Mediaboss Marketing

U.Today - According to Julio Moreno, head of research at CryptoQuant, an early miner from the Satoshi era has moved 2,000 BTC. This activity involved coins mined in 2010, a time when Bitcoin's value was negligible compared to today's prices.

"Satoshi era" refers to the period when Bitcoin's pseudonymous creator, Satoshi Nakamoto, was active in the community, roughly between 2009 and 2010.

Bitcoin mined during the early years (2009-2011) is considered part of Bitcoins foundational history. Transactions involving these coins are rare and often attract considerable attention. This is often because old Bitcoin miners act as a source of liquidity and distribution.

The transfer was notable not only for its size but also because it involved coins that had been held for roughly 14 years. The motivation behind moving such a significant amount of Bitcoin after a prolonged period can vary.

Some potential reasons include: the holder might seek to capitalize on current market prices or to fund new ventures or investments. Sometimes, old addresses move small amounts to test modern transaction capabilities and security before deciding on larger moves.

It is also possible that the owner might be moving their holdings to enhance security, utilizing modern wallets with advanced security features compared to older ones.

The movement might be part of a broader market strategy, such as preparing for a large sale through over-the-counter (OTC) markets.

According to Moreno, the latter scenario might be the case. He speculates that the coins likely went to an OTC desk or custodian, given that they were forwarded to several other new addresses almost immediately.

At the time of writing, BTC was down 0.5% in the last 24 hours to $69,681. At current prices, the value of the transferred 2,000 BTC would be worth nearly $130 million.

This article was originally published on U.Today

Continue reading here:

Satoshi-Era Bitcoin Miner Awakens: 2000 BTC Moved in One Go - Investing.com

U.K. Judge James Mellors written ruling that Craig Wright isnt Satoshi Nakamoto, the pseudonymous author of the 2008 Bitcoin white paper, has (predictably) set off a celebratory deluge of dunking from the social media accounts of Wrights longtime critics.

But the reality is that the tweets and blog posts slamming Wright have never really stopped since Mellor issued his initial rulingin mid-March. And its unlikely that Mellors written ruling will mark the end of these attacks.

Because the fight against Wright was never about him. It was all about stopping further adoption of the BSV Blockchaintechnology he supports. Thats because BSV, unless sabotaged by external forces, poses an existential threat to the technologies promoted by the members of the Crypto Open Patent Alliance(COPA) that brought the suit against Wright.

Due to Wrights high profile, COPA appears to have elevated him into being BSV. Stop Wright, their thinking went, and BSV will be forced to follow him offstage. Their reasoning here was way off base, but that shouldnt be all that surprising given how badly they also misinterpreted Satoshis plan for Bitcoin.

COPAs members are in lockstep agreement that Bitcoindespite the white paper defining it as peer-to-peer electronic cashwas never intended to serve as a global currency. Instead, Bitcoin was meant to be digital gold that doesnt do anything beyond (allegedly) perpetually increase in value. Thats the mindset that led the developers at BTC Core to strip the Bitcoin protocol down to its barest bones, resulting in the BTC token they promote with such zeal.

BSV supporters, on the other hand, believe that Bitcoinin the form of BSV, the only locked protocol that remains true to Satoshis original blueprint and can trace its unbroken history back to the Genesis blockcan easily serve as a low-cost digital payment system.

Furthermore, BSVs unparalleled ability to scale allows it to handle the immense data management needs of enterprises, government agencies and Web3 applications at a cost that makes such systems not just feasible but desirable.

Which is why COPA and other similarly deluded prospectors wont stop their attacks. By proving that Bitcoin is capable of delivering actual utility, disrupting both the ad-driven model of Silicon Valleys social media giants and the U.S.-based digital payment models, BSV offers a welcome alternative and exposes the rot at the core of these movements.

Utility v. futility

BTCs reputation took some serious hits this month due to the unprecedented direct attacks by Iran against Israel followed by Israels retaliatory strikes. In both instances, BTCs value cratered as sellers sought refuge in more stable products, aka fiat cash, directly undermining the safe haven mantra so relentlessly promoted by the digital gold team.

Take Michael Saylor, founder of COPA member MicroStrategy (NASDAQ: MSTR) and owner of around 1% of all the BTC that will ever be issued. With his entire net worth caught up in BTC, its perhaps no surprise that Saylor is the biggest booster of the digital gold myth, to the point that hes been accused of threatening to retaliate against anyone who dares suggest that BTC might be good for anything else.

Matt Odell, managing partner of BTC infrastructure investment outfit Ten31, recently posted a cryptic all-caps noteon decentralized social media protocol Nostr that claimed Saylor HAS ACTIVELY KILLED DEALS TO SUPPORT DEVS. HE IS PROUD OF IT.

Odell previously claimedthat ONE OF THE BIG ETFs [exchange traded funds] WAS GOING TO DONATE TO OPEN SOURCE DEVS. SAYLOR TOLD THEM IF THEY DID IT HE WOULD CRUSH THEM SO THEY PULLED OUT OF THE COMMITMENT.

Whatever the reality behind these claims, Saylor did go on CNBCseveral weeks prior to declare that people refer to [BTC] as a digital currency, and thats an unfortunate historical artifact. Saylor likened BTC to digital property and argued that BTC doesnt have to be a currency. Nobodys trying to buy a cup of coffee with a fraction of their building on Fifth Avenue.

Saylors defense mechanisms appear sufficiently robust to allow him to deny evidence that directly contradicts those beliefs. For instance, Saylor tweeted Chaos is good following Irans recent military strike against Israel, even as BTC shed more than 10% of its value.

The reality is that BTC is a hobbled former shell of Bitcoin and thats just the way everybody in BTC seems to want it. Well, they can have it. They can and will continue to talk about Wright, for all the good it will do them. No one in BSV is thinking all that much about COPA v Wright; the focus here is where its always been: real-world utility.

By contrast, the rest of the crypto sector is stagnant. Nobody wants to do anything but make lots of money in the shortest period possible without doing anything of benefit to anyone else. Relentless hype cycles drive tokens higher and instill FOMO in the general public, followed by the inevitable crash in which the noobs get rekt and the whole process resets.

Take the current memecoin madness on Solana. Its like the whole 2017 initial coin offering (ICO) debacle never happened. Except this time the coin issuers arent even bothering with white papers detailing how their project will change the world.

As Travis Kling remarked earlier this year, I actually think there is LESS expectation this time around that any of this shit does anything or will EVER do anything People want to gamble on vaporware and next year looks like a good year to be in the casino.

Cult following

COPA and its minions like to portray BSV as the Cult of Craig. If anyone is trapped in a Cult of Craig its COPA. Theyre the ones who cant seem to escape the hypnotic control he appears to wield over them.

It would be far more accurate to describe BSV as the Cult of Satoshi. BSV supporters seem to be the only ones that believe Satoshi was right and that when he departed the stage, he left us his blueprints, which are all we need to understand what were building and where were going.

COPA and their ilk all think Satoshi was wrong, that they know better the intentions behind his creation. BSV backers know that Satoshis vision was rooted in utilitybe it for low-cost microtransactions or data processingnot establishing a new category of financial elites.

If you really want to know why the BSV community was willing to listen to Wright in the first place, ask yourself this: who else at that time was advocating for a return to Bitcoins original vision? Who else was offering a utility-focused alternative to number go up?

The tires on a Formula 1 might be a wonder of modern technology but for all their engineering wizardry, nobodys really improved on the wheels original conceptor purpose. No ones trying to reinvent the wheel because reinvention is unnecessary if you got it right the first time. That is, unless youd prefer the wheel be some proprietary technology that only you control.

Perhaps its nave to believe that the world will ultimately coalesce around a single blockchain. But well keep working towards that goal regardless, based on our belief that when the world is ready, BSV will be there. Whatever Wrights faults, he will ultimately be vindicated as his faith in the original Bitcoin technology proves correct.

By staying true to the original Bitcoin protocol, BSV is the only blockchain that can rightly be labeled Bitcoin. As such, in a post-Mellor world, people have one of two options: believe the judge is wrong and Wright is Satoshi and Satoshi created BSV, or believe the judge is right and Wright is not Satoshi and Satoshi created BSV. Either way, Satoshi invented Bitcoin and BSV is the worlds only enterprise blockchain.

Well leave you with a quote from this sites founder, Calvin Ayre:

An English court has concluded that Craig is not Satoshi. Despite this, the fact remains that Craig was a driving force behind realizing Satoshis vision through the BSV blockchain. He was the only individual that seemed interested in fulfilling Satoshis vision of a scalable blockchain that enabled low-cost peer-to-peer payments.

We accept the decision that COPAs mysterious unknown Satoshi invented BSV because its never really mattered to us who Satoshi was. All that matters is the amazing vision he/she had. The further development of that vision will ensure that the technology writes the true historyas well as the future. Long live Satoshi.

New to blockchain? Check out CoinGeeks Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.

See the original post here:

The Cult of Satoshi: Like its creator, BSV faithful are in it purely for the tech - CoinGeek

UK Justice James Mellor minced no words slamming Dr. Craig Wright, a computer scientist who has tried to prove he is Bitcoin creator Satoshi Nakamoto.

Wright has claimed for years to be Nakamoto, taking his claims to court in an effort to be legally recognized as Bitcoins creator and reap the financial rewards that would come with the recognition. Justice Mellors ruling came in the civil trial brought by Crypto Open Patent Alliance (COPA) aimed at disproving Wright is Nakamoto and crippling his ability to continue suing crypto companies.

Thus, Dr Wright presents himself as an extremely clever person, Justice Mellor wrote. However, in my judgment, he is not nearly as clever as he thinks he is. In both his written evidence and in days of oral evidence under cross-examination, I am entirely satisfied that Dr Wright lied to the Court extensively and repeatedly. Most of his lies related to the documents he had forged which purported to support his claim. All his lies and forged documents were in support of his biggest lie: his claim to be Satoshi Nakamoto.

Many of Dr Wrights lies contained a grain of truth (which is sometimes said to be the mark of an accomplished liar), but there were many which did not and were outright lies, Justice Mellor added. As soon as one lie was exposed, Dr Wright resorted to further lies and evasions. The final destination frequently turned out to be either Dr Wright blaming some other (often unidentified) person for his predicament or what can only be described as technobabble delivered by him in the witness box.

Interestingly, after hearing the mountain of evidence submitted in the trial, Justice Mellor has his own opinion on the age-old question of whether Nakamoto is a single individual or if the pseudonym was used by a group of people.

Satoshi Nakamoto was and remains a pseudonym, he wrote. Although this is not of any significant weight in my overall conclusion, my personal view, having heard all the evidence in this Trial, is that it is likely that a number of people contributed to the creation of Bitcoin, albeit that there may well have been one central individual. It would therefore be accurate to refer to Satoshi as he/she/they to reflect the possibilities, but unwieldy. I will therefore refer to Satoshi simply as he, but it is a shorthand for he/she/they.

Needless to say, Wright has already indicated he intends to appeal the ruling.

I fully intend to appeal the decision of the court on the matter of the identity issue. I would like to acknowledge and thank all my supporters for their unwavering encouragement and support. In the meantime, I shall continue to work closely with the Teranode team to achieve scaling beyond three million transactions per second. At present, Teranode is achieving one million tps and we are ensuring that the cloud-based server configurations function correctly in a way that does not impact scaling. However, even at a lower level of transaction processing, Teranode is far more efficient than the existing node structure and will lead to cost savings as well as a path to scalability.

^Posted by LB on behalf of CSW.

Dr. Craig S Wright (@Dr_CSWright) | May 20, 2024

See the original post:

UK Judge Slams Craig Wright, Says Scientist Lied 'Extensively' About Being Bitcoin Creator - WebProNews

A judge at Londons High Court ruled on Monday that a computer scientist who said he invented Bitcoin lied extensively and repeatedly and forged documents on a grand scale to support a false claim.

Australian Craig Wright had long claimed to have written the foundational text of bitcoin a 2008 white paper published under the pseudonym Satoshi Nakamoto.

But Judge James Mellor ruled in March that the evidence Wright was not Satoshi was overwhelming, after a trial in a case brought by the Crypto Open Patent Alliance (COPA) to stop Wright suing bitcoin developers.

Mellor gave reasons for his conclusions on Monday, stating in a written ruling: Dr Wright presents himself as an extremely clever person. However, in my judgment, he is not nearly as clever as he thinks he is.

The judge added: All his lies and forged documents were in support of his biggest lie: his claim to be Satoshi Nakamoto.

Judge Mellor said that Wrights actions in suing developers and his expressed views about bitcoin also pointed against him being Satoshi.

Wright, who denied forging documents when he gave evidence in February, said in a post on X: I fully intend to appeal the decision of the court on the matter of the identity issue.

COPA whose members include Twitter founder Jack Dorseys payments firm Block described Mondays ruling as a watershed moment for the open-source community.

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.

Follow this link:

Aussie Who Said he Invented Bitcoin Lied on 'Grand Scale': Judge - Asia Financial

Bitcoin has emerged as the undisputed chief inside the cryptocurrency marketplace, charming the world with its decentralized nature and revolutionary blockchain technology. Despite facing challenges, Bitcoin maintains its dominance, placing the standard for the virtual foreign money revolution. Keep learning and exploring to get better at investing! You can read more on bitcoin-profitapp.com and place your feet into education.

The Origins of Bitcoin

Bitcoin was created in 2008 with the aid of a man or woman or institution of individuals using the pseudonym Satoshi Nakamoto. It was added as a peer-to-peer digital cash machine with the intention of decentralizing economic transactions. The authentic identification of Satoshi Nakamoto stays unknown, adding to the mystique surrounding Bitcoins origins. The introduction of Bitcoin changed into a response to the shortcomings of traditional economic systems, especially the dearth of privateness, excessive transaction costs, and centralization of strength in monetary establishments.

Bitcoins underlying technology, blockchain, was a modern concept at the time of its introduction. Blockchain is a dispensed ledger that data all transactions made with Bitcoin. It guarantees that transactions are steady, obvious, and tamper-proof. This era became crucial in establishing agreement with Bitcoin transactions without the want for a government. The mixture of blockchain and the decentralized nature of Bitcoin has made it a disruptive force in the financial world.

Bitcoins Market Dominance

Bitcoins market dominance refers to its share of the total cryptocurrency market capitalization. Since its inception, Bitcoin has continuously maintained the highest marketplace proportion amongst all cryptocurrencies. This dominance can be attributed to numerous factors, such as its first-mover gain, brand popularity, and extensive adoption. Bitcoins fame as the authentic cryptocurrency has cemented its role as the chief in the market.

Bitcoins market dominance is also meditated in its price movements. As the maximum well-known and broadly used cryptocurrency, Bitcoin frequently sets the tone for the rest of the marketplace. When Bitcoins charge rises or falls, it has a tendency to persuade the charges of different cryptocurrencies. This phenomenon is known as the Bitcoin impact and highlights the giant impact that Bitcoin has on the broader cryptocurrency atmosphere.

Bitcoins Role in the Crypto Ecosystem

Bitcoin performs a vital position within the broader cryptocurrency surroundings. As the first cryptocurrency, Bitcoin paved the way for the development of lots of different cryptocurrencies and blockchain-primarily based initiatives. Bitcoin is often used as a gateway for novices to the cryptocurrency area, as its far the most famous and broadly commonplace cryptocurrency. Many people start their cryptocurrency journey through buying Bitcoin before exploring other cryptocurrencies.

Bitcoin additionally serves as a benchmark for the performance of the cryptocurrency market as an entire. Changes in Bitcoins price frequently result in similar moves inside the charges of other cryptocurrencies. This correlation is due to the interconnected nature of the cryptocurrency market, where Bitcoins dominance influences the behavior of other cryptocurrencies. Bitcoins function as a market leader highlights its significance in shaping the broader cryptocurrency ecosystem.

Challenges to Bitcoins Dominance

Despite its dominance within the cryptocurrency marketplace, Bitcoin faces numerous demanding situations that could probably threaten its function. One of the primary challenges is scalability. As the range of Bitcoin transactions increases, the community has struggled to process them effectively. This has led to higher transaction fees and slower confirmation instances, making Bitcoin much less sensible for regular transactions. Solutions which include the Lightning Network have been proposed to cope with these scalability issues, but their great adoption stays an assignment.

Another assignment to Bitcoins dominance is the emergence of competing cryptocurrencies, often known as altcoins. These cryptocurrencies provide functions and capabilities that Bitcoin does now not, such as quicker transaction speeds, greater advanced privacy functions, and programmability. Some altcoins have received considerable traction and market percentage, posing a competitive hazard to Bitcoin. Additionally, the proliferation of altcoins has led to fragmentation in the cryptocurrency marketplace, making it more challenging for Bitcoin to hold its dominance.

The Future of Bitcoins Dominance

Looking beforehand, the destiny of Bitcoins dominance in the cryptocurrency marketplace is unsure. While Bitcoin has been established to be resilient in the face of demanding situations, its function as the dominant cryptocurrency isnt always assured. Factors which include technological advancements, regulatory trends, and opposition from other cryptocurrencies will all play a role in shaping Bitcoins destiny.

One capacity improvement that would beef up Bitcoins dominance is the extensive adoption of blockchain generation. As extra industries and governments discover the usage of blockchain for numerous applications, Bitcoin may want to gain from improved legitimacy and reputation. Additionally, upgrades in scalability and usefulness should make Bitcoin greater appealing for everyday transactions, further solidifying its function as the main cryptocurrency.

Conclusion

As Bitcoin navigates the complexities of scalability, opposition, and regulation, its destiny because the kingpin of cryptocurrencies remains unsure. However, its resilience, massive adoption, and pioneering status function strongly to preserve its dominance and shape the future of digital currencies.

Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.

Originally posted here:

Bitcoin's Dominance: Challenges, Resilience, and Future Prospects - Crypto Reporter