Satoshi Nakamoto's P2PFoundation Accounts Posts for the First Time in Over 4 Years

Francisco Memoria

The P2PFoundation account of Satoshi Nakamoto, the pseudonymous creator of bitcoin, the flagship cryptocurrency, has recently posted for the first time in over four years, after being hacked and having its details supposedly sold on the dark web.

The account’s most recent post says ”nour” and went live shortly after it added Wagner Tamanaha as a friend on the platform. Tamanaha, according to available information, is a marketing expert based in São Paulo, Brazil.

Satoshi Nakamoto's account on P2PFounation

Back in 2016, Tamanaha claimed to have understood “almost nothing” of bitcoin and blockchain technology when he first heard about it in 2011, but that he then started participating in the network and ended up forgetting about it.

The account’s connection to the Brazilian bitcoiner is, at press time, unclear. As for the word, “nour,” some have pointed out on social media that it means “light” and is used as a unisex name in Arabic.

Shortly after Satoshi Nakamoto’s P2PFoundation account made the post, self-proclaimed Satoshi Nakamoto Craig Wright, a supporter of Bitcoin Cash Satoshi’s Vision (BSV) started posting in Arabic on social media. The sentence below translates to “the light of the world in trade.”

Notably earlier this month, a fraudulent tweet posted in the name of Nakamoto himself claimed there was an “issue with SegWit” that, if left unfixed, would mean he had failed. As proof, it signed a message associated with one of the first blocks on the bitcoin blockchain.The account that posted the tweet has since been suspended.

Bitcoin developer Jimmy Song later on proved the signature was fake, by reproducing it with an example of his own.

Satoshi’s Hacked Account

It’s well-known in the cryptocurrency community that Satoshi Nakamoto’s P2PFoundatin account was hacked in late 2014, as it was revealed the email account associated with it, [email protected], started sending out uncharacteristic emails.

In a Bitcointalk thread Theymos, a prominent bitcoin community member and an administrator of Bitcoin.org, revealed he received an email saying “Michael, send me some coins before I hitman you,” which made it clear the account had been compromised.

At the time, Motherboard reported it spoke with the person behind the hack, and revealed the person managed to get in touch with Nakamoto himself. The pseudonymous bitcoin creator’s personal information and passwords were, at the time, supposedly leaked.

A P2PFoundation post made through Satoshi Nakamoto’s account at the time stated:

Dear Satoshi. Your dox, passwords and IP addresses are being sold on the darknet. Apparently you didn't configure Tor properly and your IP leaked when you used your email account sometime in 2010. You are not safe. You need to get out of where you are as soon as possible before these people harm you. Thank you for inventing Bitcoin.

At press time, links redirecting to the post seem to point us to the beginning of the thread, indicating the post itself has been deleted. An online search for the term yields no results from Satoshi’s account.

The last time the world has heard from Satoshi Nakamoto himself was earlier that year, when he posted on the account to claim he wasn’t Dorian Nakamoto, a man various mainstream news outlets claimed was behind the pseudonym. Earlier, Satoshi Nakamoto was active on the Bitcointalk forum, but mysteriously disappeared in late 2010.

Cryptoglobe has reached out to Tamanaha. This piece will be updated once we hear back.

Chinese Yuan 'Inversely Correlated' with Bitcoin, Amidst US-China Trade Wars

Since January 2018, China and the US have been involved in an intense trade war in which both countries have significantly increased tariffs on imported goods and services.

Due partly to the rising tension between the two countries, the Chinese yuan (CNY) has been losing value against the USD. During the same time period, the price of bitcoin (BTC) and other major cryptoassets has been surging.

As noted by the South China Morning Post (SCMP), the value of BTC, the world’s most dominant cryptocurrency, increased by 26.5% to $7,878 during the time period from May 5 to May 17. Notably, US President Donald Trump had announced on May 5 that he would further increase tariffs on goods imported from mainland China.

Chinese Yuan Weakens as Nation’s Government Responds to Increased Tariffs

The SCMP pointed out that the yuan dropped to its lowest level since the past six months after the Chinese government responded to Trump administration’s decision to impose higher tariffs on China.

Commenting on the price fluctuations of both the yuan and bitcoin, Garrick Hileman, a Macroeconomics Researcher at London School of Economics (LSE) and Head of Research at Blockchain.com, remarked:

We are observing a strong inverse correlation between the [Renminbi] RMB’s value and bitcoin, meaning that recent RMB declines over trade tensions have been closely matched by increases in the value of bitcoin.

“Correlation Does Not Necessarily Equal Causation”

Hileman also mentioned that we “cannot be 100% certain” that the bitcoin price has been increasing due to heightened concerns regarding trade tensions and the corresponding decline in the value of the yuan. The blockchain researcher stated:

Trade tensions and declines in the RMB’s exchange rate as correlation does not necessarily equal causation.

Hileman, who earned his Phd from LSE, revealed:

This is not the first time we’ve seen significant increases in the value of bitcoin taking place alongside yuan concerns.

He added that there’s “growing recognition of bitcoin as ‘digital gold’ and it being used as a hedge against various macroeconomic risks.”

“This Year, the Narrative Is Bitcoin, Bitcoin, Bitcoin”

According to the SCMP, bitcoin’s price may have surged recently due to the generally positive remarks made about it at the Consensus 2019 conference.

Meltem Demirors, the Chief Strategy Officer at CoinShares, a crypto treasury management firm, has also confirmed recently that the narrative this year has been mostly about Bitcoin. Demirors revealed that both institutions and retail investors are “feeling good” and are “more confident” about the long-term potential of Bitcoin and the evolving ecosystem that supports it.