Legal tender bitcoin is officially recognized as a medium of exchange. A paper authored by a person or group using the Nakamoto pen name explained how digital currency could be sent around the world anonymously, without banks or national currencies. Blockchain analysts estimate that Nakamoto had mined about one million bitcoins [22] before disappearing in when he handed the network alert key and control of the code repository over to Gavin Andresen. While wallets and software treat all bitcoins the same, each bitcoin's transaction history is recorded on the blockchain. Wright asserted in court Tuesday that he created the technology and the cryptic identity behind it, which he said was based on his admiration for Japanese culture.
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Read MoreRetrieved 2 November There has been widespread speculation about Satoshi Nakamoto's true identity, with various people posited as the person or persons behind the name. Retrieved 15 January Even Ethereum co-founder Vitalik Buterin, who is otherwise reticent about politics in the cryptocurrency world, came out against Wright, publicly calling him a fraud. Article Talk. As of [update] , the overwhelming majority of bitcoin transactions took place on cryptocurrency exchanges.