Bitcoin.com Co-founder Dumps Bitcoin For Bitcoin Cash
- More on Bitcoin
Why Nobel Economist Robert Shiller Is Still A Bitcoin Skeptic
The co-founder of bitcoin.com is defecting to rival Bitcoin Cash.
In an interview with Swedish tech site Breakit, Emil Oldenburg revealed that he is selling all of his bitcoins and replacing them with Bitcoin Cash. His decision was triggered by bitcoin’s high transaction costs and lead times (for approving transactions). The average transaction fees for bitcoin is $28.09, according to bitinfocharts.com. The fees also determine the amount of time it takes to mine a block because transactions with higher fees are more rewarding for miners.
Oldenberg’s bitcoin sale transaction cost $50 in fees and took 12 hours to complete. He says the bitcoin network, as it was designed originally, is “completely unusable,” and once traders realize the way in which bitcoin functions, they will start selling.
“I would say an investment in bitcoin is right now the riskiest investment you can make. There’s an extremely high risk,” Oldenburg said.
Bitcoin Cash grew out of hard fork from the original cryptocurrency in August. It has block sizes of up to 8 MB (as opposed to bitcoin’s 1 MB) that allow for faster processing speeds, low fees, and more transactions per block. Currently, the average transaction fee for bitcoin cash is $0.25. (See also: Bitcoin Cash: The New King Of Cryptocurrency?)
The Bitcoin Cash community has characterized the hard fork as an ideological split, claiming their version hews more closely to bitcoin founder Satoshi Nakamoto’s original vision of a cryptocurrency for daily transactions. Oldenburg referenced the split in his interview. “It’s a group of fanatic bitcoin talibans who themselves do not use bitcoin everyday to want it like this. They see bitcoin like digital gold and a technical experiment, not something you should actually use,” he said. (See also: Does Bitcoin Cash's Success Signal Cryptocurrency Conflict?)
Regardless of its underpinnings, a public airing of differences in the bitcoin community has been profitable to both cryptocurrencies. Since its launch in August, Bitcoin Cash has risen in price by 380%. In the meanwhile, bitcoin has shot up more than 1,800 percent this year.
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Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off
I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount
I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!
I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be… more
chithidio@Yahoo.com
i dont know what happened but i can not search anything.
Golf handicap tracker, why can't I get to it?
Why do I get redirected on pc and mobile device?
Rahyaftco@yahoo.com
RYAN RAHSAD BELL literally means
Question on a link
In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?
Repair the Yahoo Search App.
Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.
I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.
I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.
I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.
We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.
I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.
I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.
I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.
WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED
I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED
This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.
Yahoo needs to fix the problem with their app.
Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.
I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.
I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and… more
Who is Satoshi Nakamoto?
Last Updated: 19th February 2016
Who is Satoshi Nakamoto?
While we may not know who he (or she) was, we know what he did. Satoshi Nakamoto was the inventor of the bitcoin protocol, publishing a paper via the Cryptography Mailing List in November 2008.
He then released the first version of the bitcoin software client in 2009, and participated with others on the project via mailing lists, until he finally began to fade from the community toward the end of 2010.
Nakamoto worked with people on the open-source team, but took care never to reveal anything personal about himself, and the last anyone heard from him was in the spring of 2011, when he said that he had "moved on to other things".
But he was Japanese, right?
Best not to judge a book by its cover. Or in fact, maybe we should.
"Satoshi" means "clear thinking, quick witted; wise". "Naka" can mean "medium, inside, or relationship". "Moto" can mean "origin", or "foundation".
Those things would all apply to the person who founded a movement by designing a clever algorithm. The problem, of course, is that each word has multiple possible meanings.
We can't know for sure whether he was Japanese or not. In fact, it's rather presumptuous to assume that he was actually a 'he'.
We're just using that as a figure of speech, but allowing for the fact that this could have been a pseudonym, 'he' could have been a 'she', or even a 'they'.
Does anyone know who Nakamoto was?
No, but the detective techniques that people use when guessing are sometimes even more intriguing than the answer. The New Yorker's Joshua Davis believed that Satoshi Nakamoto was Michael Clear, a graduate cryptography student at Dublin's Trinity College.
He arrived at this conclusion by analyzing 80,000 words of Nakamoto's online writings, and searching for linguistic clues. He also suspected Finnish economic sociologist and former games developer Vili Lehdonvirta.
Both have denied being bitcoin's inventor. Michael Clear publicly denied being Satoshi at the 2013 Web Summit.
Adam Penenberg at FastCompany disputed that claim, arguing instead that Nakamoto may actually have been three people: Neal King, Vladimir Oksman, and Charles Bry. He figured this out by typing unique phrases from Nakamoto's bitcoin paper into Google, to see if they were used anywhere else.
One of them, "computationally impractical to reverse," turned up in a patent application made by these three for updating and distributing encryption keys. The bitcoin.org domain name originally used by Satoshi to publish the paper had been registered three days after the patent application was filed.
It was registered in Finland, and one of the patent authors had traveled there six months before the domain was registered. All of them deny it. Michael Clear also publicly denied being Satoshi at the 2013 Web Summit.
In any case, when bitcoin.org was registered on August 18th 2008, the registrant actually used a Japanese anonymous registration service, and hosted it using a Japanese ISP. The registration for the site was only transferred to Finland on May 18th 2011, which weakens the Finland theory somewhat.
Others think that it was Martii Malmi, a developer living in Finland who has been involved with bitcoin since the beginning, and developed its user interface.
A finger has also been pointed at Jed McCaleb, a lover of Japanese culture and resident of Japan, who created troubled bitcoin exchange Mt. Gox and co-founded decentralized payment systems Ripple and later Stellar.
Another theory suggests that computer scientists Donal O'Mahony and Michael Peirce are Satoshi, based on a paper that they authored concerning digital payments, along with Hitesh Tewari, based on a book that they published together. O'Mahony and Tewari also studied at Trinity College, where Michael Clear was a student.
Israeli scholars Dorit Ron and Adi Shamir of the Weizmann Institute retracted allegations made in a paper suggesting a link between Satoshi and Silk Road, the black market web site that was taken down by the FBI in October 2013. They had suggested a link between an address allegedly owned by Satoshi, and the site. Security researcher Dustin D. Trammell owned the address, and disputed claims that he was Satoshi.
In May 2013, Internet pioneer Ted Nelson threw another hat into the ring: Japanese mathematician Professor Shinichi Mochizuki, although he admits that the evidence is circumstantial at best.
In February 2014, Newsweek's Leah McGrath Goodman claimed to have tracked down the real Satoshi Nakamoto. Dorian S Nakamoto has since denied he knows anything about bitcoin, eventually hiring a lawyer and releasing an official statement to that effect.
No, Satoshi Nakamoto is not a 64-year-old Japanese man living in California, probably.
Hal Finney, Michael Weber, Wei Dai and several other developers were among those who are periodically named in media reports and online discussions as potential Satoshis. A group of forensic linguistics experts from Aston University believe the real creator of bitcoin is Nick Szabo, based upon analysis of the Bitcoin White Paper.
Dominic Frisby, a comedian and a writer, also suggests that BitGold creator Szabo was the most likely candidate to be Satoshi in his book, "Bitcoin: The Future of Money". His detailed analysis involved the linguistics of Satoshi's writing, judging the level of technical skill in C++ and even Satoshi's likely birthday.
In Nathaniel Popper's book, 'Digitial Gold', released in May 2015, Popper reveals that in a rare encounter at an event Szabo again denied that he was Satoshi.
Then in early December 2015, reports by Wired and Gizmodo tentatively claimed to have identified Nakamoto as Australian entrepreneur Craig S Wright. WIRED cited "an anonymous source close to Wright" who provided a cache of emails, transcripts and other documents that point to Wright's role in the creation of bitcoin. Gizmodo cited a cache of documents sourced from someone claiming to have hacked Wright's business email account, as well as efforts to interview individuals close to him. The idea that the Wright-Satoshi connection is nothing but a hoax has been floated by observers, though the compelling nature of the evidence published will no doubt fuel speculation for some time to come.
For the most part, all of these potential Satoshi's have insisted they are not Nakamoto.
So what do we know about him?
One thing we know, based on interviews with people that were involved with him at an early stage in the development of bitcoin, is that he thought the system out very thoroughly.
His coding wasn't conventional, according to core developer Jeff Garzik, in that he didn't apply the same rigorous testing that you would expect from a classic software engineer.
How rich is he?
An analysis by Sergio Lerner, an authority on bitcoin and cryptography, suggests that Satoshi mined many of the early blocks in the bitcoin network, and that he had built up a fortune of around 1 million unspent bitcoins. That hoard would be worth $1bn at November 2013's exchange rate of $1,000.
What is he doing now?
No one knows what Satoshi is up to, but one of the last emails he sent to a software developer, dated April 23 2011, said "I've moved on to other things. It's in good hands with Gavin and everyone."
Did he work for the government?
There are rumors, of course. People have interpreted his name as meaning "central intelligence", but people will see whatever they want to see. Such is the nature of conspiracy theories.
The obvious question would be why one of the three-letter agencies would be interested in creating a cryptocurrency that would subsequently be used as an anonymous trading mechanism, causing senators and the FBI alike to wring their hands about potential terrorism and other criminal endeavours. No doubt conspiracy theorists will have their views on that, too.
Perhaps it doesn't matter. Core developer Jeff Garzik puts it succinctly. "Satoshi published an open-source system for the purpose that you didn't have to know who he was, and trust who he was, or care about his knowledge," he points out. Open-source code makes it impossible to hide secrets. "The source code spoke for itself."
Moreover, it was smart to use a pseudonym, he argues, because it forced people to focus on the technology itself rather than on the personality behind it. At the end of the day, bitcoin is now far bigger than Satoshi Nakamoto.
Having said that, if the real Satoshi Nakamoto is out there – get in touch!
Sakamoto image via (AP Photo/Damian Dovarganes)
Bitcoin (USD) Price
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Prosecutors in Germany have made an emergency sale of cryptocurrencies seized in two investigations due to concerns over price volatility.
Bitcoin Price Faces Last Major Support Level Before $5K
May 29, 2018 at 09:00 | Omkar Godbole
Bitcoin is down again and looks set to test another key support level at $6,900, the technical charts indicate.
Bitcoin Bears In Charge But Indecision Could Spur Rally
May 28, 2018 at 10:25 | Omkar Godbole
While the odds are still stacked in favor of bitcoin's bears, marketplace exhaustion may have provided a chance for a brief rally.
IHS Markit Has A Plan to Tokenize A $1 Trillion Loan Market
May 28, 2018 at 04:00 | Ian Allison
IHS Markit is developing a blockchain-based system to handle cash payments in syndicated loans – and eventually, in a wider range of transactions.
Just One Top Crypto Bucked This Week's Market Downturn
May 25, 2018 at 15:15 | Omkar Godbole
Shadowing the losses in bitcoin, the top-25 cryptocurrencies have all fallen over the last seven days – all bar one, that is.
Bitcoin Faces Close Below Long-Term Support In First Since 2015
May 25, 2018 at 10:00 | Omkar Godbole
If bitcoin closes the week below the 50-week moving average it will increase the likelihood of a sell-off to $6,000
Revolut App Adds XRP, Bitcoin Cash to Crypto Options
May 24, 2018 at 14:35 | Daniel Palmer
Mobile banking app Revolut now lets users buy, sell and hold Ripple's XRP and bitcoin cash, in addition to bitcoin, litecoin and ether.
Bitcoin Faces Drop to $7K as Bull Defense Crumbles
May 24, 2018 at 09:30 | Omkar Godbole
Bitcoin looks set to test $7,000 in the next 24 hours, courtesy of a bear flag breakdown on the technical charts.
Coinbase Is Rebranding Its Crypto Exchange Service
May 23, 2018 at 20:26 | Nikhilesh De
Coinbase announced Wednesday it was rebranding its GDAX platform as Coinbase Pro. Additionally, the company has acquired Paradex, a relay platform.
Bitcoin Price Faces Bear Indicator Not Seen Since 2014
May 23, 2018 at 09:00 | Omkar Godbole
Following bitcoin's recent losses, a key long-term trend indicator is looking increasingly bearish.
Bitcoin Founder, Satoshi Nakamoto Net Worth Reaches $700 Millions!
Last updated on January 2nd, 2018 at 12:00 am
With the rise of Bitcoin as the most prominent online currency for anonymous users, there remains the mystery of Satoshi Nakamoto. The first person to “mine” Bitcoin as an investment on a large scale, the continued growth of the currency has led to an enormous cache of wealth. He’s suspected as owning perhaps one million Bitcoins, which, at $700 per coin (current market value), would put Satoshi Nakamoto net worth at $700 millions! Quite a haul for purchasing some online coins and he’s certainly one of the wealthiest people on earth to remain completely anonymous.
What Is Bitcoin Founder, Satoshi Nakamoto Net Worth?
Even more striking, when considering Satoshi Nakamoto net worth in Bitcoin, is the share of total bitcoins in the world that he now controls, which is around 7%. This would give him enormous power and influence in the Bitcoin world, allowing him to personally move the value and market for Bitcoins if he ever chose to act with his haul of Bitcoin. With no real clue as to who he is or what he is seeking to do with his Bitcoin treasure, and the influence that he could exert over the entire Bitcoin market, it’s a mystery that will keep Bitcoin users engaged for a long time.
The spectacular buildup of Satoshi Nakamoto net worth is in many ways a unique story. Currency trading is nothing new, but it’s usually a matter of trading foreign currency against different and changing valuations. Accumulating money in the way of Satoshi Nakomoto net worth is more akin to holding onto a stock share for a long time. Now that Nakomoto is the largest shareholder he’s like the CEO, or Bitcoin creator, able to exert real influence over the entire market, only this is a currency market. Undoubtedly, though, his enormous and growing wealth will make him an ongoing interest to businessmen and Bitcoin users alike.
Bitcoin exchange founder arrested for allegedly lying to financial watchdogs
FILE PHOTO - Representation of the Bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture Thomson Reuters
- The founder of a crypto exchange was arrested for allegedly lying to US regulators, federal prosecutors say.
- In 2013, hackers stole 6,000 bitcoin from the platform founded by Jon Montroll and he allegedly tried to cover it up.
The founder of a defunct cryptocurrency exchange has been arrested for allegedly lying to financial watchdogs to cover up a heist of 6,000 bitcoin.
Federal prosecutors in New York charged Jon Montroll, the 37-year-old founder of BitFunder, on Wednesday with obstruction of justice and two counts of perjury. Separately, the Securities and Exchange Commission has filed a lawsuit against the Texas resident for running a non-compliant exchange, according to a Bloomberg News report.
"As alleged, the defendant repeatedly lied during sworn testimony and misled SEC staff to avoid taking responsibility for the loss of thousands of his customers' bitcoin," Geoffrey Berman, Manhattan US Attorney, said.
In July 2013, hackers swiped what would now be worth $60 million of bitcoin from BitFunder, prosecutors said. The heist left the company without enough crypto to cover what users were owed. When questioned under oath by the SEC, Montroll falsely denied the hacking was successful, saying that a technical issue had halted withdrawals. Montroll said those issues were fixed "immediately," according to prosecutors.
Exchange heists have long plagued the cryptocurrency world, as noted by a wide-ranging note on blockchain and bitcoin by JPMorgan.
"It is estimated that a third of bitcoin trading platforms have been hacked and these cyber theft/hackers took over $630 million in bitcoins," the bank said.
Take a look at some of the largest exchange hacks in the table below (courtesy of JPMorgan):
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Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off
I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount
I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!
I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be… more
chithidio@Yahoo.com
i dont know what happened but i can not search anything.
Golf handicap tracker, why can't I get to it?
Why do I get redirected on pc and mobile device?
Rahyaftco@yahoo.com
RYAN RAHSAD BELL literally means
Question on a link
In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?
Repair the Yahoo Search App.
Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.
I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.
I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.
I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.
We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.
I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.
I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.
I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.
WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED
I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED
This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.
Yahoo needs to fix the problem with their app.
Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.
I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.
I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and… more
Bitcoin.com Co-founder Dumps Bitcoin For Bitcoin Cash
- More on Bitcoin
The co-founder of bitcoin.com is defecting to rival Bitcoin Cash.
In an interview with Swedish tech site Breakit, Emil Oldenburg revealed that he is selling all of his bitcoins and replacing them with Bitcoin Cash. His decision was triggered by bitcoin’s high transaction costs and lead times (for approving transactions). The average transaction fees for bitcoin is $28.09, according to bitinfocharts.com. The fees also determine the amount of time it takes to mine a block because transactions with higher fees are more rewarding for miners.
Oldenberg’s bitcoin sale transaction cost $50 in fees and took 12 hours to complete. He says the bitcoin network, as it was designed originally, is “completely unusable,” and once traders realize the way in which bitcoin functions, they will start selling.
“I would say an investment in bitcoin is right now the riskiest investment you can make. There’s an extremely high risk,” Oldenburg said.
Bitcoin Cash grew out of hard fork from the original cryptocurrency in August. It has block sizes of up to 8 MB (as opposed to bitcoin’s 1 MB) that allow for faster processing speeds, low fees, and more transactions per block. Currently, the average transaction fee for bitcoin cash is $0.25. (See also: Bitcoin Cash: The New King Of Cryptocurrency?)
The Bitcoin Cash community has characterized the hard fork as an ideological split, claiming their version hews more closely to bitcoin founder Satoshi Nakamoto’s original vision of a cryptocurrency for daily transactions. Oldenburg referenced the split in his interview. “It’s a group of fanatic bitcoin talibans who themselves do not use bitcoin everyday to want it like this. They see bitcoin like digital gold and a technical experiment, not something you should actually use,” he said. (See also: Does Bitcoin Cash's Success Signal Cryptocurrency Conflict?)
Regardless of its underpinnings, a public airing of differences in the bitcoin community has been profitable to both cryptocurrencies. Since its launch in August, Bitcoin Cash has risen in price by 380%. In the meanwhile, bitcoin has shot up more than 1,800 percent this year.
Bitcoin founder unmasked? Newsweek writer stands by story after Dorian Satoshi Nakamoto's denials
Following denials from Dorian Satoshi Nakamoto that he's the founder of the digital currency Bitcoin -- as claimed in Newsweek's latest cover article -- the writer of the piece is saying she stands by the story.
Leah McGrath Goodman, who wrote the Newsweek article, said on "CBS This Morning" that Satoshi Nakamoto "definitely acknowledged Bitcoin, and I think at this point now, he's saying he was confused by the conversation."
According to the Newsweek article, Nakamoto is a model train buff who lives in a modest single family home with his mother. When confronted about Bitcoin, according to the Newsweek report, he said, "I'm no longer involved in that, and I cannot discuss it."
McGrath Goodman said her conversation with Satoshi Nakamoto was "the clincher" for her in her search for the currency's founder. She added, "Seeing him flee a scene and now deny it, I have to say it's mystifying to me. His family -- and that's part of why I'd written it into the story -- had told me that they predicted he would be either cagey or deny it."
Just hours after Newsweek claimed he was the mystery man, Nakamoto, 64, emerged from his Southern California home, telling the media outside, "I'm not in Bitcoin. I'm not in Bitcoin. I don't know anything about it."
"CTM" co-host Gayle King asked about Nakamoto's claim that he was referring to a confidentiality agreement.
McGrath Goodman replied, "That's not what happened."
So how did she pinpoint Nakamoto as the founder of Bitcoin? McGrath Goodman said she got some help from a couple of forensic researchers.
"I'm an investigative journalist, but they also do things I don't even do everyday -- even close to what I do -- and they have access to archives I don't use," she said. "So we worked as a team and we sort of crossed each other off at the pass on leads, and we would work all the leads we could find. So we started out thinking it could be a pseudonym. It could be his real name. It could be -- we could not confirm it wasn't a pseudonym. We couldn't confirm it was, so we worked with all the possibilities and we narrowed it down. This was the last and final and strongest lead, and at no time could we cancel it out, and still don't."
The Newsweek article triggered a full-blown game of cat-and-mouse through the streets of Los Angeles Thursday, with the media tracking Nakamoto's every move using the Twitter hashtag #bitcoinchase.
Eventually, the retired engineer ended up at the Associated Press bureau. Looking at the Newsweek article, Nakamoto said, "Where did that come about?"
Over a meal of free sushi, he continued denying he was the computer whiz worth an estimated $400 million. In fact, he said he hadn't even heard of Bitcoin until three weeks ago. Nakamoto said, "The main reason I'm here is to clear my name, that I have nothing to do with Bitcoin. Nothing to do with developing. I was just an engineer doing something else. . I never worked for the company. I don't know any people there."
This isn't the first time the media has tried to unmask Bitcoin's founder. Other outlets have tried, but failed to identify the creator.
Nathaniel Popper, who covers Bitcoin for The New York Times, said, "This is a global system worth billions of dollars, and the I think the world does have a right to know. I mean, people have sunk their lives into this."
McGrath Goodman shared that opinion on "CTM."
"I think it's natural to want to know who is behind Bitcoin, even if he's no longer involved, because it's a one-world currency now," she said.
She added, "If you go to the Bitcoin Foundation website, it says this is a non-political financial tool, but if you go and talk to the people who developed it, they'll tell you it was very politically motivated so if there's a lot of mystery, and I thought as a journalist maybe I could clear it up. It's a little disappointing to see maybe not yet."
McGrath Goodman has recently faced threats online, including the release of her personal information. And she said she's already seeing evidence of that kind of activity. "I saw pretty much everything I can imagine online this morning, including what security questions are on my website, things like that," she said.
Asked if she's worried, McGrath Goodman said, "Clearly somebody thought we did this as an act of war against. Nakamoto or Bitcoin, and I want to be very clear that I certainly never meant it that way. you would think we had demonized him or that we did not like Bitcoin in some way in the article, which was not at all the way I wrote it."
The founder of Ethereum just called the man who claims to have invented bitcoin a 'fraud'
- Craig Wright claimed to be the creator of bitcoin in 2016.
- But Vitalik Buterin, a confirmed creator of the Ethereum blockchain, called Wright a "fraud" at a conference on Tuesday.
Satoshi Nakamoto is still a mystery. Nobody knows the identity of the pseudonymous billionaire creator of bitcoin.
But the Ethereum cofounder Vitalik Buterin is pretty sure it's not Craig Wright, the Australian who claimed to be Nakamoto in 2016.
"Given that he makes so many non sequiturs and mistakes, why is this fraud allowed to speak at this conference?" Buterin asked organizers at the Deconomy conference in South Korea on Tuesday. Audience members applauded him.
Watch the video below:
— Hope Freiheit (@the_hopemeister) April 3, 2018
Here's another look:В
bravo to @VitalikButerin calls out fake Satoshi at Deconomy. Credit to austinalexander for video . pic.twitter.com/SigNLRO7le
— I am Nomad (@IamNomad) April 3, 2018
The confrontation happened during a question-and-answer session after a panel called "Bitcoin, Controversy over Principle" featuring Roger Ver and Samson Mow; Wright gave a talk just before the panel, Mow told Business Insider.
The discussion centered on bitcoin cash, a controversial bitcoin derivative backed by some of the panelists.
Buterin also live-tweeted the panel, mostly with extremely technical critiques of the discussion.
I'm going to live tweet comments on the "Bitcoin, Controversy over Principle" section of Deconomy for fun.
— Vitalik "Not giving away ETH" Buterin (@VitalikButerin) April 3, 2018
It might be difficult for non-technical people to follow Buterin's arguments, but his conclusion is clear.
62. So I *do* think both sides need to improve their discourse.
— Vitalik "Not giving away ETH" Buterin (@VitalikButerin) April 3, 2018
Wright first shot to fame when stories from Gizmodo and Wired both identified him as the likely inventor of bitcoin.
In May 2016, Wright published a blog post and spearheaded a media push in news outlets including the BBC, The Economist, and GQ in which he said he was, in fact, Satoshi Nakamoto.
But the evidence in Wright's blog post made little sense on a technical, cryptographic level. Cryptography experts said at the time that it was nearly nonsensical.
There are many ways that the creator of bitcoin could prove their identity, but Wright's evidence contained none of it and was needlessly complicated. Wright eventually took down the post.
Still, Wright has used the fame to start a cryptocurrency-related company and has vocally backed bitcoin cash.
It shouldn't be surprising that some in the cryptocurrency world — especially Buterin, who is respected as the technical vision behind Ethereum, the blockchain that powers cryptocurrencies like ether — still think he's a fraud.
Wright fired back at Buterin in a tweet on Tuesday morning without tagging him.
Vitalik has one issue.
— Dr Craig S Wright (@ProfFaustus) April 3, 2018
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