Posted on 11/13/2021 6:14:13 PM PST by DUMBGRUNT
A seemingly run-of-the-mill trial is playing out in Florida: The family of a deceased man is suing his former business partner over control of their partnership’s assets.
In this case, the assets in question are a cache of about one million bitcoins, equivalent to around $64 billion today, belonging to bitcoin’s creator, the pseudonymous Satoshi Nakamoto. The family of the dead man says he and his business partner together were Nakamoto, and thus the family is entitled to half of the fortune.
For bitcoiners, there is only one piece of evidence that could conclusively prove the identity of Satoshi Nakamoto: the private key that controls the account where Nakamoto stored the one million bitcoins. Anyone claiming to be Satoshi Nakamoto could show that he or she has them by moving even a fraction of a coin out of it.
The mystery of Satoshi Nakamoto is one of the curiosities of bitcoin. On Oct. 31, 2008, somebody using that name sent a nine-page paper to a group of cryptographers explaining a system of “electronic cash” that allowed people to exchange value without the need for a bank or other party. A few months later, the bitcoin network went live, and Nakamoto collected one million bitcoins in its first year.
In bitcoin’s early days, nobody cared much about Nakamoto’s identity. Bitcoin had no tangible value and only a small group of backers.
In December 2010, Nakamoto, who was known to use two email addresses and have one registered website, stopped posting publicly; essentially, Nakamoto disappeared.
(Excerpt) Read more at wsj.com ...
The blockchain concept is open source and will make millions of dollars for non-coin uses.
Full TXT:
https://archive.vn/z3rI0
The idea that the creator of block-chain crypto money, now an asset class worth $Trillions, is a secret and remains shrouded in mystery is quite fascinating, and also very disconcerting as both a civil libertarian and as an Investor.
Who is he? Who did he work for? Is this all an experiment?
My best guess is that it’s TPTB suddenly having an epiphany.
We’ll just use the computing resources of everyone on the planet as we screw them over.
After the advent of smart phones and their acceptance, regardless of privacy issues, it only made sense.
—”Who is he? Who did he work for? Is this all an experiment?”
IMO, no living person would leave the money untouched.
For me, it has been a fun mystery to follow.
The Nakamoto that ask the reporter to buy lunch for an interview was fun.
https://www.theguardian.com/technology/2014/mar/07/satoshi-nakamoto-denies-inventing-bitcoin
Satoshi Nakamoto
https://en.wikipedia.org/wiki/Satoshi_Nakamoto
i know a couple of people with a few thousand coins each which they’ve secured in numerous safety deposit boxes and vaults.
they’re holding until the marketcap for btc exceeds $5-10t
That's one hell of a story.
heck, he could be dead, and have been dead for a decade.
very weird.
heck, he could be dead, and have been dead for a decade.
very weird.
—”he could be dead, and have been dead for a decade.”
Sooner or later most would need a new car or roof or...
read more about it, and of course it is even weirder than this article suggests.
one assumes there was a smaller cache of coins the founder would live off of. (is that possible?)
“...a few thousand coins each which they’ve secured in numerous safety deposit boxes and vaults.”
Uh, wut?!
what wut ?
“...numerous safety deposit boxes and vaults”
don’t put all your eggs in one basket?
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