When we gave out an overview of Bitcoin and its extreme volatility as a currency, couldn’t even think of what is really happening in the Bitcoin arena. This is a brief but necessary recap of recent events, for anyone wishing to approach the topic for the first time.
And Then There Were Three**
The matter is technical, regarding the size of the blockchain (the shared digital ledger that every Bitcoin operator contributes to and guarantees integrity and validation of transactions) and the feasibility of its management on personal and less powerful computers.
The first fork could bring to the demise of the cryptocurrency, according to some analyst; the rise of a new Bitcoin, parallel to the “classic” one, made the value of the latter soared instead, beyond 5,000 dollars.
The Name of the Gamer
Meanwhile, news have come out that the NSA knows the identity of Satoshi Nakamoto, the otherwise unidentified initial creator of Bitcoin.
The American agency didn’t share the secret, but has allegedly done an astoundingly sophisticated study of writing styles on the Net (stylometry) until it could tell the writing style of Nakamoto from anyone else’s, and associate such style to a precise person… or group. One of the hypotheses wants Nakamoto to actually be a collective effort of maybe four people.
It may seem a bit pointless to nail Nakamoto’s identity at this point, but the NSA likely thinks of “him” like a potential threat or someone to carefully watch anyway. After all, he started a potential disruption in the worldwide currency market thanks to an algorithm.
No Bitcoin, We’re Chinese
USA are not alone to look at Bitcoin with concern. China has in fact started to close exchange sites on its territory and to forbid initial coin offerings (launch of new or old cryptocurrencies with distribution of small amounts of them to whoever wants to invest).
As the forks made Bitcoin value rocket, the Chines crackdown made it fall under 4,000 dollars in a matter of days.
You can think of Bitcoin anything you prefer. But can’t deny that it’s a quite compelling antidote to boredom.