Connect with us


‘Craig is Satoshi,’ says Money Button’s Ryan X Charles as he ‘validates’ 8 of Wright’s 17 degrees

Arijit Sarkar



'Craig is Satoshi', says Money Button CEO Ryan X Charles; "validates" 17 of Wright's degrees
Credit: Pixabay

Craig Wright’s claims of being Satoshi Nakamoto has been widely rejected by a lot of prominent people in the cryptocurrency space. However, Wright has been relentless in his quest to prove that he is the creator of Bitcoin, enough to even file “harassment and libel” lawsuits that claim he is Satoshi Nakamoto.

This debate was recently reignited by Ryan Charles, a prominent voice in the crypto community. Charles, the CEO of Money Button, uploaded a video on his YouTube channel to back up a recent tweet that said,

“Craig Wright has 17 degrees and he’s getting two more PhDs right now, simultaneously, while working a full-time job. He is the most serious life-long learner and scientist I have ever heard of in my life. Inspiring.”

Charles’ latest YouTube video was a response to the negative comments to his aforementioned tweet, primarily to “clear out the misinformation” about Craig Wright. In the video, Charles said that he validated eight of Wright’s 17 degrees and also presented his method of finding (Googling) one of Wright’s PhD thesis.

He also said that he believed Wright to be “the real Satoshi Nakamoto” based on the proofs available online and his personal interaction with Wright. Charles supported this claim based on Wright’s knowledge of Bitcoin. He said,

“He has explained many things that no one had any explanation for. I’m very convinced that he (Wright) is Satoshi Nakamoto.”

While the self-recorded video’s central premise was supporting Wright’s Satoshi claims, Charles also took a jibe at ongoing token scams, while questioning Binance’s legality in the US. He asked the viewers,

“How come Binance is not doing KYC/AML stuff that the regulated exchanges in the U.S. do? They are breaking the law!”

Additionally, he labeled the people that refuse Wright’s claims as “liars”.

Following further discussion about how the Internet fueled the hate for the controversial self-proclaimed Bitcoin creator, Charles’ video ended by warning ‘haters’ about Wright’s intent to sue for defamation. While the video caught the attention of the crypto-enthusiasts, no official comment has been made by any prominent players by press time.

Subscribe to AMBCrypto’s Newsletter


JP Morgan: Big banks stand corrected as Bitcoin rally past intrinsic value; admits current surge mirrors 2017 rise




JP Morgan: Big bank stands corrected at Bitcoin rally past intrinsic value; admits current surge mirrors 2017 rise
Source: Pixabay

Big banks are riding a FOMO wave as the Bitcoin bull-run is just beginning. Spearheaded by the changing colors of JP Morgan, which recently forayed into the digital assets world, the banking elite is now suggesting that their initial stance on Bitcoin and the larger cryptocurrency world might have been off.

A recent chart by JP Morgan shows the current BTC price veer upwards chiding the “intrinsic value” the big bank placed on the virtual currency.

Based on the article by Bloomberg, the price of the coin would reverse towards the end of December 2018 and then make marginal gains until May 2019, all under the $5,000 mark. In reality, the BTC price, after dropping to “rock bottom” at just above $3,100 in early December 2018, edged upwards.

Several spurts of growth were seen in early January and February, prior to a massive April ascendance. On April 2, Bitcoin did away with the bank’s value mode and amassed a daily gain of over 15 percent, fuelling its current rise. Breaking the $5,000 ceiling in the process, which was pegged to remain intact well into May 2019, the king coin is now almost $3,000 ahead of the mark and is not looking to stop.

Source: Bloomberg

It should be noted that JP Morgan’s “intrinsic value” is calculated on the basis of the marginal cost of production, electricity prices, and hash rates. This model does not take into account, at least on absolute terms, the anticipatory effect of the 2020 halving, which, according to a slew of analysts is the behind the price rise.

Nikolaos Panigirtzoglou, the MD in the Global Market Strategy team at JP Morgan stated that Bitcoin breaking through its “intrinsic value” showed signs of mirroring its 2017 bull run. He evidenced this move by comparing the pre-December 2017 slump to the one seen prior to the current bullish swing.

The analyst added:

“Over the past few days, the actual price has moved sharply over marginal cost. This divergence between actual and intrinsic values carries some echoes of the spike higher in late 2017, and at the time this divergence was resolved mostly by a reduction in actual prices.”

With the analyst admitting that the imparting of an “intrinsic or fair value” to a cryptocurrency, much less a volatile one like Bitcoin, is a “challenging” ordeal, a mere JP Morgan acknowledgement of a Bitcoin bull-run is a remarkable sign for the digital assets industry, especially given the bank’s and its CEO Jamie Dimon’s Bitcoin-bashing in the past.

Mati Greenspan, senior market analyst at eToro attested to the same, adding a key point that JP Morgan failed to take into account in their calculation. He stated:

“Great to see JPM finally admitting that Bitcoin has intrinsic value.
Now wait till they understand that miners who run a surplus tend to begin hording.”

Despite Bitcoin slumping at press time, recording a 1.23 percent decline against the dollar, the prospects look positive. After recording a massive gain on 19 May, briefly surging past $8,000 for the second time in a week, Bitcoin created a High-Low [HL] at $7,100, which many analysts look at with glee.

This HL immediately following last week’s pull-back caused due to post-Consensus bears, a Bitstamp sell-order and market correction showed the king coin’s bullish persistence and can even be a foundation for a $9,000 ascendance, defying any “intrinsic value” expectations.

Subscribe to AMBCrypto’s Newsletter

Continue Reading