Satoshi Nakamoto is the mysterious computer programmer who invented bitcoin and drafted its “white paper” which describes how it works, why it exists, its ideology of anonymity, decentralized finance (de-fi), and other Libertarian tax-avoidance philosophy. There is also a lot of techno-babble on “blockchain” in the bitcoin white paper, which now has become much clearer.
The New York Times just published an investigation that identifies Satoshi Nakamoto as British cryptographer Adam Back, the owner of Blockstream, a very overvalued blockchain tech company headquartered in Victoria, British Columbia, Canada, with offices & staff worldwide. Blockchain is a generic crypto industry term for the computer technology that stores & transfers crypto. Coincidentally, Adam Back owns the tech term for bitcoin storage as his company name, Blockchain. We now see more precisely how bitcoin works, when we know who started it.
Of course, Adam Back denies the New York Times‘ claim he is Satoshi Nakamoto, yet in his denials he explains why he is Satoshi Nakamoto, so this is all a game of hide-and-seek with the truth for him. The NYT investigation used their best human investigators, combined with AI analysis of writing style among other factors to conclude with 99.5-100% certainty that Satoshi Nakamoto is Adam Back.
As a believer in science, technology & rational though, I accept the NYT on this, and see Adam Back’s response as an attempt to explain & justify his motives as Satoshi Nakamoto while boosting the value of his creation. The global crypto market is currently ~ $2.4T, and it was created by Adam Back, CEO of Blockchain. This is the biggest whale in bitcoin.
Do you see how much crypto murkiness gets removed when the public can know it is a fact that Adam Back is Satoshi Nakamoto? The mysteriousness of Satoshi Nakamoto lent mythical legitimacy to bitcoin from the start. The entire crypto industry began with bitcoin, which was concocted out of the ruins of the sub-prime mortgage crash of 2008. Bitcoin quickly became the newest form of malignancy in capitalist finance & economic theory.
As soon as that first pizza place agreed to take a few bitcoin for a delivery order, crypto has been legitimized & hyped. At first it was a bunch of Libertarian tax cheats who knew computer code, but it soon became a full-blown Kool-Aid drinker cult of online bitcoin fanatics in the 2010’s. Their mantra was/is: Make easy money without having to work or pay taxes, you’ll always be anonymous, it’s a community-owned technology, etc.
The exposure of Adam Back as Satoshi Nakamoto verifies all this bitcoin propaganda as lies. If you get as big as bitcoin has gotten, eventually the world will find a way to identify who you are. This expose’ (& Banksy) was ordered by serious monied interests, what I’ve identified as the “Warren Buffet faction,” the acceptable corporate opposition to bitcoin & crypto. That faction of capitalism sees crypto as an existential threat to the economic order, with bitcoin being the most explosive & destructive. If/when bitcoin crashes and can’t recover, it will bankrupt the entire international financial system, and it is increasingly likely that will happen in the near future. Right now, bitcoin is being propped-up by futures traders who are become increasingly pessimistic about the future.
Bitcoin & all other crypto doesn’t exist in a vacuum. Crypto is exceptionally sensitive to macro political issues. Like when president Trump expands a World War that Bazooka Joe Biden started in Russia/Ukraine & Gaza/Lebanon, by attacking Venezuela and kidnapping its elected president & his wife to have them held in a Manhattan maximum security facility awaiting trial on charges of narco-terrorism. The problem is the Trump administration has no evidence or proof of narco-terrorism, so everything is delayed and kept murky, while another front is opened up by attacking Iran. That’s how catastrophic world wars start and grow out of control– and it must be stopped.
Donald Trump was turned onto bitcoin & crypto by Elon Musk around 2022. This was between his terms as president, a time Trump retreated to his compound in Mar-a Lago to lick his wounds and plan his next assault on democracy & the international working class. Crypto became his latest scam, and it’s his best one yet– IMO. He’s made more money off his worthless crypto tokens & exchange than any of his other business ventures that went bankrupt, but in crypto his costs are virtually nil and people give him real money in exchange. He’s made billions on crypto, but more than that he’s learned a powerful, anonymous & nefarious way to move funds to fascist henchmen who will do his dirty work for him.
Fascism needs these mechanisms to pay its soldiers of death & destruction– the only things fascists are actually good at. So in the big picture in this War for Historical Truth, Adam Back is a leading enabler of fascism through his bitcoin creation & propagation. Crypto-fascism is the mechanism Trump is using to destroy what is left of democratic rights in order to establish a fascist police state dictatorship in America. To get to be Hitler, Trump needs bitcoin.
Bitcoin has helped the fascists WAY more than hard working people who are honest & want to live in peace. Bitcoin is a Libertarian ideological scam introduced around 2010, which has attracted the worst elements of modern society for all the wrong reasons. It is much easier for serious opponents of crypto to explain these facts to people now that we definitively know that Adam Back is Satoshi Nakamoto.
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