Craig Wright has 145 problems, but a Satoshi aint one.
Stick around as we dive into this and more on Exodus Crypto News.
Hey everybody, it’s the last Friday in May 2020 and we’re happy you’re joining us
for the weekly crypto news recap.
We’re going to move pretty quickly so hang on.
If the name Craig Wright, otherwise known as CSW elicits a groan, you’re not alone
and he has rightfully earned the title of Faketoshi after years of making the claim
that he invented bitcoin without providing any verifiable proof.
Last year, Craig Wright submitted court filings stating that he owned a long list of dormant
BTC addresses that had mined Bitcoin in 2009.
Of course, he said he didn't have the private keys to prove this because they were stuck
in a time locked trust which is why the coins hadn’t moved.
Fast forward to now and 2 big things happened.
On May 21st a whale moved 40+ BTC mined in 2009 which catapulted speculation that this
was Satoshi cashing in.
Some dogged blockchain sleuths quickly determined this wasn’t Satoshi.
The coin movement did tie into Craig Wright however because the address was included as
one he claimed to own.
This caused a bit of double jeopardy for CSW.
If he owned the keys and moved the money, he would be liable to settle his court case
which would see him lose at least half of the bitcoin.
If he denied it was him, then he admits to providing false documents to a court of law.
There was really no time to let the dust settle enough for Craig Wright to provide an explanation
because just a few days later on the 24th, an early miner signed a bitcoin transaction with this
message:
“Craig Steven Wright is a liar and a fraud.
He doesn't have the keys used to sign this message.
The Lightning Network is a significant achievement.
However, we need to continue work on improving on-chain capacity.
Unfortunately, the solution is not to just change a constant in the code or to allow
powerful participants to force out others.
We are all Satoshi.”
Signing a message can only be accomplished with a private key and this message did not
just appear on a single transaction from a single Bitcoin address.
The Message was signed from 145 bitcoin addresses, all of which CSW claimed to be his.
These signed messages are categorical proof he does not have the private keys and puts
to bed any additional speculation of Craig Wright being Satoshi Nakamoto.
Will this be the end of hearing about Craig Wright?
This is one topic where everyone has a strong opinion.
Let us know yours in the comments below.
I say Polka, you say Dot, What you’ve never heard of Polkadot?
Essentially, as I understand it, the Polkadot network is the blockchain of the future, using
similar technology to Ethereum and has entire development teams, ahem Parity, who have moved
entirely away from ETH and into Polkadot. If you're not familiar
Pokladot is a platform built for Web3, so what happened to web 2.0? Well the logical
next step is for the internet to operate on blockchains, many of them, constantly interacting
with one another seamlessly allowing as far as the Polkadot mission statement says, to
have a “Web where our identity and our data is our own - safely secured from any central authority”
I don’t know about you but a completely decentralized web where users are in control
of their own information sounds great to me.
This is the first project from the Web3 Foundation and it has lofty goals.
Do you think Polkadot is a harbinger for the web of the future, will it eventually take
over Ethereum as the “platform” for builders?
Leave a comment with your thoughts and if you’re enjoying this video please give it
a like and subscribe for more from Exodus.
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Unless you haven’t been paying attention you’re all probably familiar with Money
printer go Brrrr meme.
The endless printing of money continues as the US government’s attempts at stabilizing
the economy approaches 6 trillion dollars
I don’t know about you, but when I first got into crypto I was bombarded with the magic internet money arguments.
It’s not real they said, there is no future in it they said, well here we are, in 2020
and the US unemployment rate is over 14 percent with over 40 million people out of work and
the government is piling money into the economy to feed the Stockmarket which, has seen some
recent stability.
What is this stability based on?
I would call it hopium, The tables have turned and Bitcoin, because of its programmed scarcity
and reduced stock to flow will always increase in value making it not imaginary internet
money but rather a solid store of value for the long term.
While at the same time the US federal reserve has said we have an unlimited supply of money
and they will keep printing as long as it’s needed to support the economy.
The thing is, there is nothing supporting the support.
The Fed prints money and then moves it around from one fungible ledger to another giving
the appearance of stability.
Okay, so l et me ask you this, If the US government can print an endless supply of money, why
do we have income inequality, why do we have education inequality, why are people going
hungry with not enough food to eat, Why….. do we need to pay taxes if there is an endless
supply of money?
Bitcoin and crypto fix this by putting the power of wealth into every individual to control
instead of the few wealthy having all the power.
Crypto and Bitcoin will be here when the inevitable happens to the fiat currencies of the world.
Speaking of smoke and mirrors and the control of the wealthy, Investment firm Goldman Sachs
held a public call this week with none other than Bitcoin on the agenda.
There was speculation that Goldman would open up custodial services for their client base
and what it would do to the Bitcoin price.
That speculation turned out to be incorrect.
Goldman Sachs went the complete opposite direction and in leaked slides from their “US Economic
Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin” presentation
labeled Bitcoin and similar cryptocurrencies as “not an asset class” offering neither
cash flow or a hedge against inflation.
That would have been enough to light a fire under the crypto community but in a following
slide, they doubled down and declared bitcoin, get this, “a conduit for illegal activity,"
This led of course to a flaming on crypto twitter with mixed opinions.
Ms Bitcoin said, “Goldman Sachs saying not to buy Bitcoin
is like Exxon Mobil telling people they shouldn't buy a Tesla.”
While some were spitting fire at Goldman, others were taking a more optimistic outlook
and pointing to this as a sign that we’re still in the preliminary adoption period and
it’s not too late to be early.
Apparently Goldman Sachs is stuck back in 2016 and will not be early.
Why do you think Goldman took this stance?
Are they accumulating behind the scenes or are they just not willing to take a risk on
something they have little experience with?
We’d Love to hear your opinions so please leave a comment below and remember to like
this video and subscribe to the channel for more crypto content.
That’s all the crypto news that fits today so until next time, Hodl on!