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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

New York Stock Exchange (NYSE) Delays The Bakkt Bitcoin Futures Launch To 2019

The owner of the New York Stock Exchange (NYSE) which is the Intercontinental Exchange (ICE), has recently announced that it would delay the launch of the much-anticipated Bitcoin futures product until January 24th, 2019. The announcement is everywhere in the Bitcoin news section. The product, which is the Bakkt Bitcoin (USD) Daily Futures Contract, had been scheduled to go live on December 12th this year. More importantly, it was meant to provide US investors with their first opportunity to trade a physically-settled crypto futures product on a respected and regulated mainstream exchange. According to ICE, the delay would afford the firm additional time to onboard customers before it begins warehousing BTC and before the launch of the futures market accordingly. As the official announcement reads:
“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”
According to analysts, there are speculations that Bakkt's scheduled December launch could help and catalyze a new year-end crypto market rally - with bulls such as Tom Lee predicting that the price of Bitcoin can ascend to as high as $15,000 before 2018 ends.
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Bitcoin News

Funny Or Not, Tom Lee Lowers His Year-End Bitcoin Price Target To $15,000

The co-founder of Fundstrat, Tom Lee, is in the latest Bitcoin news - again for his (quite unusual) price predictions about the price of the largest cryptocurrency by market cap. According to Lee, the Bitcoin price target of $15,000 is still possible. Lee's new prediction is a dramatic drop from his bullish $25,000 price target from early 2018, when the crypto market seemed poised for a major explosion. As he told CNBC on November 20th:
“Global markets have seen liquidity dry up, and bitcoin is not necessarily a value asset — so as growth stocks, tech, and FAANG come under pressure, it’s going to hurt bitcoin. The downturn in FAANG is hurting those owning bitcoin.”
Despite the killer downward trend that Bitcoin is facing right now, Lee remains bullish about crypto and believes that we are merely undergoing an "awkward transition." As he stated, crypto still has a bright long-term future ahead and there is no doubt that institutional investors will start coming around. https://twitter.com/CNBC/status/1064925085641965568 "“The next wave of adoption is institutional,” Lee said. “There is a crossover happening. This is just an awkward transition.” He also said that institutional investors will start making giant leaps into crypto. As he revealed:
“Institutional backing will come soon. You will get it partly through infrastructure, like Bakkt, which is launching soon. Part of it is going to come through regulatory clarity.”
Tom Lee concluded by saying that the regulatory scrutiny of crypto scams would benefit the industry by easing consumer and institutional anxiety about the burgeoning industry.
“Digital assets are going to be relevant in a world where growth is increasingly digital,” Lee said. “So bitcoin is a real bet on [the future].”
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Bitcoin News

Early 2017 Crypto Investors Are Rapidly Starting To Sell Bitcoin

The CEO of a major crypto trading company Michael Moro reaches today’s crypto news for his opinion that early crypto investors that bought bitcoin in 2017 for the price of $1,000 are not starting to sell massively. While speaking to The Block, Moro who provides investors access to block size liquidity in order to buy and sell cryptocurrencies explained that the large investors are now moving their funds for the first time now since bitcoin was just $1,000. He said:
 “We are seeing the folks who bought in early 2017 sell for the first time today.’’
He added that the majority of the Bitcoin early investors that purchased Bitcoin in the first quarter of 2017 now believe that they are seeing zero return on their investment. As of today, November 20, the price of Bitcoin reached a new low again for a second time this week going down under the $4,753. CryptoDog, a technical analyst explained the current bitcoin drop:
 “The bears aren’t even pushing, BTC is just free-falling. Very weak dump, imagine what it looks like when the volume comes in. A short-term reversal could happen at any moment – shorting with high leverage is a terrible idea. However, if you are trying to knife catch, be patient. No one should be in a rush to long this.’’
Despite the drop, BTC’s volume increased to $8 billion which as a more than 60 percent increase while expecting BTC to establish a bottom trend at $4 billion. This is one of the reasons why the investors who bought BTC at $1,000 are considering selling a huge part of their holdings fearing that another drop might be happening in the next few days.
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Altcoin News

Bitcoin Takes A New Beating, Goes Below $4,500 As Market Loses $25 Billion

It seems like the downward trend for Bitcoin is continuing day after day. This Tuesday, the market just wiped out another $25 billion in a new major sell-off that is viral in our crypto news section. Over the past 24 hours, Bitcoin has lost about 14% of its price, while Ethereum lost 14.5%. Bitcoin Cash was the biggest loser again, losing 45% from its value and Stellar (XLM) followed with 10% losses accordingly. As expected, Bitcoin Cash dropped the most because of its hard fork and the quick sell-off that it triggered over the past few days. The newly produced versions of Bitcoin Cash (BCH), Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC) also suffered losses. While BCHSV fell from $170 to $60 in a three day span, BCHABC fell from around $450 to $270, almost splitting in half. The current market conditions are quite gray - mostly because of the intensity of the drops over the last 24 to 48 hours. A couple of days ago, Bitcoin was trading near $7,000 and today we are noticing a downward trend that may lead the most dominant cryptocurrency even below the $4,000 support line - if this bearish trend continues. A sell pressure on the other altcoins could also intensify in the days to come - pushing BTC, ETH, XRP and BCH to even lower limits by the end of this year.
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