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Category Archive: bitcoin satoshi nakamoto

Ten Years Of The World With Bitcoin Living in a crazy-crazy crypto world.

Bitcoin rose from unknown to mainstream recognition largely thanks the incredulous surge in value it saw in 2017. But then the price went down, sparking yet another heated discussion about the volatile unpredictability of the bitcoin.

Nowadays, discussions are all at their all time hype, but worth just as long as the participants know what they are talking about; and the audience has at least some grasp of the matter. But it rarely happens, as the vast majority of experts are as clueless about the intricacies of the crypto markets as is the general audience.

The infographic below, provided by our friends at BitcoinPlay, will not make us all marketing gurus but will give you a much better understanding about the driving forces behind the world’s first cryptocurrency, how it came to be, who embraced it first and how countries are handling it.
Here’s a selection of our favourite ones:

  • On May 22 2010 two Pizzas cost 10k bitcoins.
  • In 2013 FBI made $48 million by selling on auction one seized 144,000 Bitcoins.
  • 100$ invested in July 2010 is now 18.8 million.
  • Since april 2017 Bitcoin is legal payment method in Japan.
  • Blockchain ledger technology when used by top10 investment bank could save $8-$12 billions.
  • Chinese Mining Pool control approximately 81% of the Bitcoin network’s collective hashrate.
  • Overstock, Dell, Expedia, Dish and Microsoft accept Bitcoin payments.
  • University of Nicosia, Cyprus was the first University to accept tuition to be paid in Bitcoin.
  • Bitcoin is vat free in Switzerland.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack

Craig Wright Announcement affected the Bitcoin price

craig_wright_satoshi_nakamoto
During this last week, Bitcoin had a low trading volume and its price dropped when the Australian entrepreneur Craig Wright said to be Satoshi Nakamoto, the creator of Bitcoin. 
So, according to Coindesk, Craig Wright’s announcement affected the Bitcoin price.
Traders moved only 7.7m BTC during this week, according to Bitcoinity, much less than usual.
Bitcoin started the week at a price of $449.86 on 29th April. This price reached $456.84 that same day. 

Craig Wright announcement

The currency price was between $450 and $445 on May 2nd, or the day of Wright’s announcement. 
Both Gavin Andresen and Jon Matonis, two of the most popular people in the Bitcoin market, wrote a blog post supporting Wright, but this announcement generated skepticism, and the proof Wright provided to support his identity didn’t convince anyone. 
To prove the Bitcoin paternity, Wright tried to show the private keys he used for the the first blocks mined back in 2009. But it was a false and later Wright deleted those announcements, explaining: 

“I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me. But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot.”


Bitcoin Price results

Wright’s announcement has had a great impact, as bitcoin price arrived to value an amount of $439.89 on May 2nd. 
After that, Bitcoin price rised again to $445 and $450 on the same day.
So, even if the greatest part of bitcoin and crypto lovers commented that Satoshi Nakamoto anonymity is not a problem and they don’t care about who he is, the Craig Wright’s revelation quickly moved the Bitcoin price thus creating high volatility. 

News to reduce Bitcoin volatility

While Craig Wright drew the attention, there were two other news that could reduce the bitcoin price volatility, explained Chris Burniske to CoinDesk.
The first one was related to Amazon Web Services (AWS) that announced its partnership with the Digital Currency Group (DCG). 
And this is a huge validation for Bitcoin. Read more here. 
The second important news of the week according to Burniske is related to the CME Group Inc:
“CME Group Inc’s public intent to publish pricing data is a significant step towards more bitcoin derivatives, and follows upon NYSE’s Index, which is owned by Intercontinental Exchange Inc, another derivative exchange heavyweight”.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio