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On November 26, 2017, a news came out about a former SpaceX employee claiming that Elon Musk was “presumably” Satoshi Nakamoto, the creator of Bitcoin. Bitcoin was established in 2008 and claimed under the pseudonym “Satoshi Nakamoto”, the rumored holder of more than one million Bitcoins.

The secret of Satoshi has been a hotly debated issue in the digital currency world, with entrepreneurs regularly claiming and denying responsibility. Many individuals jumped at the opportunity to get a reaction out of Musk, with very little success on the first day.

In under 48 hours, the news reached Musk, who swung to Twitter to expose the claims in true Musk way:

“Not true. A friend sent me part of a BTC a few years, but I don’t know where it is.”

Image credits: cryptocoinsnews.com

The gossip started from this Medium post from Sahil Gupta, a student at Yale University and former intern at SpaceX. Gupta’s post was widely covered over media, bringing together a blend of supportive and skeptical responses. Normally, the dominant part of reactions was doubtful:

“Obviously, and on the 7th-day Musk rested.” – Phil Thompson

“Musk is a serial self-promoter. Had he come up with anything 1/1000 are groundbreaking we’d have known about it.” – Frayed_Knot

“I will debunk this right now. There is no way Elon Musk is Satoshi. He would never create a currency system that uses so much energy. One bitcoin transaction uses the amount of power an entire home uses in a full week. No way would he impact the environment like this.” – Adam W.

“Yes and no doubt one of his P.R. companies facilitated this article.” – Dave

The last comment can be easily exposed. Yes, Musk is capable of many things, but it is safe to say that he didn’t create Bitcoin.

With Musk’s latest response, the secret of Satoshi lives on and stays to be one of the best mysteries in the crypto world.

 

STORY AND IMAGE CREDITS: CRYPTOCOINSNEWS.COM

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Everything about bitcoin

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Everything about bitcoin

Bitcoin is a new cryptocurrency currency in the digital world. Transactions are made without a middle authority. Which means, no banks! No need of heavy fees for transactions. No need of central authority’s order to confirm the transaction and you are allowed to do transactions anonymously. This is the secure and legal way of transactions. Because the transaction is verified by the proper channel named blockchain. Who keeps the records of transaction and verify them through proper ways. Bitcoin is pretty much like cash for the Internet.

Who controls the Bitcoin network?

This is the network, nobody owns, Same like email technology. No one owns this technology. Bitcoin network is controlled by its users in all over the world. Developers are working on bitcoin services continuously, but they don’t have a right to interfere in transactions process. They even don’t have authority to create change in bitcoin protocol. Because users of this technology are free to use any software or version.

Who created Bitcoin?

Satoshi Nakamoto …….

A great silence. Still, the creator of this worldwide technology is unknown. 9-pages paper was released named,” bitcoin, peer-to-peer electronic cash system” in the last of 2008. From that day and today, bitcoin is number one cryptocurrency in the world. And, still, the inventor of this technology is a mystery.

Is Bitcoin worldwide technology?

There is a large number of bitcoin users in the world from different sectors. Includes the business transactions, buying and selling of good, restaurants start accepting bitcoin as a payment and much more. At the end of August 2013, bitcoin exceed with the US $ 1.5 billion with millions of dollars. US, Canada, China and most of the other countries start transactions by using bitcoin. Worldwide acceptance of this technology shows that the future of currency is bitcoin. Till 2017, more than 2-time bitcoin cross the value of the gold. This is the fact, and there is no comparison of gold and the bitcoin. Because of digital currency. The primary purpose of this comparison is, bitcoin’s value crossing the value of gold. This shocking fact has blown away everyone’s mind. As a result, bitcoin takes part in most of the international transactions.

 Acquiring bitcoin, is it simple? 

will make a sensible decision of transaction. A person is wise if he/she knows the value of a single bitcoin.  Either he/she is buyer or not.

Here, the question is, how acquire bitcoin?

How can we use it the for the transaction? and

Where do they come from?

Simple, you are interested in doing transactions via bitcoin. You will download software, make an address, choose a right and desired person for your transaction and send him/her a request. As, that person accept your request, create a business relation and exchange your needs with one another.

And, if you are going to buy or sell the goods. Do payments through US dollar or Euro, then exchange them into bitcoin.

You can also purchase bitcoin from bitcoin exchange

Purchasing of the bitcoin is not a big deal. Keep them save from scam’s eyes is an important fact. Technology anonymously uses in all sectors of the world. Once you will drop the catch…. Means you didn’t hold it again. Which, clearly means that you have to take decisions safely and wisely.

You also can earn bitcoin through mining.

What are the advantages of bitcoin?  

People don’t want to someone own them in their lives. They want to play hide and seek in real life, in daily routine. That is why they like the transactions through bitcoin.

There is complete freedom of payments. No bank holidays, no borders, no bureaucracy, no restrictions.fully control their money. Here, you can choose your desired fees for transactions.

Scams

While you are going to do transactions, be aware of scams.

Good luck!

Tags: Everything about Bitcoin, Bitcoin news.

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Bitcoin Lending – What Are The Best Peer to Peer Bitcoin Lending Sites?

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Best Peer to peer lending  and Bitcoin p2p lending platform is having a wonderful year. You may have an idea that lending club is breaking $1.9billion in a quarter. During the same time period, in new loans, Prosper issues $912.4 million. Which shows the 147% increase per year.

According to the P2P finance association, UK is with the $792 million. So, you need to take part and make a profit from the p2p lending boom.

First, you need to select a well-reputed site for Bitcoin lending. And, say happily goodbye to banks or governmental terms. Here, in this article, you’ll read about few lending sites. Wishing you’ll get some idea about lending.

Bitbond:

Bitbond offers the highest interest rates to its users while using Bitcoin payments at zero fees around the world. This table will show you the comparison fee structure of different platforms.

Besides these token fee, Bitcoin peer to peer lending offers video tool to provide the transparent system. Whereas, average interest rate of Bitbond is 25% and you have the option to invest up to $2.50.  Stu Lustman’s quarterly returns report is given below if you want to see the comparison between fiat and Bitcoin ROIs for lenders.

Lending Club:

Lending Club is the most favorite among peer to peer lending platforms. In additions, impressive ROIs is coming in at 11.30%, 13.3%, and 10%.

An average investor wants to enjoy 6-8% ROI. The lending club also offers you the investment of $25 and have the good scoring system.

Prosper:

Prosper faces return issues at the start but with peer to peer lending platform it enjoys the progress in the recent year. Prosper paid more than $140 million to its investor with average ROI between 5-9%.

Prosper assessment of borrowers increases its reputation among the people. In addition, a credit score of prosper for borrowers is remarkable 700.

Upstart:

Upstart’s characteristics are different from the lending club and prosper. That is when a loan defaults it is the investors who take the hit not the platform. Here are few shop related products of the Upstart.

In the case of loan declares as default during the loan term, Upstart will collect the earned revenue and refund the money to the investors. In addition, the Organizational fee ranges between 1% and 6% with the ROI 4-8%.

Peer Form:

Oldest site in peer to peer lending sites list is peer form. Distinct features of the platform include their standing on certified depositor. Peer form offers three-year loan terms with 7-28% interest rate. Whereas, the borrower needs minimum 600 FICO score to apply.

Bondora:

In Europe, Bondora is the most exciting peer to peer site among the people. Yield return of 9000+ makes it the center of the interest. Furthermore, Claus Lehmann with 26% ROI on Bondora is the most prominent, who has documented his returns from European lending platform. This lending site serves borrowers of the three countries with €45 million in the loan.

Zopa:

Zopa is the first and foremost peer to peer lending platform in The United Kingdom. The organization issued $408 million loans in 2014. In addition, with current returns of 0.7%-0.8% Zopa still away from ROI 9%.

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Will Bitcoin Become World’s ‘Single Currency’?

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Due to a number of reasons cryptocurrencies are becoming intensely popular form of internet money. The main reason for that can be no other than the fact that unlike conventional currency cryptocurrencies are safe, anonymous and completely decentralized. Moreover, their flow totally depends upon the market demand. Due to the Blockchain technology and the so much complicated code system, it is also impossible to counterfeit them.

bitcoin single currency

Views of Twitter CEO about the Future of Bitcoin

In an interview with The Times, Jack Dorsey, the CEO Twitter presented his views that there are chances that Bitcoin will become world’s single currency in the future. When asked for the time frame, Dorsey said that it may take further ten years. He further exclaimed that no matter how much time may take, but a day will come when the world will ultimately have a single currency, and the name of that currency will probably be Bitcoin according to him.

Role of ‘Square’ in Promoting Bitcoin

Jack Dorsey is also the CEO of world famous payment service Square, with this regard he has a keen eye for online transactions and the internet money flowing from one place to another. Jack Dorsey is personally very much interested in the rise of Bitcoin. According to one of his previous statements, his company Square will try its best to focus on options to interact with Bitcoin via their Cash App. Jack Dorsey believes that it will become a “transformation technology” for the internet technology.

Level of Jack Dorsey’s Trust in Bitcoin

Being a personal investor of Bitcoin, Dorsey believes that time will soon come when cryptocurrency especially fractions of Bitcoin would be used for buying simple things like coffee and other everyday purchase. Not only Bitcoin, Dorsey has also invested in ‘’Lightning Labs’’, which is working hard day and night to make the use of bitcoin much more faster and easier. Last week, Lightning Labs, released its first Bitcoin ready LN implementation. Due to this implementation free and frequent Bitcoin transaction has come closer to reality.

When asked about the scaling issues faced by Bitcoin right now, making it “slow and costly,” Dorsey answered that though it is a fact right now but with the passage of time new solutions will resolve that problem too. He further explained that when more and more people would have an easy access to Bitcoin, things would start to improve gradually.

The acceptance of Bitcoin by companies like Square, has probably led to future investment opportunities in it, further fueling its journey to become a single currency worldwide.

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Warning issued by Philippines SEC to Crypto Investment Platform

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Like regulators in a number of countries, the Philippines Securities and Exchange Commission (SEC) has been increasing its concern over cryptocurrency related investments. It has recently warned a cryptocurrency investment platform because it offered unregistered securities. The firm known as Onecash Trading, recruits’ cryptocurrency traders as their affiliate members and promises to reward them in local currency, whenever they recruit new members of the same scheme for Onecash Trading.

crypto investment platform

According to that SEC alert, the firm Onecash Trading has been promising potential investors returns of 200 percent interest over eight weeks. Though its registered headquarter is not known. Onecash claims its global coverage of services across 73 different countries. In a statement issued by SEC, it was said that the firm is offering unregistered securities to investors in the Philippines.

SEC thereby warned the public that such investment schemes are not secure whether they offer traditional currency use of money or cryptocurrencies such as bitcoin, ethereum, litecoin, dash, monero or any other such digital currency. It was also stated that all such transactions are considered as securities subject to the regulatory authority of the SEC.

It was further stated that any person involved with promoting, selling and recruiting investment services for Onecash, no matter if he is a salesman, dealer or agent, the person will face prosecution and serious penalties up to 5 million pesos ($270,000) or imprisonment of up to 21 years.

Suggestions for Online Traders

The SEC has also shown its concerns that many online trading platforms appear to investors as SEC-registered and regulated companies or firms while in fact they are not. In the same way, many of these firms sometimes call themselves as exchanges, giving the pseudo impression that they are being regulated by national securities exchange. To cancel any chance of further fraud in this regard the SEC has devised a pack of rules in the light of which online traders should ask the following questions before they decide to trade digital assets:

  • Is your firm registered as a national securities exchange?
  • Can any information be found in FINRA’s BrokerCheck about any individuals operating your firm?
  • How do you ensure safety of your users’ trading and personal information?
  • What kind of measures you take against cybersecurity threats?
  • What kind of other services are provided by your firm?
  • How does your firm select assets for its digital trading?
  • Who can trade on the platform?
  • What is the trading criteria for your platform?
  • How do you set prices for your platform?
  • Are all the users treated equally or not?
  • Is your firm registered with the SEC for all the above-mentioned services?

The SEC hopes that the above measures would cancel any chance of fatal fraud in the online cryptocurrency related investments.

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CEO Of Alibaba’s Affiliate “Ant Financial Services Group” Is Ruling Out ICO Fundraising

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Ant Financial Services Group was formerly known as Alipay and is an affiliate company of the Chinese Alibaba Group. Since Ant Financial Services Group is an operator of AliPay, a perilous stance has been taken by it over ICOs (Initial Coin Offerings).

CEO of Ant Financial, Eric Jing spoke during the speech, which was held on 24th March at the annual China Development Forum in Beijing and according to him, most of the existing blockchain fervour comes from speculation about the main perception of the blockchain.

Jing also advised that there are numerous projects behind the ICOs (Initial
Coin Offerings) which can offer nothing but a destitute white paper. Jing seemed to exclude the possibility of his company holding an ICO.

ICO Fundraising

Eric Jing Views

According to Eric Jing:

“The current phase is like the internet bubble period in the 1990s.” While saying that, he added:

“Ant Financial has drawn a clear line with ICOs.”

The local media source “The Paper” reported that the CEO, Eric Jing further described that, despite the fact he has his full confidence in blockchain’s ability as a trust mechanism for the upcoming digitalized society, the bubble at this time is probably going to burst within the next two or three years and only after that, the industry will be capable of seeing real blockchain applications coming into place.

Eric Jing’s Role in Alibaba Group

Alibaba Group is a famous internet entrepreneur in the country, China and Jing is a long-time veteran of this Group as he has helped a lot in growing the AliPay business, along with its operator, Ant Financial and now it seems like he’s ruling out the ICO fundraising.

Last year, the latter firm made headlines for its obstructed attempt to buy MoneyGram, which is a U.S. payment service. Even with the criticism of ICOs, Alibaba did its best to make a move into the blockchain space as it took great interest in the technological development.

As it was earlier reported, a blockchain-powered platform has been already developed by Ant Financial for charity donations. Moreover, China’s State Intellectual Property disclosed a data and according to that, around 50 patents related to the blockchain have been filed by Alibaba Group, which are currently pending for approval.

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