Crypto warlord John McAfee has been generating waves from his private yacht in the Bahamas a short time ago. He claims to have talked with the evasive Bitcoin creator Satoshi Nakamoto and has threatened to reveal his identity. Many in the industry have already commented on the adverse impact this may have on Bitcoin as well as crypto prices.
Who Is Satoshi Nakamoto
Bitcoin has been on a roll lately as April has viewed the asset lift itself off the floor and rise 36 percent to peak over $5,600. Only yesterday BTC broke through resistance as the fabled ‘golden cross' formation transpired signaling more bullish gains.
Blunt antivirus pioneer John McAfee could throw a digital spanner into the works assuming that he makes good with his threat to reveal the identity of Bitcoin father Satoshi Nakamoto ‘within a week'. Speaking With Bloomberg McAfee rescinded the threat on legal grounds stating;
“The US extradition request to the Bahamas is imminent. I met with Mario Gray, my extradition lawyer, and it is now clear that releasing the identity of Satoshi at this time could influence the trial and risk my extradition. I cannot risk that. I’ll wait.”
The US extradition request to the Bahamas is imminent. I met with Mario Gray, my extradition lawyer, and it is now clear (read his letter below) that releasing the identity of Satoshi at this time could influence the trial and risk my extradition. I cannot risk that. I'll wait. pic.twitter.com/l8lTjR6fQM
— John McAfee (@officialmcafee) April 23, 2019
He added in that he has in reality spoken with Nakamoto who was less than pleased relating to efforts to reveal his identity which has been elusive for over a decade; “I've spoken with him, and he is not a happy camper about my attempt to out him,” adding that he is a technologist who has spent a lifetime pursuing hackers.
McAfee has been known for shilling crypto projects and ICOs for a price on his twitter feed which presently has more than 900,000 followers. His unveiling of Nakamoto's identity may not be the most desired thing for Bitcoin at this time. Fundstrat's Tom Lee, a prominent crypto bull was quick to answer back in agreement with the sentiment;
Wouldn’t this be a negative development? Unless SN has passed away already… https://t.co/wvrgK7KvIf
— Thomas Lee (@fundstrat) April 23, 2019
There certainly have been many endeavors at locating Nakamoto previously, a Newsweek article in 2014 named a California physicist who spurned the report. Australian computer scientist Craig Wright has repeatedly claimed that he is Satoshi himself, claims that ultimately resulted in a tweet war and his own version of Bitcoin, Satoshi's Vision, being delisted from the world's largest crypto exchange. This recent spat is what prompted McAfee to threaten the revelation;
“My entire life I’ve been tracking people who are the best in the world, and hiding their identity. Finding Satoshi was a piece of cake for me,” he added.
Bitcoin Price Reaction?
Satoshi Nakamoto, along with a number of early pioneers, is thought as being one of the largest holders of Bitcoins. It has been approximated that he could hold as many as a million of them which would equate to practically 5 percent of the whole entire supply. At today's prices they would be worth around $5.5 billion. Because this stash has not moved in a decade many had presumed he had died.
Supposing that these Bitcoins enter the market it would put enormous pressure on prices noted Bloomberg comparing the scenario to Mt Gox trustees dumping BTC on the market in the past. Bitcoin could quite possibly dump back to new lows if a million more of them enter the market and the crypto market could very well freeze over once again.
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