Most of you reading this have only ever known Bitcoin by its current logo: that white, double-striped B superimposed on an orange circle.

Orange coin has become an internationally-recognizable symbol, but Bitcoin didnt come with this branding out of the box. As with almost every aspect of Bitcoin, Satoshi Nakamoto created a rudimentary logo in the protean days of the decentralized currency and the community iterated on it until this one stuck.

You truly old-school Bitcoin Maximalists will remember the evolutions in this design. And you also might recognize some of the mathematical symbolism that underpins Bitcoins logo.

For those of you who dont, heres a little history lesson and crash course on the design choice behind Bitcoins iconic emblem.

Bitcoin Core originally featured Bitcoins first-ever logo created by Satoshi: a gold coin with the initials BC inscribed on it. The nod to gold here shouldnt be overlooked (especially considering that some people think the digital gold comparison is some crazy notion cooked up by Bitcoin extremists when, in reality, Satoshi himself was thinking of Bitcoin in this way from the start).

OGs typically took to the logo well, though one or another would occasionally make suggestions to alter it on Bitcointalk. One of these suggestions involved using the Thai baht currency symbol () and designating the initials BTC as the official currency code.

The latter caught on more easily than the former. Using the Thai baht did prove to be a convenient stopgap before something else came along, though some insisted that using it would cause confusion.

But, it could have very well inspired Satoshi to add the dollar-stripes to Bitcoins design that make it so distinguishable today. On February 24, 2010, he introduced a new logo. It resembled the gold coin he had started with, but now the symbol inscribed in the middle had two vertical strokes and, unlike the Thai baht, these strokes did not cut clean through the B they only stuck out of its top and bottom and did not cross through the middle of the letter.

Reactions on Bitcointalk were mixed. Some felt it was still too similar to the baht, while others thought it was too dull.

Is this the official logo? one observer asked. I understand how difficult it can be to make something truly professional when you dont have the skills (which I dont) or the software (which I also dont) so Im not trying to be rude, but wouldnt it be better if we adopted somethingbetter? I really am not trying to be mean.

Official or not, this served as the predominant logo until the end of 2010, when a pseudonymous commentator named bitboy dropped their first message into Bitcointalk. Humbly, the user announced that they had just wanted to drop by to say hi and to share with you some of the graphics I have done.

These graphics were free to download and placed in the public domain. Bitboy utilized the B symbol Satoshi had refined but rendered it in white and placed it on a flat, bright orange circle, tilting the symbol so that it leaned to its right.

Best Bitcoin logos Ive seen so far! one user commented. This was the general consensus, evidenced by the fact that bitboys designs would become Bitcoins defacto branding for the next decade.

Indeed, the logo bitboy cooked up has become iconic. Even people who know nothing about bitcoin may recognize it as Bitcoins universal symbol. And, like the technology it represents, it was created pseudonymously without hope of profit.

One user commented in the thread about using the Thai baht as Bitcoins symbol that we should let [Bitcoins logo] evolve organically, like a word in a language, and not worry too much about it at the early stage.

November of 2010 was still a relatively early moment for bitboy to introduce what has become the official logo, but this user also got their wish: The logo did evolve organically.

And it was also imbued with its own intelligent design. Every aspect of the Bitcoin logo has mathematical rationale behind it; every corner was architected as much for practicality and form as it was for symbology and aesthetics.

These rationale are painstakingly documented (as well as the specific instructions on how to make a perfect BTC logo from scratch) in this Medium post. The author, Phil Wilson, had helped design both the second logo that Satoshi introduced in February 2010 and the orange one that we know today.

And the one we know today is riddled with symbols.

For example, the number eight pops up multiple times in the dimensions and geometry of Bitcoins design (e.g., the B is rotated clockwise 13.88 degrees more on this later). Per the internet language 1337, an eight resembles a B, which is short for Block, according to Wilson. Many of the patterns that went into creating the Bitcoin logos design, like the circles that eventually made up the B, contain the number eight. The dimensions of other shapes (like the rectangles in the design) had a length of 12.5 (or, one-eighth of 100, thus representing eight yet again).

Since eight is B, which stands for block in this symbology, each new pattern is like adding a new block to the logo. Everytime a shape is resized (as they were multiple times throughout the design process) this reflects the changing data size of each new block.

The trebuchet font thats used in the logo was inspired by the trebuchet catapult which was a favorite weapon of Wilsons in the Age of Empires computer game. By using the vertical strokes from the dollar sign in the Bitcoin design, Wilson wanted to give the impression that those lines are not actually from the Bitcoin symbol, but from the $ symbol thats been Stamped into the ground by Bitcoin an indication of Bitcoins monetary dominance.

The coin was colored orange for a practical as well as aesthetic purpose. In the words of Wilson, it had to be a color that could be printed/replicated on both websites and print media and one that would stand out against all [other currency/payment options].

The circle was chosen because, well, a coin makes sense and a circle is warm and friendly and continuous, endless, forever just like Bitcoin.

Now, for the question that most new people probably ask: Why is the B tilted to the right? Well, theres an explanation for that, too, and rather than butcher it, here it is straight from Wilsons keyboard:

14 came about by adding an infinite number of Bs together by dividing the previous value by 10. 12.5 + 1.25 + 0.125 + 0.0125 + 0.00125 + 0.000125 + 0.0000125 + 0.00000125 + 0.000000125 + 0.0000000125 + 0.00000000125 + 0.000000000125 This comes to about 13.888 repeating. When using a drawing program that rounds the rotation angle to the closest full percent, the angle becomes 14. The angle represents the blockchain progressing into the future forever.

And, finally, the logo for the internets native currency wouldnt be complete without a reference to The Hitchhikers Guide to the Galaxy. In the logo, the orange circle is scaled to 525 percent to give it a precise diameter. Why is that? Naturally, because 525% is 12.5 x 42, according to Wilson; in other words, it is one-eigth of 100 times 42, which, according to the book, is the secret to the universe.

And why is the secret to the universe included in Bitcoins design?

This technology is supposed to be the answer to the ultimate question of life, the universe, and everything, Wilson explained.

Or, put less hyperbolically: Orange coin good.

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The History and Symbolism Behind Bitcoin's Logo - Bitcoin Magazine

One of the most enduring mysteries of bitcoin is that of its founder, Satoshi Nakamoto. Little is known about him. He essentially disappeared after releasing the bitcoin whitepaper.

Nakamotos importance to the bitcoin ecosystem goes beyond being a founder. He is a philosophical godhead of sorts and is frequently invoked in discussions relating to the future development of bitcoin. For example, each party in the bitcoin/bitcoin cash fork last year claimed to carry on Nakamotos original vision. The bitcoin founder also holds a large stash of his cryptocurrency worth $5.8 billion, according to a Time magazine article last year. Given that there will only be 21 million bitcoin in the future, Nakamotos holdings have the potential to significantly affect its price, if and when they are traded.

While there have been numerous efforts over the years, the search for Nakamoto has proved elusive. Several individuals have been uncovered or names proposed but none has been proven to be Nakamoto beyond doubt.

Here are three people who were supposed to be Satoshi Nakamoto.

This was, perhaps, the most high-profile revelation of bitcoins founder. Dorian Nakamoto was uncovered as Satoshi Nakamoto by Newsweek in a March 2014 article. Publication of the article caused a mini-hullabaloo in the crypto and wider tech community as this was the first time that a mainstream publication had attempted to find out the identity of bitcoins creator.

Newsweek claimed several similarities between Satoshi and Nakamoto. For example, both were supposed to have libertarian leanings and a Japanese connection. (Dorian, who graduated in physics from California Polytechnic and worked on classified defense projects, is Japanese-American). The articles author also claimed that Nakamoto told her that he was no longer involved with bitcoin and that he had turned it over to other people.

Nakamoto later denied the quote and claimed that he had misunderstood the question. He thought the Newsweek journalist was asking him about his previous work with Citibank.

The magazines biggest mistake was to publish a photograph of Nakamotos home. As several security experts pointed out, a cursory image search on the Internet easily revealed its exact location. While they did not believe that Dorian Nakamoto was bitcoins founder, the crypto community was aghast that the magazine had disclosed his details.

Still, the media circus was not without profit for Dorian Nakamoto. A fund set up for him raised 67 bitcoins. The fund was the bitcoin communitys way of saying thanks. He cashed the bitcoin last year and, according to one estimate, netted $273,000.

For the most part, individuals suspected of being Satoshi Nakamoto have denied the claim or remained silent. That has not been the case with Craig Wright, an Australian scientist. (See also: Has The Bitcoin Creator Been Found?)

Wright was introduced to the world at a Bitcoin Investors Conference in Las Vegas in 2015. When asked about his credentials, Wright claimed that he was a bit of everything and listed his degrees, including a Masters in statistics and two doctorates. He also said that he had been involved with bitcoin for a long time but he kept [his] head down. Subsequently, Wired magazine wrote a story featuring Wright, claiming strongest evidence yet of Satoshi Nakamotos true identity.

That evidence consisted of similarities in timestamps on Nakamotos blog entries and Wrights blog, leaked emails and correspondence with Wrights lawyer which referenced a P2P distributed ledger. Wright is also supposed to have provided direct proof of his involvement in one of the emails. I did my best to try and hide the fact that Ive been running bitcoin since 2009. By the end of this (a tax dispute with the Australian government), I think half the world is going to bloody know, he wrote. (See also: Craig Wright).

On the face of it, the proof seemed solid. But later articles doubted its veracity. For example, one of the articles questioned the validity of timestamps on Wrights blog. Another doubted his credentials. Slowly, but surely, evidence and facts emerged that unraveled the case for Wrights claim to being Nakamoto. Even Ethereum cofounder Vitalik Buterin, who is otherwise reticent about politics in the cryptocurrency world, came out against Wright as Satoshi.

But Wright remains unfazed by the criticism and has parlayed the media attention to carve out a prominent role within the crypto community. He is currently leading the charge to split Bitcoin Cash, a fork of bitcoin. He is also chief scientist at nChain, a startup that is building a competitor to the original bitcoin.

Nick Szabo is a computer engineer and legal scholar. He invented smart contracts and Bit Gold, a precursor to bitcoin. (See also: Bit Gold).In a postdescribing BitGold, he wrote about a protocol whereby unforgeable costly bits could be created online with minimal dependence on trusted 3rd parties. This is similar to the bitcoin concept where a series of bits created by a network of computers without a leader verify and validate transactions. Several blogs and a book author have suggested that Szabos breadth of knowledge and technical chops make him a suitable candidate for being Satoshi Nakamoto. For example, British author compared Szabos writing style with those for Nakamoto and found similarities. The timezones in which the posts were written also match as do references to economist Carl Mengers work. What for me is a humdinger: Szabo actually worked for Chaums Digicash in the 1990s. I even found his old Digicash email address, writes Frisby.

Continued here:

Three People Who Were Supposedly Bitcoin Founder Satoshi ...

Bitcoin has again begun moving lower, following broader financial markets down as investors count the cost of the spreading coronavirus.

The bitcoin price, which had found a temporary floor of just over $5,000 per bitcoin late last week, sunk to lows of $4,787 on the Luxembourg-based Bitstamp exchange early this morning.

Bitcoin's latest fall comes as the U.S. Federal Reserve, working with the U.K., Japan, the eurozone, Canada, and Switzerland, tried to shore up financial markets with massive stimulusbut many feel the central banks haven't gone far enough and some have warned the bitcoin price could crash even further.

Bitcoin prices had stabilized over the weekend but have now begun sliding again.

The bitcoin price surged higher when the Fed yesterday announced it would cut interest rates to a target range of 0% to 0.25% and said it would begin quantitative easing to pump $700 billion worth of cash directly into the economy.

Bitcoin briefly jumped to almost $6,000 per bitcoin before falling back almost immediatelylosing almost 10% over the last 24-hour trading period.

Elsewhere on crypto markets, other major digital tokens fell alongside bitcoin with the likes of ethereum, Ripple's XRP, litecoin and bitcoin cash all losing between 5% and 12% over the same period.

"Crypto-asset markets again seem to be mirroring the actions of the traditional markets," said Simon Peters, analyst and bitcoin expert at brokerage eToro.

"However, fear is arguably a more dominant emotion than greed at the moment, because even with this stimulus, investors are still very worried about global economies grinding to a halt due to COVID-19."

U.S. equity futures and global stocks tumbled after the Fed made its historic move, with the Dow Jones Industrial Average and S&P 500 futures each dropping to their out-of-hours trading limits of about 5% in out-of-hours trading.

"There can be no denying the Feds commitment to action but its dramatic move will initially stoke further debate as to whether the monetary medicine will work, on the economy or markets or both," said Russ Mould, investment director at stock broker AJ Bell.

Many senior figures in the bitcoin and cryptocurrency community have argued the Fed's bond-buying and interest rate cuts highlight bitcoin's superiority to traditional markets.

"The Fed just cut rates to zero and entered into QE again. Bitcoin was built for this moment," said Dan Held, U.S.-based bitcoin and crypto exchange Kraken's head of businesses development, via Twitter.

"Bitcoin is a hedge to this," cofounder of the U.S.-based Gemini bitcoin and crypto exchange, Tyler Winklevoss, said via Twitter.

The bitcoin price failed to be supported by the latest central bank measures to prop up the economy. ... [+]

"Bitcoin doesnt have a 'limit down' or 'circuit breakers' because it is a real market with a real clearing price," bitcoin and cryptocurrency expert and cofounder of the Satoshi Nakamoto Institute, Pierre Rochard, tweeted.

"Stocks and bonds are not real markets, they are Potemkin villages, their prices are highly manipulated and political."

Excerpt from:

Bitcoin Is Back In Free Fall And Dropping FastHeres Why - Forbes

Bitcoin was born 12 years ago at the height of the last global financial panic, and was positioned as a safe haven from the machinations of centralized banks. Indeed, its inventor, Satoshi Nakamoto, posted in its genesis block a newspaper headline about the British government being poised to bailout the banks a second time.

So now would seem to be a pretty good test of Nakamotos marvelous monetary machine. Hows it doing?

If the events of the past few days are any indicator, not well at all. Cryptocurrencies including Bitcoin and Ethereum, have plummeted in line with the worlds stock markets. The industry saw a $26 billion loss in 24 hours, with nearly all cryptocurrencies experiencing double-digit losses. The meltdown in the crypto markets is every bit as bad as anything in the legacy finance world. (Well, perhaps not as bad as oil, which plummeted 27% today, after the collapse of Saudi Arabias oil-cutting alliance with Russia.

Was Satoshis whole blockchain-based vision just a mirage?

Not necessarily, say a number of economists and industry observers who spoke with Decrypt today. On the surface, the major blockchains appear to be roiled every bit as much as legacy financial markets. Yet, there may be reason for optimism. The meltdown could have been far worse, and funds will certainly start moving back into the more legitimate blockchains, as financial markets begin to stabilize, some say.

Most analysts believe that a safe haven is something investors can retreat to after the stormnot necessarily during it. When a fast-moving disaster settles in, investors try to immediately cover their short positions. That causes a nearly spontaneous hole in all markets, as investors big and small reflexively liquidate.

In times of extreme stress markets go haywire, models break, and traders are left with their instincts, Matthew Graham, CEO of investment firm Sino Global Capital told Decrypt.

But he emphasized that the expression in a crisis, all correlations go to one, popularized during the 1987 stock market crash, is open to interpretation: It is not meant to be a literal truth. Different types of assets will not necessarily move in lockstep.

Black Monday losses on major stocks, BTC is the green dot in the top right corner. (IMAGE: Reddit)

In a curious kind of way, the maturing of cryptomeaning its gradual acceptance by institutional investorshas made it vulnerable to the same forces as traditional markets.

You really can't expect it to behave in an uncorrelated fashion once "institutional money" owns it, since at that point it's just another thing to sell to raise cash,Joe Wiesenthal, business editor at Bloomberg, tweeted today. He said that correlation becomes inevitable for a time because disparate assets, some rapidly losing value, now share a common distressed owner.

Some say thats overthinking it a bit. Digital economist Paolo Tasca said that the crypto sell off was panic selling, plain and simple. No one really knows how much institutional investors had to do with it, versus Main Street retail investors.

Tasca, founder and executive director of the University College London Centre for Blockchain Technologies, pointed out that in the UK, as elsewhere, people are stocking up at the supermarkets as if preparing for a war. Rationing has been introduced, and anti-bacterial gel is selling on the black market for ten times the price.

People dont know what to do and they panic and draw liquidity from the market, he said. [Bitcoin is] anti cyclical so it should behave like a safe haven. But in this short period of hysteria, its likely that well see a lot of volatility. The volatility index is very high, he said.

Tasca also pointed out that in many cases, the fortunes of crypto companies are directly related to the same world as traditional finance markets. In other words, they are not islands unto themselves.

Ripples cryptocurrency XRP, for instance, is used in cross-border trading, and directly linked to fiat currencies. DeFi applications, which typically focus on peer-to-peer lending markets, are underpinned by stablecoins, and typically pegged to fiat currencies, such as the falling US dollar.

Not surprisingly, the funds currently deployed in DeFi smart contracts is also dropping fast, according to Mati Greenspan, founder of crypto analytics site Quantum Economics.

Total USD locked in DeFi. (IMAGE: Quantum Economics)

Its virtually certain that things will get worse before they get better. The extent of the Coronavirus is unknown, Likewise, we don't know whether, like the Spanish flu, it returns for a second, far more lethal season. For that and many other reasons, in the near term Tasca and others say that dabbling in crypto might seem as reckless as gambling with the rent money.

Hedge funds may want to reduce their exposure to the crypto market, which has higher volatility than the money market, Tasca said. In this period, they may prefer the money market rather than crypto market products."

Tej Parikh, Chief Economist, at the Institute of Directors, the UKs foremost organization for business leaders and entrepreneurs, agreed.

"The global economic shockwaves caused by the Coronavirus outbreak have jolted investors away from volatile equities, he told Decrypt. The very real, and uncertain, impacts of the pandemic on households and businesses will most likely see financiers run for traditional safe haven assets like gold and government bonds, while there will be some trepidation over how cryptocurrencies might perform, he said.

Edward Cartwright, Professor of Economics at De Montfort University, in the city of Leicester, UK doesn't believe that cryptocurrencies are a safe haven, but he told Decrypt that they may now seem less risky compared to the alternatives.

"If cryptocurrencies are seen as an asset that can insulate from the Coronavirus shock, and the almost inevitable slowdown in the world economy, then their price is going to go up," he said. "If, however, they are seen as avoidable risk at a time of uncertainty their price is going to go down. Evidence suggests that a recession makes investors less willing to take risks. So, I would not be expecting a flight to cryptocurrency. But, equally, I do not see any reason for a dramatic fall in price. "

Yet some say that once things settle down a bit, crypto could become a safe haven yet. We could be entering a transitionary period, with Bitcoin defining an asset class that behaves like a hybrid of technology stocks, and gold.

This is an insightful observation that I found true, especially during big market sell-off days when Bitcoin moves more with tech stocks then the gold-safe-haven trade, tweeted Gabor Gurbacs, CEO and digital asset strategist at VanEck/MVIS, a global asset manager.

Graham pointed out that the primary digital currencies actually fared surprisingly well this week.

In times of distress its only natural to have massive volatility, he said, noting that he was kind of pleased to see how bitcoin and ether performed in the meltdown. An unhealthy result would have been if BTC slipped below $6,000, he said.

Said Graham: With BTC and ETH still above the lows of late last year, at this point we see only a maturing asset class that is increasingly integrated with the rest of the financial world.

Even Tasca was somewhat bullish. "Generally, I think Bitcoin is still a safe haven. I dont think theres any reason to believe the contrary, he said. There is no signal that entering bear market or that the market will crash in 2020.

Volatility in the energy markets could impact the cost of mining, and, potentially, increase the concentration of mining pool capacity to keep business profitable, said Tasca. But the signs are that the evolution of Bitcoin will continue, despite some very rough times which may lie ahead.

Joseph Lubin, co-founder of Ethereum and CEO of ConsenSys, the Brooklyn-based incubator (which funds Decrypt), tended to shrug it off this week. In many ways, it was just another day in crypto.

The best way to express it: When the shit hits the fan, all correlations go to 1 or -1, Lubin said.

Link:

Bitcoin can still be a safe haven, experts say - Decrypt

The CoVid-19 pandemic led to pressures to work from home. Despite the price crash, the crypto economy has some positive examples.

For years, the crypto space has operated as a global, interconnected network of opinion leaders and developer teams. Bitcoin (BTC) appeared and spread through a loose forum community, and to this day, no one has met its creator, Satoshi Nakamoto, in person. In the wake of the coronavirus outbreak and companies forcing their staff to stay indoors, work from home searches have suddenly exploded on Google, and remote work hashtags showed that regular business was behind the curve.

Over the years, crypto projects cropped up, tapping developer and marketing talent from across the globe. The crypto space turned out into a big work-from-home operation, where remote teams were the norm, rather than the exception.

Even in a bear market, crypto projects continue to operate, offering opportunities for passive income and community engagement.

Crypto startups have worked on use cases such as time monetization. Other projects already rode the wave, finding solutions for secure file sharing.

Whether the coronavirus pandemic will lead to more remote work is anyones guess. But the culture of distributed teams is gaining experience and technological solutions every day. All the while, BTC and other crypto coins have long ago broken the borders of payments, where banking systems still lack reach or are prohibitively expensive.

But crypto assets are not all about passive income or thinly veiled Ponzi schemes. Developer teams, if they ever worked in an office, were the first ones to be sent home and continue their productivity. For most open-source, distributed crypto projects, even the biggest ones, a remote team is the norm. Ethereum, a project that is instrumental to the crypto space, has been guided by a remote developer team.

crypto and ethereum developers working remotely

Blockchain is also, in itself, a technology for remote consensus and record-keeping. Added to the open-source ethos, the crypto space has given an example of how the knowledge economy can continue to work remotely.

Exchanges are also showing a model of working at all times, with a distributed team. The recent crypto crash was partly due to the fact that trading and transactions dont have any time limits, and are open 24/7. Trading is also possible to anyone, and although risky, has created trading opportunities despite geography. Even after the market slide, most exchanges mark significant activity.

What do you think about the latest work-from-home trend? Share your thoughts in the comments section below!

Images via Shutterstock, Twitter: @TheCashChucker, @RaistilinCrypto

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Forced to 'Work from Home' due to Covid-19? Crypto Can Help - Bitcoinist

Source: iStock/cmannphoto

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Keld van Schreven is the Managing Director and Co-Founder of KR1 plc, the London listed cryptocurrency and blockchain investment company.____

Central Banks are excited by Bitcoin's dramatic innovation, its blockchain technology and the potential for Central Bank Digital Currencies (CBDC). However, they are also cautious as Bitcoin has a reputation as the badlands of financial services, used by drug dealers and money launderers, not upright citizens and certainly not central bankers.

So after the Bitcoin innovation what have been the catalysts for Central Banks to act? One word. Libra. Facebooks Libra caused Central Banks to panic around the world by announcing it would launch its own digital currency. Libra could become the global default crypto with two billion people having instant access to it just by having a Facebook account. Governments around the world threw their arms up in horror. France and India immediately banned it. Libra doubled governments efforts to respond to protect their interests. China reacted to the Libra launch quickly.

Libra has introduced a concept that will impact the traditional cross-border business and payment system, said former Peoples Bank of China (PBoC) Governor Zhou Xiaochuan.

China saw Libra as an American Imperial economic invasion and responded by fast-tracking its own digital currency known as digital currency electronic payment (DCEP) system. In the early days of digital currencies, the PBoC did not outlaw assets such as Bitcoin, but rampant speculation and wild price swings led China to implement a blanket ban on trading and new initial offerings of digital currencies. PBoC created a dedicated institute to explore a CBDC. China is well suited to a CBDC as most payments are now digital through apps operated by Alipay or Tencent.

The prize to get a functioning CBDC in a nation's economy is huge. The Bank of Englands own research suggests a 3% bump to GDP if you run a Central Bank Digital Currency (CBDC), roughly the same boost to the economy as a big tax cut. The Bank of Englands recent whitepaper states there are plenty of benefits of CBDCs around interest rates, stimulus, and accountability. This is highly compelling.

Just like the Portuguese Escudo, Dutch Gulder, English Pound and U.S. dollar became global reserve currencies in their time, in paper terms, its now the turn of a digital currency to take the crown. This is the reason CBDCs are a hot topic. Whoever wins, wins big therefore justifying their Central Banks move to launch these currencies. While the Facebook founder Mark Zuckerberg was up in front of Congress explaining himself and being blocked, the Chinese were quietly rifling through the whitepaper and making plans. This tension between America and China has resulted in a classic superpower slugging match with CBDCs.

Watch the latest reports by Block TV.

Where is the rest of the world? In fact, some of the worlds major central banks are already teaming up to assess potentially developing their own digital currencies. A group has been formed in order to share experience as they assess the potential cases for central bank digital currency in their home jurisdiction'. The body will be made up of the Bank of England, the Bank of Canada, the Bank of Japan, the European Central Bank (ECB), the Riksbank, and the Swiss National Bank, along with the Bank for International Settlements. Noticeably absent from the group is the Peoples Bank of China and yes you guessed it America. The body forming is a great move. The reality is the group will move even slower than PBoC and Libra and these Central Banks may get left behind, and lose first-mover advantage.

The U.S.s Federal Reserve has so far largely distanced itself from the concept of a CBDC. In December, Treasury Secretary Steven Munchin said he and Fed Chairman Jerome Powell see no need for the U.S. to create a digital currency in the near future. Yet Powell has said the Fed is monitoring the activities of other central banks to identify potential benefits. There is further skepticism from Canada and the Netherlands The essence of the [distributed ledger technology] infrastructure is that no single party should be trusted enough, but dont we just trust a central bank to maintain the integrity of the global ledger? said Harro Boven, policy advisor in the payments policy department of the Dutch central bank. Satoshi Nakamoto, the legendary mysterious inventor of Bitcoin would say not.

In England, the debate around CBDCs intensified last year when the outgoing Bank of England Governor Mark Carney laid out a radical proposal for an overhaul of the global financial system that would eventually replace the dollar as a reserve with a Libra like CBDC currency. Carney felt fully justified to explore the possibilities. In Europe, the ECB policymakers have already discussed the idea of issuing their own CBDC. Christine Lagarde, the ECBs head, has long argued that central banks should consider the merits, which she believes include public goals such as financial inclusion, consumer protection, and payment privacy. In Sweden, they are moving quickly to adopt a CBDC Sveriges Riksbank, the central bank of Sweden, which recently announced a pilot for a digital krona, or e-krona and the main reason is to be ready for a cashless future.

But where does this leave Bitcoin and other non-CBDC cryptocurrencies in relation to several functioning CBDCs? Firstly, its a great endorsement for all of crypto, rubber stamping their benefits, although the paradox is that this endorses decentralization and control away from Central banks. Secondly, fully functioning CBDCs are a tide that will lift all crypto boats, many skeptics will get off the fence and invest time and money into crypto. CBDCs will create a new boom for Decentralised Finance (DeFi) services as these new CBDCs are digital and will interoperate with DeFi services, greatly increasing volumes. Bitcoin and other major cryptocurrencies are decentralized and not owned by a central organization and therefore inherently more trustworthy. Bitcoin was a response to the 2008 banking crisis and no casino bankers operate in Bitcoin.

But the ultimate question is - who would you trust, incorruptible decentralized currencies like Bitcoin, or centrally controlled and potentially co-opted Central Bank Digital Currencies?

See the article here:

The Race Is On To Become the World's Digital Reserve Currency. Who Will Win? - Cryptonews

Cloudbet, the online bitcoin casino platform is happy to announce the launch of Ethereum betting on its platform. The customers will now have a faster and cheaper alternative to Bitcoin or Bitcoin Cash.

As per previous speculations, it is said that Bitcoin can be summarised as unforgeable digital scarcity. To keep up to this tag, Satoshi Nakamoto made certain compromises on the speed of transaction and on-chain scalability. It has further opened a lot of opportunities for new crypto variants, for example, Ethereum offers faster and economically feasible transactions. Moreover, the speed of the Ethereum transaction provides better advantages for betting at Cloudbet.

Cloudbet is well known for providing the customers with the easiest means to bet with Bitcoin and now with Ethereum. To bet with Ethereum the user has to make a Cloudbet account, then forward Ethereum to the Cloudbet wallet directly or through a smart contract.

Cloudbet is one of the very first Bitcoin sportsbook and casino operators in the crypto market. Cloudbet is completely licensed and regulated by satisfied customers in over 100 countries. Cloudbet aims to offer unbeatable value for many leagues, such as UCL, EPL, NBA, NFL. Cloudbet also has an exciting Bitcoin casino.

Read more here:

Ethereum Betting Now Launched By Cloudbet - TimesOfCasino

Ten years after the worlds first cryptocurrency appeared online- there is still no concrete evidence to the identity of its creator: Satoshi Nakamoto.

Bitcoin was designed as an open-source software and released to the public in 2009. It was created with openness in mind and designed to be a decentralized community driven project. Functioning on an open ledger that is accessible to the public- Bitcoin is an open-source project which has had hundreds of developers work on it over the years. With that being said, Bitcoin was first started by one person and that person is one of the worlds greatest mysteries that still remains unsolved.

The History of Bitcoins creation and Satoshi Nakamoto

The first step in the creation of Bitcoin occurred in 2007 when Satoshi Nakamoto wrote the Bitcoin code. In November 2008, Satoshi Nakamoto published the Bitcoin White Paper, which laid the foundations for the Bitcoin protocol. He wrote this whitepaper and created Bitcoin in direct response to the financial crisis of 2007-2008 which nearly destroyed the global economy. Centralized banking institutions and corrupt individuals nearly destroyed the entire world economy and the worst part about it was that no one was held accountable or punished. Bitcoins first block aka the genesis block was then mined On January 3rd, 2009. This moment marked the creation of Bitcoin and cryptocurrencies as a whole.

Satoshi and the invention of Bitcoin began to spread thanks to the internet and a community grew supporting his vision and invention. This community helped grow Satoshis vision and Nakamoto worked closely with his newly formed community. Together Satoshi and the Bitcoin community modified and created the underlying bitcoin protocol. Eventually, after two years of working on Bitcoin, Nakamoto handed the helm of the project to Gavin Andresen. He then ended his involvement with the Bitcoin project in December of 2010. Nakamoto returned in the Spring of 2011, to leave one final message, stating that he had moved on to other things, and that Bitcoin was in good hands with Gavin Andresen and everyone. This was the last message that Satoshi Nakamoto ever left.

The mystery behind Nakamotos identity has only grown over the years since his involvement with Bitcoin and there are many people who speculate on the identity of Nakamoto with some even claiming to be him. Satoshi Nakamoto claimed to be Japanese, born on April 5, 1975 and it is unknown whether Nakamoto is male or female. In fact, many people speculate that Nakamoto may even be a group of individuals vs a single entity.

In an age where information is available to anyone and so widespread, Satoshi Nakamoto managed to keep his identity a complete secret for over a decade. If Nakamoto is indeed a single individual, then he or she owns approximately 5% of the worlds Bitcoin supply, making him/her one of the richest people in the world. The implications of this wealth are considerable- if Satoshi Nakamoto were ever to sell the rumored 980,000 Bitcoins in his or her possession the price of Bitcoin could potentially become more volatile than it already is. However, many people believe that these funds will never be used or recovered as the funds have not moved since Bitcoins inception. This is why many people believe Satoshi Nakamoto is dead and his funds are lost forever, further decreasing Bitcoins total supply and increasing its scarcity.

Ultimately, the world may never know who created Bitcoin and Satoshi may remain anonymous forever. While there has been plenty of speculation regarding Nakamotos identity, all the guesses so far have led to dead ends. Satoshis silence since the Spring of 2011 means we will likely never hear from him/her again. The mystery of Satoshi only aids in marketing Bitcoin as people speculate and share their thoughts on the matter. The anonymity of Satoshi also helps aid in Bitcoins decentralized nature as there is no true figurehead or leader to take credit for its design. One thing is for certain Satoshi was a genius whose vision of a decentralized payment system is just starting to come alive. As the debt bubble continues to inflate and centralized financial corruption increases, Bitcoin gains more followers and Satoshis vision becomes more widespread. Bitcoin has the potential to solve a lot of the problems which we face today and it remains to be seen whether the world accepts Satoshis vision or if centralized powers retain the control they have over society.

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Who is Satoshi Nakamoto? - The CryptoCation

Bitcoin drew major influences from prior cryptocurrency attempts, but was remarkably different, in very interesting and profound ways.

The major selling point of Bitcoin, off the bat, was that it was decentralized. It was a digital currency that could be sent to and received at an account address, and the owner of the currency would have a digital key to unlock it. This key was kept privately, and could be stored on a CD or a flash drive... anything with storage, really.

But, from the beginning, it was apparent that Bitcoin fixed one of the major flaws people had with digital currency. Often times, a digital-type of currency led to double-spending. That is when you have a digital coin, for example, and you simply make a copy of it. In prior cryptocurrencies, people who copy the currency once or twice over, and then keep spending the copies. It'd be like you being able to photocopy a dollar bill; it devalues the currency.

To fix this, and become prominent on a global stage, Bitcoin needed to stand apart. This is where peer-to-peer networking came in.

Peer-to-peer networking became the main attraction for Bitcoin, because it created type of public ledger known as the blockchain. The blockchain is constantly being updated, with transactions being added to the blockchain, and the system using a peer-to-peer network to constantly update it.

Essentially, the system operates with no central figure. There's no server, where all of the money is stored. It's stored privately, but each transaction is a public record, and added to the endless blockchain. From there, the peer-to-peer network - every computer connected to the network - keeps the blockchain updated through a process known as "mining."

Bitcoin mining is a system that adds transactions to the blockchain, but also incentivizes users of Bitcoin to remain active. Those that support the blockchain are rewarded in Bitcoin, which is given out for every block added to the chain.

I know that some of you may be somewhat overwhelmed right now, and trust me - you're not alone. I'm a total newbie when it comes to cryptocurrencies, so this is very confusing for me, as well. However, all you really need to know is that Bitcoin was a currency created to cut out the middleman: it made every transaction public, and kept power in the hands of those that participated in the system.

Essentially, it took the "bank's" role from the banking system, and made it an open-source, peer-to-peer network.

Satoshi Nakamoto seemed to be aware that Bitcoin would remain worthless if a cap wasn't established on Bitcoin, so the system was launched with an end goal in-mind. The system was created to reward a grand total of 21 million Bitcoin, when all was said and done, but that will - hopefully - not be for many, many years. Each single bitcoin can be reduced in millions of parts, and the most basic units - 100,000,000 units for every Bitcoin - have since become identified as "Satoshi," named after the currency's founder.

Bitcoin miners - those that participate in the system - can earn bitcoin by mining, but early users were the most well-rewarded. For every 210,000 additions to the blockchain - the public ledger that keeps transactions open-sourced - the reward for miners gets cut in half, and that will continue until all 21 million Bitcoins have eventually been "mined."

It's a very complicated system, and it's one that I hope makes sense for those of you that are as inexperienced as I am. However, it was thoroughly analyzed by the founder of Bitcoin, and seems poised to remain prominent for some time.

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Satoshi Nakamoto Unresolved

A new website, Got Satoshi, claims to know the true identity of Bitcoin creator Satoshi Nakamoto. The reveal is scheduled to happen today, on May 14, during the annual Consensus conference in New York. Probably created as a publicity stunt, the person behind the website got more than he bargained for when the wrath and ridicule of the crypto community descended upon him.

While the true identity of Satoshi Nakamoto, still is and probably will remain unknown, there has never been a shortage of people claiming to be the creator(s) of Bitcoin. The latest high-profile figure that has tried to claim the Bitcoin throne was Craig Wright, the controversial creator of Bitcoin SV. Seeing how Wrights assertions that he is, in fact, responsible for creating Bitcoin have widely been ridiculed, its likely that anyone making such a claim will face similar skepticism unless overwhelming evidence is provided.

However, it seems that the judgment and ridicule Wright has faced did not deter Got Satoshi, a newly launched website that claims to be run by Satoshi Nakamoto himself.

The one-page website hosts a countdown timer that runs out on May 14, when the true identity of Satoshi will allegedly be revealed. The website itself is short on detail, but the person behind the page has been active on Twitter. The user posted random thoughts and updates on the progress of the countdown timer in just over 20 tweets but has not interacted with any of his 5,700 followers.

While the Got Satoshi campaign failed to attract a large audience, many were left wondering what its purpose is. Guesses ranged from a marketing campaign for a sketchy ICO, an internet troll enjoying themselves, to John McAfee avoiding legal issues.

McAfee, the creator of the eponymous anti-virus software and Bitcoin maximalist, predicting that BTC will hit $1 million by 2020, has previously claimed to know who Satoshi Nakamoto is. Last month, he promised to either reveal his identity or try and persuade Nakamoto to do it himself, but has reportedly backed out of the effort to avoid legal troubles.

The person behind the Got Satoshi twitter account said McAffee might be aware of who he is, but has been firm in his assertion that he is not Craig Wright. Got Satoshis tweets were widely ridiculed, with many Twitter users doubting that Satoshi would announce his identity in such a sensationalist way.

The reveal is scheduled for 15:50 GMT on May 14, right in the middle of the annual Consensus conference in New York. And while the event wont lack any drama, it will most likely lack the only proof that would convince everyonethe use of Satoshis private Bitcoin key.

See Got Satoshis (disappointing) grand reveal here.

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Will the identity of bitcoin creator Satoshi Nakamoto be ...

One sector that is shaking up the entire world now without a doubt is that of crypto businesses. Still shrouded in near-absolute mystery is the purported brain behind bitcoin, Satoshi Nakamoto.

Of late, Craig Wright claimed that he is the real Satoshi Nakamoto and he insisted that he was saying nothing but the truth despite some derisive responses to his claim.

However, it looks like Wrights claim has been scientifically rubbished forever. This is because Wrights claim to be the brain behind bitcoin was taken up by Jameson Lopp, the chief technology officer of CasaHodl and by the time he was finished with his analysis, it became abundantly clear that Wright was not only lying but that there was no way he could possibly be Nakamoto.

The most interesting thing about this discovery was how Lopp went about the whole thing he made use of timestamps.

Lopp took the time to examine the online activities of both Satoshi Nakamoto and Craig Wright. He broke it down into hourly snippets from 2009 to 2010. During this timeframe, it is widely believed that the real creator of Bitcoin Satoshi Nakamoto was communicating live on some selected bitcoin platforms.

Lopp examined the activities of the two individuals and then went ahead to create explanatory visual charts and representations. A quick glance at these charts shows that Wright goofed big time because the charts show very clear differences and a reflection of the activities of two different people.

Lopp categorized the activities of Satoshi by making use of post and code commits, and he used the posts made on blogging platforms to track that of Wright. In the chart, the geographical location of Nakamoto is not displayed but it is clear that Wright was based in Australia as at the time and thus his time zone could be scrutinized on a deeper level.

In examining the charts based on the activities by the hour, it was seen the Nakamoto was least active on the forums between 0600 and 1300 UTC, and he was busiest online from 1600 to 2300 UTC. While observing the activities of Wright, one can see that his own had numerous highs and lows a clear display of intermittent activity.

His was also low from 1200 to 1900 UTC with zero activity from 1500 to 1700 UTC. When you realize that Nakamoto was busiest from 1600 to 2300 UTC and Wright was absent from 1500 to 1700 UTC, you will surely not take his claim seriously.

Further analysis of the periods of activity (assuming Nakamoto is based on the eastern coast of the United States of America reveals a normal sleeping pattern. If the western coast of the United States is also used as the exact location of Satoshi Nakamoto, the outcome is also practically the same totally different from what the stats are showing for Wright.

As a result of the fact that Wright is based in Australia, Lopp used the Australian time zone calculations to nail him and a comparison of the two sleeping patterns show that while Nakamoto had a normal and predictable sleep pattern, Wright had a more disorderly and irregular sleep rhythm while his posts emanate from the eastern portion of Australia.

When another member on the thread named Dr. Funkenstein revealed another collection of charts on the same discussion board, it only corroborated what Lopp was saying all along. The new set of charts point to the pre and post activities of both Nakamoto and Wright.

Once again, the differences are just too clear and there is no way both can be the same person. A deeper analysis of further online activities by Satoshi Nakamoto and Craig Wright only makes more nonsense of the claims by the latter.

That the analysis above showed the possibility that Nakamoto, the purported real founder of the incredible bitcoin could be living on the eastern coast of the United States of America has led to renewed excited on who the enigma really is.

In fact, the hunt for Nakamoto seems to be on an increased tempo of recent. Lately, John McAfee, the charismatic and unpredictable brain behind the McAfee antivirus package declared that he not only knows who the real Nakamoto is but that he was going to expose him. Reportedly, Nakamoto is totally not excited with the possibility of his exposure and has reportedly expressed his fury to McAfee.

An unveiling of Nakamoto will have serious consequences on the bitcoin world. First, the news will have an instant impact on the value of the bitcoin itself and the next controversy will surround the one million bitcoins said to be in the custody of Nakamoto. Whatever the case, it seems the world has to wait for the reclusive genius.

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Craig Wright's Notorious Satoshi Nakamoto Saga Continues ...

Bitcoin-Induced Demonetization

This article is about the possibility of Bitcoin-induced currency demonetization, or hyperbitcoinization, which is what would happen to any hapless currency that stands in Bitcoin's path of total world domination. If this happens, the currency will rapidly lose value as Bitcoin supplants it. What would such an event be like and how can it be understood economically?

Demonetization refers to a process by which people cease to use a good as a currency, and hyperinflation is a kind of demonetization when the government inflates the currency at an accelerating pace. Hyperbitcoinization is a different kind, though it will appear (superficially) similar. In both kinds events, prices in the doomed currency will skyrocket until it is no longer a currency at all.

There are two essential differences between hyperinflation and hyperbitcoinization. The first is that a currency hyperinflates with restricted competition from other currencies, whereas hyperbitcoinization happens because of competition with Bitcoin. This is because capital controls are much more effective on other fiat currencies than on Bitcoin, so it is easy for Bitcoin to cross borders and compete with anything.

The second is that in a hyperinflation, the government expands the money supply to outpace people's inflation expectations. Demonetization occurs as a result of their destructive interaction. Whereas a hyperbitcoinization event need not be accompanied by any change in the supply of either currency.

As the government forms a habit of inflating the money supply, its people form a habit of anticipating rising prices. This prevents the government from gaining as much each time it inflates. Thus, to get the same kick, the government must inflate more. The money loses value once people anticipate such heavy inflation that they can't spend it fast enough and it no longer functions as a currency.

Hyperinflation is an entrepreneurial act on the part of government, in the sense that it involves a continually changing intervention that prevents an equilibrium from forming. The government must continually alter its own behavior to stay ahead of its people's. The moment they begin to anticipate its future policy, the government must change the policy by increasing the rate of inflation.

Hyperbitcoinization is a voluntary transition from an inferior currency to a superior one, and its adoption is a series of individual acts of entrepreneurship rather than a single monopolist that games the system.

Based on these two differences, I make two predictions about a hyperbitcoinization event.

A hyperbitcoinization event will be much quicker than a hyperinflation event. I have two reasons for this. First, the government will have a much greater difficulty preventing bitcoins from entering the country due to the impotency of capital controls upon it. Second, hyperinflation is inherently an attempt to fool people, whereas hyperbitcoinization is quite regular and predictable (at least by comparison). Therefore people will more easily see that they had better switch over. Thus, as fast as hyperinflation is, hyperbitcoinization will be even faster. It will happen much faster than you expect.

Hyperbitcoinization will not disrupt the economy to nearly the same degree as hyperinflation. The currency is the instrument of the division of labor, and hyperinflation makes it unreliable and forces people to use worse alternatives. In a hyperbitcoinization event, people switch from a fundamentally inferior currency to a superior one, whereas in a hyperinflationary event people will only switch to a new currency once the old currency becomes worse than the next best alternative, such as gold or detergent. Hyperbitcoinization should be accompanied by a rapid improvement in productivity and wealth.

Hyperbitcoinization will probably be a confusing time for everyone, like a second adolescence. However, once it is over, no one will be able to imagine how we got by with the earlier system.

(Original artwork by the author)

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Hyperbitcoinization | Satoshi Nakamoto Institute

LONDON, March 4, 2020 /PRNewswire/ -- Late February saw 800 delegates turning up to CoinGeek's 5th Conference in London and the New York Conference is already open for pre-registration. Even the harshest cynic would find it hard not to be impressed with some of the innovations that are being built on the Bitcoin SV blockchain.

Probably the most exciting announcement that was made come from EHR Data. EHR Dataannounced it will use the Bitcoin SV blockchain to create a Global Patient Record for the Healthcare Industry. EHR Data is a subsidiary of the National Health Coalition, created to deploy, and operate, utility to address the opioid crisis in the US. This puts the patient in control of their healthcare data. They intend to work with nChain to migrate NHC's 41 years of healthcare experience to Bitcoin SV.

One reason why this is such an important development is it perfectly highlights the scalability of the BSV blockchain. EHR Data feels the BSV blockchain is the key to deliver a Global Electronic Healthcare Record, and, as you can imagine, this medical data will be a voluminous amount - no other ledger has the scope to handle the sheer volume.

Another exciting enterprise project came from Norwegian company UNISOT, which unveiled Seafood Chain a supply chain management system to track seafood. It also announced its namesake UNISOT enterprise blockchain platform for supply chain management.Both products are built on the BSV blockchain.

The conference also enjoyed keynote speeches from renowned Wall Street analyst Thomas Lee, Managing Partner of Fundstrat Global Advisors. In addition to a cryptocurrency investment overview from Lee, his colleague David Grider summarised their firm's recent market research reportabout Bitcoin SV and its big vision for an on-chain Internet.

Another keynote speaker was famed economist, best-selling author and technology visionary George Gilder who talked about the power of Satoshi's blockchain and shared how he came to the conclusion that nChain's Chief Scientist, Dr. Craig S. Wright, is Satoshi Nakamoto.

Speaking of Bitcoin's creator, Dr. Wright (Satoshi Nakamoto) spoke several times to correct misunderstandings about Bitcoin and detail his vision for the Metanet a better, more commercial Internet for users powered by the Bitcoin SV blockchain. The first day of the conference also saw Paul Rajchgod, Managing Director, Private Equity for Ayre Group set out guidelines for developers and business looking for investment from Calvin Ayre.

To date Calvin's investment portfolio includes: Tokenized, Unisot, nChain, Kronoverse, Handcash, FRNT Financial, Streamanity, Pixel Wallet, MoneyButton, TAAL, CentBee, CoinMe, sCrypt, Planaria Corp and Core Scientific.

But it is not over, Ayre Group Private Equity is ready to take on more investment.

Investment and interest in BSV is growing; why?

Institutional investors have been on the sidelines, waiting for a proven enterprise Blockchain. With BSV, this now exists.

Institutional money invests in businesses they hope will scale globally, with sustainable margins; in big business, you scale or you die.

The various enhancements only on BSV, which all point to massive scaling, have started to attract enterprises big and small, and the investment is following.

See you in New Yorkthis October.

View original content:http://www.prnewswire.com/news-releases/coingeek-conference-rolls-on-to-new-york-in-october-2020-301016272.html

SOURCE CoinGeek

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CoinGeek Conference Rolls On To New York in October 2020 - Yahoo Finance

When it comes to playing casino online games, players are open to various forms of currency. Cryptocurrency is among the different types of currencies, getting a lot of attention from online casinos. The initial cryptocurrency, Bitcoin, was invented in 2009 by an unknown developer known as Satoshi Nakamoto. With bitcoin, people can make transactions amongst themselves without involving a third-party.

The network runs freely without control from any person, authority, or central bank. In its place, transactions are confirmed by a society of miners who utilize their computer skills to verify the transfer of funds. In exchange, miners are granted additional Bitcoin for playing their role in the network. The technology that assists Bitcoin is known as a blockchain, which is similar to a large accounting book.

Each processed transaction done on the Bitcoin network can be viewed on the blockchain. During the release of Bitcoin in 2009, its cost was short of one cent, but eight years later, it hit $20,000 in 2017. The invention of Bitcoin has inspired the development of over 1,600 other cryptocurrencies in the market. This article seeks to highlight the Bitcoin price forecast for 2020, 2022, and 2025.

The price of Bitcoin has been on the rise from the start of 2020 for a couple of reasons. First, the heightened tensions between Iran and the United States resulted in investors withdrawing their cash from traditional markets and depositing it in cryptocurrency. In recent times, the outbreak of the coronavirus in China is an influencing factor that explains the significant rise of BTC price.

Also, Bitcoin shows a positive connection to gold, which implies that the two are competing for the store of value. A little while back, the major players of Bitcoin shifted BTC token worth $2.4 billion, which led to a surge in its price. Generally, the positivity around Bitcoin appears to reach high levels, which is probably going to influence a further upward momentum.

Bitcoin has acquired an encouraging trend, and in recent times it has begun with its upstream market. At the moment, both investors and traders are at a point where they need to make maximum use of the bull run. An increase in trade influences a rise in the prices. It is common knowledge that there are only a few Bitcoins in circulation that is those that can be mined are 21 million and 17 million have already been mined.

It implies that just 4 million can be mined, which will trigger a rise in its value. Also, various nations like Japan, South Korea, and the United States have portrayed clear committed to incorporate Bitcoin as well as other cryptocurrencies as part of their system of financing. These countries are willing to establish regulated markets which could operate securely without restriction. The Bitcoin price is expected to reach $23,499 at the end of 2020.

Bitcoin could encounter unforeseen development by 2022, with its rate of adoption getting to threefold. It might be embraced by the public globally as the most viable payment method that is free of any hassles.

The cryptocurrency could replace the weak link for fiat money with the more significant section of the developed world experiencing the change at a fast pace compared to the rest. If the advancements continue to acquire stability, by 2022, Bitcoin could reach $32,000.

Bitcoin price forecast implies that the BTC price remains high for a long time 385.450281% in the Bitcoin price worth with an investment of five years. In 2025, the Bitcoin price is projected to hit $ 50044.6. With the Bitcoin Future Prediction, the cryptocurrency might attain the $50k target by the year 2025, which positions the crypto market on a new level altogether. According to the analysis and projections, Bitcoin remains at the top with no close competition.

Eventually, Bitcoin could be viewed as a complementary currency and a store of value. There are particular Bitcoin price forecast tools that assist the professional draw up the information. The national currencies could be taken over by Bitcoin as projected by crypto fans such as John McAfee. Bitcoin is expected to gain more real-time usage by 2025.

Going by the current and predictions of Bitcoin, it is safe to say that the first cryptocurrency in the world is picking up a steady pace. With its decentralized financial systems, cryptocurrencies are the ideal payment method and the future of online casinos.

Image(s): Shutterstock.com

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A Comprehensive Guide to Bitcoin Price Forecast - The Merkle Hash

Somewhere in the next 120 years, all the 21 million bitcoins will be mined. The last Bitcoin will be mined in 2140. According to computer scientist Hal Finney, each Bitcoin will be worth $10 Million at that time.

As the receiver of the first Bitcoin transaction from Satoshi Nakamoto, Finney was the first one to offer a price prediction. And today we have proven growth models to believe him.

Over the last decade, 18 Million Bitcoin have been mined and the price growth has been parabolic. At its all-time high in 2017, Bitcoin has already exhibited 2,232,111,011.11% price gains.

Bitcoin price growth is expected to be highly parabolic. And this is supported by two massively popular price growth models:

At the time of press $100 = 0.011 BTC, if we stick with Finneys estimate:

1 BTC = $10,000,000

0.011 BTC = $110,000

But this is an understatement!

When Finney estimated the bitcoin price the total worldwide household wealth ranged between 100 and 300. But today this figure is somewhere close to $360 trillion. Thus if Finney re-estimated the bitcoin price in 2140, it would come out to be 18 Billion.

1 BTC = $18,000,000

0.011 BTC = $198,000

This might still be an understatement because Finneys estimation does not take hyper-Bitcoinzation and the S-curve of technology adoption into consideration.

To support the fact that the price growth will be parabolic, both Parabolic Super Trend and Stock to Flow Price model are in concurrence.

The figure above shows three distinct cycles that have been repeating themselves since 2010. Parabolic Travs has extended the same into the future. According to this, each bitcoin might be worth $200,000 by 2023. And we have all the reasons to believe him because his 2020 January bull predictions proved quite precise.

Source: @100trillionUSD

PlanBs Stock-to-Flow model predicts bitcoins price based upon its monthly Stock/Flow. With halvings, the Stock/Flow (SF value) will increase and this has a linear relation with bitcoins market value.

There is another catch before we come to the final yield for $100 investment in bitcoin today. According to the analysts, close to 4 million BTC have been lost forever. That means effectively the world will receive only 17 million BTC thus each bitcoin will amount to $21,176,470 by 2140.

1 BTC = $21,176,470

0.011 BTC = $232,941

And that is an ROI (Return of investment) of 232,841%. Give it a thought.

This should not be considered as a piece of investment advice.

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What could your $100 investment in Bitcoin fetch you in 2140? - Finance and Funding - Altcoin Buzz

There is a lot of antipathy and mistrust over bitcoin from the current baby boomer generation which largely doesnt understand the technology. Millennials on the other hand have been brought up with tech and theyre about to inherit trillions.

According to statistics an estimated $60 trillion in wealth will be passed down from boomers to millennials over the next 30 years. Boomers are defined as being born between 1946 and 1964 so an estimated 10,000 of them turn 65 every day.

Ikigai Fund manager Travis Kling posed the obvious question:

Boomers are generally old school investors that prefer traditional assets such as blue chip stocks and commodities, they are risk averse.

This can be evidenced by some of the repetitive commentary from some of the boomer characters on crypto twitter that revel in bashing bitcoin at every opportunity.

They do not understand the technology and do not want to; most of them have already made their millions, some have made billions. A generational paradigm shift is about to occur.

The global economy is in dire straits, that much was true even before the Coronavirus (Corvid-19) outbreak put the world on red alert. Booms and busts are cyclical and the last big one was in 2008.

Back then housing markets started to fall and banks were over lending, allowing people to take out loans at over 100% the value of their property.

Banks were also engaging in trading profitable mortgage-backed securities, backed by home loans as collateral, that they sold to investors. Financial institutions around the world owned these mortgage-backed securities, but they were also into mutual funds, corporate assets, and pension funds.

The banks demanded more mortgages, often lending to non-credit worthy people, to prop up their profits from the sale of these derivatives. The bubble eventually burst so to say that banks caused the last financial crisis is an understatement.

Millennials were born between 1981 and 1996 according to the Pew Research Center so many have vivid memories and experiences from this global economic crisis. Most of them came of age and entered the workforce facing the height of this recession and many are now laden with debt.

Therefore a massive distrust of the banking system which caused this collapse is prevalent among this demographic. This was highlighted by Satoshi Nakamoto in his now famous whitepaper;

The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.

It stands to reason then that a large portion of this wealth will not go into the banking system or old school assets, but into a technology that is immutable, finite, and can be trusted bitcoin.

Will millennials drive the next bitcoin boom? Add your comments below.

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How Millennials Will Inherit Trillions And Buy Bitcoin - Bitcoinist

Bitcoin is on the brink of a major correction this weekend after suffering an 18% slide over the past 15 days.

With it now trading below the daily 200 moving average downside price targets at both $8,450 and $7,830 have emerged.

The $7,830 level of support is intriguing as it is in confluence with the diagonal trendline dating back to the start of 2019 when Bitcoin was worth just $3,350.

A potential breakdown from that level would see Bitcoin trade outside the trendline for the first time in more than a year a clear indicator of a bear market.

However, its worth noting that Bitcoin has enjoyed a fruitful year to date with it still being 27% up since January 1.

As a result, several analysts remain bullish on Bitcoin and cryptocurrencies especially in light of recent turmoil in traditional markets.

Bitcoin is often described as digital gold, with gold being a common hedge to global equity markets.

As coronavirus sweeps across the globe at an alarming rate, economic instability is to be expected, and could well drive the price of Bitcoin to the upside.

Another point from a bullish perspective is that Bitcoin will undergo a block reward halving in May an event that has historically been kind to cryptocurrency due to a reduction in supply.

Both bullish scenarios are based on macro time-frames, whereas immediate price action is signalling a move to the downside.

As previously noted, the key levels of support to monitor are $8,450 and $7,830, while a break above $8,830 would indicate a move back into the $9,000 region.

For more news, guides and cryptocurrency analysis, click here.

Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents:

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In August 2008, the domain name bitcoin.orgwas registered. On 31st October 2008, a paper was published called Bitcoin: A Peer-to-Peer Electronic Cash System. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.

The paper outlined a method of using a P2P network for electronic transactions without relying on trust. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number 0 (or the genesis block), which had a reward of 50 Bitcoins.

If you want to find out more information about Bitcoin orcryptocurrenciesin general, then use the search box at the top of this page.Heres an article to get you started.

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.

The post Bitcoin braced for brutal weekend as fear sets in appeared first on Coin Rivet.

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Bitcoin braced for brutal weekend as fear sets in - Yahoo Finance

The mystery that has haunted the crypto community for years days is finally resolved.

We may never know the true identity of Satoshi Nakamoto, but we just cracked the second greatest mystery in the history of Bitcoin (BTC): what happened to the Bitcoins that Justin Sun supposedly gifted to Warren Buffet?

Justin Sun claimed that during his much-discussed lunch with Warren Buffet, he presented the crypto-skeptic with a Galaxy Fold phone which contained some cryptocurrency including Bitcoin and Tron (TRX).

However, in a recent interview with CNBC, not only did the Oracle of Omaha reiterate his negative stance towards cryptocurrency, he also flat-out denied owning any crypto whatsoever and further stated that he will never own it.... because it is worthless.

Subsequently, some in the crypto community started to question the veracity of Justin Suns statement. If indeed he had given some cryptocurrency to Warren Buffet, how could it be possible that Mr. Buffett doesnt own any?

Luckily for Mr. Sun, Buffett could be rebuffed. All Sun had to do was point to the blockchain-based evidence to defend himself:

Of course, all that the blockchain can prove is that some amount of cryptocurrency resides at a certain address. It cannot prove that an individual named Warren Buffet is the rightful owner of this cryptocurrency unless that individual chooses to prove his ownership by moving some coins or signing a message with a private key controlling it.

And as we have learned from the greatest Bitcoin mystery of all time, this can be no easy task for some individuals.

Justin Suns detractors seemed to have an upper hand in this deeply-contested conundrum until a good Samaritan stepped in to save the day (and Suns reputation).

Becky Quick, the CNBC reporter who inadvertently started this controversy, has now put an end to it:

No word yet on how Justin Sun feels about Warren Buffett regifting his generous present.

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The Mystery of Warren Buffett's Missing Crypto is Solved - Cointelegraph

The skit even teases a tantalising twist in the form of a subliminal message which appears to boast that the shows creators know the identity of the mysterious Satoshi Nakamoto the enigmatic inventor of bitcoin.Fans of The Simpsons and cryptocurrency enthusiasts have been sent wild with anticipation over the appearance of a singing ledger book explaining how crypto will be the future of money. The excitement stems largely from the script-writers remarkable track record in making uncanny predictions.

The crooning accounts book tells viewers: Each day Im closer to being the cash of the future, not in your wallet Im in your computer!

A clandestine message then briefly pops up on the screen which, intriguingly, reads: Using the word cryptocurrency repeatedly while defining cryptocurrency makes it seem like we have a novices understanding of cryptocurrency.

Well, that is a total pile of cryptocurrency. In this system, rules are defined for the creation of additional units of cryptocurrency. They can be generated by fiat like traditional currency or just thrown around randomly or all given to LeBron.

It adds: But for some reason, these crypto guys are really into computers. So we have big buildings full of energy-gobbling, air-conditioned computers solving useless math problems. But now we cant have straws?!

Pausing the scene, viewers would be able to digest the whole message where the bombshell last line has caused a stir throughout the cryptocurrency community.

Also, we know who Satoshi is, but were not telling, it declares.

While many within the industry have claimed to know or even be Satoshi Nakamoto, very few are taken seriously. However, given The Simpsons previous form for weirdly accurate clairvoyance, this sudden foray into digital finance is being given the nod of approval.

The Simpsons most notable act of prophecy was depicting Donald Trump as US President in 2000 a full 16 years before the billionaire businessman took office.

Earlier, a 1993 episode featured magicians Siegfried & Roy where one of the entertainers is savagely mauled by a white tiger during their act in Las Vegas.

Ten years after the show aired, Roy Horn suffered life-changing injuries after being attacked on stage by one of the acts famous white tigers.

In 1995, the animated comedy showcased smartwatches 20 years before Apple launched them.

Also in 1995, a trip to the UK by Lisa Simpson featured a mystery building in the London skyline that looked strikingly similar to The Shard.

Fourteen years later, construction work on The Shard began in exactly the same location where it had appeared in the Simpsons.

Coin Rivetis a website bringingnews, information, analysis, opinion and insight from the fast-moving blockchain world.

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Crypto currency goes showbiz: Bitcoin makes guest appearance on The Simpsons - Express

The whole Internet can work this way, said Twetch CEO Josh Petty in his presentation at the CoinGeek London conference. It was a typically bullish sentiment from the two days in which dozens of speakers demonstrated their confidence in the momentum building around Bitcoin SV (BSV).

Superficially, that momentum was felt in the more than doubling of the number of attendees since the last conference in Seoul six months ago. Even more superficially, it was seen the extraordinary width and clarity of the screen at the back of the stagedesigned to be viewed by creatures with at least three eyes.

More importantly, it was noticeable in the way BSV technology and businesses were discussed on stage. Petty announced new features for Twetch, taking the social media app to a slicker, more user-friendly form: Everything you touch and feel is going to be a microtransaction, he said, with no more swipe.

Familiar faces from previous conferences spoke with new certainty about what they were doing and had new achievements to report and announcements to make. Jack Liu of the RelayX wallet provided a moment of drama when he unveiled the new look of his appwhich is essentially a blank screen, the idea being that your camera opens to scan a QR code. More broadly, users will access Relay through other apps, making the integration of money functions almost invisible for users.

Newcomers, such as Thomas J. Lee, from Fundstrat, endorsed and elaborated themes previously only heard from those inside the Bitcoin SV tent. With detailed financial graphs, he predicted a parabolic moment when institutions get serious about cryptosimilar to the effect on Teslas share price when Wall Street started paying attention to its potential (below):

Lees colleague David Grider summarised from Fundstrats recent report on BSV, highlighting BSVs transaction growth and the potential of its nascent businesses. He singled out the coming Maxthon browser, the Baemail, email service and True Reviews as examples of more than 400 projects building on BSV, with more in prospect using the increased functionality provided by the Genesis fork.

The first day ended with a rousing speech by Dr. Craig Wright, which provided a laser-focused summary of his original intentions for Bitcoin as Satoshi Nakamoto and his present-day assessment of the prospects for BSV from microtransactions.

On Friday, there was more. Jeff Chen, the founder and CEO of Maxthon talked about his BSV browser. With his long track record of successful Internet browsers, this is no pipe dream, but a solid business proposition in development.

If you thought BSV innovation was limited to the world as seen through a computer screen, Stephan Nilsson and Ken Hill took us out into the real world. Hill described EHR Data, a new business that plans to revolutionise health information, putting patients in charge. And Nilsson, of UNISOT, demonstrated his app to track an item through a complex supply chain in this case, a haddock.

Finally, at the end of the second day, the veteran economist and technology commentator George Gilder, another newcomer to BSV gatherings, put Satoshis ideas into perspective. He was confident that BSV solves the two-fold scandal in the world economy, namely Internet security and the excesses of global currency trading.

Were now engaging in forging a new system of the world, he said. Its a system to replace the failed economic model of Google. In an information age, economies can change as fast as minds. Were moving to a world in which security comes first, everything is correctly valued and nothing is free.

Gilder gave an account of how he had been persuaded that Dr. Craig Wright is Satoshi. Sitting next to him in the final session of the day, he said, to applause that I think you can safely celebrate Craig. It was a fitting tribute to the man who had already changed the lives of everyone at CoinGeek London, all of whom are convinced that the best is yet to come.

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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CoinGeek London: When Bitcoin SV came of age - CoinGeek