Tuesday, June 14th, 2016

The stock price rise of Bitcoin is REALLY happening! And Where is the Bitcoin creator now?

Narada Desk | June 14, 2016 8:17 pm Print
At $700 per bitcoin, that translates to a fortune worth around $700 million.
Bitcoins hacked in online by hackers.

Business standard reports that,

The digital currency is on a powerful upward trajectory, jumping in value by well over 30% in the space of a month. On Monday, the price peaked at $719 – far, far above the $200-mark it was languishing at in August 2015. (As of writing, it sits a little below this week’s high, at $69

Bitcoin, The digital money that you can transfer to another person without the need of a third party, like a bank. It can be thought of as a digital equivalent of cash – it’s just one person transferring value to another person, no bank involved. In fact, Bitcoins are not issued by a bank or government, so an even more apt analogy than cash might therefore be gold.

You can start using Bitcoin in a matter of seconds and, although it is a very simple process, it is strongly recommended that you learn about how it works and what is happening to your coins when you make a simple transaction.
With Bitcoin it is you who has control over the money and you need to take care of it responsibly.

As you can see, Bitcoin is extremely secure and absolutely no one who does not know the private key to a public address will be able to spend bitcoins without authorization.
You are the sole owner of your bitcoins and it is thus your responsibility to keep the private key to those coins safe. Many bitcoin wallets will encrypt these keys using a password you provide. This is extremely recommended.
Also make sure that your computer is free from keyloggers, trojans and malware. If you hold large amounts of coins you might want to consider creating a paper wallet, as no virus in the world can get in your drawer and printed documents.

Same time, the creator of Bitcoin, Nick Szabo, oh sorry, Satoshi Nakamoto, ever revealed his identity then his life would be in danger. Think about it like this – most billionaires are not in danger of having their assets stolen from them, because those assets are in the stock market or in a bank – etc. Nic, er Satoshi is in danger as his assets are all 100% controlled by himself. Of course, they are probably also hidden in several bank’s safety deposit box – but even still, he could access them. Publicly associating himself with the “Satoshi Nakamoto” pseudonym would mean a tragic loss of security. I do think at some point he will go public about it, but what I am saying is that there is tremendous risk. Going public would mean giving up his privacy, a great deal of freedom and paying large amounts of money/time if he wanted to stay alive