🟠 Todd Denies Satoshi Claims

First time reading? I’m Jordan, and this is The Bitcoin Minimalist. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights.

Good morning — Jordan here.

Hopefully the Satoshi drama fades and we get back to normal next week!

Happy Thursday to the 16,582 Minimalist members reading today. 👋 

Today we’re covering:

• Bitcoin ETF options expected by Q1 2025

• Peter Todd denies Satoshi Nakamoto claim

• Ethiopia’s Bitcoin mining capacity reaches 600MW.

• And everything else you need to know.

Estimated read time: 3 minutes and 5 seconds

WHAT WE’RE WATCHING

📉 Bitcoin dipped 1% to around $60,300 following a rise in core inflation to 3.3%, above expectations. Jobless claims also increased to 258,000, signaling potential labor market shifts. Despite these economic indicators, Bitcoin has shown resilience, maintaining stability above $60,500.

📊 Bitcoin ETF options are expected by Q1 2025, says Bloomberg analyst James Seyffart. He mentioned that options could accelerate Bitcoin adoption among financial advisers by offering better risk management tools. The SEC recently approved options tied to BlackRock’s Bitcoin ETF, pending final sign-offs from the CFTC and OCC.

🎬 HBO’s Money Electric suggests Bitcoin developer Peter Todd is Satoshi Nakamoto. The author argues that the documentary misinterprets Todd's sarcastic remarks and BitcoinTalk posts, and sensationalizes replace-by-fee (RBF)

🎥 Bitcoin developer Peter Todd denies HBO's Money Electric claim that he is Satoshi Nakamoto. Todd, who has humorously claimed to be Satoshi in the past, firmly rejects the accusation, citing timeline inconsistencies. He bought his first Bitcoin in 2010, two years after Bitcoin’s launch.

📅 Mt. Gox has extended its repayment deadline to creditors by one year, now set for October 31, 2025. Despite many creditors receiving early payments, unresolved claims led to the delay. The platform currently holds 44,905 BTC ($2.7 billion), easing concerns about immediate Bitcoin sell-offs.

📊 South Korea's Financial Services Commission (FSC) will review lifting the ban on spot Bitcoin ETFs. A newly formed committee will also examine institutional crypto accounts and Upbit’s market dominance. Upbit controls 61% of trade volume, raising concerns about its influence on partner K-bank.

🕵️‍♂️ A 2016 article explores the possibility that Peter Todd could actually be Satoshi Nakamoto. The argument is based on circumstantial evidence, including Todd’s technical background, connections, and behavior. (Check the archive section at the bottom for more details).

IN THE LOOP

• Bitwise CIO Matt Hougan outlined three factors—U.S. election, economic conditions, and market stability—for Bitcoin to potentially reach $80,000 by late 2024.

• Ethiopia's Bitcoin mining capacity has surged to 600MW.

• The U.S. budget deficit soars to $1.834 trillion in 2024, driven by rising interest payments and increased spending.

• SEC Chair Gary Gensler said it's unlikely cryptocurrencies like Bitcoin will become currencies.

• A Kraken survey found that 59% of crypto investors rely on dollar-cost averaging (DCA) for investing.

POLL

TUESDAY’S POLL RESULTS

Who do you think Satoshi Nakamoto is?

Government or 3 letter agency - 10%

Hal Finney - 15%

Adam Back - 6.3%

Len Sassaman - 8.7%

Nick Szabo - 3%

Paul Le Roux - 0%

David Kleiman - 0%

Wei Dai - 2%

Other (leave a comment) - 7%

No idea / don't want to speculate - 48%

No idea / don't want to speculate - “I respect the discovery too much.” - Ivan

No idea / don't want to speculate - “Let sleeping horses lie quietly.” - Chris

Other - “Anyone that thinks any of these listed people is actually the great one, is missing a great part of the mystery. Do I think Satoshi is dead? YES. Do I think that it's one person, no!! It was a group and yes, they have all passed or someone would have come forward or at least sold some of those bitcoins. That’s why it's the greatest mystery of all time and these lazy producers have zero chance of solving it.” - Terry

Other - “White hats / good guys in the military.” - Ben

Hal Finney - “I think either Hal or Adam...on balance of probability.” - Louis

VIDEO

Strike CEO Jack Mallers believes the U.S. is in the best position to back its future with Bitcoin.

As the world's reserve currency, the U.S. could be the next nation to acknowledge and own Bitcoin, marking a historic shift.

CHARTS & DATA

Hash Ribbons - Bitcoin’s hash ribbons crossed. Traders and investors generally see this as a sign that Bitcoin’s price will move up soon.

Bitcoin Difficulty - Bitcoin’s mining difficulty adjusted upwards by 4.12%. It currently sits at 92.05 trillion, nearing the 92.7 trillion high of last month.

FROM THE ARCHIVE

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