Latest news with #Satoshi
Yahoo
2 days ago
- Business
- Yahoo
SatoshiMeme ($SATOSHI) Emerges, Declaring 'Return of Satoshi Nakamoto'
Seoul, KOREA, July 28th, 2025, ChainwireThe P2P Foundation and Commons Foundation have jointly announced the launch of SatoshiMeme ($SATOSHI). The project is designed to reflect on the original principles underlying Bitcoin's creation and to explore new directions through community participation and knowledge sharing in the current blockchain environment. The memecoin sector continues to maintain visibility, with assets such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) contributing to broader market activity. According to CoinMarketCap, the total market capitalization of memecoins stands at approximately $54 billion. Within this landscape, SatoshiMeme introduces an approach that emphasizes philosophical reflection. The project highlights the theme of 'returning to Bitcoin's fundamentals' as a central concept, distinguishing itself from other memecoin initiatives. The Place Where Satoshi Once Resided: A 16-Year Homecoming SatoshiMeme's most distinctive feature is the direct participation of the P2P Foundation, the only digital space where Satoshi Nakamoto first publicly announced Bitcoin in 2009. The P2P Foundation holds the unique significance in Bitcoin history as the platform that still possesses Satoshi Nakamoto's only account and posts. At that time, Satoshi Nakamoto announced on the P2P Foundation, "I have been working on a P2P electronic cash system, and I am now releasing the beta version," sharing the Bitcoin whitepaper and initial software. This was the historic moment when Bitcoin was first introduced to the world. P2P Foundation founder Michel Bauwens stated, "We expect the SatoshiMeme project to support the P2P Foundation's knowledge sharing activities and contribute to fund creation for public interest-based projects. This is a meaningful attempt to realize the values of cooperation and openness that Satoshi Nakamoto pursued in a contemporary way." Questioning Bitcoin's Essence Through Memes SatoshiMeme presents reflection on the current cryptocurrency market through a whitepaper released under the concept of "The Return of Satoshi Nakamoto." The whitepaper points to the reality of Bitcoin's transformation into a financial product through a hypothetical message from Satoshi: "Bitcoin is no longer the free currency I sent to the world." The project humorously conveys complex blockchain concepts through 'Satoshi Scripture' parodies, strengthening genuine community belonging through its unique educational approach. Detailed information about SatoshiMeme is available on the official website ( Alternative Economy Realization Through Community Collaboration SatoshiMeme is built on the MicroBitcoin (MBC) blockchain, which hard-forked from Bitcoin's 525,000th block. MBC is a project that started in 2018 with the goal of implementing the micro-economic currency function that Satoshi pursued. It operates in an open-source manner with developers from around the world participating. The Commons Foundation announced plans to expand cooperation with Bitcoin communities worldwide through SatoshiMeme. The foundation aims to spread the practical value of decentralization and P2P economics through creative collaboration with open-source developers, and support the continuous development of the cryptocurrency field. Currently, listing discussions are underway with major exchanges worldwide, with plans for phased market entry through launchpads and presales. This project presents the goal of promoting community-based economic experiments through a contemporary reinterpretation of Satoshi Nakamoto's philosophy. Related Organizations MicroBitcoin: Open-source project initiated in 2018 as a Bitcoin hard fork ( Commons Foundation: Non-profit foundation supporting commons-based projects ( P2P Foundation: P2P Foundation: Global P2P research and education network established in 2005 ( About Commons Foundation The Commons Foundation is a non-profit organization dedicated to fostering commons-based peer production and community-driven innovation. Established to support projects that prioritize collective ownership, open knowledge sharing, and decentralized governance. Key Activities: The foundation identifies and incubates commons-based projects, provides funding for community-driven initiatives, and facilitates knowledge sharing between global commons communities. Notable achievements include supporting multiple open-source blockchain projects and establishing partnerships with leading P2P organizations SongCommons Foundationsopoong@ Permalink | © Copyright 2025 All rights reserved Sign in to access your portfolio
Business Insider
2 days ago
- Business
- Business Insider
SatoshiMeme ($SATOSHI) Emerges, Declaring 'Return of Satoshi Nakamoto'
The P2P Foundation and Commons Foundation have jointly announced the launch of SatoshiMeme ($SATOSHI). The project is designed to reflect on the original principles underlying Bitcoin's creation and to explore new directions through community participation and knowledge sharing in the current blockchain environment. The memecoin sector continues to maintain visibility, with assets such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) contributing to broader market activity. According to CoinMarketCap, the total market capitalization of memecoins stands at approximately $54 billion. Within this landscape, SatoshiMeme introduces an approach that emphasizes philosophical reflection. The project highlights the theme of 'returning to Bitcoin's fundamentals' as a central concept, distinguishing itself from other memecoin initiatives. The Place Where Satoshi Once Resided: A 16-Year Homecoming SatoshiMeme's most distinctive feature is the direct participation of the P2P Foundation, the only digital space where Satoshi Nakamoto first publicly announced Bitcoin in 2009. The P2P Foundation holds the unique significance in Bitcoin history as the platform that still possesses Satoshi Nakamoto's only account and posts. At that time, Satoshi Nakamoto announced on the P2P Foundation, "I have been working on a P2P electronic cash system, and I am now releasing the beta version," sharing the Bitcoin whitepaper and initial software. This was the historic moment when Bitcoin was first introduced to the world. P2P Foundation founder Michel Bauwens stated, "We expect the SatoshiMeme project to support the P2P Foundation's knowledge sharing activities and contribute to fund creation for public interest-based projects. This is a meaningful attempt to realize the values of cooperation and openness that Satoshi Nakamoto pursued in a contemporary way." Questioning Bitcoin's Essence Through Memes SatoshiMeme presents reflection on the current cryptocurrency market through a whitepaper released under the concept of "The Return of Satoshi Nakamoto." The whitepaper points to the reality of Bitcoin's transformation into a financial product through a hypothetical message from Satoshi: "Bitcoin is no longer the free currency I sent to the world." The project humorously conveys complex blockchain concepts through 'Satoshi Scripture' parodies, strengthening genuine community belonging through its unique educational approach. Detailed information about SatoshiMeme is available on the official website ( Alternative Economy Realization Through Community Collaboration SatoshiMeme is built on the MicroBitcoin (MBC) blockchain, which hard-forked from Bitcoin's 525,000th block. MBC is a project that started in 2018 with the goal of implementing the micro-economic currency function that Satoshi pursued. It operates in an open-source manner with developers from around the world participating. The Commons Foundation announced plans to expand cooperation with Bitcoin communities worldwide through SatoshiMeme. The foundation aims to spread the practical value of decentralization and P2P economics through creative collaboration with open-source developers, and support the continuous development of the cryptocurrency field. Currently, listing discussions are underway with major exchanges worldwide, with plans for phased market entry through launchpads and presales. This project presents the goal of promoting community-based economic experiments through a contemporary reinterpretation of Satoshi Nakamoto's philosophy. Related Organizations MicroBitcoin: Open-source project initiated in 2018 as a Bitcoin hard fork ( Commons Foundation: Non-profit foundation supporting commons-based projects ( P2P Foundation: P2P Foundation: Global P2P research and education network established in 2005 ( About Commons Foundation The Commons Foundation is a non-profit organization dedicated to fostering commons-based peer production and community-driven innovation. Established to support projects that prioritize collective ownership, open knowledge sharing, and decentralized governance. Key Activities: The foundation identifies and incubates commons-based projects, provides funding for community-driven initiatives, and facilitates knowledge sharing between global commons communities. Notable achievements include supporting multiple open-source blockchain projects and establishing partnerships with leading P2P organizations globally. Contact
Yahoo
2 days ago
- Business
- Yahoo
$9 Billion Exit by Satoshi-Era BTC Whale Sparks Debate: Are Bitcoin OGs Losing Faith?
Bitcoin's identity crisis came roaring back into focus this weekend after Galaxy Digital (GLXY) announced that it had facilitated a $9 billion sale of more than 80,000 bitcoin for a Satoshi-era investor. The firm said the sale — one of the largest notional BTC transactions ever — was part of the seller's estate planning strategy. The transaction was immediately seen as symbolic. For some, it marked a practical rebalancing. For others, it was a worrying sign that even Bitcoin's earliest believers are cashing out. Crypto analyst and commentator Scott Melker fanned the flames with a sharply worded post on X. 'Bitcoin is amazing,' he wrote on July 26. 'But it's obviously been co-opted to some degree by the very people that it was created as a hedge against. Many of the most ardent early whales have seen their faith shaken and have been selling at these prices.' The comment kicked off a fierce debate that spanned crypto influencers, traders, and ideologues — many of whom disagreed over what the whale's exit meant, and whether Melker's framing was accurate. Some Dismiss the Concern Critics of Melker's interpretation argued that one transaction — egardless of size — doesn't signify ideological abandonment. They noted the sale was explicitly tied to estate planning, not a loss of conviction. Others pointed out that wallet movements can be misleading, and selling doesn't automatically mean an investor has given up on the asset long term. Some community members even called the remark speculative, pointing to OGs like Adam Back and others who continue to accumulate. Melker later clarified that he was 'just pointing out what I've been hearing,' not declaring his own view. Others See a Pattern Supporters of Melker's take saw the whale's exit as emblematic of a broader shift. With Bitcoin increasingly absorbed into traditional finance — via ETFs, corporate treasuries, and custody solutions — some worry that the asset has drifted from its cypherpunk roots. To this group, Bitcoin's transformation into a tradable, regulated, and largely off-chain instrument is a distortion of its founding vision. If early believers are losing interest, they argue, it may be a symptom of Bitcoin becoming less about individual sovereignty and more about financial engineering. Bitcoin's Open-Access Design Defended Another group pushed back against the premise that institutional involvement amounts to ideological failure. In their view, Bitcoin's value lies in its neutrality — its rules apply to everyone, whether it's retail users or Wall Street funds. Censorship resistance, not exclusion, is the foundation. These commentators argued that the rise of ETFs and custodial adoption was inevitable, and even necessary, if Bitcoin is to achieve broad monetary relevance. From this perspective, whale exits are simply a part of maturing capital flows — not a sign of philosophical surrender. Questions About Security and Use The debate also triggered deeper concerns about Bitcoin's function. If most BTC is held as a passive store of value and rarely transacted, how will the network continue to be secured post-halving? With mining rewards falling and on-chain usage declining, some worry that transaction fees alone may not sustain network integrity in the long run. A Telling Moment While Melker's post didn't move markets, it did spotlight a critical question: What does it mean when early believers sell? Is it a warning signal, or a natural redistribution? A loss of faith — or a sign of progress? Galaxy's $9 billion transaction offered no definitive answers. But the reactions that followed revealed just how unsettled Bitcoin's evolving role remains. Between the vision it was born from and the institutions now shaping it, the ideological rift is no longer theoretical — it's playing out in real time. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Bitcoin shrugs off $9bn Galaxy dump with ‘barely a blip'
'Twas but a scratch. Galaxy Digital confirmed it executed one of the largest Bitcoin sales in history on Friday, offloading more than 80,000 Bitcoin worth over $9 billion on behalf of a Satoshi-era investor. But despite the staggering size of the transaction, the market barely flinched. Bitcoin prices dipped from around $118,000 to $115,000 before rebounding to pre-sale levels on Sunday. Analysts say the absorption is a sign that Bitcoin has matured into a deep, liquid market capable of handling major exits without panic. 'The market absorbing 80,000 Bitcoin in days with barely a blip is a big deal — Bitcoin isn't fragile,' Strike CEO Jack Mallers wrote on X. 'It's going to take orders of magnitude more to stop what's coming.' Even other major cryptocurrencies barely reacted. Ethereum has rebounded to trade higher than it was before the sale, while XRP is down just 1% from its price on Friday. Still, not everyone was impressed with how the sale was handled. 'Why is someone selling $9 billion in one shot?' asked Bloomberg Intelligence analyst Eric Balchunas on X. 'The slippage cost is probably insane.' Slippage refers to the difference between the expected price of a trade and the actual execution price. It's a major risk when large orders are dumped on public exchanges rather than sold gradually. Early Bitcoin developer and Blockstream CEO Adam Back was even more blunt: 'Why so clumsy — no OTC, no TWAP?' he wrote, referring to over-the-counter desks and time-weighted average price strategies, which are often used to avoid tanking the market. 'Probably hedged to at least recover the price drop they caused.' Crypto market movers Bitcoin has gained 0.6% in value over the past 24 hours and is trading at $118,150. Ethereum is also up 0.6% in the same period to $3,770. What we're reading BlackRock's crypto chief just jumped ship for Ethereum's second-biggest treasury company — DL News Finding the next MSTR — Milk Road GameSquare Buys Rare CryptoPunk NFT From Robert Leshner for $5.15 Million — Unchained LIBRA promoter Davis calls token a 'memecoin' in updated defence after suspicious transfers surface — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
21-07-2025
- Business
- Business Insider
South Africans spending $1.4m Crypto a year on everyday shopping
To the vast majority of users, cryptocurrency is seen as an investment or trading vehicle. Bitcoin is popular for its potential long-term gains, while smaller coins are commonly used by speculators looking to make sizeable gains from lesser-known cryptocurrencies. However, cryptocurrency wasn't set up as a form of investment. It was designed to operate as a means of transferring value. Its first official use was to buy pizzas, and this was in closer keeping with Bitcoin founder Satoshi Nakamoto's vision. Cryptocurrency Popularity Cryptocurrency has become popular as a store of value, as well as an investment. It is also becoming increasingly popular as a method of paying for goods and services, although only really in some restricted jurisdictions. But, it has become popular for online payments and in the iGaming and sports betting world. Cryptocurrency can be used to facilitate fast payout sportsbooks online, thanks to rapid transaction times. According to online gambling expert Brett Curtis, payments can be completed within a matter of minutes, sometimes instantly, rather than several business days, which is how long it takes with some traditional payment methods like credit cards. South African Crypto Usage While it has not become a mainstream form of payment in any country, some areas do find considerable use for cryptocurrency as a payment method. In South Africa, it has been reported that residents have spent an average of $112,000 a month since November 2024 on groceries and other everyday items. Satoshi's Vision Bitcoin was launched in 2009 by Satoshi Nakamoto. In Bitcoin's 2008 whitepaper, Satoshi described Bitcoin as 'a purely peer-to-peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a financial institution.' In the same year as its launch, the first Bitcoin exchange rate was offered, and in 2010, Satoshi saw his dream of a decentralized payment method realized when software developer Laszlo Hanyecz bought two Papa John's pizzas for 10,000 Bitcoins. At the time, that equated to around $41. At today's exchange rate, the pizzas cost $600m each. Bitcoin enthusiasts now celebrate Bitcoin Pizza Day on May 22 to mark the occasion. However, while Satoshi envisioned a world in which users would be able to send Bitcoin easily to one another and spend cryptocurrency in shops and at other businesses, it took some time for organizations to work out how best to deal with incoming Bitcoin. Early Crypto Challenges Cryptocurrency has unique requirements for vendors and businesses, and this was especially true in the technology's early days. Whereas payment gateways exist now that will convert crypto payments to local currencies before depositing them into the business's account, this hasn't always been the case. Originally, retailers needed crypto wallets and would have to accept payments the same as any individual accepting a Bitcoin transfer from another party. In 2014, however, online retailer Overstock started accepting Bitcoin payments. In January of that year, it accepted Bitcoin payments from US customers, and in September, it rolled the service out to its customers around the globe. At the time, Overstock founder and CEO Patrick Byrne said: 'As long as you can get on the internet, you can order and pay in bitcoin. You can order in North Korea if you want – as long as you're having things delivered to, say, Singapore.' NewEgg and TigerDirect also started accepting Bitcoin payments in the same year, and companies around the globe started to follow suit. The Potential To Serve Unbanked Citizens Bitcoin has long been heralded as having the potential to serve the approximately 1.5 billion unbanked citizens of the world. Unbanked citizens are people with no basic banking services, which can make it impossible to even receive a monthly salary, and can make it difficult to pay for anything from groceries to utility bills and rent. It is estimated that around 23.5% of South Africa's population is unbanked, with many more underbanked, meaning they have severely limited banking functionality. This means around 12 million South Africans do not have access to what many people consider basic financial services. This high ratio of unbanked citizens is one possible reason why South Africa has seen a significant uptick in the number of people using cryptocurrency and the total revenue of crypto purchases. Luno Pay In South Africa Crypto payment platform, Luno Pay, launched a retail payment tool in November 2024 and has said that users have spent a combined $1.1m in cryptocurrency since then. Payments have been used to buy flights, furniture, food, and many other items and services. The company also reported last year that 31,000 retailers in the country accepted cryptocurrency, and this figure has likely risen in the 8 months since the announcement. It's worth noting that while Luno Pay is the most significant crypto payment platform in South Africa, other crypto payment options do exist. Therefore, the figure has been estimated at around $1.4m, which will include direct wallet-to-wallet payments as well as the use of other platforms, and even exchanges. When it comes to exchanges, South Africa's most popular has a recognizable look. Binance and Coinbase lead the way, with the likes of eToro, Kraken, and Gemini also featuring high on the list. South Africa's Crypto Usage It is estimated that nearly 10% of South Africans have or hold some cryptocurrency, which is higher than 7% of the global population estimate. These figures continue to increase, especially as BTC prices continue to rise and as countries and banks around the world wrestle with regulatory frameworks. The SARB And CBDCs The South African Reserve Bank (SARB) has initiated its own investigation into Central Bank Digital Currencies, for example. CBDCs are digital currencies that bear some similarities to cryptocurrencies. They operate on blockchain networks and are spent, sent, and received similarly to the likes of Bitcoin. But where cryptocurrency is decentralized, CBDCs are digital equivalents to local currencies, and they still have the backing and administrative support of central banks. The SARB has not definitively indicated its intention to launch a CBDC, but it is likely to follow other countries that launch their own digital currencies. The Implications on The Crypto Market As South Africa and the rest of the African market continue to increase their crypto spending, it naturally means an increase in crypto acquisitions. This means more money will flow into the cryptocurrency market, not only causing likely price increases for the likes of Bitcoin but also ensuring greater liquidity and even price stability for the market as a whole.
