Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
How to Capitalise on the Robots - 20th June 24
Bitcoin, Gold, and Copper Paint a Coherent Picture - 20th June 24
Why a Dow Stock Market Peak Will Boost Silver - 20th June 24
QI Group: Leading With Integrity and Impactful Initiatives - 20th June 24
Tesla Robo Taxis are Coming THIS YEAR! - 16th June 24
Will NVDA Crash the Market? - 16th June 24
Inflation Is Dead! Or Is It? - 16th June 24
Investors Are Forever Blowing Bubbles - 16th June 24
Stock Market Investor Sentiment - 8th June 24
S&P 494 Stocks Then & Now - 8th June 24
As Stocks Bears Begin To Hibernate, It's Now Time To Worry About A Bear Market - 8th June 24
Gold, Silver and Crypto | How Charts Look Before US Dollar Meltdown - 8th June 24
Gold & Silver Get Slammed on Positive Economic Reports - 8th June 24
Gold Summer Doldrums - 8th June 24
S&P USD Correction - 7th June 24
Israel's Smoke and Mirrors Fake War on Gaza - 7th June 24
US Banking Crisis 2024 That No One Is Paying Attention To - 7th June 24
The Fed Leads and the Market Follows? It's a Big Fat MYTH - 7th June 24
How Much Gold Is There In the World? - 7th June 24
Is There a Financial Crisis Bubbling Under the Surface? - 7th June 24
Bitcoin Trend Forecast, Crypto's Exit Strategy - 31st May 24
Zimbabwe Officials Already Looking to Inflate New Gold-Backed Currency - 31st May 24
India Silver Imports Have Already Topped 2023 Total - 31st May 24
Gold Has Done Its Job – Isn’t That Enough? - 31st May 24
Gold Stocks Catching Up - 31st May 24
Time to take the RED Pill - 28th May 24
US Economy Slowing Slipping into Recession, But Not There Yet - 28th May 24
Gold vs. Silver – Very Important Medium-term Signal - 28th May 24
Is Gold Price Heading to $2,275 - 2,280? - 28th May 24
Stocks Bull Market Smoking Gun - 25th May 24
Congress Moves against Totalitarian Central Bank Digital Currency Schemes - 25th May 24
Government Tinkering With Prices Is Like Hiding All of the Street Signs - 25th May 24
Gold Mid Tier Mining Stocks Fundamentals - 25th May 24
Why US Interest Rates are a Nothing Burger - 24th May 24
Big Banks Are Pressuring The Fed To Losen Protection For Depositors - 24th May 24
Another Bank Failure: How to Tell if Your Bank is At Risk - 24th May 24
AI Stocks Portfolio and Tesla - 23rd May 24
All That Glitters Isn't Gold: Silver Has Outperformed Gold During This Gold Bull Run - 23rd May 24
Gold and Silver Expose Stock Market’s Phony Gains - 23rd May 24
S&P 500 Cyclical Relative Performance: Stocks Nearing Fully Valued - 23rd May 24
Nvidia NVDA Stock Earnings Rumble After Hours - 22nd May 24
Stock Market Trend Forecasts for 2024 and 2025 - 21st May 24
Silver Price Forecast: Trumpeting the Jubilee | Sovereign Debt Defaults - 21st May 24
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! - 19th May 24
Important Economic And Geopolitical Questions And Their Answers! - 19th May 24
Pakistan UN Ambassador Grows Some Balls Accuses Israel of Being Like Nazi Germany - 19th May 24
Could We See $27,000 Gold? - 19th May 24
Gold Mining Stocks Fundamentals - 19th May 24
The Gold and Silver Ship Will Set Sail! - 19th May 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

The Bitcoin Drama Continues: Craig Wright Disappears and Andresen Says He Was Bamboozled

Currencies / Bitcoin May 06, 2016 - 11:12 AM GMT

By: Jeff_Berwick


Yesterday we wrote about our doubts on Craig Wright and who he is.  Less than 24 hours later he has disappeared.

You can say one thing about bitcoin: it's never boring!  Tracking developments surrounding it is more entertaining than a spy novel.

But, whatever Craig Wright may have had in mind doing with Gavin Andresen seems to have collapsed. Andresen had solidly endorsed Wright’s claim about being Satoshi Nakamoto only yesterday and seemed delighted that his mentor had decided to “go public.”

As there are obviously tensions between Andresen and others at the Bitcoin Foundation, the arrival of Nakamoto as a public figure surely would have enhanced Andresen’s professional position, which is one reason he may have been eager to establish Wright’s bona fides.

But it was not to be and, if that was the plan, it has backfired and Andresen looks stupid.

Just today, Wright wrote a note on his Facebook page explaining that he could not continue to promote himself as Satoshi Nakamoto.

He doesn’t seem to have abandoned the claim that he is Nakamoto, even though many in the bitcoin community looked on this with suspicion (though not as much as they claim in hindsight). He simply writes he does not have the courage to continue and can't go through with supplying actual verifiable proof (by making a trade of the genesis block) that he is.

Given Wright’s dramatic personality and affection for the limelight, it’s certainly a surprising sentiment to share, along with the words “And goodbye” at the end of his note. Hopefully his "goodbye" was simply a farewell and nothing more permanent... Or perhaps it was related to news that the UK "authorities" (aka the largest criminal gang in the geographic region known as England) were looking for him.  The plot thickens.

Andresen is now backing off previous statements that Wright is Nakamoto. “Maybe it’s possible I was bamboozled,” he said to Wired, which posted the news about Wright’s note.

Stepping back a bit, nothing much has really changed. Nobody has come forward and proven they are Nakamoto, leaving the same speculations in place that I made in my article about bitcoin, Andresen and Wright. Perhaps Nakamoto exists or perhaps he does not.

I’m certainly willing to entertain the notion that Nakamoto was a group. And even that bitcoin was invented as a precursor to banking systems that are now being planned. In other words, there could have been an "intelligence" element to it.

There are at least two major bank initiatives - one in the US and one in England - that are trying to use bitcoin style technology to create proprietary networks that will speed up transactions but dispense with anonymity.  I would not be at all surprised if a segment of bitcoin programming leadership, including Andresen, attempted to explore methods whereby bitcoin could benefit from these efforts, and vice-versa.

Bitcoin doesn’t need to do so, as I have already explained, and I would be disappointed if it did. It’s an independent and healthy currency that can and should continue to function on its own. And despite Andresen’s predictions of doom, I don’t believe bitcoin will do anything but prosper and expand in the near future (click here to see one reason bitcoin might skyrocket by this summer).

However, it’s also true in my opinion, that there are forces at work trying to destabilize bitcoin and make it less attractive and viable.  And maybe this was part of it... to discredit those involved at high levels in bitcoin.  Who knows?

Just two days ago I was offered an opportunity to meet with Wright in London.  I was very hesitant, given my CIA-connected suspicions on Wright... not that I was scared to possibly meet with a person who might be tied into them or being used by them... but I just don't like to be around anything that appears to be in any way associated with spooks.  In any case, given Wright has now disappeared I don't need to worry about that.

But, I intend to continue to report on those efforts as they occur. Despite Wright’s decision to end his attempt at convincing the world that he is Nakamoto, there is evidently a much larger story that will continue to unfold.

If you haven't already subscribed to The Dollar Vigilante newsletter (see more here), which is the fastest growing financial newsletter in the world, take the opportunity to do so now.  We cover cryptocurrencies, precious metals, mining stocks and other ways to profit, and protect yourself from, the move towards globalization... and we've made our subscribers fortunes in the process.

In the meantime, the bizarre (and ultimately unimportant) search for Satoshi Nakamoto continues... and as I pointed out to Stuart Varney, on Fox Business, when they had me on to discuss how bitcoin had "crashed" when it was at $90 (now $450), ultimately it doesn't matter who created bitcoin.

He told me his concern with bitcoin is "we don't know who runs it", and I replied, "That's the same with the Federal Reserve," and he said that's nonsense... so I asked him who owns the Federal Reserve and... well, see his reply here:

They then cut off my microphone when I mentioned the illuminati all-seeing-eye pyramid on the back of the $1 bill and I haven't been invited back on since.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2016 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2022 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in