This is what Satoshi Nakamoto has warned about in the past years: “crypto” as we know ends. However, don’t shed a single tear for it. Now we enter a true information economy and Satoshi is alive and with us in this transformation.
Craig Wright screamed from the roof
There has been controversy over who Satoshi is, but nowadays it only takes two or three brain cells to process the fact that Dr. Craig Wright is Satoshi Nakamoto:
But this is already old news. Let’s see what the inventor of Bitcoin has published in the past years, while hardly anyone wanted to listen, and how it turned out now.
In a 2018 article published in Medium titled “Bitcoin is a commodity,” Dr. Wright explained that the original Bitcoin is not a currency and not a security. It is a commodity:
Bitcoin is not legal tender. It is not intended to be a means of payment that must be accepted within a territory, nor will it be. The result is that Bitcoin is either commodity money or pure Ponzi.
In 2022, SEC’s Gary Gensler claims that Bitcoin is a commodity. The prediction became a reality. What about other digital assets, though? In a 2018 article titled “Crowdfunding and ICOs”, Dr. Craig Wright said this:
Below are some notes on ICOs (all are titles) that can serve as a set of things to consider.
Wait, are all ICOs securities? In 2018, no one wanted to hear him. But today, in 2022, the SEC is investigating Coinbase claims that unregistered securities have been offered on their cryptocurrency exchange. It is safe to assume that so-called “cryptocurrency exchanges” will have a lot of trouble for what they have done to inexperienced investors in recent years.
Satoshi Nakamoto is still cleaning up the cryptocurrency chaos
You better not think that Satoshi is done with “cryptocurrency” yet. He is working tirelessly to educate the world about various misconceptions in the sphere of digital assets that stifle economic growth.
For example, Dr. Craig Wright pointed out that stolen and lost Bitcoins can be recovered and returned to their rightful owners. Ask yourself what this means for some digital currency exchanges and digital currency services.
Dr. Craig Wright wrote about the Bitcoin warning key in his “Ledgers and Design” article in 2020:
When I implemented the warning key in Bitcoin, I created a mechanism that allowed people to simply report stolen bitcoins and other crime proceeds. It has greatly improved Bitcoin’s ability to act within a legal framework and protect the users of the system. At this time, the removal of the warning key mechanism has increased the difficulty and amount of searches required by people to find tainted bitcoin.
That warning key system has been removed in BTC. Furthermore, BTC has been modified by developers and actors with no legal right to do so, as Bitcoin is bound by contract. The original Bitcoin, invented by Dr. Craig Wright under his pseudonym of Satoshi Nakamoto, is Bitcoin SV, the current BSV ticker symbol, also called the BSV blockchain.
For what has happened to Bitcoin in recent years through protocol changes and public deception, Dr. Craig Wright is suing Coinbase and Kraken for peddling BTC as Bitcoin. What do you think: Will Satoshi be right again?
The inventor of Bitcoin is the worst nightmare of cryptocurrencies
All of the above is to be understood as the start of a delayed remediation. The entire “crypto” space is filled with money launderers, illegal financial services and liars. Regulators and law enforcement are in place, and so is Satoshi.
Dr. Craig Wright recently published an article titled “Forensic Profiling of ‘Cryptocurrency’ Criminals”. In that document, Satoshi concludes:
(…) The concept of financial fraud, including Ponzi schemes, is analyzed with respect to the types of individuals who act with this deception. (…). Finally, it is noted that there must be ambivalence towards regulators or law enforcement agencies. Regulators either fail to act out of ignorance of the problem or out of fear of taking action and disrupting a new industry.
Additionally, in another publication on the topic of “socially aberrant behavior in social media and financial systems” Dr. Craig Wright states:
The following document provides a preliminary investigation into the growth of the subgroups of “Cryptocurrency”, the abuse of social media using automated systems, the enhancement of trolling and the ability of these activities to pose both a political and financial threat. Malicious actors have used technology to exploit existing psychological behaviors and create tribal responses that enable the automated approach to controlling and manipulating individuals online.
Okay, to make it clear to everyone involved in the so-called cryptocurrency financial services industry: Satoshi Nakamoto is proactively assisting law enforcement and regulators around the world to hunt you down.
New to Bitcoin? Check out CoinGeek Bitcoin for beginners section, the ultimate resource guide to learn more about Bitcoin, as originally intended by Satoshi Nakamoto, and blockchain.