Crypto

We now know who Satoshi Nakamoto is not

Published

2 months ago

March 14, 2024

A London judge ruled developer Craig Wright is not the inventor of bitcoin.
Wright had claimed that he is Satoshi Nakamoto, the pseudonymous inventor of the crypto.
The Cryptocurrency Open Patent Alliance sued Wright for his claims he invented bitcoin.

The identity of Satoshi Nakamoto, bitcoin’s pseudonymous inventor, remains a mystery — but as of Thursday, we have more details as to who Satoshi is not.

London judge Edward Mellow ruled that Craig Wright is not Satoshi and that he did not invent the world’s largest cryptocurrency. He maintained that Wright did not author the famed bitcoin white paper, which was published more than 15 years ago.

The ruling marked the conclusion to a case brought forward by the Cryptocurrency Open Patent Alliance, a group of computer developers with the backing of Twitter founder Jack Dorsey, which sued Wright over his claims that he invented the world’s biggest cryptocurrency. Wright has attempted multiple times to confirm his identity as Satoshi but he has not convinced most of the broader crypto community.

“This decision is a win for developers, for the entire open source community, and for the truth,” said COPA in a statement posted on X.

The court agreed with COPA that Wright had lied about being Satoshi. In a March 13 blog post, the group laid out its full rationale refuting Wright’s claims and emphasizing what it said are gaps between his story and the history of bitcoin’s development.

The court will deliver a written judgment at a later date.

Satoshi is a legendary figure in cryptocurrency’s short history. His paper, “Bitcoin: A Peer-to-Peer Electronic Cash System,” came out in October 2008, and it’s since become a revered document in certain circles. Some theorists have drawn connections to the late Steve Jobs.

Bitcoin this week has soared to new records and has gained 61% year-to-date. The token hovered at $71,240 shortly after midday on Thursday.

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Crypto

'Dogecoin Killer' Shiba Inu Burn Rate Spikes 800%, Crypto Market Rallies As Sentiment Soars And More: This Week In Cryptocurrency

Published

6 hours ago

May 5, 2024

Press Room

The week was a rollercoaster ride for the cryptocurrency market. The crypto world was buzzing with news, from Shiba Inu’s surging burn rate to speculation of certain altcoins becoming irrelevant. Major cryptocurrencies like Bitcoin BTC/USD, Ethereum ETH/USD, and Dogecoin DOGE/USD ended April with heavy losses, but the market sentiment soared as the new week began. Let’s dive into the details.

‘Dogecoin Killer’ Shiba Inu Burn Rate Spikes 800%

Shiba Inu experienced a resurgence in its burn rates, with an 800% surge and millions of coins burned in recent transactions prompting positive market sentiment and an increase in prices. Read the full article here.

Altcoins’ Fate: Strong Performers or Irrelevant?

Pseudonymous crypto trader “Cold Blooded Shiller” questions whether the market is beginning to phase out certain altcoins in favor of stronger performers and Bitcoin. He notes that while Bitcoin’s strength is undeniable, there’s an interesting separation among altcoins. Meme coins like Dogwifhat, Pepe, and Floki Inu have seen significant gains, but will they maintain their momentum? Read the full article here.

See Also: Bitcoin, Ethereum, Dogecoin Rally, As Market Sentiment Soars On Macro Data: ‘Above $67,000 We Fly Like A

Heavy Losses for Bitcoin, Ethereum, Dogecoin in April

April ended on a sour note for major cryptocurrencies. Bitcoin, Ethereum, and Dogecoin closed the month with losses of 16%, 19%, and 40%, respectively. The new Hong Kong Bitcoin ETFs, contrary to bullish expectations, may turn out to be a “complete failure,” according to finance and crypto newsletter, WhaleWire. Read the full article here.

Are Dogecoin and Shiba Inu Due for a Bounce?

Despite a turbulent month, traders remain optimistic about Dogecoin and Shiba Inu. Chart analyst Ali Martinez predicts a bullish breakout for Shiba Inu SHIB/USD, while crypto trader YG Crypto analyzes Dogecoin’s recent performance, which saw a dramatic 40% price drop. Read the full article here.

Crypto Market Rallies as Sentiment Soars

Despite the losses in April, the cryptocurrency market started May on a positive note. Major cryptocurrencies are trading higher, with Bitcoin bouncing well above the $60,000 mark. Read the full article here.

Read Next: Dogecoin Is ‘Primed For Higher’ But Pepe Is ‘On A Moon Mission,’ Exclaims Trader

Image: Eivind Pedersen from Pixabay

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Crypto

Cryptocurrency Price Analysis: SHIB, DOGE, and XRP Face Varied Challenges

Published

13 hours ago

May 4, 2024

Press Room

Throughout much of the month, the majority of top assets maintained a sideways trajectory. While some experienced marginal upticks, others contended with declines. Let’s delve into the price analysis of Shiba Inu (SHIB), Dogecoin (DOGE), and Ripple (XRP). Shiba Inu (SHIB)Coin Edition’s evaluation of SHIB’s 4-hour chart revealed a bearish signal. Specifically, attention was drawn to the Exponential Moving Average (EMA), where the 20 EMA (yellow) crossed below the 9 EMA (blue)—a phenomenon known as a death cross. Moreover, SHIB’s price lingered beneath these indicators, signaling a diminishing strength for the token. Presently, there’s a prospect of SHIB’s price descending

Crypto

Bitcoin (BTC) User Paid Eye-Watering $100,254 for Single Transaction

Published

20 hours ago

May 4, 2024

Press Room

Bitcoin (BTC) User Paid Eye-Watering $100,254 for Single Transaction

A single Bitcoin BTCUSD transaction has caught the attention of many owing to its gas fee size. Blockchain analytics platform Whale Alert confirmed that a fee of 1.5 BTC was paid for a single transaction. This fee is equivalent to $100,254 based on the current market value of the top cryptocurrency. This fee is quite higher than the average transaction cost.

This user paid this enormous fee to have their transfer included in an ordinary Bitcoin block. Some of these transactions have been recorded in the past. In September 2023, a Bitcoin user paid a transaction fee of 19 BTC. This was around the time when Bitcoin price was trading at $26,000, hence, the 19 BTC was equivalent to $509,563.

Then again, in January, another BTC account paid over 4 BTC to have their transfer included in an ordinary Bitcoin block. The transaction was therefore charged with a whopping 1,800,890 sat/vB fee.

Potential reason for high transaction fee

Payment of such exorbitant fees usually raise suspicions as many market observers wonder the circumstances that could have led to it. At press time, Bitcoin’s average transaction fee was at a level of $4.696, up from $3.740 on May 4 and down from $6.696 one year ago. This is also a change of 25.57% from yesterday and -29.86% from one year ago, per data from YChart.

It is worth noting that ordinarily transaction fees can fluctuate due to network congestion. It once reached as high as $60 during the 2017 cryptocurrency boom. Hence, this outrageous transaction fee recently recorded could be a result of a mistake or a misconfiguration in transaction software. It could also be potentially for reasons known only to the transaction initiator or even a possible money laundering scheme.