Capital Raise, Another Satoshi & This Week in Numbers.
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In other news...
Infamous Satoshi Nakamoto revealed?
In this explosive exposé, published by Gizmodo, compelling evidence is presented that uncovers the identity of Satoshi Nakamoto - the mysterious creator of Bitcoin.
Online communities are abuzz with commentary from netizens analysing the assortment of emails, documents, and extraordinary details presented.
However, if the evidence is verified beyond doubt - perhaps by Dr Craig Wright corroborating the claim - then the most significant development resulting from this news may be under-reported:
Meaning:
- There are 1.1 Million Bitcoin's frozen until Jan 1st 2020.
- That's over 7% of the current money supply.
- The current value of this supply is $467.5 Million USD.
- Factor this massive variable in your bitcoin risk models.
- Of-course no risk model is built without quality historic data.
Total Bitcoins in circulation
- Chart from Smartbit.com.au
Continued involvement
Dr Wright has clearly been working on the project indirectly, since 'Satoshi' disappeared a few years back.
His recent announcement shows a vastly larger Blocksize, which successfully processed 568,000 transactions per second.
To put that in perspective: Visa does around 2,000 per second, and has a peak capacity of 56k per second.
Here is a 10 min video of Dr Wright explaining his company, CloudCroft, and their work with Super-Computers and bitcoin network modelling. CloudCroft is owned by DeMorgan Ltd, and Dr Wright is the parent company’s CEO. DeMorgan Ltd also operates several other bitcoin related businesses.
No Finance Thriller is complete without a government conspiracy
- From TheGuardian.com
Just when things couldn't get crazier, the Australian Government raided Mr Wright's home, shortly after the article was published.
A spokespersons from the ATO claimed that the raid was nothing to do with Mr Wright's involvement with Bitcoin...You can't make this stuff up.
Not everybody is convinced
Jeff Garzik has been portrayed as a potential Satoshi on more than one occasion. The Former Bitcoin Core Dev has been explaining his thoughts on twitter.
No matter how this situation evolves, the articles authors summarized the events eloquently
"Despite a massive trove of evidence, we still can’t say with absolute certainty that the mystery is solved. But two possibilities outweigh all others: Either Wright invented bitcoin, or he’s a brilliant hoaxer who very badly wants us to believe he did." - Andy Greenberg and Gwern Branwen, Wired magazine
Check out this week's Bitcoin Markets Report for all the analysis and action.
Price Movement
- Bitcoin Liquid Index, 90 day view (past 7 days highlighted)
Bitcoin is sitting at 425 USD per coin, at the time of writing, up over $20 since the news of the Dr Wright investigation broke.
Further information, technical analysis, and news from the Bitcoin Scaling Conference in Hong Kong - which wrapped up yesterday - can be found in our latest report.
Blockchain 2.0 Ecosystem
- Infographic by Bart Suichies of AmazingMinds.nl
Have a marvelous week!
@Bravenewcoin