22 January 2014

Six myths about Bitcoin

<p>Myth: No one knows who started Bitcoin. Truth: &#8220;Satoshi Nakamoto&#8221; is a fictional name for a single person, or, potentially, a group of people who wish to remain out of the public eye. Since they&#8217;ve managed to do this so far, it&#8217;s likely that they have a long history of secrecy keeping. This suggests strong bonds, such as one finds in a governmental context (i.e. ex-NSA employees, like Snowden), or organized crime. In any case, it&#8217;s likely that a few people, potentially including governmental security agencies, know who &#8220;he&#8221; is. Some of these people are undoubtedly becoming extremely rich along with Satoshi. Myth: Bitcoin only has 21 million possible coins and therefore can&#8217;t be used broadly as an exchange mechanism. [&#8230;]</p><p>The post Six myths about Bitcoin appeared first on Bitcoin Magazine.</p> January 22, 2014 at 10:01AM