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Thread: Satoshi Nakamoto Holds Press Conference -- He is Aussie Entrepreneur Craig Wright

  1. #1

    Satoshi Nakamoto Holds Press Conference -- He is Aussie Entrepreneur Craig Wright

    Craig Wright revealed as Bitcoin creator Satoshi Nakamoto


    Australian entrepreneur Craig Wright says he is Mr Bitcoin

    Australian entrepreneur Craig Wright has publicly identified himself as Bitcoin creator Satoshi Nakamoto.

    His admission follows years of speculation about who came up with the original ideas underlying the digital cash system.

    Mr Wright has provided technical proof to back up his claim using coins known to be owned by Bitcoin's creator.

    Prominent members of the Bitcoin community and its core development team say they have confirmed his claims.

    But many others in the Bitcoin world are asking for more proof.

    Mr Wright has revealed his identity to three media organisations - the BBC, the Economist and GQ.

    At the meeting with the BBC, Mr Wright digitally signed messages using cryptographic keys created during the early days of Bitcoin's development. The keys are inextricably linked to blocks of bitcoins known to have been created or "mined" by Satoshi Nakamoto.

    "These are the blocks used to send 10 bitcoins to Hal Finney in January [2009] as the first bitcoin transaction," said Mr. Wright during his demonstration.

    Renowned cryptographer Hal Finney was one of the engineers who helped turn Mr. Wright's ideas into the Bitcoin protocol, he said.

    "I was the main part of it, but other people helped me," he said.

    Soon after Mr Wright went public, Gavin Andresen, chief scientist at the Bitcoin Foundation, published a blog backing his claim.

    "I believe Craig Steven Wright is the person who invented Bitcoin," he wrote.

    Jon Matonis, an economist and one of the founding directors of the Bitcoin Foundation, said he was convinced that Mr. Wright was who he claimed to be.

    "During the London proof sessions, I had the opportunity to review the relevant data along three distinct lines: cryptographic, social, and technical," he said.

    "It is my firm belief that Craig Wright satisfies all three categories."

    Mr. Wright said he planned to release information that would allow others to cryptographically verify that he is Satoshi Nakamoto.

    Not everyone has been convinced by Mr Wright's claims and the technical proof he put in his blog. Some cryptographers and developers who worked through the information provided said they had trouble getting verifiable information out of it.

    Security expert Dan Kaminsky said the procedure was almost "maliciously resistant" to validation.

    Many people have called on Mr. Wright to go further in proving his identify.


    How Bitcoin works

    Bitcoin is often referred to as a new kind of currency.

    But it may be best to think of its units being virtual tokens rather than physical coins or notes.

    However, like all currencies its value is determined by how much people are willing to exchange it for.

    To process Bitcoin transactions, a procedure called "mining" must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution.

    For each problem solved, one block of Bitcoins is processed. In addition the miner is rewarded with new Bitcoins.

    This provides an incentive for people to provide computer processing power to solve the problems.

    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.

    There are currently about 15 million Bitcoins in existence.

    To receive a Bitcoin, a user must have a Bitcoin address - a string of 27-34 letters and numbers - which acts as a kind of virtual post-box to and from which the Bitcoins are sent.

    Since there is no registry of these addresses, people can use them to protect their anonymity when making a transaction.

    These addresses are in turn stored in Bitcoin wallets, which are used to manage savings.

    They operate like privately run bank accounts - with the proviso that if the data is lost, so are the Bitcoins owned.


    'I want to work'

    By going public, Mr Wright hopes to put an end to press speculation about the identity of Satoshi Nakamoto. The New Yorker, Fast Company, Newsweek and many other media organisations have all conducted long investigations seeking Bitcoin's creator and named many different people as candidates.

    In December 2015, two magazines, Wired and Gizmodo, named Mr Wright as a candidate after receiving documents believed to be stolen from him that revealed his involvement with the project.

    Soon after these stories were published, authorities in Australia raided the home of Mr. Wright. The Australian Taxation Office said the raid was linked to a long-running investigation into tax payments rather than Bitcoin.

    Questioned about this raid, Mr. Wright said he was cooperating fully with the ATO.

    "We have lawyers negotiating with them over how much I have to pay," he said.

    The stories in December have led to many more journalists and others pursuing him and people he knows, he said.

    "There are lots of stories out there that have been made up and I don't like it hurting those people I care about," he said. "I don't want any of them to be impacted by this."

    "I have not done this because it is what I wanted. It's not because of my choice," he said, adding that he had no plans to become the figurehead for bitcoins.

    "I really do not want to be the public face of anything," he said, expressing regret that he had been forced to reveal his identity.

    "I would rather not do it," he said. "I want to work, I want to keep doing what I want to do. I don't want money. I don't want fame. I don't want adoration. I just want to be left alone."

    Bitcoins are now accepted as payment for a vast variety of goods and services - everything from international money transfers to ransoms for data encrypted by computer viruses. There are currently about 15.5 million bitcoins in circulation. Each one is worth about $449 (£306).

    Satoshi Nakamoto is believed to have amassed about one million Bitcoins which would give him a net worth, if all were converted to cash, of about $450m.



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  3. #2
    He doesn't want the attention, so why did he claim something he knows would, without real proof? Show the keys?

  4. #3

  5. #4
    I don't have time to look at this today, but this article gives more information:

    http://www.economist.com/news/briefi...kamoto-bitcoin

    If Mr Wright can prove that he is in possession of the private key corresponding to the bitcoin address of the miner of block 9, this is strong evidence that he is indeed Mr Nakamoto. His case would be stronger if he performed the same cryptographic trick with keys linked to earlier blocks, which must have been mined by the founder—or, even better, moved some of the bitcoins which were awarded when validating these blocks.

    In his blog post Mr Wright says that he does indeed control the key for block 9 and gives a step-by-step explanation of how this can be proven. He claims to have signed a text (the 1964 speech in which Jean-Paul Sartre explains his refusal to accept the Nobel prize for literature) with this private key, which produces a unique identifier known as a digital signature. He has published this on his website along with a detailed explanation of how to verify that he is indeed in possession of the private key. In a nutshell, the data he has provided can be fed into software, which then says whether all the parts of this puzzle fit together.

    Mr Wright has also demonstrated this verification in person to The Economist—and not just for block 9, but block 1. Such demonstrations can be stage-managed; and information that allows us to go through the verification process independently was provided too late for us to do so fully. Still, as far as we can tell he indeed seems to be in possession of the keys, at least for block 9. This assessment is shared by two bitcoin insiders who have sat through the same demonstration: Jon Matonis, a bitcoin consultant and former director of the Bitcoin Foundation, and Gavin Andresen, Mr Nakamoto’s successor as the lead developer of the cryptocurrency’s software (he has since passed on the baton, but is still contributing to the code).

  6. #5
    also
    https://www.wired.com/2016/05/craig-...coins-creator/
    The Private ‘Proof’
    As Andresen tells it, a firm representing Wright contacted him in March and invited him to London for a private, in-person demonstration designed to prove Wright created Bitcoin. Andresen understandably expressed reluctance. WIRED and Gizmodo had named Wright in December as a Satoshi Nakamoto candidate based on leaked emails, accounting documents and transcripts. But then gaps in Wright’s story appeared following those reports—including signs he had backdated evidence and misrepresented academic credentials—it seemed Wright was likely pulling an elaborate hoax or con.

    But Wright followed up with a series of emails that piqued Andresen’s interest. “This is a person who knows an awful lot about Bitcoin and an awful lot about early Bitcoin stuff,” Andresen says. “The email conversations I had [with him] sounded like Satoshi to me. It sounded like I was talking to the same person I’d worked with way back when. That convinced me to get on an airplane.”
    ...
    ...

  7. #6
    I think thetiming of this drama plus consensus 2016 + the halving event soon+ price in a pattern about to break out is a highly suspect coincidence.

    I think price will pop up in a huge way! Perhaps some BIG news from COnsensus o cause a break out or something.

    Bitcoin has got a lot of attention today, and it would be unfortunate for *price* not to capitalize on the 'seemingly' public euphoria

    2 cents
    interesting



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