Demystifying the enigma of Bitcoin is quite a conundrum, it has been a foregoing accepted notion that “Dorian Prentice Satoshi Nakamoto,” was the pioneer of the algorithm’s debut. However, the supposed founder denies and explicitly dissociates himself from having any affiliations with the digital currency. This unweaves a bigger puzzle to the ambiguous nature of the world’s most popular digital currency’s inception.
Newsweek recently published a 4,500-word cover story lauding Nakamoto as the computer-code brainchild for Bitcoin’s underpinning; in an exclusive interview with the Associated Press, Nakamoto, 64, denied such merits of credulity and rejected all accolades of success. Nakamoto acknowledged the accuracy of some aspects of the story; conversely rejecting the Newsweek assertion of him being the mastermind.
Newsweek is adamant and remain obstinate about their story, regardless of Nakatomo’s monotonous denials. Since the advent of Bitcoin in 2009, the cypto-currency creator or creators remained incognito; being pervasively known as “Satoshi Nakamoto,” which many believe to be a pseudonym. Unravelling a mystery to discover another mystery; you can equate to an atom, then discovering protons and neurons and in later years the higgs boson. A vague quandary of enthusiasm, eager to solve.
Bitcoin is the world’s first decentralized financial architecture, a digital currency exchange unlike fiat currency, because its requirements are contingent on technology and internet connectivity for transactions. Its surge of popularity amongst tech enthusiasts, investors and the illicit underworld, has spawned a myriad of transactions. Such as; goods and services, financial exchange without government interjection, no bank involvement, credit card issuers or any other third parties.
The recent fluctuation of the decentralized currency were due to speculative investors seeing its conspicuous potentiality. The stock value surged to $1,200, a preponderance of invaluable worth to the mysterious creator. Bitcoin is analogous to fiat-currency and its exponential growth and lack of transparency has become a major business alternative on the black-market.
Bitcoin’s brevity has been tarnished by a streak of tandems; from the indictment of Ross Ulbricht, the owner of Silkyroad, the largest online black-market; Bitcoin exchange CEO, arrested for money laundering, and the implosion of Mt. Gox, a Bitcoin exchange based in Tokyo, Japan. The latter is a company that served as an intermediary for over 70% of cypto-currency transactions.
The history behind Bitcoin has become vaguely inexplicable, an explicit loophole I’m surprised conspiracy theorists haven’t capitalized on yet. Who knows; maybe a tyrannical government created Bitcoin as a linear approach to curbing their despotic agendas. The correlation between the chained indictments doesn’t faze inadvertently. Looking at things from that perspective somehow patches the conundrum together. But then again, I’m just being anecdotal.