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Samson Mow, a Bitcoin maximalist and the chief executive at Bitcoin adoption-focused company Jan3, has got involved in a discussion about Bitcoin privacy and the real identity of Satoshi Nakamoto.
Talking about privacy and how it can be maintained, he quoted the pseudonymous Bitcoin creator on this account.
Mow shares Satoshi Nakamoto's quote
Samson Mow quoted a statement made by Satoshi Nakamoto in the Bitcoin white paper. In that section of the document, Satoshi suggested a way of keeping privacy which is alternative to that of they way banks do it. “The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party.”
However, Nakamoto suggested that privacy could also be maintained in a different way for Bitcoin – by keeping private keys anonymous. This way, everyone would be able to see that one party is sending funds to another but the wallets would stay anonymous and transactions would not be linked to anyone in particular.
Privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone.
— Samson Mow (@Excellion) April 26, 2024
- Satoshi Nakamoto
Ledger CTO Charles Guillemet commented that “Pseudonymity is a weak form of privacy.” In response, Mow suggested that he names who Satoshi was in reality.
Bitcoin Omega candles inevitable
In a recent interview to Forbes, Samson Mow predicted that Omega Bitcoin candles should appear soon. He referred to large greed trading candles whose emergence is surrounded with high volatility.
Now, that the Bitcoin halving has taken place, block rewards have shrunk by half and now they constitute 3.125 BTC versus 6.25 BTC before that.
Mow is positive that this halving will eventually create a Bitcoin supply shock. When spot Bitcoin ETFs began scooping up BTC from the market in January, buying 12x BTC that miners produced then per day (900 BTC in the daily output), they began creating a Bitcoin demand shock, Mow said in his earlier tweets.
When the supply shock meets the demand shock, Omega candles are likely to start appearing, Mow believes, and this will take the world’s flagship cryptocurrency to the much-anticipated $1 million level.
Between Friday, when the halving took place and Wednesday this week, Bitcoin surged by almost 10% to reach the $67,000 level. However, by now, the price has declined by 3.76% and Bitcoin is changing hands in the $64,400 zone.