Week 51 News Recap
Hodlonaut as One of Coindesk’s Top Picks for Most Influential “Bitcoin Hero”
It appears that some of the favorite figures from the cryptocurrency scene are actually influencing cryptocurrency enthusiasts on social media and beyond, through cleverly crafted digital aliases. One of the most iconic aliases is precisely Satoshi Nakamoto, the mysterious creator of the first peer-to-peer digital currency – Bitcoin. Anonymity allowed Satoshi Nakamoto to escape the legal binds imposed by the governments regarding the overall compliance of the first digital asset, while in return enabling cryptocurrency enthusiasts to enjoy the first peer-to-peer system without the factor of human interference. Bitcoin system almost appeared out of nowhere as the new digital Perpetuum mobile that allowed users to make monetary transactions without involvement of third parties. What the name of Satoshi Nakamoto and anonymity tied to it enabled as well, is the opportunity for some cryptocurrency enthusiasts and “specialists” to pose as Bitcoin creators, known in the cryptoverse as Fake Satoshis.
One of the most famous fake Satoshis, also known under the nickname Faketoshi, is Craig Wright, claiming to be Bitcoin creator behind the alias Satoshi Nakamoto. As a result, a true “Bitcoin hero” as Coindesk describes him, appeared on Twitter behind the alias Hodlonaut and the image of an astronaut cat that soon became recognizable signs of this Bitcoin hero on Twitter. Hodlonaut’s alias allowed him to keep his anonymity while sharing truth and castigating Craig Wright in the name of representing himself as THE Satoshi Nakamoto. Offending and challenging Craig Wright, Hodlonaut was soon faced to a threat to be sued by Craig Wright and his team for his offensive tweets directed towards Craig Wright. Many crypto enthusiasts changed their Twitter profile photos to depict the well-known Hodlonaut’s cat in an astronaut suit as a sign of support for the truth-speaking Bitcoin hero. Coindesk spoke to Hodlonaut, a reportedly kind-spoken Scandinavian man who is looking forward to a bright future that Bitcoin can bring for his daughter. Hodlonaut is hoping that future generations won’t have to deal with inflation and will be able to take control over their finances thanks to Bitcoin.
The Reason Why Monero’s (XMR) Lead Maintainer Stepped Out
Riccardo Spagni, the lead maintainer of the well-known privacy coin Monero (XMR), decided to step out and leave his role. Known to the cryptoverse as “Fluffypony”, Spagni has been leading the project from his position of the lead maintainer for five years, while his place will be taken by a developer known as “Snipa”. As Spagni prolongs to explain why he decided to lead his position as the lead maintainer for Monero, he further states that his decision shouldn’t arrive as a surprise as he’s been talking about this move for the past two years.
That is how Spagni left the role of the lead maintainer on Monero website as well as leaving Monero GUI projects. Spagni has no intentions of leaving Monero altogether, so he will continue with his work on further decentralizing the privacy project as one of maintainers although he is stepping out as the lead maintainer. Monero (XMR) is one of the first and leading privacy coins in the market, while Spagni represents one of four developers who are a part of a group called “Magical Crypto Friends”. The group has been working on cryptocurrency systems since the early days of digital asset development.
Bitcoin as the Top Investment Asset of the Decade
As the year is promptly arriving to another end and to the beginning of a new year, an entire decade has also come to an end, and with it, Bitcoin, the first and the original cryptocurrency, emerges as the top investment in the last ten years. With gains totaling nearly 9 million percent for Bitcoin in the course of the last decade, Bitcoin without a doubt managed to top the gains recorded by gold in the market.
To emphasize how far Bitcoin has come in terms of gains and positive returns despite the recent downtrends in the market, if you invested 1$ in Bitcoin back in 2009 when Bitcoin first arrived, your investment would now be worth 90.000 dollars. For comparison, 1$ worth of gold is now worth 1.34$. Based on the price movement of Bitcoin in the last decade, Bitcoin was profitable nearly 90% of the time, which means that Bitcoin managed to top gold as the most profitable asset in the last decade despite downfalls in market trends and the recent uptrending of gold in the market.
Coinbase CEO Patents Bitcoin Transactions via Email
The CEO of Coinbase, one of the top exchange platforms for cryptocurrencies, Brian Armstrong, patented a system that allows users to send Bitcoin and make Bitcoin-based transactions via email. Coinbase’s CEO patented the system back in 2015 with the US Patent and Trademark Office, while UPTO awarded Armstrong with the patent back in March of the same year. The system will allow users to send Bitcoin in a safe and secure way by using their email with no recurring fees made for their transactions. Email addresses will be tied to wallet addresses, enabling Bitcoin-based transactions.
To make the system more secure, Armstrong decided to implement a vault where unclaimed Bitcoin would be stored. This functionality is enabled through the hot wallet function. The system should also include a node that would pose as Bitcoin exchange, and should allow users to lock their fiat currencies for the price of the crypto they are buying in order to annulate losses due to exchange rates. As Coinbase on the head with Armstrong is working on mainstreaming the adoption of cryptocurrency, Bitcoin email system will surely contribute to their goals and plans.
Ripple Raises $200 Million in Series-C Funding Round: XRP Marks Over -90% Lower ATH from January 2018
On December 20th, 2019, Ripple’s representatives announced that the Ripple company managed to raise 200 million dollars in series-C funding round led by Tetragon – an alternative asset investment firm. As Ripple announced in the release on December 20th, Japanese SBI Holdings and Route 66, a venture capital firm, also participated in the funding round. In the meantime, Ripple’s XRP is showcasing over -90% downtrend in its ATH numbers when compared to XRP’s ATH recorded back in 2018. On this occasion, Brad Garlinghouse, the CEO of Ripple, added that 2019 should be marked as a year of invaluable growth for Ripple, as RippleNet managed to grow to serving around 300 clients in 2019.
As further stated by Brad Garlinghouse, 2019 should be marked as the strongest year for Ripple in terms of growth and development, while adding that the latest funding round should serve the purpose of further bringing new international talent and improving the way their partners and customers are served through Ripple payment system. At the same time, Ripple is awaited in court in January 2020, where the company will defend their stance on accusations that XRP was issued as unregistered security.