Australian authorities departing after raiding the rented home of purported Bitcoin creator Craig Wright in Sydney’s north shore on Dec 9, 2015.
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Craig Steven Wright, an Australian entrepreneur, has confirmed that he is the creator of the Bitcoin – nearly five months after he was outed in media reports as the man behind the virtual currency. He gave evidence to prove his claims.
At the NY conference and elsewhere, the news was greeted by some with disbelief.
“I think it would be good news if Satoshi Nakamoto is found”, said Daniel Lipshitz, from bitcoin infrastructure company Gap 600.
After years of speculation over who the man is behind the digital cash system, he has finally revealed himself with technical proof backing up the statement as well as confirmation from prominent Bitcoin members. Several newspapers and magazines have written articles investigating Bitcoin. Perhaps it would be best to leave the whole affair in that state if Bitcoin is to prosper. But never got major break-through.
Wright revealed evidence to the BBC, the Economist and GQ that he created the digital money, following Wired and Gizmodo investigations that pointed to him as Bitcoin’s creator.
Wright added that he chose the name “Nakamoto” after Tominaga Nakamoto, a 17th-century philosopher from Japan.
Bitcoin has its own value and is not tied to any physical currency.
It has nearly been seven years since the introduction of Bitcoin and the identity of Nakamota was a well-kept secret.
He said he chose the pseudonym as a homage to Tominaga Nakamoto, a 17th-century Japanese philosopher, merchant and advocate of free trade.
Claims by an Australian computer scientist and businessman that he is the inventor of the digital currency Bitcoin are being met with some skepticism. I knew something was wrong as Craig Wright comes across to suave in the BBC interview. Journalists, researchers and amateur detectives have scoured Nakamoto’s emails and online posts, plus the original bitcoin code, for unusual phrases, cultural references and other potential clues to their author. No one else can have the same key. But that man “unconditionally denied” that report, which was widely criticized.
People who use Bitcoins do not have to use traditional banks, credit cards or other financial services when they use the electronic currency.
How does the bitcoin function? To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted to ensure a steady stream of new Bitcoins are produced each day. The process of generating the bitcoins is called mining. Forty percent of people who voted are still not sure they believe what Wright has said.
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A user has a unique key and address.
