15 mysteries about bitcoin and cryptocurrencies
The digital world has always been kind of a mystical fairyland for people. We see new things sprouting up and about day in and day out and as far as people are enthralled about such happenings, they also wish to come out of the darkness a little more and have some light shed upon what is the truth behind things. As far as a few people are concerned, they love living in their own dream land since it is a nice cozy place full of wonders and magical things. However, there are still many who thrive to uncover them. Today, I would not be uncovering those mysteries for you but to get your minds charged up about how much of the real world is actually hidden from us and how much of it we have absolutely no idea about.
Since the digital currency world has taken people by surprise and people have been ever since trying to understand it better more and more, here are a few of the most intriguing mysteries about this crazy digital token world. Although I would be mostly focussing on the very own original solution of blockchain and favorite of everyone, Bitcoin, I would also be talking about a few other cryptocurrencies. So if this interests you, go ahead and read about the crazy mysteries related to bitcoins and cryptocurrencies.
- The biggest mystery should maybe be tackled the first. Who is after all the creator of Bitcoin? This wonderful creation has been credited to Satoshi Nakamoto but people are yet to truly know who he actually is. Or whether it is even a he or not. From people claiming it to be Elon Musk to the NSA to even extra terrestrial aliens, there has been no concrete proof regarding who is Satoshi Nakamoto. Since it has already been almost 10 years since Bitcoin was introduced to the world and no one has been able to uncover this mystery yet, I guess no one would ever know who Satoshi Nakamoto really is.
- In 2015, Australia, a man named Craig Wright claimed to be Satoshi Nakamoto and said he has concrete proof to prove so. But when it actually came to providing the proof in public, he backed out and said he does not have the ‘courage’ to come out with the proof. No one understood this and everyone was quite disappointed by these turn of events. Well we guess we will never know what that was all about.
- In around 2011, Satoshi Nakamoto disappeared from the face of Earth as it is. He had already been on email communication with everyone and then suddenly all these communications ceased. Since then, no one knows where he is. Adding upon the whole mystery of who he is, the where he is now question made people even more excited about the whole scenario. And just like, till date, no one knows who he is, no one has been able to figure out where he is. This man is quite a mystery I must say.
- In around mid July, there was an Ethereum user who can be identified only using his or her anonymous digital wallet address, as are all users of Ethereum, and this address owner holds Ether in such a quantity that actually makes him or her a millionaire. Now as much as this is a good news for this particular person, tax regulators have been going crazy about how to identify this person so that they can be charged their income tax. Any millionaire would of course be charged a whole lot of taxes for holding such a huge amount of money but this person, along with quite a few millionaires across the globe with respect to digital tokens have been evading tax payments since they cannot be identified.
- In the same month of August in 2011 when Satoshi Nakamoto disappeared from the internet, he sent an email to one of the Bitcoin project developers named Gavin Anderson stating, “Deemphasize the whole ‘Mysterious Found’ thing”. No one really understood what that was all about. It is also quite interesting to note that this was actually Satoshi Nakamoto’s last known communication with the world.
- Since the price of Bitcoin is affected by the supply and demand phenomenon, and the supply of Bitcoin is finite, which is, 21 million, people wonder what would happen when all of these 21 million tokens are mined. Experts believe it would create a bubble which when saturates, will burst leading all the investors in any kind of digital currency into a digital chaos of never before seen magnitude.
- In addition to who exactly is the creator of Bitcoin, no one really understands how the very first coins were mined. Yes of course they understand the whole mining process but there is still a huge mystery regarding how these coins actually began to flow onto the digital floor in the first place.
- In 2015, an artist (with the twitter handle ‘coin_artist’) created a Bitcoin puzzle that has about 4.87 bitcoin and anyone solving this puzzle would get these as the reward. It is the point of attraction for a lot of bitcoin enthusiasts even know. Why would someone do this is quite unexplainable.
- However, instead of solving this puzzle, in 2017, a mysterious entity deposited 0.125 bitcoin in this particular puzzle wallet. This lead to a lot of excitement in everyone and also unraveled a new mystery of a system or network of easy accessible linked wallets which can be facilitated for completely automatic transactions involving bitcoins.
- Moreover, the deposit of 0.125 bitcoins was not made from a genuine wallet. About 3 days before this deposit was made, a reddit user claimed and showed good proof about how his bitcoin wallet had been hacked into and he had been robbed of Bitcoins. It was a part of this hacked bitcoin stash that was used to make the 0.125 deposit.
- A coder named Sergio Demian Lerner, carried out a little analysis of the distributed ledger by putting himself in the shoes of Satoshi Nakamoto and came out with an interesting inference. According to him, anyone who could possibly be Satoshi Nakamoto, has acquired quite a wealth of which only 500 bitcoins have been spent. This roughly accounts for about 0.0005%. No one really understands why Satoshi Nakamoto has not yet cashed in the remaining tokens and become a millionaire himself.
- The hacker who deposited 0.125 bitcoins in the puzzle created in 2015 by coin_artist was most probably a part of a bitcoin siphon. This bitcoin siphon has been indulging in stealing bitcoins from wallets since quite a few years.
- An American Japanese man named Dorian Nakamoto has been living in California since quite a few years. People and the media suspected him to be the original creator of Bitcoins but he claims to have had never heard about it before and has no idea what it is all about. The interesting thing to note is that the real name of Dorian Nakamoto on his birth certificate is ‘Satoshi Nakamoto’.
- However, soon Dorian did set up a Bitcoin wallet and started investing in it. This account has been under several bitcoin transactions just over the course of a few months and after having passed all these addresses has been deposited back into Dorian’s address. The man who had never heard about Bitcoins has become quite an avid user of this platform which is a little unsettling to be honest.
- In addition to the mysterious anonymity of Satoshi Nakamoto, now claims have surfaced that since he had suddenly disappeared from the web, this might not have been his conscious choice but he could actually be dead. Now since no one really knew who he is or was, we would never really know if he is alive or dead.