Meet Jeff Garzik – one of the earliest contributors to the Bitcoin codebase and later a lead developer at BitPay. In the latest crypto news, we have Garzik and his attempt to reveal something that everyone of us is asking themselves – who created Bitcoin?
The truth is, no one knows, and even Garzik is clueless about this. In an interview with Bloomberg, he spoke to his suspicions of the actual creator of Bitcoin. Basically, Garzik’s theory revolves around Nick Szabo, Adam Back and a group of people involving these people as the major contenders for the title of Satoshi Nakamoto.
Currently, there are a lot of people who believe that the Australian outlier Craig S. Wright who is spearheading the Bitcoin SV (“Satoshi Vision”) hard fork in 6 days is actually the person behind the pseudonym Satoshi Nakamoto.
Garzik told Bloomberg that his “personal theory” revolves around Dave Kleiman who is a Florida man who passed away in 2013 and whose estate is currently engaged in a lawsuit against Craig S. Wright – as the man behind Bitcoin.
Wright had worked with Kleiman, who was a computer security expert. As one report reveals:
“Kleiman and Wright had allegedly acquired these coins by mining them through W&K Info Defense Research LLC. The ownership structure of W&K is in dispute, though Kleiman’s estate claims that he was either the sole owner or held it in partnership with Wright. Either way, they claim that Wright stole at least 550,000 BTC, or 1.1 million if W&K was wholly owned by Kleiman.”
As Garzik notes, this is where the dots connect and paint a picture of Kleiman being Satoshi. The self-taught coder, according to Garzik, “was someone who was very, very smart, but not a classically trained software engineer.”
Bitcoin 30-Day Trading Volume Hits Records High Of $770 Billion
Bridgewater Founder Ray Dalio Makes A Bullish Prediction For BTC
“Additionally, for reasons I will explain in the near future, most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio.”The Bridgewater founder advocated that gold is the only right option to choose for everyone that is looking to diversify their portfolio just in a time where most of the world seems to be investing in equities. This is not the only reason why Dalio believes that gold will witness a major surge in inflows. According to him, the global conflicts and the depreciating value of money will force them to go on the way back to safety. Gold will be the only asset to choose from for all the investors that are looking to store their wealth at a time when the central banks are trying to keep the interest rates low. Dalio’s comments could make sense a decade ago when bitcoin was first launched. Gold is universally considered to be a safe-haven asset that the investors buy in order to protect their wealth in difficult times. Bitcoin, on the other hand, is gaining the confidence of institutional investors and there are only a few people who believe that the cryptocurrency will replace the gold. Dalio somehow forgot that the times have changed and bitcoin is now considered as the perfect replacement for gold as noted in the coming altcoin news previously.
Bear Euphoria Continues As Bitcoin Plummets Below $10,000
“Bull market corrections are unavoidable and should be welcome. Assets that go too far up too fast tend to crash the hardest. As everyone who speculated with the price of bitcoin during 2017 and 2018 well knows.”We can also see the Bitcoin hater Nouriel Roubini who is featured on many best cryptocurrency news sites for his pessimistic statement towards BTC and optimistic towards the Trump-Congress hearings. He said:
“Bitcoin has crashed by almost 30% in the last week and over 15% in the last day. As Congress, Mnuchin, Trump and myself point out that the criminal scams of crypto shitcoins-land will be cracked down on, the scammers and criminals know their days of unregulated casinos are gone!”As a reminder, the bear euphoria has made BTC correct more than eight times during the previous bull run - and Bitcoin lost more than 30% in the same period before reaching the all time high close to $20,000 at the end of 2017.
VanEck Thinks Bitcoin ETF Could Bolster US Economy
“Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over. Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust,” Senator Sherrod Brown stated.In response to this, Gurbacs of VanEck thinks that these opinions are quite negative, unwarranted and stem from a lack of understanding of crypto. As he stated, a Bitcoin ETF could facilitate innovation that could buoy the US economy in the next 10 years:
“We are waiting finally for regulators to approve a bitcoin ETF, which would bring digital assets under the regulated American capital market. This could be, for the next decade, the driver of our economy.”Gurbacs said that the United States should harness the innovative technologies to upgrade US payments systems as well as its capital markets infrastructure. He argues that doing this would make America a world leader in the digital economy.
“I think America realized that it needs a 10-year plan to make markets great again, and basically, a 10-year plan to rebuild the payments and financial infrastructure system that we’re lagging behind on. This may be a driver to innovate and rebuild America’s payments systems and capital markets,” Gurbacs noted, for which he was featured on many best cryptocurrency news sites.The head of digital asset strategy at VanEck thinks that while President Trump and Secretary Mnuchin have negative views on Bitcoin, they must be challenged to think about it from a different perspective.
“Bitcoin — specifically bitcoin, not other digital assets — can rebuild the [U.S.] payments system. We can satisfy all the regulatory needs and government needs to rebuild the [capital] markets,” Gurbacs concluded.
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- Bitcoin 30-Day Trading Volume Hits Records High Of $770 Billion
- Economist Nouriel Roubini Slams BitMEX For Money Laundering
- Bridgewater Founder Ray Dalio Makes A Bullish Prediction For BTC
- Litecoin (LTC) Value Rebounds As The Halving Event Is Pending
- Sorry Mr President, cryptocurrency has a bright future
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