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Major Contributor Behind Bitcoin’s Codebase Answers Questions About The Creation Of Cryptocurrency

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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.”

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Bitcoin News

Bull Run Market Prediction: Bitcoin To Reach $21K This Year

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Bull Run
Bull run market prediction shows that the number one cryptocurrency could reach up to $21K this year despite the 2018 bear market that crushed the prices by more than 80 percent. The recent market surge increased the optimism and it seems like the best days for bitcoin are yet to come so let’s find out more in the coming altcoin news below. The optimism is being driven by many important milestones that happened since the start of this year. First, the bitcoin price reached its best value so far for this year, crossing the $11,000 price point over the weekend. The latest price surge helped the major cryptocurrency to achieve a 15-month price high since the coin hasn’t traded over $11,000 since last spring. Also, the cryptocurrency gained more than 160 percent in Q2 this year which marks the best quarter for digital gold since bitcoin jumped up to 230 percent in Q4 back in 2017. This was when the coin hit the all-time-high of $20,000. With a major market cap of over $195 billion, Bitcoin has received some steam after having entered this year’s second quarter over the $4,000 mark. The bull run market prediction comes even after 2013’s bitcoin stretch when the cryptocurrency spiked by more than 600 percent. The difference between that year and today is that the current bitcoin run-up comes after many pundits stated that the cryptocurrency would never see a five-digit price point ever again. Now, Bitcoin is only down by 45 percent since the previous $20,000 and over the weekend surge means that the asset is presenting with up to 83 percent on the year and 1,580 percent over the last five years. The interest following around Bitcoin increase since Google searches for the cryptocurrency is on the rise. This comes as no surprise since the major social media giant Facebook announced their Libra crypto project last week which brought up to serious attention to BTC. As noted in the latest cryptocurrency news, the cryptoanalyst Trace Mayer thinks that it is possible for Bitcoin’s price to eclipse the previous all-time high before 2019 ends and to reach up to $21K. Of course, the future is unpredictable so there is no certainty but analysts such as Mayer used the data to make their best bets.
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Altcoin News

Australia Crypto Tax Laws: Trader Forced To Pay 500% Tax Bill

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The cryptocurrency tax laws have always been a popular topic in the coming altcoin news. In a new series of interesting things, we are featuring the Australia crypto tax laws which certainly contain some unfair provisions that will most often put many crypto owners on the verge of receiving huge tax burdens. Draconian at the very least, the crypto tax laws in Australia also apply to tokens obtained via hard forks which has holders having to cough up a lot of amounts in crypto tax payments. Even companies that pay staff salaries in virtual currencies may find a lot of incentive to do so given the additional burden it incurs at the end of the year. According to a cryptocurrency news platform named Micky, the Australia crypto tax laws forced a trader to pay a 500% tax on his digital holdings. Adrian Forza of Crypto Tax Australia told Micky that the country's tax laws stipulate the value of cryptocurrency used for tax purposes - coming from the purchase price. Therefore, if an investor buys token X at $100 and its price depreciates to $10, the tax payment would be based on the $100 purchase price. The crypto tax in Australia now stands at about 40% which shows that paying $40 tax on a $10 worth of virtual currency is the case. According to Forza's declaration when commenting the situation:
"That’s a really unfair outcome because he’s basically received cryptocurrency and the value has dropped significantly and now, he has to pay tax on money he doesn’t have. This is something they will have to change as it is unfair."
Given the 2018 bear market which saw prices plummet by more than 80% across the board, virtual currency bag holders in Australia have been paying unfair taxes. As the latest cryptocurrency news showed, crypto tax laws like these are not bearable for many and can drive investors and traders away from the country. In fact, Forza said that the Australia crypto tax laws are designed to frustrate crypto investments. There are so many of them including ones on Ethereum Classic (ETC) - where the Australia's regulators consider to be "the original Ethereum" even though the crypto industry at large considers Ethereum (ETH) as the original one and ETC the fork of it.
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Altcoin News

New Bitcoin Run Puts BTC At $11,318: 60% Dominance Is Here

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A new Bitcoin run is everywhere in the latest cryptocurrency news. Aside from the price outbreak which allowed BTC to reach $11,318 this morning, the dominance of the most dominant cryptocurrency is up by 3.5% ad is now at 60%. The total cryptocurrency market cap is stable at $336 billion and all of the altcoins are in the green. Besides Bitcoin and its new meteoric surge of 5% overnight, the altcoin news show that Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH and EOS (EOS) are all stable with small gains of less than 2%. Minimal reds are seen in the Litecoin (LTC), Binance Coin (BNB) and Bitcoin SV (BSV) prices which are slowly declining. The new Bitcoin run proved that there is a lot of new sentiment on the market. One of the key reasons for that is the daily volume which crossed the $67 billion mark. A lot of this can be attributed to Facebook releasing Libra details, PwC rolling out new auditing tool for cryptocurrencies and Japan's largest messaging app Lime announcing a potential crypto exchange. The market momentum is strong as Bitcoin is continuing in its parabolic moves. The best cryptocurrency news sites show that BTC managed to add 17.5% since last week and 5% with the new Bitcoin run. After two attempted breakouts, the cryptocurrency has found a strong resistance around $11,200. Even though it is now over that resistance, it has a safe bottom zone at $10,500 as the analysts show. Ethereum (ETH) managed to close last week above $300 during the new Bitcoin run - something that happened for the first time this year. The new run allowed ETH to add more than 13% while the rest of the top-30 market is following a mostly bullish trend. NEO (NEM) is one of the cryptocurrencies which also shined in the coming altcoin news. As our weekly crypto update showed, NEO managed to add 21.4% to its price in less than a week and Monero (XMR) is also following this trend, being up by more than 18%. The latest news show that EU regulators called for central bank review of Facebook's Libra cryptocurrency. This could definitely influence the prices on the market. If all goes well, we could see a new Bitcoin run heading to $20,000 very soon.
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Bitcoin News

ThinkMarkets Analyst: BTC Will Hit Somewhere Between $60k and $100k

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According to the ThinkMarkets analyst named Naeem Aslam, Bitcoin has a massive potential to hit somewhere between $60,000 and $100,000 during the next bull run. Aslam's statement was everywhere in the latest cryptocurrency news and first emerged in a Fox Business interview on June 24. For those of you who haven't been following our cryptocurrency news site, Aslam has been already featured for predicting a $10,000 Bitcoin price on June 17 - something which turned to be real past week. He then cited the institutional investment as a major driver for the BTC rally. However, the ThinkMarkets analyst is now again viral on many best cryptocurrency news sites for a new Bitcoin price estimate. According to Aslam, the next mark for Bitcoin to reach is the $20,000 one - after which $50,000 will follow. The ThinkMarkets analyst is sure that by hitting $20,000, Bitcoin will move the discussion away from conservative estimates exceeding the number one cryptocurrency and its all-tme high to forecasts of $50,000. From there, as he said, breaking $50,000 will move the price target to $100,000. Aslam also talked about the use of Bitcoin as a means to avoid risk, comparing the dominant cryptocurrency - often known as "digital gold" - with actual gold. He remarked that in the last two months, there has been a huge spike in price for the two assets which he attributed to lack of confidence in the stock market as well as the US and China trade war. The altcoin news also show the ThinkMarkets analyst talking about a potential war in the Middle East as the biggest driver of recent growth in the diversifying assets. He said that BTC now has a reputation as a safe haven for storing wealth and said that there is evidence of investors "parking" their capital in the leading cryptocurrency. Naeem Aslam has been right about Bitcoin reaching $10,000 which is why his statements are more than just plain predictions right now. As we previously shared on our site, the Bitcoin podcast host Trace Mayer already said that the BTC price will likely close at $21,000 this year (based on current factors and the trajectory that BTC has right now). He also used his own 'Mayer Multiple' price indicator as an equation that involves dividing the current BTC price by its 200-day moving average.
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