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Today marks exactly 17 years since the day Adam Back received an email from the mysterious Satoshi Nakamoto.
Satoshi informed Back that his invention, Hashcash, was mentioned in the Bitcoin whitepaper, inviting him to read it.
Satoshi contacted Back in 2008
Adam Back’s company, Blockstream, produced a commercial that shows young Back reading the historic email from Satoshi Nakamoto. In it, Satoshi says that he is getting ready to release a whitepaper that references Back’s Hashcash paper and offers an actual use case for Hashcash.
Hashcash is a proof-of-work algorithm to fight spam emails. Satoshi applied it to Bitcoin mining.
The commercial says that later he cofounded Blockstream to “to help build Bitcoin’s future.”
This email was also historic since, now, many crypto enthusiasts believe Adam Back to be Satoshi. Even though he has frequently rejected that claim, from time to time it surfaces once again.
Satoshi disappeared from the public eye in December 2010 after launching Bitcoin a year earlier, sending the first BTC transaction to Hal Finney and leaving Bitcoin in the hands of the small but eager community of developers, who wished to take BTC further. Satoshi wrote his last message on the BitcoinTalk forum, saying that he would be moving on to other projects now that Bitcoin was in the hands of the community.
Coinbase CEO says when Bitcoin will hit $1 million
As reported by U.Today earlier, the CEO of largest U.S.-based crypto exchange Coinbase, Brian Armstrong, discussed when he expects Bitcoin to reach the much-anticipated $1 million level.
Armstrong said he believed it would happen by 2030. It would finally take place, per his words, since regulatory clarity for crypto in the U.S. is finally shaping up, the U.S. government has started to build a Strategic Bitcoin Reserve, and “there's a growing interest for crypto ETFs, among many other factors.” Still, he added that it is impossible to guarantee that the price's all-time high will happen in exactly 2030 or any other year.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team