Is Craig Wright Satoshi Nakamoto and Why Does It Matter

 

Why I believe Craig Wright (CSW) is Satoshi Nakamoto:

CSW possesses a unique combination of knowledge and expertise in programming, cryptography, game theory, mathematics, economics, law, and philosophy - all key skills necessary to create a decentralized digital currency like Bitcoin.

CSW's background as an autistic individual could explain his ability to solve complex problems like the Byzantine Generals problem, a hard problem in computer science.

CSW was in the right age range and had enough life experience to have a deep understanding of the issues he was trying to solve with Bitcoin.

CSW has publicly claimed to be Satoshi and has provided proof that he is the creator of Bitcoin.

I believe that CSW acted alone in creating Bitcoin and that he released it anonymously to prevent it from being stomped on by authorities and to avoid potential legal and criminal problems.

Does it matter if you believe Craig Wright is Satoshi Nakamoto?

Yes, it matters if you believe Craig Wright is Satoshi Nakamoto because it can affect your investment decisions. If you believe he is Satoshi, you may be inclined to invest in the BSV chain.

Hyper Bitcoinization will happen when a country or more officially launch their CBDC on the BSV blockchain. The BSV blockchain is the only one that can scale to accommodate this. Craig Wright has stated that he aims to take BSV to 10 Million transactions per second this year and work towards an unbounded limit. He has also claimed to be working with some countries on this, without naming them.

When Hyper Bitcoinization happens, everyone in the world will suddenly realize the value of BSV and there will be a mad rush to acquire it. The demand will be so great and the supply so limited that the price can double every hour or less. Very few exchanges list BSV and so most will be traded "in wallet" or over the counter. For the majority of people, it will be basically unavailable. This is why it matters if you believe Craig Wright is Satoshi. If you believe he is, you would have acted before Hyper Bitcoinization and it will change your life.

Craig Wright is Satoshi Nakamoto and if you are interested in Bitcoin or crypto you should care.

 It is your money!

Who is Bitcoin? 

An early article I wrote in December 31 2015 on the possibility of Craig Wright being Satoshi Nakamoto. This was after watching a panel where Craig spoke via video conference. I wondered then how and why he was chosen to speak but it was from here that the whole Craig Wright / Satoshi Nakamoto affair was set alight.

Is Craig Wright Satoshi Nakamoto and does it matter?

I first wrote about this in an article June 24 2017. Hard evidence was not available to prove one way or the other but my conclusion then was that it does matter because if you had a bob each way on the wrong horse you will lose your hard earned money.

Early this year I decided to write about the early blockchain historical NFTs  built on Counterparty. In writing about the Genesis Card, I broached this subject again and concentrated on the events before during and after the creation of the Genesis block. Was it a group or was it just 1 person who launched the genesis block? My conclusion was that it was 1 person or someone would have spoken about their role in it.

Yesterday Kurt Wuckert interviewed Stefan Matthews and many of the early gaps in our understanding on the Bitcoin story is being filled. ( https://www.youtube.com/watch?v=R03ypV9CsTc )

If you have skin in this game then it should be evident that as this truth become widely acknowledged and accepted the price of BTC and other cryptos will head south at a corresponding speed. The price of BSV however will experience a pricing event in the opposite direction. This could happen rather quickly as the big money would move first and fast.

Perhaps what we see now in this bear market is a reflection. I give no credence to the China mining nonsense. Miners dropping out temporarily does not affect the BTC blockchain one iota. 

BSV scales today and is already capable of 100,000 transactions per second. Some still promise, others like EOS failed when put to the test. Scaling is not just being fast it is taking on everything that you want to throw at it. BSV can and that is all you need to understand. Everything else is noise.

The Collossus Of DAO - DAO SOG CARD

 

 The Colossus Of Dao

DaoSogCard - The Colossus Of DAO

Issued : Wednesday June 15 2016 , Epic card.

In Circulation :  600   ( Click to see distribution of card holders ) 

Card Description :  The Colossus of Dao is empowered during the annual congress of Ether. The Ether knights lend him their magical forces. Holding so much energy, the Colossus is able to withstand all threats.

Artist Impression : Spells Of Genesis artist, taking a leaf from one of the lost wonders of the ancient world - The Colossus Of Rhodes. 

This is an epic card with issues locked at 600 units. Although 600 is the maximum number in existence. The true number will never be known as like Bitcoin owners may have lost passwords or keys.

Legally Everdream Soft owns the copyright to the image, even though others may own copies of the card. The situation is similar to owning a limited edition copy of a book.

DaoSogCard is an epic card and was issued to commemorate the infamous DAO project which was hacked and which lead to the reversal of the Ethereum blockchain to recover hacked funds. This was a very controversial event as the blockchain was suppose to be immutable. It marks a very important part of the history and controversy in blockchain history.  A true collectors item. 

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The Marketplace  How Much Is An NFT Worth ? Short article   HERE

DaoSogCard price on the Dex :  Counterparty Dex 

Open Sea :  Opensea  

Opensea is the largest peer to peer marketplace for trading digital assets.

Auction : @nftauctions 

An auction house is the best place for price discovery. Theo Goodman started his telegram site @nftauctions to do this. Sellers send their items to him on escrow and buyers register to bid. This is a trust based system.

A competing auction is also conducted by Bradley Hughes under @roaringauctions

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History

A depiction of the infamous “The DAO” project. The colossus was supposed to be invincible, powered by Ether holders. The artwork was released just a day before The DAO got hacked.

DAO is an abbreviation standing for  “Decentralized Autonomous Organization”. Its goal is to create a structure with decentralized control, without people or groups governing the organization. Thus it was trusted to be uncorruptible.

The DAO got very popular and by the end of the funding period, it was the largest crowdfunding in history, having raised over $150m from more than 11,000 backers, far more than expected. In mid-June 2016, an unknown person or group attacked The DAO, exploited a software vulnerability, and started draining Ether, from the main address where it was stored. 

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Related Articles

Non Fungible Tokens. NFTs. The Ultimate Store Of Value. 

How much is an NFT worth ? HERE

Bitcoin Origins - Genesis Card

The Stealing Of Mt Gox - GOXCARD

First Bitcoin Fork - Blocksizecd

Note : Please feel free to contribute in the comments to improve this page and to use, for promoting your sales.

Many Countries Will Ban Bitcoin

 Many Countries Will Ban Bitcoin And Other Cryptocurrencies In National Commerce

Except for small countries that do not issue their own currencies. Some countries choose to use the US dollar or Euro. These countries will use BTC or Crypto as a bridge towards issuing their own digital currency when this technology matures and scales for use as currency.

Over the last two days we saw the Crypto market tanked. About 600 billion in market capitalisation was wiped off the crypto board. Many attributed this bear stomp to first Elon Musk then to China banning cryptocurrencies. While they may hold a grain of truth it is just part of the gyrations of the market finding its way to relevance. 

Since it's inception in 2009, cryptocurrencies have evolved to the point where it is now mainstream, and since China launched the digital Yuan a year ago every country including the USA is rushing to launch their own. 

Launching a digital currency is not difficult. It is just another digital token, and anyone can create their own quite easily. The problem lies in control of the computer network safe guarding the security of the token. Every country will need to control the issuance, destruction and use of their digital currency within their own borders.

The digital Yuan is different from Alipay in that the digital Yuan is built on a computer network controlled by the Chinese Government. Alipay is just a Yuan clearing system run on Alibaba's own computers, essentially a bank. When the time comes Alipay will have to switch to the digital Yuan directly. In other works ditching their whole payment network setup.

The Chinese government computer network is the BSN ( Blockchain Services Network ) of which there are two versions. A internal Chinese BSN and an external International BSN. This means that the whole Chinese digital economy will be walled off from direct competition. It can only be access by a bridge between the International BSN and Chinese BSN. What form this bridge takes is still in development. 

Building a blockchain

Any country wanting to issue their own digital currency will face the same issues. Should they build their own BSN, Use the Chinese International BSN or Build it on a decentralised private or public network. Setting up a network of nodes to operate a blockchain is expensive. We are talking about the currency of a country which is a national security issue. Computer systems and network can be hacked. For most countries running their own BSN network will not be viable.

The Chinese international BSN can be used to run any blockchain applications including digital tokens but few will want to trust their currency on a "Chinese Network".

The only choice remaining will be to build their digital tokens on a private or public blockchain. The question then is which blockchain. The issue is one of scale. Bitcoin (BTC) does 7 transaction per second while Visa does 1700. This is still way too small. We need unlimited transactions.

The only blockchain that can scale to these proportions is the BSV blockchain. Governments like Tuvalu, Norway and Columbia are looking into this and Tuvalu will most probably be the test case to prove the viability of running a currency on the BSV blockchain.

Ban Bitcoin

When a country is ready to launch their own digital currency they must ban all other forms of payments within their borders. All forms of payments including cryptocurrency payments will be banned, and made illegal. Only one digital currency will be legal tender within their borders. Even the digital Yuan or any other country's digital currency cannot be used. It has to be converted through an exchange.  An instant currency swap system. China is possibly very close to officially rolling out their digital Yuan.

Any crypto currency that profess to be a payments system will be banned, made illegal or become redundant. A blockchain will need to find other uses other than "money". 

Some countries will choose to use the digital currency of another country but these will mainly be smaller countries or countries where the citizens trust in the country's currency is low or no existent. Countries such as Zimbabwe. Doing so will mean that the country will be adopting the monetary policies of the country's currency they choose. This is where the digital Yuan being first to market will have an advantage.

Only the BSV blockchain scales

We have all seen the fees for BTC and Ethereum go into tens of $dollars per transaction whenever the network gets congested. Any system that rations their limited network capacity through fees will not be able to scale to the extent required of a national currency. Even the EOS blockchain with "free" transactions became unusable for days on end. 

It comes down to blocksize. BSV is committed to unlimited blocksize. Fees paid per transaction are miniscule and can go even lower. If miners agree transactions can be processed without fees. Countries that tokenised their currency on the BSV blockchain can pay miners to include all their transactions directly by negotiations. Their users paying no fees. This is only possible if the blocksize is unlimited. 

In conclusion just one caution. Invest carefully.

Caught The Train But Missed The Station !

 Caught The Train But Missed The Station

Early Adopters Don't Necessarily Win

Crypto has gone mainstream. However, most people coming into this space for the first time think that they are late to the party. That is not true. Over the years the crypto space have moved from just Bitcoin to Alt coins to competing platforms to decentralised finance and Non Fungible Tokens, and yet this space is still changing and evolving.

Take crypto as a monetary unit. How many would have believed that BTC today will be worth $60K? Very few, and those that rode the train to this stop must have locked away and left their BTC untouched. Most would have traded out, reinvested in other competing tokens or invested in worthless schemes if not scams. 

Take Doge coin. The copper to Bitcoin Gold. I first wrote about it here and always believe that the support base was young, fanatical and crazy. I myself have owned, invested sand divested tens of millions Doge many times over and yet never rally made a profit. Something at the back of my mind can't get to grips with 10 billion issues a year. Still don't but look at it today. Again if you have 1 million doge you forgot about in a wallet somewhere....!!

Early adopters do not necessarily win. It was the wild wild west then and threats from regulators was always a drag on adoption. So what have I learned? Holding on to an asset waiting for it to rise in value is very hard to do. When do you get off?  Do you get on again? Price can swing as much as 50% in a very short time or it could lasta year or two. So many end up buying high selling low. What a Comedy but that's life. 

Hodle, but what coins? Remember the Dotcoms. Many failed but a few like Google and Facebook became world dominating mega corporations. The same will be true for Blockchain. The successful coins will have to be useful and widely accepted.

Many coins profess being a digital currency as a use case. This is not going to happen. Every country will want and need to have a local currency they alone control. This is a national security issue. The only legal digital currency for local commerce will be their own. Every external country's digital currency including cryptos will be outlawed . Can they control this? Yes. Movements of Digital currencies by it's nature is transparent. The IRD will require explanations for any unusual flow ratios. 

This means that Bitcoin, Bitcoin Cash, Litecoin, Dogecoin and many other similar coins that  are not platforms for building projects can't be used firstly because they will be made illegal and secondly because they can never scale far enough for this purpose.

Unless they can be used as money, they can't really be a store of value like art and precious metals. If countries were to accept Bitcoin or something similar as a reserve asset, then only countries must hold the vast majority of that asset. Fr Bitcoin and similar cryptos, this condition can never be met. 

Countries hold other country's currency as reserve assets because it is used in international trade between countries. By this reasoning, because Bitcoin is not a reserve currency it cannot be used for international trade settlement. You may say that some companies are doing this already and you will be right but it is in a transitory space. National digital currencies are not in used yet.

Platform coins like Ethereum, Cosmos, Polkadot, Cardano, Eos and other similar coins have a better chance to remain relevant and future proof. In this Ethereum holds the lead. It is quite possible that Ethereum can overtake Bitcoin in crypto dominance in the near future. This will certainly raise eyebrows about the viability of Bitcoin long term.

In terms of scaling Bitcoin SV is the clear winner. It has the largest blocksize. Voluntarily capped at 2GB, it can be raised in future without hard forks. In addition BSV base protocol layer is frozen. Developers can build applications without worrying about reworking every time a change to the protocol is made affecting their application. National currencies can be tokenised to operate on the BSV chain. Expect this to happen as we move towards micro payments and Internet Of Things.

For store of value Non Fungible Tokens will be the new asset class. Which NFTs and on what platform has yet to be played out and will continue to be an evolving landscape. NFTs that sell for thousands and millions today may be worth nothing in future.

Best way to Hodle

Thanks to Defi, we now have a new way to hodle and earn an income. If you are saving for a retirement a little put aside every month into a mutual fund will add up to a sizeable lump sum for your retirement. 

We can now do this with crypto. There are many platforms and methods. I will not go into the mechanics but the principle is that you deposit the coin that you want to hodle and earn an income stream for doing that. That income stream can be reinvested resulting in a system of compounding the weekly or even daily. 

With this system in 3 to 5 years your hodled coins could increase in value many times over and/or you get an investment model that generates a good income stream for your retirement.

Do your own research on which system to use. The Kava platform from the Cosmostation wallet is one..