Today, the opportunists and, unscrupulous traders are using fintech crypto services and blockchain technologies of cryptocurrencies for their illegal business; money laundering, and include online gambling activities.

by Suthep Chaviwan/Feb. 11, 22

 

Many people will certainly have questions in their minds and want to know why Satoshi Nakamoto, the bitcoin creator have created the bitcoin and what was his original purposes?

 

In Nakamoto's original proposition on Bitcoin, he wrote "What we need is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other with no trusted third party.

He had likely envisioned Bitcoin to be a token of a transaction that the world would widely adopt to protect against inflation. 

To date, it is unclear if the name Satoshi Nakamoto refers to a single person or a group of people. Several people have claimed to be Satoshi, but the true identity has never nor revealed, the genuine Nakamoto may be a woman, nobody knows, what we know is his bitcoin, the great work.

Bitcoin is the digital currency, they create it as a way for people to send money over the internet to provide an alternative payment system that would operate free of central control but used just like traditional currencies. 

The nine-page white paper on bitcoin will probably answer your doubts. 

We also know that nowhere in the white paper of the bitcoin has encouraged the users to be the speculators, trading and investing in bitcoin with the hope to be a crypto whale and being a millionaire overnight. 

And according to the report, Satoshi's bitcoin, (BTC) which is the daddy of all alternative coins is widely global use. As of 2021, about 106 million people around the world use cryptocurrencies, and about 46 million among these people are Americans. 

There are 1583 cryptocurrencies listed on coinmarketcap.com, which is more than all the different fiat currencies in the world. Just nine years ago, there was only Bitcoin, but now we have cryptocurrencies in virtually every sector of the economy. 

It needs to say again someone (or a group of 'people that goes by the pseudonym Satoshi Nakamoto launched that Bitcoin in 2009), in the wake of the 2008 global financial crisis as a way for people to control their money themselves, without having to rely on companies, banks, or governments and their fees and controls. 

Nowadays, opportunists, unscrupulous traders misused the facility of cryptocurrencies for their illegal activities; money laundering through cryptocurrencies, including online gambling activities. 

As to the real investors of cryptocurrencies today, we could divide them into two categories; retail investors and institutional investors. 

The institutional investors, do not use their own money but invest other people's money on their behalf, while the retail investors, also known as individual investors, are non-professional investors, or anyone who doesn't do investing as a career, these people are called as retail investors.

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Anyhow, both categories investors are risky, but also potentially extremely profitable.

Suthep Chaviwan

WARNINGS: You have to study and evaluate the pros and cons before investing in these crypto-assets. You may lose all of your investment overnight or become richer in the level of US$ millionaires overnight depending on how many cryptocurrencies you have in your e-wallets and how much you have invested.

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