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The Right Mag

Voice of Unheard

Creator of Bitcoin Satoshi Nakamoto ‘s identity may be unveiled in a Trail in Florida

Nov 17, 2021

The real identity of the creator of bitcoin can be unveiled in an ongoing trial in Florida, as per a report published in the Wall Street Journal.

The lawsuit filed by late David Kleiman’s family claims him to be Satoshi Nakamoto, the name used by the presumed pseudonymous person who developed bitcoin.

They have alleged that Kleiman’s partner Craig Wright is refusing to provide them his share of the 1.1 million bitcoins mined by him under the pseudonym ‘Satoshi Nakamoto,’ whose identity remains unknown.

The cryptocurrency, worth $72 billion now, could make them one of the richest people in the world.

However, Wright has denied that Kleiman teamed up with him for the creation of bitcoin.

Kleiman had passed away in 2013. Hardly anybody believes Australian programmer Wright’s claims that he was behind the creation of bitcoin.

Despite experiencing a downfall of over 4 per cent, Bitcoin still remains the world’s biggest and best-known cryptocurrency.

Currently valued at around $60,350, it was created after a global financial crisis in 2008. It is ”mined” through computers and its price is calculated via an equation.

Climate activists have openly criticised it due to the excessive amount of energy needed for ‘mining’ – in which computers are required to run for hours on end to solve complex alphanumeric equations – that has adverse impact on the environment.

Analysts believe cryptocurrency is extremely volatile which makes it an unsafe investment. Governments all across the globe are trying to bring it under regulation as it used for terror funding as it is extremely difficult to track.

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