor of Bitcoin who is now the world’s 44th richest person? This genius inventor of the world’s most renowned blockchain technology would have been worth $19.4 billion arising from the 980,000 Bitcoins he is forecast to own.
According to John Pfeffer at the annual Sohn Investment Conference in New York, an event where Wall Street’s best hedge fund managers and investors present their best stock selections:
Bitcoin is the first viable candidate to replace gold the world has ever seen.
In May 2016, an Australian entrepreneur by the name Craig Wright made headlines for claiming to be Satoshi. While he has yet to provide concrete evidence to justify his claim, there are members in the Bitcoin community who thinks that the real identity of Satoshi is not crucial. It is a fact that Satoshi’s actual identity is insignificant to the Bitcoin network.
The network was intelligently crafted such that its transactions require no trust or central authority, provided that no entity controls too much of the “mining” computational power.
However, ignoring the real identity of Satoshi is a classic case of engineer’s fallacy. If the actual identity of Bitcoin is revealed, the inventor could clarify some misconceptions that are damaging Bitcoin’s reputation in the eyes of its investors and potential users.
Public opinion on Bitcoin would certainly suffer if Satoshi Nakamoto is revealed as Wright, whose public reactions have been incongruous. Public opinion matters as it seeps into industry perception, which in effect has an impact on the decisions made by venture capitalists and entrepreneurs. This highlights the dire repercussions of the revelation of the identity of Satoshi Nakamoto on the economy.
The Bitcoin software is open source as it can be imitated by anyone, only to release his or her own version afterwards. In reality, the Bitcoin software was carefully designed by a small, close-knit group of engineers including Satoshi Nakamoto until 2010, when Satoshi retired or disappeared, his code was accepted by miners worldwide.
My personal hunch is that, there is a possibility that Mr. Wright could be an imposter and does not have permission to access Satoshi Nakamoto’s keys. However, there is also a theory that Mr. Wright may be only one member of a community of Bitcoin investors. According to Ian Grigg, another bitcoin pundit, Craig could have been a significant part of the “brains” behind the team, but it was impossible for him to do it by himself. He claims that Hal Finney and Dave Kleiman were probable accomplices.
by Arifah Haque, Business Development
Drawing from its successful and rich experience in the stock market since 2016, Spiking is expanding to cryptocurrency trading! With its unique and powerful trading tool and its AI robot Robobull, Spiking enables traders to easily find whales and mirror the trades automatically. At Spiking, we strive to help traders make better decisions and take the steps toward fulfilling their dreams of achieving financial freedom. Check out Spiking App, Top Grossing Finance App at App Store & Google Play.
Keep in touch with us.
- View the Spiking White Paper https://spiking.io
- Join the Community https://t.me/SpikingOfficial
- Like us at Facebook https://www.facebook.com/stockspiking
- Follow us at Twitter https://twitter.com/stockspiking
- Bitcointalk ANN Thread:https://bitcointalk.org/index.php?topic=3629292.0
