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The Notorious Satoshi Nakamoto

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A Review Of Finding Satoshi

I recently have been reading “Life After Google  The Fall Of Big Data and The Rise Of The Blockchain Economy” by Gene Gilder. There is one chapter that takes your mind on a trip to meet up with the infamous Satoshi Nakamoto.
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One chapter of this great and intriguing book takes you to a virtual interview with Satoshi Nakamoto, the creator of Bitcoin’s blockchain. Notice I said the creator of Bitcoin’s blockchain, I will discuss that statement in another post, but for now let’s focus on this great story. This story starts of with mentioning that up until 2010 you could at least find Satoshi Nakamoto’s avatar in the chat’s and forum’s….then poof he/she disappeared. Then in 2014 this person reappeared in the chat’s to announce that they were in fact not Dorian Nakamoto, which is the person that many think could very well have been the notorious Nakamoto.

Who Is Dorian Nakamoto

Dorian Nakamoto was believed by many for a long time to be the notorious Satoshi Nakamoto because of his background. Dorian Nakamoto is a former CIA coder, so many folks have thought that he was the one whom created the Bitcoin blockchain because of his expertise involved the use and knowledge of C++( a coding language that is a part of the blockchain’s code). But let me set your mind at ease Dorian is not the creator of this marvelous technology.

I can somewhat understand why folks would think that this person could be Satoshi, but my common sense clearly understands why he is not.

Think about it, why in the world would a person that is so intelligent create something so amazing, so controversial and without a doubt that would make them a target, then they actually allow their real selfs to be known. Makes no sense to me at all.
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Myself I have never thought that the real person behind this great creation would have allowed them selves to be found so easy, thus it makes no sense to me that Dorian could be this person that so many have searched for and still are.

The Virtual Interview with Nakamoto

George Gilder takes you thru an interview that he has in his mind. During this interview he ask the typical questions like why did you disappear, how exactly does the blockchain work and what makes the final product “Bitcoin” valuable.

He surmises that the reason that Satoshi went into hiding was because of how Wiki-Leaks Founder Julian Assange was being treated by the US…and still to this day is in legal trouble with the US.

He also believes that Satoshi went into hiding as well because he knew that if Bitcoin proved to be valuable and was able to be used like fiat currency then the governments of the world would not like that and therefore would be after him. On the other hand, if Bitcoin ends up being a big failure costing folks lots of money as a result….then again he was going to hunted and tried for various charges. So he went into hiding.

In his discussion with Nakamoto it was explained why bitcoin holds a value:

  • He says that it’s due to all of the work that it takes to create and that with out that work being done a bitcoin cannot be created any other way making it rare and valuable.
  • Then to make it even more valuable it is limited on how many can be produced.
  • Next is as more folks use it and acquire it the value also should also increase with circulation.

He also says that he designed it so that the blockchain would take years to mine all of the bitcoins so that improvements could be made along the way. What he created was only a sound foundation.

Of course this is all in George Gilder’s mind.

He mention’s a person that he believes is the most likely person he has found that he believes is the infamous Satoshi Nakamoto.

But this book is so good I am going to be a mean host and make you go read it to find out whom he thinks it is.

I bought this book for my audible account…I like to listen to books while I work on my other projects and while I am marketing my offers.

Give it a read I believe you’ll enjoy it…I have listened to it 4 times already!!! It’s very good indeed!!!

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Think Cryptocurrency Is Confusing? Try Paying Taxes on It

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Some Useful Articles To Help Crypto Newbies Get Prepared For Taxes

So I came across this article that made me think of other Crypto Newbies, like myself whom really do not have a clue about paying taxes on crytpo currencies. I mean as a Crypto Newbies go we all just love the idea of a decentralized currency, that was supposed to eliminate fees and taxes!!

We all know that the government just can’t help themselves, so there for my Crypto newbies there are some things we need to know to stay legal and outta jail!

I get 1 GHS Of Mining Power For LifeTime, No Fees! Plus I Refer To Get 10% Of Their Mining Power Purchases!!

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Crypto Newbies Welcomed and It’s Crypto Newbie Friendly!!

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The post below gets into how our government (United States of America) is approaching crypto currencies.

I WANT TO MAKE VERY CLEAR I AM NOT AN EXPERT!!! I AM A CRYPTO NEWBIE AND THESE ARE ONLY MY THOUGHTS ON WHAT I THINK US CRYPTO NEWBIES SHOULD DO TO PLAN FOR TAX SEASON……..PERIOD NOTHING MORE OR LESS!! MAKE SURE YOU SEEK EXPERT ADVICE FOR YOUR TAX QUESTIONS!!

The main thing I got from the post below is that for the most part crypto currency investments are being treated as a capital gains tax. That means that the taxes you are paying per dollar are higher.

I also learned that investing came create some headaches when it comes to keeping track of all the losses and gains.

See unlike with your fiat investments, such as stocks and bonds, off setting your profits margins with your losses is not necessarily able to be done. There are circumstances which must be met.

Stocks and bonds do not require investors to track their profits, shall I say so closely throughout the day.

Crypto currencies on the other hand, well that is a little bit of a different story. After reading this article my understanding is that each and every time that your crypto investment shows a profit you must pay taxes on them. Those profits, as I said earlier, are not so easy to legally offset. So there has to be an accurate recorded kept of an investors crypto currency profits and losses. It’s just one confusing headache for crypto investors, especially newbies.

Get A Crypto Currency Tax Expert My Fellow Crypto Newbies

To eliminate the headaches I told you about above, just get yourself a Crypto Currency Tax Expert to help keep you legal. The tax code concerning Crypto is confusing to even the seasoned investor. Befor you read the post below if you think I am joking just check out this PDF Notice 2014 -21 , it talks about how general tax principles should be applied to crypto currency transactions.

Myself, right now I personally do not need to worry, unless prices really skyrocket that is. But maybe you are a very serious Crypto Newbie that’s investing huge amounts, so I hope this will help you find the right expert to help you stay legal with the tax man.

Right now I am taking it slow and easy, learning and investing $20-30 here or there. I am mostly acquiring my crypto currencies through other means and then I invest it into mining contracts. My Favorite is ChillyBot, it’s Lifetime mining with no fees, plus you can refer for extra free mining power!

Anyways give it a read and enjoy…..drop me a line while your at let me know what your plan includes.

Think Cryptocurrency Is Confusing? Try Paying Taxes on It

With this year’s April 17 filing deadline fast approaching, many virtual currency traders are sweating over their tax returns.

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