Craig Wright, Polkadot, Goldman Sachs, Go Brrr (Crypto News)

Craig Wright has 145 problems, but a Satoshi
aint one. Stick around as we dive into this and more
on Exodus Crypto News. Hey everybody, it’s the last Friday in May
2020 and we’re happy you’re joining us for the weekly crypto news recap. We’re going to move pretty quickly so hang
on. If the name Craig Wright, otherwise known
as CSW elicits a groan, you’re not alone and he has rightfully earned the title of
Faketoshi after years of making the claim that he invented bitcoin without providing
any verifiable proof. Last year, Craig Wright submitted court filings
stating that he owned a long list of dormant BTC addresses that had mined Bitcoin in 2009.

Of course, he said he didn't have the private
keys to prove this because they were stuck in a time locked trust which is why the coins
hadn’t moved. Fast forward to now and 2 big things happened. On May 21st a whale moved 40+ BTC mined in
2009 which catapulted speculation that this was Satoshi cashing in. Some dogged blockchain sleuths quickly determined
this wasn’t Satoshi. The coin movement did tie into Craig Wright
however because the address was included as one he claimed to own. This caused a bit of double jeopardy for CSW. If he owned the keys and moved the money,
he would be liable to settle his court case which would see him lose at least half of
the bitcoin. If he denied it was him, then he admits to
providing false documents to a court of law.

There was really no time to let the dust settle enough
for Craig Wright to provide an explanation because just a few days later on the 24th, an early
miner signed a bitcoin transaction with this message: “Craig Steven Wright is a liar and a fraud. He doesn't have the keys used to sign this
message. The Lightning Network is a significant achievement. However, we need to continue work on improving
on-chain capacity. Unfortunately, the solution is not to just
change a constant in the code or to allow powerful participants to force out others. We are all Satoshi.” Signing a message can only be accomplished
with a private key and this message did not just appear on a single transaction from a
single Bitcoin address.

The Message was signed from 145 bitcoin addresses,
all of which CSW claimed to be his. These signed messages are categorical proof
he does not have the private keys and puts to bed any additional speculation of Craig
Wright being Satoshi Nakamoto. Will this be the end of hearing about Craig
Wright? This is one topic where everyone has a strong
opinion. Let us know yours in the comments below. I say Polka, you say Dot, What you’ve never
heard of Polkadot? Essentially, as I understand it, the Polkadot
network is the blockchain of the future, using similar technology to Ethereum and has entire
development teams, ahem Parity, who have moved entirely away from ETH and into Polkadot. If you're not familiar Pokladot is a platform built for Web3, so
what happened to web 2.0? Well the logical next step is for the internet to operate on
blockchains, many of them, constantly interacting with one another seamlessly allowing as far
as the Polkadot mission statement says, to have a “Web where our identity and our data
is our own – safely secured from any central authority” I don’t know about you but a completely
decentralized web where users are in control of their own information sounds great to me.

This is the first project from the Web3 Foundation
and it has lofty goals. Do you think Polkadot is a harbinger for the
web of the future, will it eventually take over Ethereum as the “platform” for builders? Leave a comment with your thoughts and if
you’re enjoying this video please give it a like and subscribe for more from Exodus. Exodus is a crypto application platform that
is home to over 100 cryptocurrency wallets and other crypto apps. Click the link above to learn more and download
Exodus today. Unless you haven’t been paying attention
you’re all probably familiar with Money printer go Brrrr meme. The endless printing of money continues as
the US government’s attempts at stabilizing the economy approaches 6 trillion dollars I don’t know about you, but when I first
got into crypto I was bombarded with the magic internet money arguments. It’s not real they said, there is no future
in it they said, well here we are, in 2020 and the US unemployment rate is over 14 percent
with over 40 million people out of work and the government is piling money into the economy
to feed the Stockmarket which, has seen some recent stability.

What is this stability based on? I would call it hopium, The tables have turned
and Bitcoin, because of its programmed scarcity and reduced stock to flow will always increase
in value making it not imaginary internet money but rather a solid store of value for
the long term. While at the same time the US federal reserve
has said we have an unlimited supply of money and they will keep printing as long as it’s
needed to support the economy. The thing is, there is nothing supporting
the support. The Fed prints money and then moves it around
from one fungible ledger to another giving the appearance of stability.

Okay, so l et me ask you this, If the US government
can print an endless supply of money, why do we have income inequality, why do we have
education inequality, why are people going hungry with not enough food to eat, Why…..
do we need to pay taxes if there is an endless supply of money? Bitcoin and crypto fix this by putting the
power of wealth into every individual to control instead of the few wealthy having all the
power. Crypto and Bitcoin will be here when the inevitable
happens to the fiat currencies of the world. Speaking of smoke and mirrors and the control
of the wealthy, Investment firm Goldman Sachs held a public call this week with none other
than Bitcoin on the agenda. There was speculation that Goldman would open
up custodial services for their client base and what it would do to the Bitcoin price. That speculation turned out to be incorrect. Goldman Sachs went the complete opposite direction
and in leaked slides from their “US Economic Outlook & Implications of Current Policies
for Inflation, Gold and Bitcoin” presentation labeled Bitcoin and similar cryptocurrencies
as “not an asset class” offering neither cash flow or a hedge against inflation.

That would have been enough to light a fire
under the crypto community but in a following slide, they doubled down and declared bitcoin,
get this, “a conduit for illegal activity," This led of course to a flaming on crypto
twitter with mixed opinions. Ms Bitcoin said,
“Goldman Sachs saying not to buy Bitcoin is like Exxon Mobil telling people they shouldn't
buy a Tesla.” While some were spitting fire at Goldman,
others were taking a more optimistic outlook and pointing to this as a sign that we’re
still in the preliminary adoption period and it’s not too late to be early. Apparently Goldman Sachs is stuck back in
2016 and will not be early. Why do you think Goldman took this stance? Are they accumulating behind the scenes or
are they just not willing to take a risk on something they have little experience with? We’d Love to hear your opinions so please
leave a comment below and remember to like this video and subscribe to the channel for
more crypto content.

That’s all the crypto news that fits today
so until next time, Hodl on!.

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