Who Is The Real Founder Of Bitcoin?

So who created bitcoin? Satoshi Nakamoto’s true identity remains a mystery, but speculation is widespread. The most popular contender is Australian Nick Szabo, creator of bit gold. Many believe that he made the anonymous announcement in October 2008 on the bitcoin forum under an alias. Others say he invented it independently around 2005 and kept his identity secret until 2011, when Wired tracked him down to his home in Portland. Nakamoto continued to operate as CEO of bitcoin until February 2014, six months before Newsweek claimed to have finally found him deep in Japan’s countryside.

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Do people actually use this thing? Are they losing money every day because of its lacklustre price? Are typical users just buying for novelty value? Localbitcoins says that 78 per cent take it seriously as a business-to-business tool — selling bitcoins at market rates rather than using them themselves — while 15 per cent are paying bills with them via online bill pay services or giving them to family members as gifts. A further 5 per cent are doing all three simultaneously (a terrible idea), 2 per cent are blockchain junkies or miners (those engaging in speculative alt coins like dogecoin), and 1 per cent are simply speculating with the stuff (high risk). Officially recording five transactions daily on average, consumers seem not to be spending much beyond the peak price days