BrewDog Vouches For Bitcoin, While FED Raises Concerns; What’s Next For The Bitcoin?

While, few private houses such as Cboe Global Market, Chicago Mercantile Exchange, etc., are offering the services to promote the digital assets, the …
BrewDog Vouches For Bitcoin, While FED Raises Concerns; What’s Next For The Bitcoin?

Bitcoin prices are again in the doldrums amid profit booking activities and event impact. The Bitcoin prices which reached the level of US$13,764 (Day’s high on 26th June 2019) previously, fell to the recent bottom level of US$10,961.0 on 2nd July 2019.

Post a decline of over 25 per cent in just a few trading sessions; the Bitcoin market again jolted the market participants over the high volatility in the digital assets market. To prevent against such high volatility, many new cryptocurrencies are knocking the market’s entrance. Cryptocurrencies such as Facebook’s Libra and Minasul’s coffecoin are all over the media.

However, currently, the digital market is witnessing ambivalent response from the private and government sector. While, few private houses such as Cboe Global Market, Chicago Mercantile Exchange, etc., are offering the services to promote the digital assets, the central banks and various global leaders are getting apprehensive over the development in the digital asset market.

The bitcoin market is not just witnessing a surge in the number of service providers; it is also noticing an increase in the acceptance as a mean of financial transaction among the private companies.

BrewDog and the Bitcoin:

BrewDog the United Kingdom-based multinational brewery recently decided to raise crowdfunding; however, this time the company decided to accept the Bitcoin. BrewDog launched its new beer- Cryponite: Intergalactic Liquid Currency.

Sponsored ad by Kalkine

In a Tweet, BrewDog mentioned that this would be alternative finance for alternative business.

Contrarian to the private sector acceptance, the United States Federal Reserve is concerned over the newly proposed cryptocurrency- Libra.

FED VS Facebook:

In a meeting at the House of Financial Services Committee in Washington, the FED chair Jerome Powell mentioned that proposed currency from Facebook could raise concerns related to privacy, money laundering, and financial stability.

On further taking down on the Bitcoin, the FED chair also mentioned that the Bitcoin is a speculative store of value and no one is using it for payments instead the market is using it more as an alternative to gold.

In his further statement to media, the FED chair mentioned that the committee is working on the Libra proposal.

Libra is gaining sharp criticism from the government, despite the fact that Libra is backed by Real Assets.

In a recent tweet, the United States president Donald Trump mentioned that he is not a big fan of the cryptocurrency, and there would be only one true currency in the United States, and that would be the United States Dollars.

The United States president further added to the criticism by mentioning that the cryptocurrencies value carries high volatility. The president also took a troll over Facebook’s Libra and said that Libra would have little standing and dependability.

Mr Trump tweeted further and said if the companies such as Facebook want to become a bank, they should follow the same banking regulations and must seek a new Banking Charter.

Recently, Bitcoin prices have taken a hit in the international market, and the prices of the digital asset recently reached a low of US$11,006.0 on Bitfinex (Day’s low on 11th July 2019).

However, the dollar plunge is currently providing mild support to the prices, and in today’s session, Bitcoin reached a high of US$11,510.0 (as on 12th July 2019 4:44 PM AEST).

Dollar Vs Bitcoin:

(Daily Chart BTC and DXY Source: Thomson Reuters)

On following the daily chart of Bitcoin and the Dollar Index, we can estimate that the Bitcoin prices take dollar movement into consideration, and both the assets establish a negative correlation. The upside in dollar prices exerts pressure on Bitcoin. The recent plunge in dollar supported the Bitcoin prices, and the prices reached a recent high of US$13,764.0. The low in the dollar is followed by a high in the Bitcoin prices.

Likewise, the current-dollar plunge is supporting the Bitcoin prices. The inverse correlation in the Bitcoin and the Dollar Index is marked by the pink circle (two small circles) in the chart shown above.

What’s Next for the Bitcoin?

(Daily Chart BTC Source: Thomson Reuters)

On a daily chart, the Bitcoin prices rose to mark a high of US$13,764.0 with high volumes. Post witnessing the top, the Bitcoin fell to the level of US$9,745.1 on 2nd July 2019, and then the prices inched up again.

However, the second up-rally ended at US$13,173.0 (Day’s high on 10th July), which was lower than the previous high level of US$13,764.0 (over 4 per cent lower), with lower volumes, which in turn, suggests that the bull strength is getting weak.

The price pattern could be forming a potential Double-Top (bearish pattern) on a daily chart. The neckline of this potential Double-Top is at the level of approx. US$9,546.17.

On following the simple moving averages (SMAs), we can notice that the prices are trading above the trio of 200,100, and 50-days SMAs. The 50-days SMA is at US$9708.36, which is near the neckline of the potential Double Top and could act as the support for the prices if the prices take a nose-dive further.

Investors should keep a close eye around the range of US$9730—US$9790 as this could be the short-term support for the prices. A break below the provided range or failure to do so would decide further prices actions in it.

On the technical counter, the 14-days Relative Strength Index, which is a leading indicator, is showing a bearish signal. The RSI is reverting from the over-bought levels, which, in turn, suggests that the Bitcoin prices are capable of taking a short-term price correction.

The trend across the volume is declining, which further favours the RSI indication of short-term price correction.

(Daily Chart BTC Source: Thomson Reuters)

On further following the daily chart and connecting the Fibonacci projections from the points marked as 0,1,2 on the chart shown above. The prices are currently at the 50.0 per cent level of the projected series, which is at US$11,051.45, investors should keep a close eye around the level as a break below it could take the prices toward its short-term support range of US$9,730—US$9,790.

The results of the series are as;

The 23.6 per cent of the projected level is at US$12,176.68, 38.2 per cent of the projected level is at US$11,554.39,50.0 per cent of the projected level is at US$11,051.45,61.8 per cent of the projected level is at US$10,548.51, and 100.0 per cent of the projected level is at US$8,920.35.

The plunge is Bitcoin prices and the sharp criticism the currency is pulling the ASX-listed blockchain software provider- DigitalX Limited down.

DigitalX Limited (ASX: DCC)

DCC is an Australian Securities Exchange listed software provider for Bitcoin trading and mining. The company engages with retail clients to provide Bitcoin mining and trading software. The operations of the company are divided into two segments of Software Development and Trading. The product portfolio of the company includes AirPocket- a short message service based international mobile bill payments platform, and the product portfolio of the company also cater the institutional investors through its DigitalX Direct- a business-to-business platform, which provides institutional investors liquidity.

Share Price Actions:

The share prices of the company are moving in a downtrend from the level of A$0.440 (Day’s high on 10th January 2019) to the present level of A$0.042. The stock ended the day’s session today on ASX at A$0.042, down by 2.326 per cent as compared to its previous close.

Return Profile:

The stock delivered a yearly return of -49.41 per cent, and the YTD returns of DCC stand at -17.31 per cent (as per the yesterday’s closing).


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6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’sThose phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

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Is Craig Wright Really Satoshi Nakamoto?

The case could potentially help shed light on whether he really is Satoshi Nakamoto, something that many in the cryptocurrency community doubt.

$BTCUSD

The Australian scientist who claims he created Bitcoin (BTC), said at a federal court hearing in West Palm Beach, Florida, that he cannot comply with an order to produce a list of all his early Bitcoin addresses, and may not even be ever able to access the coins.

Craig Wright is defending himself against charges that he stole Bitcoins and intellectual property worth billions from a late business partner. The case could potentially help shed light on whether he really is Satoshi Nakamoto, something that many in the cryptocurrency community doubt.

Mr. Wright told the judge that he is Mr. Nakamoto, the pseudonym used by the digital token’s creator in Y 2009, and that Dave Kleiman, whose estate is suing him, was tasked with covering up Mr. Wright’s tracks, so people would not find out he was/is Satoshi.

Mr. Wright said he decided to stop working on Bitcoin in Y 2010, the result of concern that the token was increasingly being used to trade drugs and child pornography.

“I brought in Dave because he was a friend and he knew who I was and he was a forensic expert, and I wanted to wipe everything I had to do with Bitcoin from the public record,” he said.

Billions are potentially riding on the outcome.

The creator likely owns about $10-B Bitcoin based on current prices, casting great sway over the market. Bitcoin SV, an offshoot that Mr. Wright supports, is valued at about $3.9-B, according to CoinMarketCap.com.

Mr. Wright said he handed off a Key piece of information to Mr. Kleiman before he died in Y 2013, making it hard to track down the digital wallets holding the Bitcoins. He said it is possible he may never be able to access the coins.

“My wife and I consider it is too much money,” Mr. Wright said. “I have got enough now… and we worry what that amount of money would do to the kids.”

The case got started early last year, when Mr. Kleiman’s estate filed a complaint alleging that Mr. Wright stole “hundreds of thousands” of Bitcoins and intellectual property from when they worked together.

Messrs Kleiman and Wright used to be business partners, according to the estate’s lawsuit. After Kleiman’s death in April 2013, Mr. Wright allegedly forged a series of contracts to transfer assets and companies to himself, the lawsuit said. Mr. Wright has denied all allegations.

A federal judge ordered Wright to submit documentation of his early Bitcoin holdings. Mr. Wright had previously said in filings that that would be difficult, as his holdings are in a blind trust, guarded by multiple trustees.

Mr. Wright attended mediation in Florida in mid-June, but “case did not settle,” according to a court document.

In late Y 2015, Wired magazine and Gizmodo reported that Messrs Wright and Kleiman may have invented Bitcoin. A few days later, Wired said Wright may instead be “a brilliant hoaxer.” Police raided Mr. Wright’s home in Australia as part of a tax investigation; he moved to the UK.

Bitcoin holdings attributed to Mr. Nakamoto have not moved in years, according to online ledgers. Critics have urged Mr. Wright to verify his identity by transferring some coins, a proposal he has refused.

Currently, Bitcoin is trading at: 12,045.25-309.48 (-2.50%)As of 11:31p BST, the Market is open.

Have a terrific weekend.

Bitcoin, BTC, BTCUSD, coins, court, Craig Wright, money, Satoshi Nakamoto, tokens, wired

Is Craig Wright Really Satoshi Nakamoto? added by Paul Ebeling on June 29, 2019
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Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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Satoshi Nakamoto Whereabouts: Allegedly Residing In Japan, United States And Now Possibly …

Having been formulated by the as yet mysterious and enigmatic Satoshi Nakamoto. It was only in 2018, that Justin Sabaje, a highly active Los Angeles …
Satoshi Nakamoto Whereabouts: Allegedly Residing in Japan, United States and now Possibly Estonia?Satoshi Nakamoto Whereabouts: Allegedly Residing in Japan, United States and now Possibly Estonia?

Satoshi Nakamoto – Allegedly Residing In Japan, United States And now Possibly Estonia, According to Research?

Estonia has cultivated a reputation as being a nation with a more positive approach towards innovative and disruptive technologies such as Blockchain. But with that in mind, there is something quite interesting about when exactly the small Baltic country first got involved with the technology – 2008.

For those savvier of what goes on in the crypto and blockchain world, you’ll know exactly what was first conjured up during this year – Bitcoin and the veritable birth of it and blockchain.

An Oddysey That Is Still Developing

Bitcoin, as some will already know, is not the first time the notion of virtual currency was proposed, but it was the first time that it came into being. The idea itself, having been around since the 1990s, being one of the concepts conjured up by the crytpo-anarchic minded academics and students, it has since become a broadly accepted concept – with blockchain technology as we know it now.

Having been formulated by the as yet mysterious and enigmatic Satoshi Nakamoto. It was only in 2018, that Justin Sabaje, a highly active Los Angeles lawyer, took it upon himself in order to dig into and finally [hopefully] uncover just who exactly this mysterious creator is. Just where his personal investigation brought him to was pretty unusual, at least compared to other theories out there – it brought him across oceans to Estonia.

Interestingly, while digging more into how exactly Estonia makes use of blockchain technology, there were a range of documents which detailed and listed the kind of blockchain it uses, just how it was built, and who was part of the team that allowed for it to finally be developed and launched.

According to the documentation, this is one of the first countries to actually implement a blockchain solution on a national level – having officially put it into action back in 2012. But what prevents us from just accepting that and moving on is the fact that, digging further into this documentation – it had actually begun testing back in 2008. So, naturally there were questions circulating as to why.

Sabaje himself was under the impression, according to some of the clues he had been following, that one of the people of interest was a man by the name of Helge Lipmaa, and went on to provide a good deal of evidence, albeit circumstantial in nature. An example of this circumstantial evidence included the interestingly identical displayed birthdays of both Satoshi Nakamoto and Lipmaa. Lipmaa had also been responsible for the applied process of timestamping digital documentation, and had actually placed a special emphasis on the concept of blockchain technology for his personal Doctoral thesis back during the 1990s.

Along with this thesis, Lipmaa had also been an active defender of it during his time at the University of Tartu in 1999. The range of evidence does continue on, with some of it concluding that, with the additionally interesting fact that his personal blog was shut down during 2008. At the same kind of time that Nakamoto’s blog became exceptionally active.

While the amount of evidence makes for an interesting case, Lipmaa categorically denies any kind of connection with Nakamoto. In addition to this overt denial, Lipmaa has since stated that he has, and wants nothing to do with the topic, thanks in large part to the onslaught of press enquiries he has received in the aftermath of it, due to Sabaje sending his findings to a series of major international news outlets.

While this investigation turned out to be a bit of a dead end for Sabaje, he was on the right kind of tracks in believing that it was Lipmaa, considering the fact that he and Ahto Buldas were both involved in research together on the concept of linked timestamping.

However

While there was a pretty interesting kind of paper trail heading over to the Baltic, there is a different theory being put out there by another writer. While they do go on to concede that it’s not a wholly unique theory to suggest that Satoshi may refer to a collective of people as opposed to just being one person.

But, what this writer did find when delving into the kind of history that the nation of Estonia has had with blockchain technology, along with the company that actually designed it, theories started to percolate as to whether this particular company was, in fact, Satoshi Nakamoto. And if not the company in its own right, then at least the founder of it.

The company itself, more commonly known as Guardtime, is one of the leading developers and providers of bespoke blockchain solutions for governments, as well as major corporations across the world. In the past, these have consisted of some pretty big names such as Verizon and Ericsson. When it comes to deals with international governments – these consist of the United States, China, the Netherlands, the United Kingdom, along with the Kingdom of Thailand.

Each of these countries has since signed deals in order to collaborate with Guard time in order to develop highly secure blockchain solutions for incredibly sensitive and major sectors of their governments.

Now For The Incredibly Interesting Part

If we actually take look through the news regarding Guardtime during the time frame of 2008 to 2012, one of the results comes up as showing that the company has been working with blockchain technology since 2008.

https://cdn-images-1.medium.com/max/1600/1*QK7HC96sOM6qscnHbdobpQ.png

https://cdn-images-1.medium.com/max/1600/1*QK7HC96sOM6qscnHbdobpQ.png

Users can find this particular screen and page using the Wayback Machine to find it, being dated December 28, 2007:

https://cdn-images-1.medium.com/max/1600/1*Vot9EES5c-vMispT8f19tw.png

https://cdn-images-1.medium.com/max/1600/1*Vot9EES5c-vMispT8f19tw.png

https://cdn-images-1.medium.com/max/1600/1*63vW2uzqg3j61iG3l0wJiA.png

https://cdn-images-1.medium.com/max/1600/1*63vW2uzqg3j61iG3l0wJiA.png

https://cdn-images-1.medium.com/max/1600/1*vC0-rRqmR31xAq7GiGCACg.png

https://cdn-images-1.medium.com/max/1600/1*vC0-rRqmR31xAq7GiGCACg.png

What we find out from some of these pages, according to the writer, is that the founder of Guardtime is a Mike Gault. So here is where it delves into a mission akin to Atlas Shrugged. And it turns out that you don’t exactly need to look that far – considering that he has an online bio on Crunchbase:

Mike Gault is the current CEO and Founder of Guardtime. Gault has led the company for the last 10 years (taking him to 2008/9 easily). Mike Gault started his career by conducting research while residing in Japan on the numerical analysis of quantum devices. From here, Gault then spent the next 10 years as a quant and derivatives trade with both Credit Suisse and Barclays Capital in Tokyo.

Mike Gault has since recieved a PH.D specializing in electronic engineering from the University of Wales, as well as an MBA from the Kellogg-HKUST Executive MBA Program.

Taking into consideration the fact that Gault, being a graduate of the University of Wales, while also being a long time resident of Japan would go a long way to explaining the various time-stamps for correspondence with Nakamoto, as well as the perfect command of English that he had.

“Nakamoto claimed that work on the writing of the code began in 2007. (Guardtime fired up its servers on 07/07/2007, as mentioned below)”

And,

“He provided some commentary on banking and fractional-reserve banking. On his P2P Foundation profile as of 2012, Nakamoto claimed to be a 37-year-old male who lived in Japan, but some speculated he was unlikely to be Japanese due to his use of perfect English and his bitcoin software not being documented or labelled in Japanese.”

The evidence demonstrating his written sensibilities is shown through his correspondence through forum posts as well as personal emails to colleagues.

“Occasional British English spelling and terminology (such as the phrase “bloody hard”) in both source code comments and forum postings led to speculation that Nakamoto, or at least one individual in the consortium claiming to be him, was of Commonwealth origin.”

“Moreover, the first bitcoin block that could only be mined by Satoshi contains the encoded text The Times 03/Jan/2009 Chancellor on brink of second bailout for banks which implies that he was reading London’s The Times newspaper at the time of the inception of bitcoin.”

Along with this amount of evidence, there is also an accompanying publication based in Estonia, which comes emblazoned with a Google timestamp from December 18th, 2008, bus having been dated in August 2009 within the actual publication.

One of the other potential smoking guns that exists in the mind of this writer, demonstrates that Guardtime was officially established back in 2006. Was this a mistake? Or more proof?

“Japan Guard Time Incorporated –

Awarded Red Herring’s top 100 companies in Asia, Guardtime was founded in 2006 by two cryptologists named Mart Saarepera and Ahto Buldas as well as the current CEO – Mike Gault. GuardTime offers a scalable, highly available keyless signature service.”

“Whether data from around the world is stored on a disk, travels through a network, or is deposited on the cloud, you can prove the time, source and integrity of data throughput throughout the data lifecycle. We provide keyless signature services.”

There is yet more telling evidence and confusion within a particular written interview with Mike Gault from around 2012/2013. It contains a series of clues and demonstrates a range of connections both Gault and GuardTime itself have to the start of blockchain technology. These are some of the first paragraphs.

“In 1988, when the digital world was still in the distant future, two young students of cybernetics — Märt Saarepera and Ahto Buldas — met at the Tallinn University of Technology. Some years later, Saarepera travelled to Tokyo as an exchange student and dived into the world of applied information security and cryptography, publishing in various scientific journals. At the same time, Buldas stayed in Tallinn, working on digital signatures, the latest rage all around the world.”

“At the Tokyo Institute of Technology, Saarepera met two people who later became the key figures behind Guardtime. First he struck up a friendship with his course-mate Mike Gault, who was studying quantum transistors.He then found common ground with the well-known Japanese venture capitalist, technology guru, DJ and writer Joichi Ito.”

“Ito, the founder of the first ever Japanese website, invited Saarepera to work in his business incubator, Neoteny Labs. In the second half of the 1990s, Saarepera and Buldas made big plans. They discussed the nitty-gritty of the global information security system. They looked for development funds. They attracted the interest of the Estonians who had founded Skype and, together with some partners, Skype invested over 15 million Estonian kroons (about 560,000 euros) in the enterprise.”

The evidence continues.

“In autumn 2007, Ito visited Tallinn in order to formalise his personal investment in Guardtime. He visited the Skype team led by Toivo Annus, and in his subsequent blog post he had only good things to say about Estonians and the free wifi network of Tallinn. The quality of the latter supposedly surpassed the wifi of Frankfurt Airport but not that of Ito’s own Tokyo office. Guardtime received a new impetus.Ito became an important person in setting the direction of the company. On the magic date of 07.07.07 the clock of the servers was started and the history of Guardtime began. Now it was possible to check and issue signatures.”

Taking a Dive Into The Life Of Joichi Ito

The writer then dives into the like of the previously mentioned Joichi Ito. Ito himself was born in Japan, but has since lived in both Canada and the United States until he was 14, when he and his family returned to Japan. Even with these series of moves, Ito himself continued to attend an American-influenced School. While he lived in the United states, this would put his time cycle several hours behind that of Japan. When it comes to the hours of inactivity for Satoshi Nakamoto, his typical hours of inactivity and sleep would generally have to be between 1am and 7am.

This would make for a more than logical time frame for many of us to sleep during. It is also likely that Ito learned his fair share of British / English phrases while he attended his more internationalized school.

While also attending this international school, Io has since built up a reputation for himself as a well known and accomplished venture capitalist, being one of the early stage investors in companies like – 3Dsolve, Dopplr, Formlabs, SocialText, Flickr, Kongregate along with a wide array of other internet based companies.

According to a more publically facing profile of his, Ito is also known as:

“A vocal advocate of emergent democracy and the sharing economy, Ito is a doctoral candidate in Business Administration focusing on the sharing economy at the Graduate School of International Corporate Strategy, Hitotsubashi University. He is the author of Emergent Democracy. Ito is Senior Visiting Researcher of Keio Research Institute at SFC. In May 2011, it was announced that Ito’s company, Digital Garage, will provide PR, marketing, product marketing research and market research for Linkedin Japan.”

About Märt Saarepera And Ahto Buldas

According to sources, we have both Mart Saarepera and Ahto Buldas to thanks for the invention of the Hash Calendar

“Their design goal was to remove the need for a trusted third party i.e. that the time of the timestamp should be verifiable independently from the issuer of the timestamp.”

According to an article that was officially published by LHV within its dedicated forums in 2008, it was further noted.

“The technology magazine Red Herring put the world’s most innovative companies at the end of January. Of the 1,200 companies, hundreds of the most innovative in the world were selected after several rounds. In 2006, GuardTime, founded by Estonians Märt Saarepera and Ahto Buldas, won the Red Herring TOP 100 place.”

The LHV article goes into further detail.

“GuardTime is engaged in technology development, which is a timestamp or a digital fingerprint. Tracking devices and programs and technology developed by GuardTime can determine when files are actually created. GuardTime technology can be implemented by any authority that needs to prove when digital data was created. Thanks to the GuardTime team, Alex Vieux, head of Red Herring, said he was the best choice after the winners were announced.”

In addition to this information about the two founders. There is also an accompanying photo that is available to view via Flickr dated back in 2007 – showing Märt Saarepera standing in front of a white board which appears to have an outline of what we know as being a Merkle Tree – a layer solution for dealing with processing information at speed. It is also found that the photo itself appears to have been taken by Joichi Ito.

So what exactly does this mean? Could this forum post along with the photograph be some of the first pieces of evidence that we have of the team working to build the very first blockchain?

Ahto Buldas himself also took to the internet on 2007 in order to publish a paper which showcases the following:

“We prove in a non-black-box way that every bounded list and set commitment scheme is knowledge-binding. This is a new and rather strong security condition, which makes the security definitions for time-stamping much more natural compared to the previous definitions, which assume unpredictability of adversaries. As a direct consequence, list and set commitment schemes with partial opening property are sufficient for secure time-stamping if the number of elements has an explicit upper bound”

Buldas goes into further detail about commitment schemes as well as more information about cryptography.

“Commitment schemes are basic building blocks in numerous cryptographic protocols. The most important properties of commitment schemes are binding and hiding. A commitment is hiding if it reveals no information about the committed message and binding if it is impossible to change the committed message afterwards without detection.”

Finally,

“However, Buldas et al [7] pointed out a flaw in the security proof of [12]. By giving a carefully crafted oracle separation they showed that pure collision-resistance is insufficient to prove that the hash tree time-stamping schemes [12] are secure. In other words, either there are collision-resistant functions that are still insecure for time-stamping, or the security of time-stamping schemes follows from currently unknown complexity-theoretic results.”

When It Comes To Blockchain Technology – Surely This is an Outline?

Another piece of information that makes this investigation all the more interesting for the writer is the fact that there was an article dated last year on Issuu, which makes the argument that GuardTime was actually working on the concept and application of blockchain technology in a practical sense before Satoshi’s Bitcoin.

Through the use of the Wayback Machine, there were a large number of grants for research submitted to the Cybernetica organization. These consist of various research proposals such as – ‘Privacy Mining: Cryptographic Methods (ETF6848) which surfaced between 2006 and 2008, along with the 2003/2004 proposal ‘Cryptographic Methods to Ensure Consistency of Database Query Responses (ETF5568).

So, in summary, the writer had managed to find this information over a matter of hours. And while it is all based upon speculation, it’s fair to say that the researcher is onto something pretty profound here. The writer then goes on to explain why there are so many companies that invested into GuardTime’s application of blockchain technology with relative speed and ease, this would lead the company to become the leading face for governmental and business-facing blockchain applications in the world.

Maybe the reason we’re not getting so much in the way of information from this illustrious Satoshi Nakamoto is because he is compounded by some kind of business related of governmental non-disclosure agreement. To go even further, the writer muses that maybe this is also the reason why Satoshi’s wallet has not been touched since he first deposited the BTC into it – because it’s owned by a conjoint Estonian/Japanese industry agreement or their governments.

While these are certainly some plausible theories provided, the truth certainly remains to be seen, for now.

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Bitcoin [BTC BSV] – Craig Wright Unable to Access ‘his’ Bitcoin Fortune

Wright continued his narrative about being the creator of Bitcoin, the mysterious Satoshi Nakamoto. Wright said that he brought in Kleiman back to …
satoshi nakamoto

Craig Wright, the controversial Australian computer scientist and self-proclaimed creator of Bitcoin are allegedly unable to provide a list of all his public bitcoin addresses that he owned before December 2013. On Friday, Wright said at a federal court hearing in West Palm Beach, Florida that he was unable to comply with the court’s May 2019 order to produce the list and neither was he able to access the coins in the said wallet addresses associated with those public bitcoin addresses. Wright and Kleiman reportedly mined more than 1 million bitcoins between the years of 2009 and 2010, an amount half of which the Kleiman estate is claiming to be under the possession of Wright and should be returned to the rightful owner.

In order to prove the existence of the coins, the South Florida court ordered Wright to produce a list of all his bitcoin addresses prior to December 2013. Friday’s hearing was to submit the list to the attorneys but this failed to happen. Wright continued his narrative about being the creator of Bitcoin, the mysterious Satoshi Nakamoto. Wright said that he brought in Kleiman back to help him in obfuscating and erasing his online activities, at least those that could associate him to the pseudonym Satoshi.

I brought in Dave because he was a friend and he knew who I was and he was a forensic expert, and I wanted to wipe everything I had to do with Bitcoin from the public record.

Wright claimed that the reason for wanting his identity disassociated with Bitcoin was because back in 2010, the coin became notorious for being used by nefarious internet users to trade drugs and other illegal activities such as arms dealerships and child pornography.

However, Kleiman passed on in 2013 and with him, according to Wright, went the critical information that could enable him to access the millions of bitcoins. All the information about the wallets holding the coins and the private keys were under the possession of Kleiman before his death. Wright is, however, comfortable not having access to ‘his’ coins.

My wife and I consider it’s too much money. I’ve got enough now… and we worry what that amount of money would do to the kids.

The hearing, however, took a turn for the worse during Wright’s interrogation with emotions taking over him as he responded to some inquiries. He even claimed not being able to see well the documents before him asking the court “Does anyone have any reading glasses?” At one time he became overwhelmed throwing some documents to the ground, an act that earned him a threat from the judge.

The hearing went into recess awaiting another court date with expert witnesses. Wright filed an intention earlier this week to call on three expert witnesses – Kevin Madure, Brett Roberson, and Steve Shadders – in addition to him taking the witness stand.

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Curious new theory links Bitcoin’s inventor to Estonia

Is it a coincidence that an Estonian startup began testing blockchain in 2008—the same year that the pseudonymous Satoshi Nakamoto published his …

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Is it a coincidence that an Estonian startup began testing blockchain in 2008—the same year that the pseudonymous Satoshi Nakamoto published his pioneering Bitcoin white paper?

A new theory suggests that the company, Guardtime, which has since grown into a multinational corporation producing military-grade blockchains, merits closer investigation. It may hold the key to the identity of Bitcoin’s elusive inventor.

A gaggle of Satoshis

Estonia has been linked to Satoshi before. In 2018, Estonian press reports suggested that cryptographer Helger Lipmaa was behind the white paper, which he has since denied. But a new theory, put forth yesterday by tech consultant Kimberly Forsythe, casts a spotlight beyond Lipmaa, onto a group of scientists connected to him.

Those scientists—a group that included Joitcho Ito, who currently heads MIT’s Media Lab—were working on projects that eerily resemble blockchain in everything but name.

The figure at the centre Forsythe’s investigations is Guardtime’s CEO Mike Gault, who has a profile that, Forsythe says, is uncannily similar to that of Bitcoin’s inventor.

For instance, Gault, who isIrish by birth but studied in the UK between 1986 and 1994, moved to Tokyo in the early nineties. There he researched quantum computing at the city’s Institute of Technology.

In his writings, the mysterious Satoshi claimed to be a 37-year-old male who lived in Japan. But there’s also ample evidence of “Britishisms” in his writing.

By 2008, when the Bitcoin paper was published, Gault was simultaneously working as a derivatives trader in Tokyo, pursuing an MBA in Hong Kong, and setting up Guardtime in the Estonian capital Talin, according to an interview in the South China Morning Post.

Did he have an opportunity to squeeze out the seminal Bitcoin paper too?

It seems unlikely—but Forsythe postulates that Gault had collaborators.

At the Tokyo Institute of Technology, he met Estonian Märt Saarepera, who was studying applied information security and cryptography, and Ahto Buldas, Saarepera’s former classmate back in Tallinn. Also in Tokyo, Gault encountered the fourth figure in the story, influential Japanese venture capitalist Joichi Ito—who went onto become the founder of the MIT Media Lab

A pre-blockchain company

The four went on to start a company called Guardtime, with Ito providing gravitas and investment. Forsythe speculates that, in tandem or alone, they had the opportunity, the knowledge and the incentive to write the Bitcoin white paper.

Her argument is strengthened by the fact that Buldas appears to have worked—both with Saarepera and alone—on technology remarkably similar to blockchain. That research centered on ensuring the integrity of electronic data using cryptographic verification via digital signatures, hash functions and timestamping.

Buldas and Saarepera’s goal: to remove the need for a trusted third party.

Ahto Buldas bitcoinAhto Buldas bitcoin

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Ahto Buldas in Tallinn, 2007. IMAGE SOURCE: Joi Ito via Flickr. CC BY 2.0

In an interview with Decrypt yesterday, Forsythe said that her research and theories, printed in the Medium-based magazine The Startup, are been purely speculative. And—while many of the jigsaw pieces do appear to fit into place—there are plenty of holes: who contributed what to the paper; why did they use a pseudonym and, most importantly, why did they abandon it?

“I came across Guardtime as being the company who built it for Estonia and is growing exponentially for building blockchains for governments,” she explained. “It sparked the intrigue into whether the group was the one who released Bitcoin. It seemed to be the most plausible connection I have heard of yet as to Satoshi’s identity.”

But questions about this connection, which we sent to Mike Gault, Märt Saarepera, Ahto Buldas and Joichi Ito, were not answered.

Network Defenses

Why, if the collaborators were indeed Satoshi, did they go AWOL? One theory is that “Satoshi” disappeared due to the phenomenal—and somewhat sensitive, from the perspective of different country’s national security—success of Guardtime.

The companylaunched in Estonia in 2007 to protect the country, following a series of suspected Russian cyberattacks.

The system Guardtime ultimately developed,based on hash function cryptography, aims to ensure the integrity of electronic data by allowing it to be independently verified using only mathematical methods. It allows organizations to detect changes in the integrity state of monitored digital assets in real-time.

Guardtime’s so-called “Keyless Signatures Infrastructure” swiftly won a contract with the Government of Estonia.

But over the years it went on to land millions of dollars worth of contracts with entities ranging from the governments of Thailand, the UK and even China, to U.S. defense contractors Lockhead Martin and Raytheon.

The company is also a blockchain vendor across a multitude of industries. It’s entrusted with weighty stuff such as protecting the provenance of data for the European Space Agency. And ts services underpin the world’s first blockchain-supported healthcare platform, which serves 30 million NHS patients in the UK.

“I think we’re the only blockchain company that makes money and makes products,” Gault told theSouth China Morning Post last summer.

“We have been working on the topic long, long before Bitcoin was thought of,” he, told tech publicationThe Verge in 2018. “There is no new cryptography in Bitcoin—the genius behind it was taking different cryptographic building blocks and building a cryptocurrency protocol that incentivizes people to use it.”

Forsythe reached out to the four principles, asking them to comment on her findings. But thus far, only MIT’s Ito has replied to Forsythe. His one-word response: “Ha!” That sounds about right.

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