Hello and welcome to the latest Overbit Weekly Round Up.
Elon Musk, the CEO of Tesla, has spoken out on the true identity of Satoshi Nakamoto, the enigmatic person or group credited with inventing bitcoin.
Musk addressed the mystery surrounding the bitcoin creator's identity during a podcast published Tuesday.
During the interview, the host questioned Musk if the fact that bitcoin's originator has never been identified is a "Feature or a Bug," prompting Musk to provide his take on the problem. Musk, a well-known cryptocurrency supporter, claims that computer scientist Nick Szabo is "primarily responsible" for bitcoin's creation.
In the late 1990s, a computer scientist devised a bitcoin forerunner known as "Bit gold."
"You can look at the evolution of ideas before the launch of bitcoin and see who wrote about those ideas," Musk said on the Lex Fridman podcast. "Obviously I don't know who created bitcoin for practical purposes, but the evolution of ideas is pretty clear before that. It seems as though Nick Szabo is probably, more than anybody else, responsible for the evolution of those ideas."
"He claims not to be Nakamoto but that's neither here nor there. He seems to be the one more responsible for the ideas behind bitcoin than anyone else," Musk added.
A group of linguistics academics from the United Kingdom compared the renowned bitcoin whitepaper ascribed to Nakamoto to the work of 11 persons suspected of being the author in 2014. Szabo, for one, has always denied being bitcoin's founder, even writing in a 2014 tweet that he was "Not Satoshi, but thank you."
While several people have been suggested as plausible possibilities, including Musk, the exact identity of bitcoin's inventor - or creators - has yet to be established.
Closing out today's edition of Overbit Weekly Round Up, we take a look at one of the latest companies to be nearing a blockchain technology rollout.
According to reporting from CoinTelegraph, the trading app Robinhood will roll out their crypto wallet beta release in January, allowing users to deposit and withdraw Bitcoin, Ether, Dogecoin, and other tokens.
Robinhood stated in a blog post on Wednesday that tens of thousands of customers on the waiting list for the trading app's crypto wallet will have access to the beta version in mid-January.
More than 1.6 million individuals have signed up for the wallet, which will allow users to deposit and withdraw Bitcoin, Ether, Dogecoin, and other cryptocurrencies.
Since its first announcement in September, the trading app has been testing its digital wallet function, with its first alpha transfer - utilising DOGE - taking place on November 22.
"While some say 2021 is the year that crypto went mainstream, the truth is that most people are still familiarising themselves with the asset class and how to navigate the blockchain," said Robinhood. "With the launch of wallets, we're thrilled to play a significant role in welcoming a broad range of investors to the crypto sphere for the very first time."
According to Christine Brown, Robinhood's chief operating officer, the beta's focus will be on customer security and offering education on crypto transactions and transparency on network and gas costs.
What comes next? The #WalletsBeta phase will begin in mid-January, allowing a broader set of people on the queue to receive access. While Alpha was limited to a small group of consumers and 1:1 interaction, the beta will be available to tens of thousands of people.
The Nasdaq share price of Robinhood seems unaffected by the recent statement.
The stock has progressively plummeted since coming public in July, from an all-time high of $70.39 on August 4 to $17.03 at the time of publishing, a reduction of more than 75%.
That concludes this week's issue of Overbit Weekly Round Up. Thank you so much for reading, and until next time!