Sunday, 3 November 2013

Bitcoin Summary - On Going Update

"The Bitcoin protocol: from Satoshi Nakamoto, mysterious individual or team developers, single key cryptology,, extraordinarily large numbers create secure online cryptological prime numbers, factorising integers to create large numbers, requires a lot of processing power to get those numbers. The insight was to distribute that processing to a network, reward the network by calling the solutions coins or money, distribute that money, use that money as a currency limited to 21,000,000 coins (11,000,000 coins currently; video: 24:50mins). You have a virtual scarce good."
Max Keiser 2013 from Alessio Bets Max Bets Warren:

This is a Bitcoin summary, to be updated as and when new information arises. I was surprised, speaking to friends last week, they had never heard of 'Bitcoin'. I have an 'A' level in economics from another age, but far from a financial expert. Then again, who is? Financial terrorist and con trickster seems all too often appropriate terms. Anyway, this is my on-going Bitcoin watch, perhaps helpful for some.

Bitcoin is being used to buy goods and services. It is perceived as a threat to the established centralised banking systems and therefore, a threat to private controlling interests. An extreme scenario could be that it is a controlled 'false flag' initiation to drive the global money system toward a centrally controlled cashless society and system. It seems it has been designed to liberate the money system; provide an independent currency rather than a controlled and manipulated one.

My take is you purchase Bitcoin as you would gold. You pay money and buy some from some one who has some, not a centralised supply source. It is different to the fiat fractional banking system because the numbers are limited to 21,000,000 Bitcoins and, therefore, a finite supply. Quantitative easing is apparently infinite; until it the infinite runs out and it all comes crumbling down...
Bitcoin maybe the among the first of alternative systems to traditional currency systems. I once wondered if there were physical Bitcoins because I saw photos and a chap holding one - these were intended as symbolic illustrations for media articles. There is no physical Bitcoin.

Useful related links...
Bitcoin - The Anarchist Virtual Currency
The Guardian: Bitcoin: the fastest growing currency in the world: video:

Max Keiser on Bitcoin:
Karl Denninger BitCon: Don't:
Trade with confidence on the world's largest Bitcoin exchange!
‘Challenging the dollar’: Bitcoin total value tops $1 billion:
The Spectator: How Bitcoin could destroy the state (and perhaps make me a bit of money):
Washington Post: The rise of the bitcoin: Virtual gold or cyber-bubble?

I have followed Max Keiser for a few years and recommend Alessio Bets Max Bets Warren:
e.g transcript:
Keiser: They are scared of Bitcoin because they can’t manipulate it; they can’t regulate it the way they are not regulating everything else. Bitcoin is a true supply and demand currency; they don’t want to true supply and demand. If there was true supply and demand in the interest rate and bond market, interest rates would be nearer 5-6%, not 1½ % on a 10 year bond; Paul Krugman writes an editorial in New York Times where he’s fellating Ben Bernanke in public... as an American, I cried."

I like a comment I saw: the underlining factor of all money: it is really only valuable because we believe it is valuable.
Can we exist without money? Michael Tellinger proposes we can, he explains from about 1hour 55mins during his presentation at the Global Breakthrough Energy Movement (BEM) conference in 2012 in Holland. This is the kind of man and presentation the conventional mainstream would dismiss as mad. I found him engaging:

Bitcoin Hacked: Price Stumbles After Buying Frenzy:
It seems it has survived the attack: What Is Bitcoin? Tom Woods Talks to Erik Voorhees: interview:
Erik Voorhees: Bitcoin Libertarian Introduction:

I am watching for gold and silver to rocket at some point, but hey, following current affairs is a bit like DJ-ing in my Soho days and monitoring which up and coming new bands are likely to make the big time. Bitcoin looks interesting along with gold and silver and perhaps worth a punt for around the $220 price as I type. Like Gerald Celente, I do certainly do not give financial advice! The current Chairman of the Federal Reserve has said gold is not money:
Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011
I guess that infers he has little faith in Bitcoin either. Max Keiser has stated on Russia Today, The Keiser Report, he has about 20,00,000 millon viewers. He says despite the official market spot price of gold and silver, the demand for physical gold and silver at ground level is at record highs. This infers gold is seen as money by the public. The Keiser Report: Paper Jihad (E439):
Ron Paul and Jim Rogers on the government: "They'll use force and they'll use intimidation..."
Nigel Farage on "wholesale, violent revolution" in Europe:
Jim Rickards on gold at the Sovereign Man event in Chile:!
Rowan's blog:

So, on with... Bullish on Bitcoins:
Bitcoin crashes over 50%:
Bitcoin: the fastest growing currency in the world - video:
Why Bitcoin will succeed:
What are Bitcoins?
Is Bitcoin about to become mainstream? Canadian coffee shop launches Robocoin - the world's first ATM for the digital currency:
U.S. seizes $28 million in bitcoins from man linked to online drug market:

My concern for Bitcoin would be the break down of the electrical system and therefore, the internet. What happens to your Bitcoins then? Could Bitcoin 'promises to pay' paper notes be printed? I suspect this virtual currency concept is here to stay for at least a while. This posting was inspired following a comment response to Tap Blog:

Bitcoin Virtual Currency: Passing Fad Or Worthwhile Investment:

Bitcoin hits all time high $309:

Simon Black, comments:
Senator Tom Carper (Delaware), Chairman of the Senate Committee on Homeland Security and Governmental Affairs, is confused about Bitcoin. Yesterday at a hearing about digital currencies, witness after another testified about the potential evils of digital currencies, including representatives from:
The Homeland Security committee
Criminal Division of the US Attorney General's Office
US Secret Service Criminal Investigative Division
The Financial Crimes Enforcement Network
The International Centre for Missing & Exploited Children

The message they're sending is clear: digital currencies like Bitcoin equate to crime, terrorism, and child exploitation.

The testimony from the chief of Financial Crimes Enforcement Network (FinCEN) cited the benefits of digital currencies, including:
Simple, easy to navigate
Lower fees than the conventional financial system
Globally accessible
Can be used as both a store of value and medium of exchange

Yet, in listing all of these benefits, FinCEN's chief was actually trying to make a case AGAINST Bitcoin; in her mind, only criminal terrorists want low-fee, secure, globally accessible money. These politicians and bureaucrats can't wait to get their arms around digital currency to regulate the hell out of it. They don't understand it Bitcoin, therefore they think it's dangerous.

Even the World Bank president (a US government appointed) weighed in on digital currencies. Their entire argument begins with the deeply flawed premise that financial privacy is somehow wrong, immoral, and nefarious. There's no sense trying to convince them otherwise. We can expect more hearings, more regulation, more disclosures.

On the other side of the world, they're not afraid of Bitcoin. Places like Hong Kong and Singapore understand that they have a role to play as preeminent international financial centers in becoming financial hubs for digital currencies. Asia is embracing its potential role in the marketplace, complete with all the risks and rewards. A few weeks ago a Hong Kong-based Bitcoin exchange ran off with a few million dollars of customer money. But, that hasn't cooled demand in the region... nor has it sparked a wave of debilitating regulations to clamp down on digital currencies. This means all the new businesses and intellectual capital associated with digital currencies will flock to Asia... just in the same way that all the cutting edge precious metals firms are now basing themselves in Singapore.

The US government is sharpening its steak knives in anticipation of a great digital currency roast, but they'll find out very soon that Bitcoin has left the building... and moved on to greener, safer pastures in Asia.

Bitcoin Rips to $900, Before Falling to $650 – all in the space of 30 minutes?

Bloomberg says Bitcoin is doomed:
Max Keiser says not only is Bitcoin heading upward, but check out Litecoin:

Bitcoin tops Paypal for first time:

Bloomberg: Bitcoin is still doomed:
Max Keiser on Bitcoin and Litecoin:
Bitcoin price:
Litecoin price:
Bitcoin: Get out while you can:
The True Value of Bitcoin: What You Really Need To Know
About Litecoin:

China Bans Banks From Trading With Bitcoin:
Bitcoin Heist: Millions Vanish from Online Black Market:

Producer of Physical “Casascius” Bitcoins is Being Targeted by the Feds:
Bitcoin For Brownstones: You Can Now Use Digital Currency To Buy New York Real Estate:

02.02.2014 - DOJ Finally Going After The Criminal Masterminds With Arrest Of 24 Year-Old Bitcoin Exchange Founder:
06.02.2014 - Bitcoin: Revolutionary Game-Changer Or Trojan Horse?
08.02.2014 - A nation breaks the shackles of a fiat currency:
Andreas Antonopoulos: Bitcoin: starts 47mins in...
Bitcoin, Maxcoin & The Real Solution:

27.02.2014 - As bitcoin exchange MtGox collapses, man who predicted the crash implores bitcoin holders to stop being suckered into a digital Ponzi scheme:
Max Keiser 25.02.2013: "There is a lot of venture capital being invested in the Bitcoin sector right now. Much of that investment is going into the infrastructure, processes, and technology to provide the kind of safeguards that are mentioned in that paragraph. We are witnessing the maturation of a sector and part of that will inevitably be failures, crashes, and other messes. Almost every technology that I’ve watched come into a mass adoption has gone through these sorts of growing pains. One big difference is that in addition to technology, we are also talking about people’s money when we talk about Bitcoin. To me, that doesn’t change the discussion and the implications, but it sure does amplify the emotions around it.
Full disclosure: I bought a little Bitcoin today. Not much. But I always feel good buying when there is blood in the streets in any market. It is my favorite time to buy."
Chinese investors rushed to buy bitcoin, seeing it as potentially undervalued, after the value of the virtual currency fell following the shutdown of the Mt Gox bitcoin exchange this week.
Max Keiser 26.02.2013: "Since Tuesday, more than 30,000 bitcoins have changed hands in China. That’s four times the usual trade volume, and compares with just 300 exchanged in the United States."
Max Keiser 27.02.2014 Why Mt. Gox Had to Die – And the Future of Bitcoin:
[69] Max Keiser on crypto-currencies & Dean Baker on aggregate demand:
The Collapse Of Bitcoin:

Statement on Mt.Gox by Andreas M. Antonopoulos:

02.03.2014 - Why Bitcoin true believers are still delusional even after the collapse of MtGox:
08.03.2014 - Bitcoin firm CEO found dead in suspected suicide:
Satoshi Nakamoto, Creator of Bitcoin, Has "Done Classified Work for Major Corporations and the U.S. Military":
U.S. Senator Wants To Ban Bitcoin? Hypocrisy?

10.03.2014 - Bitcoin refuses to flip: Virtual currency stays strong despite bankruptcies, gyrating rates:

13.04.2014 - Bitcoin plunges below $400 as Chinese exchanges halt bank transfers:

18.04.2014 - Bitcoin for Activists – What You Need to Know:

22.05.2014 - Rethinking Bitcoin: Health Ranger acknowledges value of peer-to-peer crypto currency in age of impending debt collapse:

27.09.2014 - Bitcoin $10,000 within 3 years:

03.11.2014 - G. Edward Griffin: Why didn't I send this to you in 2012 ?

The topic of this email is cutting-edge and controversial. It's at the center of one of the most heated debates ever witnessed among economists, politicians, bankers, and philosophers. That's because it's about the nature of money. To be more specific, it's about what the nature of money should be.

The reason for raising the issue of why I did not send this analysis to you in 2012 is to focus on two facts. The first is that, if I had done so and if you had acted on it, you would have made a lot of money. In fact, your investment would have multiplied twenty-five times!

The second fact is that, in 2012, I didn't have enough information to offer an opinion on this topic, and I didn't want to endorse something that I didn't fully understand. There are risks with any investment, but this one is unique because it represents something entirely new, something that never previously existed in history. That means there also are risks that previously never existed, and I wanted more time to find out what those might be before entering into the debate.

The experience of the last two years has provided the answers. It now is possible to identify, not only the unique risks with this investment, but the unique advantages as well. To explain what those are is the purpose of this report.

By now, you undoubtedly have heard about Bitcoin, usually described in the news as crypto-currency or digital money. You have heard that some people became wealthy from it, that some lost money when a dealer went bankrupt, and that the Chinese government recently told its banks to stop accepting it as money.

By following the links in this report, you will learn exactly what Bitcoin is and what makes it unique in the historical evolution of money. You also will see the status of this global money system after absorbing the shockwaves of a bankrupt dealer and the China declaration.

In my view, Bitcoin is an important experiment in monetary freedom. It offers a potential alternative to the world's national fiat currencies that now serve as mechanisms of legalized plunder on behalf of governments and their banking partners.

I would like to state clearly that I do not endorse Bitcoin as a get-rich-quick scheme, nor do I believe that it is without risks, which I will identify shortly. Because of these risks, it would not be wise to place all of your savings in Bitcoin. Bitcoin is not gold. It has not been around for thousands of years. It has not stood the test of time and proven that it will hold value. It is volatile. It is unpredictable. It is brand new.

Here is a summary of the risks associated with Bitcoin as I see them.

❶ Bitcoin has no intrinsic value, which means it has no use except as money. Intrinsic value is one of the time-tested characteristics of successful money systems. The arrival of the digital age may lessen the importance of this feature but, if there should be a long-term collapse of the Internet (think EMP or X-Class solar flare), Bitcoin could not function. However, the same can be said of checkbook money, savings accounts, credit cards, stocks and bonds, and just about everything else except precious metals and life-necessities in one's physical possession.

❷ Governments recognize that Bitcoin is a threat to their fiat currencies and will attempt to demonize it (through the media) and place legal barriers against its use. However, the same can be said of precious metals and food stockpiling. In both cases, citizens eventually may have to choose between becoming lawbreakers or protecting their savings.

❸ Although it may be impossible for the number of Bitcoin to be increased beyond the built-in limit (which is what holds the currency's value over time), imitators will enter the market with new currencies based on the Bitcoin model. This process already has begun. Competition is healthy, because it allows freedom-of-choice and insures that only the best options succeed. Eventually, it is likely that two or three of the most popular crypto-currencies will become the market champions. The potential down side is that the total number of spendable units in all of the currencies combined would not be as limited as if there were only one. Even so, the inflationary effect of this phenomenon would not even be close to the devastating loss of purchasing power that is built into fiat currencies. In fact, the addition of a second or third crypto-currency actually might be beneficial because it would allow the gradual expansion of the money supply in response to the expansion of goods and services. The net effect would be similar to mining more gold in response to rising gold prices caused by consumer demand for more gold money.

❹ Bitcoin accounts are computer based and, as such, could become targets of sophisticated hackers. If hackers break into a dealer's computer, it would be possible to transfer credits to other accounts without a trace of where they went or who did it. However, the same can be said of online bank accounts, savings accounts, and brokerage accounts.

❺ Bitcoin is still a new phenomenon and may contain additional risks not yet perceived.

Now let's look at the advantages of Bitcoin. Here is the question:

In spite of the risks and the powerful forces loyal to fiat money, does Bitcoin have the potential to advance the freedom movement and, at the same time, improve your personal financial position?

Allow me to introduce you to Max Wright who is in the best position to answer that question. I first learned about Bitcoin in 2012 from Max who, incidentally, has been a member of Freedom Force for many years and who helped organize the first Australian Freedom Force Meet-Up in 2006. His excellent understanding of monetary history gives him a solid foundation for explaining how Bitcoin fits into the evolution of currency. Max has written and spoken on this topic worldwide, and he is the reason I first became interested in the technology.

Max recently published an excellent report that shows just how big the potential of Bitcoin is, and he has agreed to send you a free copy. You can get your copy:

When you receive this report, you also will find a link to a short video in which Max reveals his predictions for Bitcoin in the next 12-24 months. These are just predictions, of course, but they are well worth considering.

Does this mean that I have given up on gold as the ideal money? Not at all! I am still the same Gold Bug I always have been. However, here is something to think about.

When gold and silver rise in value, it generally is a result of a decrease in purchasing power of fiat currencies. An ounce of gold today buys approximately the same basket of goods it bought a hundred years ago even though the number of dollars it represents is much greater. Acquiring gold or silver, as good as that is for protecting the purchasing power of your savings, does nothing to improve your wealth. For that, you need an income, a source of revenue, a profit on your investment. Except in times of economic panic, when the masses rush to exchange their fiat currency for anything of intrinsic value in the last stages of currency collapse, gold and silver do not produce an income.

If Bitcoin becomes widely accepted as money, it will become exactly like gold and silver in this regard. Possessing or spending it will not produce income. Like all good money, it will be passive in that regard. It's total function will be to measure the value of goods and services and be available as a medium of exchange.

Right now, however, Bitcoin could experience an upsurge in value during the transition period leading to its universal acceptance, and therein lies the potential for a stunning growth in value from an increase in demand that far outpaces its supply. In that event, real income would be the result ̶̶ just as it occurred over the last two years. We do not have to abandon faith in gold and silver to realize that, if we have funds somewhere that we can afford to risk, it might be smart to acquire Bitcoin.

As stated at the beginning, if I had sent out this information two years ago when the price of Bitcoin was $12, it may have made a big difference to your savings or retirement account, given that one Bitcoin now is worth over $300. According to Max’s predictions, there still is a lot of room for growth.

I hope you enjoy learning about this new technology.

G. Edward Griffin

05.11.2014 - Will Bitcoin slay the Creature from Jekyll Island?

The flood of comments received in response to my recent report on Bitcoin shows, not only that our readers are intensely interested in this topic, but that they also are quite knowledgeable about the nature and function of money. Most of their questions are profound and require a great deal of thought. Some of them (and my responses) are published in the Forum section of Unfiltered News.

The question asked most often, however, is not in that category. It is simple, direct, and practical: Does Bitcoin have the potential to replace government fiat money? Will it put an end to inflation and legalized plunder? Will it lead to the demise of central banks, such as the Federal Reserve System? In other words ...

Will Bitcoin slay the Creature from Jekyll Island?

The honest answer to that question is that it depends on two things: (1) the degree to which the public embraces Bitcoin as an alternative form of money and (2) the degree to which the advocates of fiat money (governments, banks, and their legions of beneficiaries) succeed in demonizing and outlawing it.

Make no mistake about it, the battle lines are drawn, and that is precisely why the interest in Bitcoin is so intense. You who read my stuff every week are fully aware that the stakes are high ̶ very high, indeed.

It was Thomas Jefferson who said:
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks... ll deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

Bitcoin has the potential to do exactly that.

Bitcoin is a new technology, and there are things about it on the technical side that I do not understand, but I do know that there are risks involved, and the future is not predicable. This is a fascinating experiment in money and, in spite of the risks, or perhaps I should say because of the risks, there is a potential for stunning gains.

To begin the journey into Bitcoin's potential, I suggest you start here with a video from Bitcoin expert, Max Wright, explaining why he thinks Bitcoin is on the brink of going mainstream.

If it also helps slay the Creature From Jekyll Island, I am all for it.

But you decide for yourself. This issue is about as intriguing as it gets.

G. Edward Griffin

08.11.2014 - Andreas Antonopoulos Explains Bitcoin to the Canadian Senate:
Dutch Neighborhood Now Accepting Cryptocurrency:
North Bay Bitcoin:

26.11.2014 - An account by Max:
"Can you imagine taking a family vacation, only to be stopped by the Canadian Border Patrol and asked to turn over all of your passwords, banking account details, and personal photos from your phone and laptop?

Unfortunately that is what recently happened to me. I was detained for 2 hours at the Canadian border, and asked for all of my passwords to my cell phone, computer, and even my iPad.

For what? Having Bitcoin-related business cards in my backpack!

Can you believe it?

I couldn’t! I mean, Bitcoin is 100% LEGAL. In fact, the Financial Crimes Unit of the United States recently issued a statement that they see many valid and good uses for the digital currency. Heck, even and accept Bitcoin… but nonetheless I think it scares certain government officials. And I can’t say that bothers me one bit. It should scare them. Because they can’t really control it.

When I asked the unfriendly 50-year old border patrol agent why he needed this information, he made it very clear that entry to Canada was a privilege (not a right) and I was NOT entitled to answers. I felt very violated after this two hour detour, and I was inspired to do something about it."

23.09.2015 - THE BITCOIN BUBBLE - Andreas Antonopoulos:

03.11.2015 - Meet the digital currency that is a total scam:
It was back in May 2010 that the very first ‘real world’ Bitcoin transaction was conducted: 10,000 bitcoins traded for two Papa John’s pizzas.
Today that transaction would be worth nearly $4 million, probably making those the most expensive pizzas in the history of the world.
But back then it was considered revolutionary to trade a ‘digital’ currency, something that few people really understood at the time, for a real product.
People are still skeptical of digital currency. But the concept itself is not so esoteric.
As Jim Rickards reminded me some time ago, MOST currencies are digital, even the US dollar.

The Federal Reserve’s estimate of US dollar money supply is $12.1 trillion; yet only about 10% of that is physical cash in circulation.
The rest—more than $10 trillion—is simply a series of entries in banks’ core system databases.
In other words, the money in your savings account isn’t piled up inside your bank’s vault. Far from it.
Your savings doesn’t really exist. It’s all just digits in an electronic account ledger.
And yet we transact with these digital currency units all the time.
Whenever you use a credit card or send a bank transfer, you’re using the digital form of your currency.

This concept actually dates back to the Middle Ages when Italian bankers realized that they could conduct their transactions without physical money.
Rather than risk transporting gold coins across the countryside, medieval bankers merely annotated their ledgers with debit and credit entries.
They didn’t have the computers, but it was the same concept-- they kept track of transactions and balances on account ledgers, instead of with physical money.

In the late 1960s, the IMF took this idea to the next level when they created their own digital currency for the exclusive use of governments and central banks.
They’re called Special Drawing Rights (SDR, or XDR).
And even though the IMF’s balance sheet totals nearly 300 billion SDR (around $211 billion USD), not a single SDR exists in physical form.
100% of the SDR money supply is digital. Just like Bitcoin, it exists in computer databases, making it the digital equivalent of a 500-year old accounting system.

There is one key difference, though.
No one controls Bitcoin. But dollars, euros, SDR, etc., are controlled by central banks.
Federal Reserve, Banque du Canada, Bank of Japan, etc. all decide how much of their currencies to create.
The SDR in particular is a total scam; the entire reason it was created was because the system didn’t have enough real savings.
So they ‘solved’ the problem by creating a new digital currency that allowed them to easily conjure more money out of thin air.

But the even bigger risk is the commercial banks, which control your account balances. They keep all the records and ledgers, they hold all the keys.

This means that the ‘money’ in your savings account isn’t really yours. You don’t actually have any savings.

What you really have is a claim on your bank’s savings. Your account is just an entry in the liability column of their digital ledger.

When you make a deposit, you’re trading your money for a banker’s promise to repay you.

And there are countless regulations giving them the authority to break that promise.
(If you want to test this premise, try withdrawing $25,000 just to see how your bank reacts.)

That’s the system that controls your wealth today. It’s almost entirely digital. And it’s run by unelected bureaucrats whose interests are not aligned with your own.

This is not a free system. And any rational person should consider parking at least a rainy day fund outside of this system.

Bitcoin is certainly one option.

No one controls it, which is a novel concept in an era when governments and central banks control everything from the value of your savings to what you can/cannot put in your own body.

But if Bitcoin isn’t your flavor just yet, consider other options.

Gold and silver still have incredible merit since they cannot be conjured out of thin air by central banks.

And even holding physical cash is a much better alternative than keeping everything inside a highly centralized banking system.

Simon Black

14.03.2016 - Satori Coin: New physical bitcoin introduced in Japan:

02.5.2016 - Craig Wright revealed as Bitcoin creator Satoshi Nakamoto:
Max of Success Council...
45 Year Old Australian Entrepreneur, Craig Wright came out today, revealing himself as Satoshi Nakamoto.
Reddit has been abuzz both in doubt and awe about the truth of this revelation.
But most Bitcoiners believe Wright (no relation to me) is Nakamoto…
In a blog post, Wright stated:
"I have been staring at my screen for hours, but I cannot summon the words to express the depth of my gratitude to those that have supported the bitcoin project from its inception – too many names to list.
You have dedicated vast swathes of your time, committed your gifts, sacrificed relationships and REM sleep for years to an open source project that could have come to nothing.
And yet still you fought.
This incredible community’s passion and intellect and perseverance has taken my small contribution and nurtured it, enhanced it, breathed life into it. You have given the world a great gift. Thank you.
Be assured, just as you have worked, I have not been idle during these many years. Since those early days, after distancing myself from the public persona that was Satoshi, I have poured every measure of myself into research. I have been silent, but I have not been absent. I have been engaged with an exceptional group and look forward to sharing our remarkable work when they are ready.
Satoshi is dead.
But this is only the beginning."

And Wright offered proof to substantiate his identity at a meeting with the BBC by digitally signing messages using cryptographic keys created during the early days of BTC’s development.

These keys were linked to blocks of Bitcoin minded by Satoshi, and for many Bitcoin experts, this is enough proof to confirm Wright's identity.

Experts like Gavin Andresen, chief scientist at the Bitcoin Foundation, published a blog backing Wright’s claim:
"I believe Craig Steven Wright is the person who invented Bitcoin," he wrote.

Where that leaves the Bitcoin community only adds further excitement to the big event that is coming up this July.

We live in exciting times!


Ned Pamphilon