As an observer with a background in cryptocurrency and finance, I find Samson Mow’s insights on Bitcoin privacy and its potential future developments quite intriguing. His deep understanding of Satoshi Nakamoto’s vision for maintaining privacy through anonymous public keys is noteworthy, especially in today’s world where privacy concerns are at an all-time high.
Samson Mow, the CEO of Bitcoin advocacy firm Jan3 and a strong supporter of Bitcoin, recently engaged in a debate concerning Bitcoin’s privacy features and the true identity of Satoshi Nakamoto.
Discussing the importance of safeguarding privacy, he referenced the anonymous Bitcoin innovator’s perspective on this matter.
Mow shares Satoshi Nakamoto’s quote
As a researcher studying the inception of Bitcoin, I came across a notable suggestion made by Satoshi Nakamoto in the Bitcoin white paper. In this particular passage, Satoshi put forth an innovative approach to maintaining privacy contrasting the methods employed by conventional banks. He stated, “The conventional banking system secures privacy through restraining data access to the transacting parties and the trusted intermediary.”
by concealing the identities of private keys. This approach allows all users to observe when one party transfers funds to another, yet keeps the specific wallets hidden and untraceable to any individual.
Privacy is preserved by interrupting the information stream in another manner: by concealing the identities of public keys. While it’s visible that one individual is transferring an amount to another, there’s no connecting data revealing the involved parties.
— Samson Mow (@Excellion) April 26, 2024
Charles Guillemet, the CTO of Ledger, stated that “Pseudonymity provides only limited privacy.” In contrast, Mow proposed revealing the true identity of Satoshi Nakamoto.
Bitcoin Omega candles inevitable
In a recent interview with Forbes, Samson Mow expressed his belief that significant “greed candles” in the Bitcoin market, characterized by large price swings and high volatility, are imminent.
Following the Bitcoin halving event, the block rewards have been reduced in size. They now amount to 3.125 Bitcoins as opposed to the previous 6.25 Bitcoins.
Mow is confident that the ongoing bitcoin halving will ultimately result in a significant reduction in the circulating supply of Bitcoin. When spot Bitcoin ETFs started purchasing large amounts of Bitcoin from the market in January, they bought approximately 12 times more Bitcoin per day than miners were producing at that time (around 900 BTC daily output). This massive demand for Bitcoin caused a significant surge in its demand, which Mow referred to as a “Bitcoin demand shock” in his earlier tweets.
As a researcher studying the cryptocurrency market, I believe that when a supply shock and a demand shock intersect, Omega candles may emerge. This convergence could potentially propel Bitcoin to reach the eagerly anticipated price of $1 million.
From Friday, when the halving event occurred, until Wednesday of this week, Bitcoin experienced a nearly 10% rise and reached a level of around $67,000. However, the price has since dropped by approximately 3.76%, causing Bitcoin to be traded in the vicinity of $64,400.
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2024-04-26 13:25