xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
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Who wants to become Satoshi Nakamoto? It seems Craig Wright is so obsessed with taking credit for the Bitcoin invention. Does real Satoshi matter in the crypto industry anymore?
Here is a 1 min summary of the article if you want to skip the reading.
Craig Wright
An Australian computer scientist and businessman had self-claimed to be the man who created Bitcoin in 2016. Since then, he could not prove he had control of Satoshi’s wallet. The crypto community constantly criticized him for fraudulence to become Satoshi.
Who Is Satoshi
Satoshi is the Bitcoin creator. Speculatively, he or groups of people created Bitcoin in 2009. Today’s evidence suggests that Satoshi is a group of people, including Craig Wright, Dave Kleiman, and Hal Finney. Unfortunately, Dave Kleiman and Hal Finney have passed away, leaving Craig Wright to claim all credits.
Hal Finney was a well-known Bitcoin coder who was actively involved in the early stage of Bitcoin coding development and revealed his identity in the early stage of Bitcoin development until he passed away in 2014.
Dave Kleiman is instead a hidden figure who may create Bitcoin by himself with the theory provided by Craig Wright and who may solely control Satoshi’s private key. Unfortunately, he also passed away in 2013.
Hoax
The debate of who Satoshi is was rather long until the lawsuit began in 2018 from the estate of Dave Kleiman. He accused Craig of defrauding his business partners and infringing on intellectual property rights. Unfortunately, Craig is so obsessed with Satoshi and forgets about what Bitcoin can bring to society. As his obsession with Satoshi’s identity deepens, it is less likely that society will accept him as a Satoshi.
Result of the Lawsuit
The lawsuit from the estate of Dave Kleiman instead accused Craig of stealing his business partner’s idea rather than proving Craig as Satoshi. However, Craig made the case to himself to prove to become Satoshi. The result is that the jury slashed him with a $100M payment of damage to Dave Kleiman’s estate. Craig may not even have Satoshi’s 1M Bitcoin, yet he has to come up with a $100M debt to pay off.
Does Satoshi Matter Anymore
The identity of Satoshi is not that important as the technology is open source and everyone can anticipate with. Furthermore, just like Hal Finney, Dave Kleiman, and many other coders who contributed to the projects, it is a community-driven creation rather than solely relying on a single person’s effort to make such a project benefit the entire human race.
In Conclusion
I think the hunting of who Satoshi will continue sparking speculation just like Bitcoin’s valuation. However, I also think that Satoshi does not matter as long as crypto continues evolving to challenge the traditional financial system and bring inclusiveness to every human being.
Who wants to become Satoshi Nakamoto? It seems Craig Wright is so obsessed with taking credit for the Bitcoin invention. Does real Satoshi matter in the crypto industry anymore?
Here is a 1 min summary of the article if you want to skip the reading.
Craig Wright
An Australian computer scientist and businessman had self-claimed to be the man who created Bitcoin in 2016. Since then, he could not prove he had control of Satoshi’s wallet. The crypto community constantly criticized him for fraudulence to become Satoshi.
Who Is Satoshi
Satoshi is the Bitcoin creator. Speculatively, he or groups of people created Bitcoin in 2009. Today’s evidence suggests that Satoshi is a group of people, including Craig Wright, Dave Kleiman, and Hal Finney. Unfortunately, Dave Kleiman and Hal Finney have passed away, leaving Craig Wright to claim all credits.
Hal Finney was a well-known Bitcoin coder who was actively involved in the early stage of Bitcoin coding development and revealed his identity in the early stage of Bitcoin development until he passed away in 2014.
Dave Kleiman is instead a hidden figure who may create Bitcoin by himself with the theory provided by Craig Wright and who may solely control Satoshi’s private key. Unfortunately, he also passed away in 2013.
Hoax
The debate of who Satoshi is was rather long until the lawsuit began in 2018 from the estate of Dave Kleiman. He accused Craig of defrauding his business partners and infringing on intellectual property rights. Unfortunately, Craig is so obsessed with Satoshi and forgets about what Bitcoin can bring to society. As his obsession with Satoshi’s identity deepens, it is less likely that society will accept him as a Satoshi.
Result of the Lawsuit
The lawsuit from the estate of Dave Kleiman instead accused Craig of stealing his business partner’s idea rather than proving Craig as Satoshi. However, Craig made the case to himself to prove to become Satoshi. The result is that the jury slashed him with a $100M payment of damage to Dave Kleiman’s estate. Craig may not even have Satoshi’s 1M Bitcoin, yet he has to come up with a $100M debt to pay off.
Does Satoshi Matter Anymore
The identity of Satoshi is not that important as the technology is open source and everyone can anticipate with. Furthermore, just like Hal Finney, Dave Kleiman, and many other coders who contributed to the projects, it is a community-driven creation rather than solely relying on a single person’s effort to make such a project benefit the entire human race.
In Conclusion
I think the hunting of who Satoshi will continue sparking speculation just like Bitcoin’s valuation. However, I also think that Satoshi does not matter as long as crypto continues evolving to challenge the traditional financial system and bring inclusiveness to every human being.
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