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A Newly Published Book Claims to Tell the ‘Real Story Behind Mysterious Bitcoin Creator’

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A Newly Published Book Claims to Tell the ‘Real Story Behind Mysterious Bitcoin Creator’

A Newly Published Book Claims to Tell the 'Real Story Behind Mysterious Bitcoin Creator'

During the last 13 years, a great number of individuals have claimed to be the inventor of Bitcoin, but no single person has been able to prove this to the greater crypto community. At the end of August 2019, a marketing and public relations (PR) agency published a press release that featured a man from Pakistan who claimed he invented Bitcoin. While the Pakistani Bilal Khalid provided no proof, the public relations agency’s founder recently published a book called “Finding Satoshi: The Real Story Behind Mysterious Bitcoin Creator Satoshi Nakamoto.”

Public Relations Agency’s Founder Ivy Mclemore Publishes a Book Called ‘Finding Satoshi’

Almost three years ago in August 2019, the cryptocurrency community was introduced to a man named Bilal Khalid and a PR agency called Ivy McLemore & Associates. The Pakistani Bilal Khalid is also referred to as James Caan or James Bilal Caan. At the time in 2019, Khalid released a three-part blog post on the web portal satoshinrh.com called “My Reveal.” In part one, Khalid claims to share “unknown facts about the creation of Bitcoin,” and some of the “developments” that led to his departure. Khalid’s reveal was bolstered by the PR agency Ivy McLemore & Associates as the firm tweeted about the event and contacted news teams with the information.

In part two, Khalid, who claims he invented Bitcoin, shares information about the Chaldean numerology that influenced his decisions during the purported creation of the software. Part two also reveals details about the alleged BTC Satoshi Nakamoto mined, and Khalid claims to “reveal all facts related to my 980,000 bitcoins.” In part three, Khalid reveals his true identity and he explains that all the coins he mined were on one computer. Allegedly, Khalid’s computer was a Fujitsu laptop that had “military-grade encryption.”

An account of the story published in November 2019 says that one evening, the self-proclaimed Bitcoin inventor says he turned on the Fujitsu laptop that ostensibly contained 980K BTC, and all it would show was a blank screen. He didn’t think it was a hard drive issue so he decided to send the laptop to a repair center to get fixed, and he also left specific instructions that said: “Don’t touch the hard drive.” The repair firm explained to Khalid that the hard drive was the issue and that the hardware was “totally dead.”

A Newly Published Book Claims to Tell the 'Real Story Behind Mysterious Bitcoin Creator'
“Finding Satoshi: The Real Story Behind Mysterious Bitcoin Creator Satoshi Nakamoto” written by Ivy McLemore was released in June 2022.

Following the press releases and tweets published by Ivy McLemore, the aforementioned account of the story published in November 2019 was the public relations agency’s last tweet up until June 1, 2022. The tweet’s subject Ivy McLemore published this year has to do with sports, and has nothing to do with Khalid’s story. However, this month Ivy McLemore, the founder of the marketing and public relations agency, published a book called “Finding Satoshi: The Real Story Behind Mysterious Bitcoin Creator Satoshi Nakamoto.” The book’s Amazon description does not mention Khalid by name but states:

The book gives readers the unique opportunity to join a reporter on the search of a lifetime for the creator of the world’s best-performing investment. It looks at 40 candidates and leads to a little-known, under-the-radar suspect with stunning, previously untold secrets only Bitcoin’s creator could know.

Book Description Claims ‘Finding Satoshi’ Gives Readers 42 Specific Points to Ponder

According to the Amazon book description, readers will learn “why he left encryptions in names, dates, and other Bitcoin milestones,” and “his ethnic background and country of residence.” The book description further claims to detail “why his bitcoins once worth $68 billion haven’t moved” and “why he waited eight years to tell his wife he’s Satoshi.” Ivy McLemore’s story says “Nakamoto is invaluable to society because of the specialized knowledge he could share with future generations.” The “Finding Satoshi” book description adds:

Regardless what you believe about Satoshi’s real-life identity, Finding Satoshi gives readers 42 specific points to ponder.

Over the years, there’s been many claimants that have said they are Satoshi Nakamoto, but in more recent times claims like these have subsided. Prior to 2020, individuals like the Hawaiian Nakamoto, Phil Wilson ‘Scronty,’ Debo Jurgen Etienne Guido, and Jörg Molt have all claimed to be Bitcoin’s inventor. No one has heard from the Hawaiian Nakamoto, both Scronty and Debo continued to tweet about Bitcoin’s origins, and Jörg Molt was recently arrested for an alleged crypto pension fraud. Moreover, until recently, most of the crypto community forgot about Khalid’s story, after he was unable to provide any legitimate proof backing his claims.

What do you think about Ivy McLemore’s book called “Finding Satoshi” and public relations agency that claimed Bilal Khalid was Bitcoin’s Inventor? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Amazon, Shutterstock photograph via Szabolcs Magyar

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Record Investment Outflows of $423 Million Led to Crypto Bloodbath

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Record Investment Outflows of $423 Million Led to Crypto Bloodbath

Last week saw record outflows of $423 million from crypto assets, according to CoinShares.

The report found that the outflows last weekend were likely responsible for bitcoin’s decline to $17,760. Analyst James Butterfill said: “The outflows were solely focussed on bitcoin, which saw net outflows for the week totaling US$453m.”

BTC outflows bring down institutional investments 

Therefore, if bitcoin is removed from the calculations, Ethereum contributed an inflow of around $11 million while other alts also added minor positive flows, aggregating inflows to the extent of $70 million. 

This was Ethereum’s first inflow after 11 consecutive negative sessions according to CoinShares.

In the past week, the BTC market has slid under the $20,000 level twice. Short-bitcoin saw inflows of $15 million due to the launch of the first U.S.-based short investment product in the week in question, the report noted.

[1/5] This week’s Digital Asset Fund Flows Report is now available! Written by @jbutterfill, the headline for this week is: Record US$423m outflows last week while Short-Bitcoin saw inflows of US$15m. Read on for the highlights -> pic.twitter.com/eIalnFhacv

— CoinShares 👩‍🚀 (@CoinSharesCo) June 27, 2022

Benefits of a crypto bear market

Similar wide margins were last seen in the previous negative peak, in terms of outflows, in Jan at $198 million.

However, in relative terms, Butterfill remarked that the week did not witness the largest negative flows against total assets under management (AuM). 

“This record occurred during the bear market in Feb 2018 where outflows representing 1.6% of AuM were witnessed, while the outflows last week were the third largest on record, representing 1.2% of AuM,” the report noted.

According to FTX CEO Sam Bankman-Fried, the Federal Reserve’s decision to aggressively increase interest rates was the main reason behind the market crash.

But despite the bearish sentiments, some crypto bosses are optimistic about the results of a market downturn. Charlie Silver, founder of Permission.io told Insider: ” There are hundreds of firms that are built on hype and not substance. It will be good for the industry to have them go away.”

“Bear markets are healthy because it resets valuations to reality and flushes out the bad actors. There are many cryptos that are true Ponzi schemes, that pay investors only with new investor money. When the new money dries up the project falls apart,” Silver added.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Uzbekistan warms up to Bitcoin mining, but there’s a catch

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Uzbekistan warms up to Bitcoin mining, but there’s a catch

The executive order spares all the mined assets from taxation and bans mining anonymous currencies.

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Uzbekistan warms up to Bitcoin mining, but there’s a catch

The National Agency of Prospective Projects (NAPP) in Uzbekistan announced its demands toward crypto mining operators. It would only allow the companies that use solar energy to mine Bitcoin (BTC) or other cryptocurrencies. 

The normative act on the government page, dated June 24, describes the confirmation of “Guidelines on the registration of the crypto assets mining,” and sets the finalization date on July 9. The second article of the document offers an uncompromising wording:

“Mining is being carried out only by the legal entity with the use of electric energy, provided by a solar photovoltaic power plant.”

As a further complication, the miners should own the solar photovoltaic power plant that they will use for energy.

The executive order also obliges any mining operator to obtain a certificate and register in the national registry of crypto mining companies. This procedure demands a brief list of documents, and should take no more than 20 days from submitting to the final decision to the licensing body. The certificates would be valid for one year after the registration.

Related: Go green or die? Bitcoin miners aim for carbon neutrality by mining near data centers

All the currency generated from mining activities would be spared taxation, though the mining farms would face the special tariffs on the consumed energy set by the Uzbekistan government. But, the trade operations with mined assets would have to be conducted only on the exchange platforms that are registered in Uzbekistan. The mining of anonymous cryptocurrencies would be prohibited.

In April 2022, the freshly-restructured NAPP became Uzbekistan’s exclusive crypto regulator with the mission to adopt a special crypto regulation regime in the country. This move came in a row of initiatives launched by the Uzbekistan President Shavkat Mirziyoyev to provide the regulatory framework for crypto. In September 2018, Mirziyoyev signed a law prohibiting local firms from launching their crypto exchanges in Uzbekistan. The law only offered legal status to crypto exchanges established by foreign legal entities.

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Celsius denies allegations on Alex Mashinsky trying to flee US

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Celsius denies allegations on Alex Mashinsky trying to flee US

Celsius CEO Alex Mashinsky wasn’t trying to leave the U.S. last week but has continued to work on recovering liquidity and operations, the company has claimed.

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Celsius denies allegations on Alex Mashinsky trying to flee US

Troubled crypto lending firm Celsius is putting their best foot forward to recover operations alongside CEO Alex Mashinsky, who currently stays in the United States, the company has claimed.

A spokesperson for Celsius has denied rumors that the company’s CEO tried to flee the U.S. last week amid the ongoing liquidity crisis of the Celsius Network.

The representative told Cointelegraph on Monday that the firm continues working on restoring liquidity, stating:

“All Celsius employees — including our CEO — are focused and hard at work in an effort to stabilize liquidity and operations. To that end, any reports that the Celsius CEO has attempted to leave the U.S. are false.”

Celsius’ statement came shortly after Mike Alfred, co-founder of the crypto analytics firm Digital Assets Data, took to Twitter on Sunday to claim that Mashinsky attempted to leave the country last week via Morristown Airport in New Jersey.

Citing an anonymous source, Alfred alleged that Celsius’s CEO was trying to go to Israel. “Unclear at this moment whether he was arrested or simply barred from leaving,” he added.

Alfred’s claims followed a massive GameStop-like “short squeeze” of Celsius, with Celsius’ native token Celsius (CEL) jumping 300% in one week by June 21. CEL price also abruptly rallied more than 600% on June 14, with analysts attributing the event to an exchange glitch or liquidation of short traders.

At the time of writing, CEL is trading at $0.741, down around 5% over the past 24 hours, according to CoinGecko. Celsius’ native token is still up more than 160% over the past 14 days.

Celsius Network token (CEL) 30-day price chart. Source: CoinGecko

Some industry observers in the crypto community have expressed skepticism about Alfred’s tweets about Mashinsky, with many considering his allegations as FUD.

If @Mashinsky attempted to leave the country this week, why are you reporting it now exactly when the CEL price is going down? Seems very coincidental Mike Alfud. And why no mainstream media or crypto media is reporting this? #CelShortSqueeze https://t.co/ynJbzWib9o

— Otis — #CelShortSqueeze ©️ ⚡️ (@otisa502) June 27, 2022

As previously reported by Cointelegraph, Celsius officially announced that it would be “pausing all withdrawals, swaps and transfers between accounts” on June 13. United States regulators subsequently started an investigation into Celsius as multiple accounts on the network were frozen.

Related: South Korean prosecutors ban Terraform Labs employees from exiting the country: Report

According to some analysts, Celsius’ liquidity issues should be attributed to shortcomings of the existing crypto lending model in general, as other lenders in the market have faced similar problems recently.

Celsius has been working hard to fix the consequences of the platform’s liquidity crisis, reportedly onboarding advisers and restructuring consultants to help the platform handle potential filing for bankruptcy. On June 18, Celsius’ lead investor BnkToTheFuture and its co-founder Simon Dixon offered to assist the network by deploying a recovery plan.

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