The Museum of Bitcoin (BTC) at the North American Bitcoin Conference in Miami

Satoshi Nakamoto is a cypherpunk, and Bitcoin was originally released on the cypherpunk mailing list. 467 masks decorated the room, representing …

Listen to the audio walkthrough of the Museum of Bitcoin.

Tucked into the corner of the dining room at The North American Bitcoin Conference in Miami was a small makeshift building, and a glimpse through the door revealed a metallic room with constantly fluctuating neon lights.

Crypto.IQ investigated, and inside was one of the first Bitcoin museums in the world. Heath Hawkins, the head of creative at Proxley, gave Crypto.IQ an in-depth tour of the Bitcoin museum. Each room had a separate theme and numerous interesting art pieces.

The first room was the cypherpunk movement, which was a movement defined by coders who were creating anonymity technology to enhance freedom. Satoshi Nakamoto is a cypherpunk, and Bitcoin was originally released on the cypherpunk mailing list. 467 masks decorated the room, representing the multitudes of anonymous cypherpunks who got Bitcoin started.

The second room was the Bitcoin genesis room, and there was a genesis block sculpture with abstract paintings on each side to represent the abstract thought that went into the creation of Bitcoin.

There is also a throne made of blocks with the words “I am Satoshi Nakamoto” above it. The throne is empty because the public does not know Satoshi’s identity to this day.

A painting of “Mount Faketoshi” resides in the genesis room, with paintings of several people who were said to be Satoshi but later debunked including Elon Musk, Craig Wright, Hal Finney, and Dorian Nakamoto.

The tour continues into the Bitcoin pizza room, to commemorate the two large Papa John’s pizzas that were purchased for 10,000 Bitcoins. This was the first time that Bitcoin was used to purchase real goods, and these are perhaps the most expensive pizzas in history. A couple of large inflatable pizzas are on the wall, and there is a stack of Papa John’s pizza boxes with a 10,000 Bitcoin price tag.

Additionally, there were tweets in frames on the wall showing people who dumped Bitcoin way too early in 2011.

In the next room is Ross Ulbricht’s prison cell. Ulbricht is the Founder of Silk Road and worked under the pseudonym Dread Pirate Roberts. The Silk Road was important for increasing Bitcoin adoption in the early days of Bitcoin.

Ulbricht got a double life sentence plus 40 years despite major Silk Road drug dealers getting much lower sentences. Ulbricht’s mother was at the conference gathering signatures for a petition to get a presidential pardon.

The next room in the Museum of Bitcoin was the 2014 bear market room, which was precipitated by the collapse of Mt. Gox. There is a Mt. Gox sculpture in the room.

There is a Bitcoin price chart for 2014 on the wall, and the graph is surprisingly similar to the 2018 bear market.

The last room in the Museum of Bitcoin is future themed. It looks like a room from outer space, with stunning 3D and animated Bitcoin visuals. There is a Bitcoin logo that responds to touch. There is also a virtual reality game in the room where users literally can go into another dimension, and there are plans to make an entire virtual reality room in the museum in the future.

Unfortunately, the Museum of Bitcoin has been torn down since the North American Bitcoin Conference is over. There are hopes however for a bigger and more permanent Museum of Bitcoin in the future.

Related Posts:

  • No Related Posts

Satoshi Nakamoto: To Be or Not to Be

In 2013, the YouTuber advised his followers to withdraw their virtual cash from Mt Gox, at the time the world’s largest Bitcoin exchange. Mt Gox …
16Jan, 2019

The dormant P2P Foundation account of Satoshi Nakamoto – the man, or group of people, who invented Bitcoin – sprang back to life early December, with a single mysterious, and so-far undefined, word: “nour”.

Nakamoto, or the person using his account, also responded to a Brazilian user of Japanese descent who had sent a friend-request more than a year ago. That’s about it.

Nakamoto watchers believe the P2P Foundation account may have been hacked, and the mystery remains intact. Editors at news aggregator Reddit (known as “Redditors”) are convinced they have identified the elusive inventor in a YouTube user with the nickname davincij15, who uploaded videos on precious-metal trading in 2009. davincij15 went on to make a series of accurate predictions on cryptocurrencies in general, and Bitcoin in particular. In 2013, the YouTuber advised his followers to withdraw their virtual cash from Mt Gox, at the time the world’s largest Bitcoin exchange. Mt Gox suffered a virtual heist (or malfunction) in February 2014 – during which 850,000 Bitcoins (BTC), valued at $450m, disappeared. Only BTC 200,000 have since resurfaced, and Mt Gox is currently in liquidation.

Nakamoto is said to own BTC1m, which he mined in 2009 from the Genesis Bloc. This represents a paper value of over $3bn, though cashing-in such a sum could wreak havoc in a jittery and sensitive market. However, the Bitcoin ledger shows that none of Nakamoto’s bitcoins have been traded. Satoshi Nakamoto has been listed as missing since at least 2010, two years after he launched the software that drives Bitcoin. The name sounds Japanese, but the Bitcoin white paper that was distributed among cryptographers in 2008 is written in flawless English. Nakamoto could be British. Or Finnish. Even Elon Musk has been suggested as the genius behind Bitcoin.

Conspiracy theorists believe Nakamoto to be a consortium of four large corporates, and find a clue in the names Samsung and Toshiba for the first name, and Nakamichi and Motorola for the surname. Other identities suggested include Dorian Nakamoto (an unemployed physicist), Hal Finney (a cryptographer and early Bitcoin miner), Craig Wright (an Australian businessman and self-styled inventor of Bitcoin), and Nick Szabo (the creator of Bit Gold, a precursor of cryptocurrencies). Then there is that worker at a media company who analysed the original Bitcoin white paper for unique phrases and chanced upon “computationally impractical to reverse” – a technological term employed, and reportedly patented by, a group of three senior programmers – who also registered the domain, three days after the release of the original white paper.

Whatever Nakamoto’s identity, there is no doubt that he is/was a visionary and a gifted programmer. However, he was not well versed in economics or the world of finance. Though an interesting proposition from an ideological standpoint, Bitcoin’s entire setup spells economic doom and gloom should BTC ever become a common currency. Bitcoin is squarely aimed at exposing the evils of fiat money, and seeks to reintroduce a gold standard of sorts by limiting BTC to a hardwired ceiling of 21 million. Bitcoin is by definition a deflationary currency.

Despite hints of a Ponzi scheme, Bitcoin’s built-in scarcity should, in theory, ensure steady appreciation. As such, why spend a Bitcoin now, if it is likely to be worth more in future? Deflation is one of the most haunting and disconcerting spectres in all of economics. The European Central Bank has created and floated a few trillion extra euros to keep deflation at bay.

There is a reason for that – one that Nakamoto and his followers have failed to understand.

Share this article:


Related Posts:

He claims to have invented Bitcoin. Should we believe him?

Nakamoto is the name of the anonymous creator of the crypto-currency Bitcoin. Bitcoin was conceived in 2008 when a white paper was published …

Ever few months, it seems another news organization claims to have figured out the real identity of the mysterious Satoshi Nakamoto.

Nakamoto is the name of the anonymous creator of the crypto-currency Bitcoin. Bitcoin was conceived in 2008 when a white paper was published under the pseudonym of Satoshi Nakamoto. The paper laid the foundation for what would become Bitcoin a crypto-currency.

“Satoshi communicated or collaborated with dozens of individuals in developing the Bitcoin software and Bitcoin network. We have a sense of Satoshi from his writings, but we’ve never heard him speak,” says Jerry Brito, the executive director of Coin Center, a non-profit advocacy organization focused on cryptocurrencies like Bitcoin.

In fact, says Brito, it’s unknown whether Satoshi Nakamoto refers to a “he” or “she” or even “they.”

“Potentially Satoshi is a pseudonym for a group of people,” explains Brito.

Not so if 45-year-old Australian computer scientist Craig Wright is telling the truth. On Monday, Wright came out to the BBC, The Economist andGQ magazine, claiming that he is the mysterious creator of the virtual currency. World exclusive – Craig Wright tells BBC in what he says is only TV interview he’ll ever do he’s Satoshi Nakamoto

— Rory Cellan-Jones (@BBCRoryCJ) May 2, 2016

Brito and several other cyrpto-currency experts are not convinced. This isn’t the first time that Wright has been outed as Nakamoto, Brito said. Updated.

— Dan Kaminsky (@dakami) May 2, 2016

I have an open mind, but this is just not convincing.

— Jerry Brito (@jerrybrito) May 2, 2016

“Craig Wright was outted as Satoshi by [news organizations] Wired and Gizmodo a few months back,” says Brito.

But the evidence these news organizations used to connect Wright to Nakamoto turned out to be bogus and some claim that Wright might even have had a hand in planting the evidence cited by the news organizations, according to Brito.

Brito says, “When you look at Craig Wright a little more, you learn, for example, that he’s called ‘Doctor Craig Wright’ but there’s no evidence that he has any doctorates. He claims to be working on a supercomputer project with Silicon Graphics International [SGI] and SGI then said, ‘We’ve never heard of this guy.’ So he sort of became a person who was discredited as Satoshi.”

However, it’s not hard to imagine why somebody would want to be Satoshi Nakamoto.

“You’d be almost a billionaire,” says Brito.

According the the BBC, Nakamoto is believed to possess around a million Bitcoins or the equivalent of $450 million. However, this currency allegedly held by the unknown Nakamoto has never been used or claimed since the creation of Bitcoin.

Monday may not have been the best day to cash in though, as the volatile currency dipped slightly.

From PRI’s The World ©2018 PRI

Related Posts:

10 Years Ago: Hal Finney Started ‘Running Bitcoin’ Increasing The Node Count to 2

Hal Finney started running the second Bitcoin node after the first node being set up by Satoshi Nakamoto, the flagship cryptocurrency’s creator, himself …

An important date in Bitcoin history has recently been celebrated. About 10 years ago, Hal Finney became the second person to run a Bitcoin node, and tweeted about using two simple words most likely didn’t understand at the time.

Running bitcoin

— halfin (@halfin) January 11, 2009

This tweet has now become famous among the crypto community, with some claiming to be “the most iconic tweet of the 21st century”. Hal Finney started running the second Bitcoin node after the first node being set up by Satoshi Nakamoto, the flagship cryptocurrency’s creator, himself. One day later, Hal was on the receiving end of the first ever Bitcoin transaction, having received 10 Bitcoins from Satoshi.

Hal Finney’s Life

Born in 1957 in California, Hal Finney was a computer scientist, cypherpunk, and a major contributor to Bitcoin. Finney graduated with a BS in engineering from California Institute of Technology and started his career as a video game developer. Later on, he joined PGP Corporation and remained there until his forced retirement in 2011.

The engineer was diagnosed with Lou Gehrig’s disease in 2009. Although his body gradually became paralyzed, Finney continued to program until he passed away on August of 2014. His body was cryopreserved by the Alcor Life Extension Foundation.

An extensive post on Bitcointalk provides compelling evidence that Hal Finney is Satoshi Nakamoto. Among all the claims, one that stands out is the fact that he had a neighbor who lived two streets away called Dorian Satoshi Nakamoto. He was also responsible for creating the first reusable proof-of-work system prior to Bitcoin. However, Hal publicly denied being Satoshi on several occasions, and there’s no concrete proof.

From Zero to Hero

As the engineer mentioned in a very personal Bitcointalk post (“Bitcoin and Me”), various cypherpunks were initially skeptical when Satoshi announced the Bitcoin whitepaper. Rightfully so, as many attempts to create a digital currency independent from governments had failed at the time.

Due to its core technology and the work of several early supporters, Bitcoin has so far been successful. In 2010 the first real world purchase took place, when 2 pizzas were sold for 10,000 BTC in a transaction that would’ve been worth over $20 million when bitcoin was close to its all-time high.

Nowadays, Bitcoin has reached a status unimaginable by many early adopters. Responsible for creating an entire industry, now worth more than $120 billion, Bitcoin paved the way for financial freedom and privacy. Many technologies we see today, and others we will see in the future, wouldn’t have been possible if it weren’t for the cryptocurrency and its underlying blockchain technology.

1/ 10 years ago today, Satoshi Nakamoto released version 0.1 of the #Bitcoin software. About two days later, the brilliant cryptographer Hal Finney (RIP), had downloaded Satoshi’s code and was also running it, increasing the node count of the Bitcoin network to 2.

— Vijay Boyapati (@real_vijay) January 8, 2019

The cryptocurrency community has celebrated Hal Finney’s tweet on social media, making it one of the biggest topics of the week. While Finney’s node was the second one on the network, today there are over 10,000 nodes “running Bitcoin” and ensuring the flagship cryptocurrency is here to stay.

As CryptoGlobe covered there’s a lot to look forward to in 2019 in the cryptocurrency space. One of the things we can expect is seeing BTC continue being sound, censorship and tamper-resistant money.

Related Posts:

  • No Related Posts

Today Marks The 10th Anniversary Of The First Bitcoin Transaction

Ten years ago, the first transaction involving bitcoin took place marking a new era for the global monetary system. The transaction took place between …

The Beginning Of A New EraShutterstock

Ten years ago, the first transaction involving bitcoin took place marking a new era for the global monetary system.

The transaction took place between the pseudonymous creator (or creators) behind bitcoin, Satoshi Nakamoto, and Hal Finney, a U.S. software engineer and long-time cryptographer and cypherpunk. Finney is also one person many suspect as being Nakamoto.

Illustrating his enthusiasm for it, Finney tweeted what is considered to be the first post about it 10 years ago:

Since then the cryptocurrency market and the technology behind it, the blockchain, have grown to new levels, with the creation of new altcoins entering the space.

According to Nydia Zhang, co-founder and chair of the Social Alpha Foundation, a not-for-profit grant making platform supporting blockchain for social good, the industry has changed “the manner in which people connect for commerce, governance, finance and industry without the need for a middleman.”

From cryptocurrency which has redefined how we define, quantify and exchange value, to trustless ledgers that bring databases into a realm of interoperability not possible before, bitcoin and its technology has changed everything, she added.

She went on to note that even though 2018 was a severe trial for crypto, it survived extinction and will continue to grow stronger in 2019. The same can be said of the blockchain, which will “continue quietly and powerfully powering the new internet,” she said.

Reflecting back on the past 10 years, the use of the blockchain and cryptocurrencies has grown from a small entity that only a few knew about to something that is now used in a number of ways, helping to solve real-world problems in various sectors. One of the most notable industries affected is considered the finance sector.

“Cryptocurrencies were the first showcase example of blockchain technology at work, opening the door to new payment practices, while addressing many of the long-standing issues plaguing traditional finance, such as high transaction fees and settlement delays,” said Nick Cowan, managing director and founder of the Gibraltar Stock Exchange Group Limited.

Even though 2018 wasn’t the best year for bitcoin compared to its bull run in late 2017, interest within the market continues. That being said, it may be that increased regulation, advances in technology making it easier for the public to use and invest in as well as greater adoption by large institutions will help to push the space toward mass adoption.

For Angel Versetti, CEO and co-founder of Ambrosus, a blockchain-based IoT system that aims to improve the tracking of products through the supply chain, he believes the space is important now as it was 10 years ago.

We are on the brink of another major financial crisis and possibly a bigger geopolitical cataclysm, and thus the core value proposition of bitcoin as a censorship-resistant and truly limited digital asset that is not subject to control is as relevant as ever.

Versetti added that the crypto and blockchain space will continue to deliver on its core values and benefits because no trust has been lost in the technology. The only disappointed people, he says, are those who got into crypto at the wrong time and are counting their losses. In some ways, Versetti views the industry as the Caribbean in the 17th century, one that is full of riches and opportunities, but at the same time complete with pirates trying to take advantage.

“Now, these are being replaced by more organized groups that are perceived as more “legitimate,” he added. “While on one hand, I don’t welcome the fact that many of the newest crypto and blockcain projects are primarily driven by lawyers and investment bankers rather than by the cypherpunks and geeks who originated the technology, on the other hand, this will bring about more public participation in blockchain in the coming 12 months.”

Related Posts: