Thread by @ammar_wth

Why is Satoshi Nakamoto anon?

And a fun fact: There was a digital currency before Bitcoin.

Thread🧵

--> There was an encrypted anonymous digital currency before Bitcoin in 1996 called E-gold.

--> E-gold was based on a fixed supply of $71M worth of gold and users could make transactions to other E-gold accounts as low as one-tenth thousand of a gram of gold in value.

--> It was managed by a corporation based out of Anguilla Beaches, Caribbean Islands

--> E-gold took off.

--> In 2004, 1 million e-gold accounts.

--> In 2006, e-gold processed $2 billion worth of transactions and there was $71M of e-gold in circulation.

--> In 2007 the govt indicted E-gold for money laundering and illegal money transmitting. The company was shut down and some people went to jail.

--> The govt shut down the first threat to their monopoly over money.

--> @peterthiel believes that Satoshi was one of those people and learned his lesson that he needed to be anonymous and even a corporation was too governmentally linked.

@peterthiel --> Some months after E-gold shut down. Satoshi Nakamoto released the Bitcoin whitepaper—remained anonymous and didn’t form any corporation.

@peterthiel --> And he did right.

#SatoshiNakamoto

@peterthiel Please retweet the first main tweet. Creating threads take a lot of time!

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