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The self-proclaimed creator of Bitcoin Craig Wright went to war against the community

Australian scientist and entrepreneur Craig Wright, who persistently continues to argue that he is the creator of Bitcoin Satoshi Nakamoto, confirmed his intention to sue Twitter user Hodlonaut with a claim for protection of honor and dignity, and also offered a reward of 5000 Bitcoin SV (about $ 355,000) for information that will help in his identification. Further […]

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Australian scientist and entrepreneur Craig Wright, who persistently continues to argue that he is the creator of Bitcoin Satoshi Nakamoto, confirmed his intention to sue Twitter user Hodlonaut with a claim for protection of honor and dignity, and also offered a reward of 5000 Bitcoin SV (about $ 355,000) for information that will help in his identification. Further developments turned out to be quite unexpected and continues to be one of the hottest topics for debate.

Recall that it was Hodlonaut that a while ago launched the global Lightning Torch campaign on Twitter, in which users send bitcoin payments to each other through the Lightning Network, each time increasing the transaction size by 10,000 Satoshi. This kind of relay is designed to show the potential of technology to the general public, and many of its participants call themselves Bitcoin-maximalists.

It is clear that Hodlonaut also belongs to this circle, who in his tweets repeatedly called Craig Wright a “fraudster”. In such rhetoric, however, he is not alone (the hashtag #CraigWrightIsAFraud , and the nickname Faketoshi have been accompanying Craig Wright for a long time), however, it seems that he was the loudest in his claims to the Australian. At least, it was Hodlonaut that once launched the mentioned hashtag, he also often called Wright a “pathetic scammer”

On Thursday, April 11, the CoinGeek publication wrote that at the end of March, Wright’s lawyers had prepared a lawsuit against the user Hodlonaut, which stated that the entrepreneur did not intend to tolerate a “targeted campaign” of humiliation and “extremely offensive and offensive to his dignity” tweets .

The documents also say that Craig Wright is really Satoshi Nakamoto, the author of white paper Bitcoin, the sender of the first transaction to Hal Finney in January 2009, and ultimately the person who played the key role in the development of cryptocurrency.

The publication itself, meanwhile, gave an "orientation" to Hodlonaut – by publishing its supposed photos (without a face), on which extensive tattoos are visible, the author of the material Bill Beatty wrote that Hodlonaut intends to attend the Baltic Honeybadger conference in Riga in September of this year and suggested looking for him among people "with a deflated sleeves." It is also said that Hodlonaut allegedly resides in Norway.

The events, however, took an unexpected turn when one of Wright’s supporters ( @NicoThomas_ on Twitter), conducting his own investigation, found the person who wrote on behalf of Hodlonaut and posted his personal data, including his home address (later his @NicoThomas_ removed "under lock and key").

Soon after, Hodlonaut deactivated your Twitter account.

The bitcoin community instantly reacted to this development of events, not only expressing outrage at the fact that the user's personal data were disclosed, but also starting to change their user names to “Hodlonaut”, and avatars to the image of a cat in a spacesuit.

The screen that the President of the International Blockchain Real Estate Association, Ragnar Liftrasir, fully explains, is how massive the turnaround this unique flash mob takes: the list of users offered for reading consists entirely of Hodlonaut nicknames.

Well-known bitcoin developer Jameson Lopp, meanwhile, quoted the author of Black Swan, Nassim Taleb:

“Pay attention not only to those who commit fraud, but also to those who stand by and silently watch. If you see fraud and do not say that it is a fraud, but you yourself are a fraud. ”

The Bitcoin Magazine edition (temporarily become Hodlonaut Magazine), meanwhile, announced that it received from the law firm SCA ONTIER LLP., Which represents the interests of Craig Wright, copies of those statements of claim.

They, in particular, require Hodlonaut to publicly reject his claims that Wright is a fraud, and to apologize to him. The publication also notes that in these documents, which it received through Twitter, contains the full name of Hodlonaut, his home address and email.

Even more incredibly, the prepared text of an apology, included in the documents, which, as Wright’s lawyers insist, Hodlonaut should bring, looks:

“I was mistaken when I said that Craig Wright was fraudulently stating that he was Satoshi. I admit that he is Satoshi. I apologize, Dr. Wright. This will not happen again. ”

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It’s no secret that there are always disagreements within the Bitcoin community. These differences reached a new level with the advent of Bitcoin Cash in the summer of 2017, and then the Bitcoin SV project which had separated from it. However, no matter how hot the debates were, they still have not crossed the line when the physical persecution of people begins. Recent events say that we are entering a new and unexplored territory.

BlockchainJournal continues to monitor developments. Follow us on Twitter !

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Bithumb Cryptocurrency Exchange intends to enter the markets of the USA and Japan

Bithumb, one of the largest Bitcoin exchanges in South Korea, in the foreseeable future, may begin to offer services to residents of the United States and Japan. About this in an interview with Cointelegraph said BC Kim, CEO of the Blockchain Exchange Alliance (BXA), which owns the controlling package in Bithumb. According to him, the BXA strategy consists in the so-called reverse merger, involving the purchase of a company whose shares are already […]

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Bithumb, one of the largest Bitcoin exchanges in South Korea, in the foreseeable future, may begin to offer services to residents of the United States and Japan. About this in an interview with Cointelegraph said BC Kim, CEO of the Blockchain Exchange Alliance (BXA), which owns the controlling package in Bithumb.

According to him, the BXA strategy is the so-called reverse merger, involving the purchase of a company whose shares are already being traded on one of the major exchanges. Among those, Kim names the Nasdaq and the New York Stock Exchange (NYSE).

Such a path may be faster than a traditional IPO, and will also help to significantly reduce the cost of listing on the stock exchange, which can reach $ 6 million.

As Kim says, BXA has already applied for legal support in the United States, and a lawyer from an unnamed firm said that the current regulatory environment allows the company to implement the stated plan.

BXA is also looking for partners in Japan, where it wants to create a joint venture to launch a officially licensed cryptocurrency exchange.

In addition, BC Kim said that he could potentially increase the share of BXA in Bithumb by buying up to 70% of the shares of BTC Holdings, the current operator Bithumb.

Additionally, he touched on the issue of the BXA's own token, which is already traded on the BitMax exchange, noting that its potential listing on Bithumb requires additional legal assessment.

Earlier this week, the Blockchain Exchange Alliance received funding in the amount of $ 200 million from the Japanese blockchain fund ST in the framework of the investment round of series A. As stated, investments will be directed to expanding the geography of Bithumb services, as well as adding new trading pairs to the site.

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The US government plans to increase spending on the blockchain technology 10 times.

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Blockchain will become the main technology for the work of American civil and military government agencies.

The US federal government intends to increase spending on the blockchain 10 times – such data is contained in the report IDC Government Insights. According to the authors of the study, the amount of spending on this direction will increase to $ 123.5 million by the end of 2021, while in 2017 only funds worth $ 10.7 million were allocated.

It is also expected that spending on the implementation of distributed registry technology will also grow at the state and municipal level: in total, they will invest $ 48.2 million in this area over the same period, which is also about 10 times more than in 2017, when these goals were spent 4.4 million dollars.

If we talk about the structure of spending, then at least four times the costs of federal civilian authorities will increase, from less than 20 million to more than 80 million dollars over a specified period. The US Department of Defense will spend up to $ 40 million instead of $ 20 million, as in 2017.

As the head of the IDC research unit, Sean McCarthy, notes:

“We are confident that blockchain solutions will dominate in such issues of government functioning as state property management, identification of citizens at the border, as well as government procurement, when in the latter case everything goes from paper workflow to smart contracts .”

In the near future, much attention will be paid to investment in blockchains to improve logistics, including the deployment of new US military units in the EU countries. In addition, the distributed registry technology will continue its intensive distribution in financial transactions.

Publication date 20/04/2019
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Adamant Capital: Bitcoin has passed the bottom, the accumulation stage has started

According to analysts from the Adamant Capital cryptocurrency fund, the price of Bitcoin has really gone through the bottom, and the accumulation stage is now taking place – the first stage of the future bull market, when shrewd investors start preparing for the next rally. Moreover, say the authors of the report Tuur Demeester and Michael Leskrauvet, the general investor sentiment has changed from despair to hope. In support of this statement […]

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According to analysts from the Adamant Capital cryptocurrency fund, the price of Bitcoin has really gone through the bottom, and the accumulation stage is now taking place – the first stage of the future bull market, when shrewd investors start preparing for the next rally.

Moreover, say the authors of the report Tuur Demeester and Michael Leskrauvet, the general investor sentiment has changed from despair to hope. In support of this statement, the researchers give a chart of the ups and downs of the Bitcoin price in combination with unrealized profits and unrealized losses. This criterion is based on the cost of each bitcoin, when it last moved (presumably, at the moments of buying / selling), accumulating into the “realized capitalization”. This indicator was then subtracted from the actual market capitalization of the cryptocurrency, as a result of which unrealized gains / losses were calculated.

Researchers are also convinced that at the moment Bitcoin is undervalued. The so-called “weak hands”, they said, left the market in November 2018, and this surrender laid the foundation for the next market cycle.

From this point on, “unrealized losses doubled in a matter of weeks”, prompting expectations of a rapid market recovery, the report says. However, when in just one month the market lost 48%, these hopes quickly gave way to despair.

This is also confirmed by Google Trends data, according to which search queries for the phrase “buy bitcoin” fell below the similar indicators of March 2017. Negative moods also prevailed in social media – if initially many investors were convinced that Bitcoin would not fall below $ 6,000, the further development of the event in the markets only intensified general pessimism, often even turning into aggression. So, representatives of Adamant Capital say that they received many letters at this time with threats and insults.

November surrender

The report also describes in detail how the November capitulation changed the landscape of long-term and short-term holders of cryptocurrency.

So, in early 2018, many investors held onto their assets because of the so-called disposition effect — the tendency to hold an asset that has lost value, in the hope of selling it at a higher price. The November fall in prices, however, was a shock for many of them. For example, in the period from November 14 to 16, 2018, more old Bitcoins were sold than on February 23 of the same year, when the first cryptocurrency per day fell in price by almost $ 900.

This conclusion is similar to the analysis of unspent transactions Delphi Digital, published in January 2019, which also stated that Bitcoin is in the accumulation phase and that the bottom will be covered in the first quarter of 2019.

Be that as it may, Adamant researchers believe that the situation “improved markedly by the beginning of 2019,” and more and more investors began to hold their positions again. For example, on April 1, the number of long positions on Bitcoin futures from CME Group significantly increased.

The authors of the report also draw parallels with the previous market cycles, which, according to them, reinforce the thesis that we have again returned to the situation when we can speak about the undervalued bitcoin.

Another argument from researchers is market volatility. At the time of the publication of the report, the 60-day level of Bitcoin volatility was at a level below 5%, which has not been the case since 2016. According to Adamant, this reinforces the hypothesis that retail investors for the most part have left the market, and now long-term investors dominate there.

When is the moon?

The researchers emphasize that their findings do not mean that Bitcoin can not fall again to the values of November last year or even lower. Nevertheless, they expect that until the end of the accumulation stage and the start of a new rally, the cryptocurrency will trade in the corridor between $ 3,000 and $ 6,500.

Among the factors that can lead to lower prices are, for example, the possibility of a new major hacking of a large stock exchange, as was the case with Mt. Gox. Macroeconomic factors can also play a role, although in the long term, according to the report's authors, Bitcoin will be a safe haven for investors. Other risks include withdrawing from the market of miners (although this will be offset by increasing complexity ), regulatory threats, the ongoing civilian rehabilitation process of Mt. Gox , as well as new controversial hard forks.

When it is time to wait for a new bull market, the researchers do not say, but point to certain indicators that can help determine the accumulation phase: higher price minima caused by the fact that weak hands start selling during new rallies, as well as strong hands that do not buy Only these coins, but also buying Bitcoins during the price reduction, thus preventing them from falling even lower.

In addition, researchers draw attention to technical innovations that underpin their findings about the undervaluing of Bitcoin. These include the Lightning Network with its 45 percent monthly growth, as well as sidechains as an increasingly relevant and effective scaling solution. There is also a growing interest in cryptocurrency on the part of institutional investors.

Finally, the generation of millennials is likely to become another driver for the future rise in the price of Bitcoin. Having managed to catch the economic crisis of 2008, they are less likely to trust banks and governments, choosing alternatives such as Bitcoin.

“Basing our conclusions on the 10-year development of infrastructure, we believe that everything is ready for the truly five-year acceptance of [Bitcoin] to happen over the next five years. According to our estimates, during this period Bitcoin will become a more widely recognized tool for hedging investment portfolios, will increasingly be viewed as a reserve asset, and will also significantly enhance its status as a payment network, ”conclude the report.

Earlier this month, his report, indicating that a deep correction in prices of Bitcoin and the vast majority of the remaining altcoins may be behind and the so-called “bottom” has indeed been passed, prepared by the research division of Binance.

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Name Price24H (%)
Bitcoin (BTC)
$5,320.00
0.56%
Ethereum (ETH)
$173.28
-0.64%
XRP (XRP)
$0.328264
-1.01%
Bitcoin Cash (BCH)
$301.06
-2.14%
EOS (EOS)
$5.44
-0.60%
Stellar (XLM)
$0.115374
-0.51%
Litecoin (LTC)
$81.23
-1.34%
Cardano (ADA)
$0.076758
-2.70%
Tether (USDT)
$1.00
-0.17%
Monero (XMR)
$70.42
1.21%
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