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Recent developments in the cryptocurrency world have aroused considerable interest. Billionaire entrepreneur Peter Thiel has hinted that he may have met the person or group behind the pseudonym Satoshi Nakamoto, the creator of Bitcoin.
Thiel claims the encounter took place 23 years ago at a financial crypto conference in Anguilla.
The revelation came as Thiel associate Balaji Srinivasan speculated that Bitcoin could achieve a $1 million value.
Given Thiel’s ties at the time, which included Elon Musk, the PayPal mafia, E-Gold founder Srinivasan, and Vitalik Buterin, founder of the first Bitcoin magazine, it’s plausible that Thiel crossed paths with Satoshi. is. However, the extent of those connections remains unknown.
Exploring a potential connection between Teal and Satoshi
Teal remembered“I met them on the beach in Anguilla in February 2000. We were starting a revolution against central banks…we made PayPal compatible with E-Gold, We were going to overthrow all the central banks.”
E-Gold ended in 2007 when the U.S. Department of Justice shut down the project and arrested its founder for unregistered money transfers. The influence and forfeiture from E-Gold lasted him more than seven years.
The Financial Cryptography conference, a long-running gathering of cypherpunks, may have provided a wealth of inspiration for Nakamoto’s Bitcoin vision. Researchers at the conference presented papers such as “Electronic Cash – Technology Denationalizes Money” and “Efficient Electronic Cash with Limited Privacy”.
Thiel believes Satoshi must have gleaned insights from E-Cash, such as avoiding formal organizational structures and adopting MIT’s open source license for Bitcoin.
PayPal Mafia Close to Source
Teal was a member of the “PayPal Mafia” that formed in the early 2000s, made up of fintech startup entrepreneurs who amassed significant wealth through dot-com startups and IPOs.
Prominent figures include Elon Musk, the founder of X.com and an early proponent of Bitcoin and Dogecoin. Balaji Srinivasanformer Coinbase CTO and general partner of Andreessen Horowitz (a16z).
Srinivasan has recently made headlines with a bet that Bitcoin will reach $1 million due to potential US hyperinflation, although some have suggested that this may be a publicity stunt.
Longtime friends Srinivasan and Thiel despise the US Banking System and take an interest in Seasteading. Both argue that Bitcoin needs a sovereign state to evade regulation.
Thiel’s Founders Fund has cautiously transferred billions of dollars from SVB just days before a devastating bank crackdown to avert a crisis.
Some deny Thiel’s allegations, while others highlight reports that he has sold his bitcoin holdings. Regardless of his current cryptocurrency involvement, Thiel was definitely part of the nascent financial crypto community and continues to criticize banks.
At the 2022 Bitcoin Miami conference, Thiel publicly demonstrated his distrust of the US dollar by tearing up a $100 bill while blaming the banking system.