Technical Director Ripple retired David Schwartz expressed fears that the private keys to the legendary million BTC Satoshi Nakamoto is most likely lost or destroyed.
According to Schwartz, this could have happened even at the dawn of Bitcoin’s existence, when the first kriptovalyuta had virtually no value. This means that dormant coins are unlikely to ever impact the price of the cryptocurrency.
He was inspired to write on this topic by recent research. The New York Times and analysts BitMEX regarding personality Satoshi Nakamoto. But David Schwartz is more interested in his coins than in the individual.
According to Schwartz, after 17 years, it’s hard to believe someone hasn’t used $70-80 billion worth of assets and made a single transaction. The most logical explanation, he believes, is that the passwords were forgotten or accidentally destroyed.
Interestingly, some members of the crypto community believe Schwartz was involved in the creation of Bitcoin. The former CTO Ripple admitted that he was qualified enough to create Bitcoin, but he only learned of its existence in 2011.
This is quite a bold point of view, because the registry Ripple has little in common with the Bitcoin blockchain.
| Register Ripple | Blockchain Bitcoin |
| centralized | decentralized |
| manageable | has no management link |
| transactions can be revoked | transactions are not censored |
| not in demand in cross-border payments | used in international payments |
| coins are issued by the issuing company | Cryptocurrencies are mined by miners |
| token XRP constantly getting cheaper | Bitcoin — a means of saving |
| Institutions are not interested in XRP | Institutions are a major force in the BTC market. |
| an army that had lost hope of a profitable sale | loyal holders satisfied with long-term growth |
Satoshi Nakamoto, whoever he was, created a unique and advanced technology Block, which is actively used outside the digital currency ecosystem by various giant companies from the retail, logistics, banking sector, and even government agencies.
Distributed ledger Ripple cannot boast of such integration in areas unrelated to the crypto industry.
Among the most obvious common points is the long-term presence in the top 10 cryptocurrency market capitalization: Bitcoin has long been in first place by a wide margin, and XRP – fourth (data CoinGecko). At the same time, the price of Bitcoin, as well as its dominance, is growing, and XRP is slowly getting cheaper.
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