A Little Chat With Satoshi Nakamoto’s New P2PFoundation Friend

Francisco Memoria

Recently, the account of the pseudonymous Bitcoin creator Satoshi Nakamoto made a post on the P2PFoundation website after four years of inactivity. The post contained the word “nour,” and came right after it added Wagner Tamanaha, a Brazilian marketing expert based in São Paulo, Brazil, as a friend.

As covered, “nour” means “light” in Arabic and is also used as a unisex name. Shortly after Nakamoto made his post, self-proclaimed bitcoin creator Craig Wright, who supports Bitcoin Cash SV (BSV) started tweeting out in Arabic sentences that translated to “the light of the world in trade.”

As for Tamanaha, various theories have been going around, with some claiming he knew Nakamoto and others trying to relate him to the word posted. CryptoGlobe reached out to the Brazilian to find out more about what’s going on.

When asked what his relationship was with Nakamoto and whether he knew who the creator of BTC was, Tamanaha replied that the friend request on the P2PFoundation platform had been sent a year ago, and that to his surprise it had now been accepted.

Per his words, the request was sent as there was only one other Brazilian on Nakamoto’s friend list at the time, and that once he knew about that he sent Satoshi Nakamoto the request. Personally, however, he revealed he isn’t able to tell if it was Satoshi himself who accepted his request and made the post, or a hacker. He did, however, find the “post economy and long intervals” intriguing.

As CryptoGlobe mentioned, Nakamoto’s account was hacked in late 2014, after a hacker revealed he was accessing his [email protected] email account, and after someone used his P2PFoundation account to reveal his “dox, passwords and IP addresses” were being sold on the dark web. The post – which has apparently been deleted – read:

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.

While speaking to Tamahana, we asked him what he believed was the meaning behind the word Nakamoto’s account put out there for the world. He claimed he hadn’t even thought about it yet, but was intrigued by the timing of the post.

He pointed out the post was made shortly after bitcoin’s price fell below the $4,000 mark for the first time since September of 2017, where “many where already claiming the bubble burst but that may have been just a Black Friday of cryptocurrencies.”

The post, per his words, could’ve been made to stimulate the community.

Something to stimulate the discussion about Bitcoin, bringing new arguments beyond market value, almost always compared to fiduciary currencies. I'm not sure either :-)

After our interview with Tamanaha, he responded to Satoshi Nakamoto’s post on P2PFoundation in Japanese, thanking the cryptocurrency’s creator for accepting his request and claiming he will do his best for Bitcoin in Brazil.

The meaning behind the post made by Nakamoto’s account, if any, is currently unclear. Most in the cryptocurrency community seemingly believe a hacker made it. Questions related to the post’s timing, however, are still unanswered.

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.