crisis of trust and security facing Google

crisis of trust and security facing Google

An American writer, economist and inventor, George Gilder described the readers about the crisis of trust and security facing Google, making predictions about the technological and social development of Google afterwards. Chapter 12, “Finding Satoshi Nakamoto,” is a virtual interview between the author and Satoshi Nakamoto, who is the inventor of Bitcoin.

An excerpt from the original text of the book has described here briefly:

He started by talking of moving forward in what people referred to as the “Bitcoin Space.” Tattoos and ponytails, suits and ties, medical e-cigarettes, the world-renowned “Blockchain Community” certificate, and a column by Coringiri came to mind. Most of this done point-to-point. But from venture capitalists to mutual programmers, from bitcoin players to legendary giants, no one seemed to be able to conduct a detailed analysis of the hero’s Bitcoin chain Genesis Block.

In the end, he said that he gave up looking for an accessible circle and decided to directly find a way to interview the person who created the new era. Satoshi Nakamoto, the designer of Bitcoin, the inventor of the blockchain, and the leading promoter of this conspiracy. He repeatedly emphasised that he did not mention blockchain technology in his thesis.

He said that his first discovery was that Satoshi Nakamoto was a writer. He has published at least 150 insightful maxims on the Cypherpunks list, the P2P Foundation website, the Bitcoin Forum, and other decryption bulletin boards.

Until 11th of December, 2010, it was most likely that his incarnation suddenly disappeared. Further on the 7th of March. 2014, he suddenly appeared again and posted a post which contained several words on the P2P Foundation website.

The least to say would be calling Satoshi’s fans as ecstatic online.

On the 30th of May, 2014, three months post-Satoshi Nakamoto published the last article, he left his wife and children, who were still in western Massachusetts, and came to Europe alone.

He also added that Satoshi Nakamoto, was secretive, to come here for his interview.

Satoshi Nakamoto further also explained that the networks such as Napster were under central control and it’s easy to cut off their heads. The Tor system which originated from the US National Security Agency and was developed by entrepreneur Bram Cohen accounts for almost half of the Internet’s traffic.

Further, if the savage giant Satoshi Nakamoto is willing to retreat, Bitcoin could achieve such success. As a substantial global replication machine, the Internet cannot create money or other pure digital assets.

In Bitcoin, Satoshi Nakamoto made digital assets possible. Without a lot of work, it can’t copy. He refers to it as “proof of work”. Miners have worked hard to search all transactions and compile them into blocks. Due to this, Satoshi Nakamoto was able to create money online and use the money to pay “miners” to verify the transactions made by him.

An immutable transaction record is a form of currency. However, the government does not like private money creation. Therefore, Satoshi Nakamoto has managed to maintain his anonymity.

Soon after Satoshi Nakamoto launched Bitcoin, James Donald on the poster of the decryption master stated that to avoid stress, the network must avoid any central point of exerting pressure.

He also added that it was more like a precious metal. It had predetermined supply, its value fluctuates, and quantity cannot be changed to keep the amount unchanged. As the number of users increases, the cost of each bitcoin also increases.

A sly, mischievous look appeared in his eyes as he said that this might produce a positive feedback loop. As the number of users increases, the value will increase, which will attract more users to take advantage of the added cost.

The emphasis on “proof of work” suggests Satoshi’s efforts to resist changing the cornerstone of Bitcoin’s structure.

Ever since the release of Bitcoins and blockchain technology, it has only been achieving great heights and popularity as it is being adopted in countries worldwide. If the trend continues, it won’t be long when bitcoin and blockchain get worldwide acceptance.