We are witnessing a disaster unfolding in the so-called “crypto space.” Exchanges such as Coinbase (NASDAQ: COIN) and Kraken are under tremendous regulatory pressure, and the CEO of Binance is suing Bloomberg for alleged defamation. Blockchain developers hide to avoid liability.
It is what Satoshi Nakamoto has warned of in the past years: “crypto” as we know it ends. However, do not shed a single tear for that. We now enter a true information economy, and Satoshi is alive and with us in this transformation.
Craig Wright has been yelling from the rooftop
There have been controversies about who Satoshi is, but nowadays, one only needs two or three brain cells to process the fact that Dr. Craig Wright is Satoshi Nakamoto:
- Craig Wright 2014 vs Craig Wright 2022
- How Bitcoin was saved
- Outcome of the Kleiman vs Wright court case
But this is old news already. Let us see what the inventor of Bitcoin has been publishing in the past years, while almost nobody wanted to listen, and how it all turned out now.
In an article from 2018 posted on 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 decreed to be a means of payment that must be accepted within a territory, and nor shall it be. The result is that Bitcoin is either commodity money or a pure Ponzi.
In 2022, SEC’s Gary Gensler states that Bitcoin is a commodity. Prediction became a reality. What about the other digital assets, though? In an article from 2018 titled “Crowdfunding and ICOs,” Dr. Craig Wright said this:
The following are some notes on ICOs (all are securities) that can act as a set of things to consider.
Wait, all ICOs are securities? Back in 2018, nobody wanted to listen to that. But today, in 2022, the SEC is probing Coinbase on claims that unregistered securities were offered on their cryptocurrency exchange. It is safe to assume that so-called “cryptocurrency exchanges” will be in a lot of trouble for what they have done to inexperienced investors in the past years.
Satoshi Nakamoto is still cleaning up the crypto chaos
You better not think Satoshi is done with “crypto” yet. He is working relentlessly to educate the world on various misconceptions in the digital asset sphere that stifle economic growth.
For example, Dr. Craig Wright pointed out that stolen and lost Bitcoins can be recovered and brought back to their rightful owners. Ask yourself what that means for certain digital currency exchanges and digital currency services.
Dr. Craig Wright wrote about the Bitcoin alert key in his article “Ledgers and Design” in 2020:
When I implemented the alert key into Bitcoin, I created a mechanism that allowed people to simply report stolen bitcoin, and other proceeds of crime. It greatly enhanced the ability of Bitcoin to act within a legal framework and protect the users of the system. Right now, the removal of the mechanism of the alert key has increased the difficulty and amount of research required by individuals to find tainted bitcoin.
That alert key system has been removed in BTC. Furthermore, BTC has been changed by developers and actors with no legal right to do so, as Bitcoin is bound under contract. The original Bitcoin, as invented by Dr. Craig Wright under his pseudonym Satoshi Nakamoto is Bitcoin SV, current ticker symbol BSV—also called the BSV blockchain.
For what happened to Bitcoin over the past few years through protocol changes and deception of the public opinion, Dr. Craig Wright is suing Coinbase and Kraken for passing off BTC as Bitcoin. What do you think: will Satoshi be right again?
The inventor of Bitcoin is crypto’s worst nightmare
Everything mentioned above is to be understood as the beginning of an overdue clean-up. The whole ‘crypto’ space is full of money launderers, illegal financial services, and liars. Regulators and law enforcement are on it, and Satoshi is too.
Dr. Craig Wright recently published a paper titled “Forensic Profiling of ‘Cryptocurrency’ Criminals.” In that paper, Satoshi concludes:
(…) the concept of financial fraud, including Ponzi schemes, is analysed against the types of individuals acting in this deception. (…). Finally, it is noted that ambivalence must exist with regard to either regulators or law enforcement. The regulators either fail to act because of ignorance of the problem or fear of acting and disrupting a novel industry.
Furthermore, in another publication on the topic of “socially abhorrent behaviours in social media and financial systems” Dr. Craig Wright states:
The following paper provides a preliminary investigation into the growth of “Cryptocurrency” subgroups, the abuse of social media using automated systems, the enhancement of trolling and the ability for these activities to pose both a political and financial threat. Malicious actors have utilised technology to leverage existing psychological behaviours and create tribalistic responses that allow for the automated approach to controlling and manipulating individuals online.
Alright, to make it crystal clear for everyone involved in the so-called cryptocurrency financial services industry: Satoshi Nakamoto is proactively assisting law enforcement and regulators worldwide to go after you.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.