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Bitcoin.org Celebrates 16 Years: What to Know

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Bitcoin.org, the website that introduced the world to decentralized digital currency, turns 16 years old today. Launched on August 18, 2008, by Bitcoin’s enigmatic creator, Satoshi Nakamoto, and early contributor Martti Malmi, the site remains a key resource for anyone seeking to learn about Bitcoin’s origins and evolution.

Here’s a closer look at Bitcoin.org’s legacy, its role in the community, and some of the controversies surrounding it.

The Birthplace of a Financial Revolution

Bitcoin.org’s creation marked the beginning of a movement that would redefine money. Registered anonymously on August 18, 2008, the website became the first public space where the concept of Bitcoin was shared.

In its early days, the site hosted the Bitcoin software and a brief overview of how peer-to-peer electronic cash could function without a central authority — a radical idea at the time. As the official introduction of Bitcoin to the world, Bitcoin.org set the tone for the decentralized finance movement, encouraging early adoption and the growth of the network.

Read more: What Is Bitcoin? A Guide to the Original Cryptocurrency

Bitcoin.org Registrar Info
Bitcoin.org Registrar Info. Source: who.is

The Iconic Bitcoin Whitepaper

One of the most important resources hosted on Bitcoin.org is the Bitcoin whitepaper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” Published on October 31, 2008, outlines the foundational concept behind the Bitcoin network. Titled Bitcoin: A Peer-to-Peer Electronic Cash System, the document is surprisingly concise at just nine pages long.

In it, Nakamoto details a decentralized digital currency designed to facilitate low-cost transactions without relying on financial institutions or intermediaries. Instead of using a centralized server, Bitcoin operates through a peer-to-peer (P2P) network of connected nodes.

The paper also explains how the “Proof-of-Work” mechanism makes it nearly impossible to falsify transaction data.  For those who are interested, the original document can be read at https://bitcoin.org/bitcoin.pdf

Independence and Community Control

In 2011, Satoshi Nakamoto handed over control of Bitcoin.org to trusted members of the Bitcoin community, a decision that ensured the site would remain independent from corporate or government influence. Today, the site is managed by volunteers, reflecting Bitcoin’s decentralized ethos. One of the site’s administrators goes by the online alias Cøbra.

This transfer of control to anonymous community members preserved the platform’s neutrality and has allowed Bitcoin.org to avoid becoming a marketing tool for specific companies or agendas, unlike many other crypto projects.

Read more: Satoshi Nakamoto – Who is the Founder of Bitcoin?

Internal Conflicts and Divisive Debates

Bitcoin.org has been at the center of some of Bitcoin’s most heated disputes. One of the biggest controversies revolved around the block size debate, which led to the infamous Bitcoin scaling wars of 2017.

The conflict split the community into factions, with some arguing for larger blocks to speed up transactions, while others, including the administrators of Bitcoin.org, remained committed to keeping Bitcoin’s original structure intact.

The debate eventually resulted in a hard fork when supporters of larger blocks split the Bitcoin blockchain on August 1, 2017. This fork created Bitcoin Cash, a new cryptocurrency whose backers believe it aligns more closely with Satoshi Nakamoto’s original vision.

Ownership Disputes and Security Breaches

Despite being a crucial resource, Bitcoin.org hasn’t been immune to ownership conflicts and security issues. In 2021, the site was hijacked in a high-profile scam that directed visitors to a fraudulent giveaway.

This incident raised questions about the website’s security and the risks of decentralized management.

Additionally, the site’s long-standing administrator Cøbra has been a divisive figure, often embroiled in disputes with other prominent Bitcoin developers. His anonymity and controversial statements have sparked debates about whether he should still control the domain, illustrating the challenges of trust in decentralized systems.

Read more: Who Owns the Most Bitcoin in 2024?

Cobra's tweet screenshot
Cøbra’s Tweet. Source: X

Bitcoin.org has also faced legal challenges. In 2021, self-proclaimed Bitcoin inventor Craig Wright sued the website for hosting the Bitcoin whitepaper, which he claims to have authored as Satoshi Nakamoto. Wright, an Australian computer scientist, has long been a controversial figure in the crypto community due to his insistence that he is the creator of Bitcoin — a claim widely disputed and rejected by most experts and Bitcoin enthusiasts.

A UK court recently ruled that Craig Wright is not Satoshi Nakamoto, striking a major blow to his long-standing claims. The verdict came after a lawsuit initiated by the Crypto Open Patent Alliance (COPA) aimed at stopping Wright from asserting ownership of Bitcoin’s intellectual property. The court found evidence against Wright’s claims to be overwhelming, with Judge James Mellor concluding that Wright did not create Bitcoin, nor did he author the whitepaper or operate under the pseudonym Satoshi Nakamoto.

“I will make certain declarations which I am satisfied are useful and are necessary to do justice between the parties. First, that Dr Wright is not the author of the Bitcoin White Paper. Second, Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011. Third, Dr Wright is not the person who created the Bitcoin System. And, fourth, he is not the author of the initial versions of the Bitcoin software,” Judge Mellor said.

As Bitcoin.org turns 16, it stands as more than just a historical artifact. It’s a reminder of Bitcoin’s origins, the community-driven spirit that keeps it alive. For better or worse, the controversies and challenges that have marked Bitcoin.org’s journey are a reflection of Bitcoin itself — a technology that thrives on open dialogue, resilience, and the pursuit of freedom.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Bull Saylor Hints at Expanding MicroStrategy’s Holdings

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Michael Saylor, co-founder of MicroStrategy, has hinted at the possibility of additional Bitcoin purchases.

In a November 24 post on X (formerly Twitter), Saylor teased the company’s plans following its successful $3 billion fundraising round on November 22.

MicroStrategy’s $3 Billion Raise Could Fuel New Bitcoin Purchases

The Bitcoin bull mentioned that MicroStrategy’s portfolio tracker, SaylorTracker, “needs more green dots.” These markers symbolize the company’s each Bitcoin acquisition, fueling speculation about another significant purchase.

Saylor’s recent hints echo his previous two Sunday posts, which preceded announcements of large-scale Bitcoin acquisitions. During this period, MicroStrategy added approximately 80,000 BTC to its holdings, worth over $6 billion at the time.

MicroStrategy Bitcoin Holdings
MicroStrategy Bitcoin Holdings. Source: SaylorTracker

Meanwhile, the recent $3 billion funding — raised through the issuance of convertible debt — could be instrumental in financing these new acquisitions. The convertible notes, sold privately to institutional investors under US securities laws, will mature on December 1, 2029. These notes carry a 55% premium and an implied strike price of $672 per share of MicroStrategy’s Class A common stock.

Market observers noted that this fundraiser aligns with MicroStrategy’s ambitious “21/21” initiative, which aims to raise $42 billion over three years through a mix of equity and fixed-income instruments.

The company remains the largest Bitcoin-holding public entity, with 331,200 BTC valued at over $32.7 billion. According to Saylor, MicroStrategy’s treasury operations have delivered a year-to-date Bitcoin yield of 41.8%, generating a net benefit of around 79,130 BTC, or roughly 246 BTC daily, without the operational costs associated with mining.

Additionally, this strategy has also bolstered MicroStrategy’s stock performance. MSTR shares have surged over 515% since the start of the year, making it one of the most actively traded stocks in the US.

Saylor emphasized that MicroStrategy’s operations are driven by its Bitcoin holdings, which are optimized through strategic financial tools like ATM offerings, enabling the company to reduce risk and volatility while enhancing shareholder value.

“MicroStrategy is powered by its Bitcoin treasury operations. We sell volatility through our ATM offerings, strip BTC risk, volatility, and performance from our fixed-income securities, and transfer that performance to our MSTR equity holders,” he stated.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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$100K Bitcoin Is Only The Beginning, VanEck Targets $180K

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Recent gains in Bitcoin are owed in part to changes in the political environment, particularly in the US. Incoming US President Donald Trump is backing cryptocurrencies, sparking renewed market optimism among investors.

From reforms in regulatory structures to a proposal for a national Bitcoin reserve, the policies he enforces provide Bitcoin an exceptional outlet for growth in an increasingly open and friendly new landscape. These changes places the US in a strategic position as the world’s leader in crypto innovation while giving a fertile ground for Bitcoin to continue growing.

BTCUSD is currently trading at $97,377. Chart: TradingView

Crypto On The Rise

These possible changes have been well taken by market participants, who have seen the highest market dominance of BTC at 59%. A bill being worked out may permit state-chartered banks to mint stablecoins without seeking prior approval from the Federal Reserve, putting the US in a very commanding position in the race to dominate financial innovation. Furthermore, proposals to deregulate the energy industry may favor crypto mining, which will place the US in a better position in the global race for blockchain.

Historic Rally: BTC Approaching $100K

Bitcoin is trading at nearly $99,850 and is on the verge of the long-awaited $100,000 milestone. Similar to other bull runs, including the one witnessed after the elections in 2020, when the price of Bitcoin nearly doubled in a matter of a few months, some believe institutional interest coupled with friendly economic conditions and increased on-chain activity are the drivers of this phenomenal appreciation of the price of Bitcoin.

Source: VanEck

According to VanEck’s latest report, Bitcoin still is in its early stages of the rally, and there is minimal technical resistance in its way. With investor enthusiasm building, growing calls for the alpha coin to be adopted as a strategic reserve, and with a supportive US government, this rally appears well-positioned to continue. Experts are optimistic that Bitcoin is going to push forward and hit new highs.

The Future Of Bitcoin: Cautious Optimism

Analysts, while acknowledging that momentum is strong, point out that the market may run too hot, and early signs in the development are a rise in funding rates and increased unrealized profits. However, even from this stage, long-term prospects appear bright given strong institutional demand, solid on-chain metrics, and supportive regulatory changes, according to the forecast of $180,000 by VanEck for Bitcoin in the current cycle.

While historical data may indicate the crypto asset’s growth is decelerating as the markets mature, the cryptocurrency still shows hopeful prospects in the near term. So far, this rally displays the confidence of investors and has incrementally acquired recognition regarding Bitcoin’s role in a changed financial sector.

Featured image from CNBC, chart from TradingView





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Bitcoin Whales Remain Determined, $3.96 Billion Worth Of BTC Gobbled Up In 96 Hours

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All eyes are on Bitcoin, especially as many traders continue to anticipate a break above the $100,000 mark. This anticipation has cascaded into a spike in activity, especially among Bitcoin whales. Interestingly, Bitcoin whales are making bold statements amidst the anticipation, with on-chain data pointing to an accumulation of over 40,000 BTC in just 96 hours among this holder cohort.

This interesting accumulation coincides with the Bitcoin price reaching a peak of $99,645 in the last 24 hours, adding further momentum to the narrative of a possible historic price milestone.

Examining The Holding Patterns Of Bitcoin Whales

Bitcoin’s recent price dynamics have put the spotlight on Bitcoin whales. Ali Martinez, a well-known cryptocurrency analyst, drew attention to the remarkable activity of Bitcoin whales on social media platform X.

While highlighting Santiment data, Martinez revealed that Bitcoin whales have bought over 40,000 BTC worth approximately $3.96 billion in the past 96 hours. Notably, the Bitcoin whales referred to in this metric by Santiment consist of addresses holding between 100 and 1,000 BTC. 

Image From X: Ali Martinez

 

This aggressive accumulation comes at a critical juncture for Bitcoin, with prices flirting near the much-anticipated $100,000 mark. Such whale activity typically reduces the available supply of Bitcoin on the open market, which is expected to keep pushing up the Bitcoin price.

Despite the increase in whale accumulation, on-chain data from Glassnode suggests that long-term holders have upped their profit-taking in tandem. Particularly, over 128,000 BTC has been sold by long-term holders since early October.

However, this long-term holder profit taking has so far been offset by the demand from US Spot Bitcoin ETFs. These ETFs have acted as a counterbalance, absorbing nearly 90% of the Bitcoin sold by long-term holders.

Image From X: Glassnode

 

A possible explanation is that long-term holders are exiting their self-custody of Bitcoin and are instead diverting their holdings into Spot Bitcoin ETFs in order to benefit from their regulatory clarity. According to data from SoSoValue, Spot Bitcoin ETFs in the US witnessed consecutive days of inflows throughout last week to bring the total inflow to $3.38 billion, which is the largest weekly inflow since their launch in January 2024. 

Bitcoin is currently trading at $97,493. Chart: TradingView

What’s Next For Bitcoin Price?

Looking ahead, the Bitcoin price is definitely on its way to break above $100,000 in the next few days. However, it remains to be seen what happens after that. Crypto analyst Tony Severino has speculated that the Bitcoin price peak could double within a timeframe of two weeks to two months following the break above $100,000.This prediction is based off of the Bitcoin price performance after it first broke above the $10,000 price level in 2017. 

On the other hand, veteran analyst Peter Brandt suggests there could be some sort of selling pressure among bulls once the Bitcoin price breaks above $100,000. 

“What I had in mind here is the possibility that bulls will sell their BTC sub $100,00 thinking they will buy a correction that does not come, then turn bearish if Bitcoin goes to $120,000 believing price must come down,” he said.

Nevertheless, the current crypto market landscape is set in place for a continued Bitcoin price increase in the next few weeks and months.

Featured image from DALL-E, chart from TradingView



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