Thursday, June 17, 2021

My letter to the SEC.

Good day. I, a United States citizen, would like to address File Number SR-CboeBZX-2021-019. My responses to the questions you raised are as follows:

  1. I do not believe that the proposed Trust and Shares would be susceptible to manipulation any more than any other ETF, and in fact, I believe it is far less susceptible. Unlike with commodities such as gold and oil, Bitcoin has a fixed, predictable supply. One new block is mined every 10 minutes on average, rewarding 6.25 BTC to whomever successfully mines the block, and a total of 21,000,000 BTC will exist. No more, no less.

Being that Bitcoin is decentralized and that changes to the protocol cannot occur without overwhelming consensus, it is not possible for malicious actors to increase or decrease the amount of supply that exists. Granted, anyone can add or remove liquidity from order books, but Bitcoin has a market cap of hundreds of billions of dollars. It's heavily traded at all times. The risk of manipulation is thus minimal at best.

In regards to the transparency of the Bitcoin market, it could not possibly be more transparent. Every on-chain transaction since the beginning of time is accessible by all. This makes Bitcoin absolutely, 100% suitable for an ETF. Those who want to can already hold things like GBTC shares or shares of companies like RIOT and MARA (as well as MSTR, TSLA, PYPL, et cetera). They loosely track the BTC spot price (some more than others), but investors are given additional volatility beyond that of the actual BTC price with these investments. A Bitcoin ETF would 100% solve this problem and protect investors.

  1. Bitcoin's market cap was under $10B for most of 2016. It lacked institutional demand at that time, and was in fact not far removed from the Mt. Gox debacle. Such an event is extremely unlikely to repeat itself now that the market cap exceeds $720B at the time of this writing (and it was over $1T earlier this year). Companies like Tesla and Square hold Bitcoin on their balance sheet. The market is much more mature, and it is mostly traded on reputable exchanges like Coinbase.

  2. Though Bitcoin is mostly traded on reputable exchanges, investors do not have the same protection they would have with an ETF because cryptocurrencies are not treated in the same way as stocks. There is a saying in the world of crypto: not your keys, not your coins. However, not everyone wants to be their own bank, so to speak, and there have been many instances in the past where people have lost their private keys and thus lost access to their Bitcoin. An ETF would bring the best of both worlds.

  3. In regards to the CME and Bitcoin futures in general, given the daily trading volume, it'd be extraordinarily difficult for a single entity to manipulate the market as you described. Macro factors such as inflation, threats of strict regulation and bans around the world, changes to the tax code, companies selling, or even comments from Secretary Yellen or Chairman Powell can negatively impact the price. Yes, people do sell on spot and also short Bitcoin in such a scenario. However, they do this with other things as well, and it's simply an investment strategy of getting ahead of something. Instances of the price spiking or falling off a cliff for absolutely no reason in the absence of these other factors are quite rare indeed.

The Bitcoin market is huge, and it is global. TSLA sold $150M worth of Bitcoin in order to see whether they could do so without significantly moving the market, and nobody would have had any idea if not for their quarterly earnings report. No one country is capable of dominating the Bitcoin market.

  1. Continuing with the point I was making previously, the amount of money it would take to actually manipulate the Bitcoin spot market through a Bitcoin ETF would be unfathomable. It would be so cost prohibitive that anyone who did try it would seriously regret it and would lose a lot of money. There are simply too many players involved and too much money involved for such a strategy to bear any fruit. 

Bitcoin is not the same as low cap altcoins, and should not be viewed as such. It's easy to lump Bitcoin in with the shenanigans that take place in those markets, but they're about as dissimilar as OTC penny stocks are to AAPL. 

It is absolutely true that the price that the Sponsor uses to value the Trust's Bitcoin is not particularly important. When Bitcoin is considerably less or more on any given exchange, arbitrage traders very quickly close the gap.

In conclusion, I am of the opinion that a Bitcoin ETF is long overdue. I hope you will agree.


[Thu, Jun 17 2021] TL;DR — Crypto news you missed in the last 24 hours on Reddit

r/Bitcoin

I put my entire savings 20,000$ into Bitcoin. With the intent to hold my savings in Bitcoin instead of fiat.

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"Politicians from Argentina πŸ‡¦πŸ‡·, Brazil πŸ‡§πŸ‡·, Panama πŸ‡΅πŸ‡¦, Paraguay πŸ‡΅πŸ‡Ύ, Uruguay πŸ‡ΊπŸ‡Ύ, Honduras πŸ‡­πŸ‡³, and Tonga πŸ‡ΉπŸ‡΄ all tweeted desire to pass #Bitcoin Bills similar to El Salvador πŸ‡ΈπŸ‡» in their home countries, and Lightning is the technology that will power it all."

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Make it a celebration: Today Bitcoin has officialy died 420 times.

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r/ethereum

Nvidia CEO: Ethereum Is Going To Be Quite Valuable, Transactions Will Still Be A Lot Faster

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This really puts ETH’s energy consumption in perspective.

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I make laser engraved posters and Ethereum is one of our most popular!

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r/CryptoCurrency

Mark Cuban experiences his first rug pull! Titan crashed from $60 to $2. If you see 50,000% APYs, you should to be doubting it's legitimacy, not aping in.

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The basics of Nano — why it’s such an exciting crypto

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General Motors May Start Accepting Bitcoin If There's Customer Demand

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r/btc

Our team is working on a bridge between Bitcoin Cash and Ethereum

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Bitcoin Cash is the 2nd most known cryptocurrency in the UK

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"The appeal of Bitcoin Cash for me is that the BCH blockchain is capable of growing to serve everyone, even those making less than $2 per day."

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r/SatoshiStreetBets

SPORTEMON-GO wins Moonshot Monday with 39% of the votes!

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Somehow this fits here. :)

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Ai ai ai…

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r/CryptoMarkets

World Bank rejects El Salvador request for Bitcoin help

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How to enhance the use of trading bots?

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Sharing my success in investing in an Altcoin called Crypton (CRP)

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r/CryptoCurrencies

Dallas Mavericks will issue NFT tickets next season, Mark Cuban says | CryptoSlate

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A mathematical look at how Bitcoin can potentially get past $50 million dollars a coin one day if it becomes the transaction settlement base layer for the global liquid asset market worth over $1.2 quadrillion

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PARSIQ Raises $3M in Strategic Venture Round Joined by Solana, and Others

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r/CoinBase

I like it here.

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PLEASE add the LOGO for HOGE FINANCE on Coinbase!

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Solana (SOL) to Debut on Coinbase Pro after Earlier Plans Were Halted by Technical Issues

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r/binance

The highest BNB price over the years. What's up in 2022?

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I was just searching for a life changing

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I've made a video guide about PancakeSwap Farming!

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r/Ripple

Great european fiat gateway for XRP

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Daily Discussion Thread 06/17/21 [Join FlareXRP Discord] - https://discord.gg/FlareXRP

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xrp desktop client

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r/litecoin

crypto is easy

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Litecoin is proud to support NASCAR driver Landon Cassill

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LTC (BEP-20) is now supported on Secret Network's bridge to Binance Smart Chain - this unlocks new private DeFi opportunities for LTC holders!

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r/Monero

Due to recent events, i request the overdue General Fund Transparency report to be issued ASAP

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Unpopular opinion: Monero having a centralized authority/ funding is simply wrong

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It seems to me that ironically, KYC exchanges delisting Monero from their platforms makes it much more convenient to buy from decentralized exchanges which is far more private in the long run.

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r/Stellar

Stellar Lumens (XLM) Gets on the List of Crypto Alongside BTC and ETH on CNBC. Mainstream Adoption Incoming?

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/r/Stellar Daily Chat Thread

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How can I set my websites up to accept XLM?

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r/cardano

Hoskinson: If they truly care about alternative energy, sustainability, carbon reduction, and carbon neutrality, you can’t be in a system where there is no built-in mechanism to constrain the energy consumption.

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I don’t understand, why is there a lot of hate towards Cardano?

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Why Cardano is Winning

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r/NFT

Crumbling Glory on Foundation by kashushu. Link in comments. (Modern cubism)

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My latest NFT available in the new exhibition on Sevens Foundation!

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MahaDAO to Launch Unique Stablecoin ARTH on Polygon, BSC & ETH - particpiate in launch and win NFTs

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Talked with my dad about crypto now he wants to join the darkweb

Recently i talked with my Dad about Bitcoin, the reason why is because i like the decentralized and mathematical Idea behind it and i trust my Dad like no other Person.

He has no intention to buy some Bitcoin though, he is more facinated about the peer to peer system and especially the Dark Web. I understand his point of view he thinks the news now a days are just a big joke and he deperatly needs a more trustable source like we all do.

So i was wondering if you guys have some ideas, what are the most common decentralized information pages you can find out there ? Wouldn't it be a great idea to combine the crypto technology with a peer to peer system where the people confirm x event for example on the blockchain ?

And should i be worried, the last time i searched thorugh the dark net was years ago, even before the silk road shutdown ?

I am familiar with Hidden Wiki and the Page where you can find amlost any books as a downloadable PDF.

Comments appreciated

​

thelovetoy


HotNft is about owning and selling porn. Working Streams that run on the smartchain. Launch is 7 pm UTC

First of all most important is to do your own Research!!!

If you just want fast informations and aping in here are the most important informations

πŸ‘‰ Check out the new site - https://www.hot-nft.com/πŸ‘ˆ

πŸ‘‰ Join the Telegram - t.me/hotnftcrypto

First of all here is a Introduction to everyone in the Dev Team Andi Andi decided to invest into cryptocurrencies when the average believed that Bitcoin is a scam and will go to zero. He made his Doctor of Philosophy (PHD) in Bristol and was able to learn a lot about blockchain in his free time. He always had the dream to create his own cryptocurrency or play a big role in one of the leading cryptocurrencies worldwide. While learning about cryptocurrencies he saw that honest and successful people like Vitalik or Charles Hoskinson are earning a lot of money because they don´t leave their project and keep it alive. He noticed that there are already cryptocurrencies solving a lot of real problems and that just a normal cryptocurrency with smart contracts wouldn´t do the job. That´s the reason he decided to launch on the Binance Smartchain and focus on a cryptocurrency that targets the porn market. Leo Leo is from Switzerland and had his own Ice cream store called Icy Flavory which worked really well because he used targeted facebook and google ads to let people know about his special ice flavors. For example he even sold an vodka lemon ice, chocolate cake ice and his famous monkey ice for children which had a cute monkey logo on the waffle combined with a banana on top of the ice cream. He sold the store for 1 Million Swiss francs and moved on to use his learned marketing skills for other projects. He met Andi and Amal through a game called Arma 3 where they played a couple of rounds together. Found eachother funny and while they had a talk together they learned that everyone of them has a unique skill that can be used to make a new project succeed Amal was born poor in India. Andi learned him to know through instagram direct messages where Amal told him that he is very poor but has a lot of experience in developing smartcontracts for cryptocurrencies because he believes in the future of crypto and that crypto can help the indian economy Launch Checklist (COMPLETED)

Official Website

Social Media marketing begun

Coin tokenomics implemented & contract deployed.

Whitepaper/Roadmap 100% complete

Moderation team put together, still expanding

Administration team including Community manager

Community events planning for release


Why HotNft and not a different project?

HotNft is already partnered with a lot of companies that are investing into it and want to have shares of the cryptocurrency. We already noticed that there are a lot of scams on the binance smartchain and people are already getting more pissed than ever before because of that. We really thought about rather

HotNft will have a min buy of 0.1 bnb and a max buy of 0.5 bnb to keep the shares equal We try to prevent as much whales as possible. Our deal with our partner works out like this: we have no dev wallet and no marketing wallet but we recieve 3 % as a fee to a wallet and use that wallet to payout investors, pay ourselves and pay marketing. We have a 5 % reflection to the holders and 2 % automatic liquidity to keep the volume high. We got a long list of marketing expertise and know how to keep volume high. We don´t plan to be forever on Pancakeswap V2 that´s the reason we already talked with Burgerswap and Bakeryswap to get listed on their exchange. These defi exchanges aren´t as well known than Pancakeswap but offer special marketing if you launch your token on their platform too.

This advantage will end up in a snowball effect because we already contacted coinmarketcap to get listed there after we reached 500 holders. Coingecko is already contacted but they didn´t answer.

Binance and other bigger exchanges are contacted too but they told us that they can only list us later on when their terms of use changed because they dont list porntokens right now

IMPORTANT - High Liquidity provides an easier experience to buying and selling and helps defending against whales Do your own research and keep it cool on the Bsc Smartchain


HotNft is about owning and selling porn. Working Streams that run on the smartchain. Owning and selling porn pictures of oneself as a NftVersion with simple confirmation steps and more. The Application is already fully functional and Devs are doxxed. Launch is 7 pm UTC

First of all most important is to do your own Research!!!

If you just want fast informations and aping in here are the most important informations

πŸ‘‰ Check out the new site - https://www.hot-nft.com/πŸ‘ˆ

πŸ‘‰ Join the Telegram - t.me/hotnftcrypto

---------------------

First of all here is a Introduction to everyone in the Dev Team

Andi

Andi decided to invest into cryptocurrencies when the average believed that Bitcoin is a scam and will go to zero. He made his Doctor of Philosophy (PHD) in Bristol and was able to learn a lot about blockchain in his free time. He always had the dream to create his own cryptocurrency or play a big role in one of the leading cryptocurrencies worldwide. While learning about cryptocurrencies he saw that honest and successful people like Vitalik or Charles Hoskinson are earning a lot of money because they don´t leave their project and keep it alive. He noticed that there are already cryptocurrencies solving a lot of real problems and that just a normal cryptocurrency with smart contracts wouldn´t do the job. That´s the reason he decided to launch on the Binance Smartchain and focus on a cryptocurrency that targets the porn market.

Leo

Leo is from Switzerland and had his own Ice cream store called Icy Flavory which worked really well because he used targeted facebook and google ads to let people know about his special ice flavors. For example he even sold an vodka lemon ice, chocolate cake ice and his famous monkey ice for children which had a cute monkey logo on the waffle combined with a banana on top of the ice cream.

He sold the store for 1 Million Swiss francs and moved on to use his learned marketing skills for other projects. He met Andi and Amal through a game called Arma 3 where they played a couple of rounds together. Found eachother funny and while they had a talk together they learned that everyone of them has a unique skill that can be used to make a new project succeed

Amal was born poor in India. Andi learned him to know through instagram direct messages where Amal told him that he is very poor but has a lot of experience in developing smartcontracts for cryptocurrencies because he believes in the future of crypto and that crypto can help the indian economy

Launch Checklist (COMPLETED)

  • Official Website
  • Social Media marketing begun
  • Coin tokenomics implemented & contract deployed.
  • Whitepaper/Roadmap 100% complete
  • Moderation team put together, still expanding
  • Administration team including Community manager
  • Community events planning for release

---------------------

Why HotNft and not a different project?

HotNft is already partnered with a lot of companies that are investing into it and want to have shares of the cryptocurrency. We already noticed that there are a lot of scams on the binance smartchain and people are already getting more pissed than ever before because of that. We really thought about rather

---------------------

HotNft will have a min buy of 0.1 bnb and a max buy of 0.5 bnb to keep the shares equal

We try to prevent as much whales as possible. Our deal with our partner works out like this: we have no dev wallet and no marketing wallet but we recieve 3 % as a fee to a wallet and use that wallet to payout investors, pay ourselves and pay marketing. We have a 5 % reflection to the holders and 2 % automatic liquidity to keep the volume high. We got a long list of marketing expertise and know how to keep volume high. We don´t plan to be forever on Pancakeswap V2 that´s the reason we already talked with Burgerswap and Bakeryswap to get listed on their exchange. These defi exchanges aren´t as well known than Pancakeswap but offer special marketing if you launch your token on their platform too. This advantage will end up in a snowball effect because we already contacted coinmarketcap to get listed there after we reached 500 holders. Coingecko is already contacted but they didn´t answer. Binance and other bigger exchanges are contacted too but they told us that they can only list us later on when their terms of use changed because they dont list porntokens right now

---------------------

IMPORTANT - High Liquidity provides an easier experience to buying and selling and helps defending against whales

Do your own research and keep it cool on the Bsc Smartchain


Does Bitcoin affect the price of Litecoin?

Hello everybody! I would like to share with you my concerns about Bitcoins and Litecoins. I wonder if someone can explain to me if the Bitcoin and Litecoins are correlated in some ways? Taking into account that Litecoin actually came after Bitcoin, and they have a lot of similarities.

​

I think you are already aware that Bitcoin’s recent dramatic fall followed up the fall of Litecoin. Besides, I don’t believe that everything is going to be over soon. I keep tracking the price for both Bitcoin and Litecoin, and the only thing I can say is that everything is so uncertain.

​

I’ve started my morning by checking the prices for both cryptocurrencies instead of having a cup of coffee. Honestly, the news about cryptocurrencies now wakes me up better than caffeine. Usually, I check the bitcoin graph first since I believe that they are tightly correlated. The chart clearly shows that everything is uncertain and unstable. Even for the past couple of weeks, the price has dropped and increased a couple of times.

​

​

https://preview.redd.it/oyt8v04hrt571.jpg?width=658&format=pjpg&auto=webp&s=e7515e39ccdec3ada290636834c7132e6b80bead

​

On the other hand, it seems like the situation on the market is trying to stabilize. Still, I have no idea what are factors caused this dramatic fall in the first place? Different news sources and social media tend to blame politicians and large corporations, sometimes even nations. I have absolutely no idea which source is telling the truth. It talks about how to find and analyze cryptocurrency signals. I hope I can find here some mature investors who can share their point of view on how it works.

​

Besides, if you check the graph of Litecoin, which I’ve posted below, you will see the price for Litecoin is keep falling. I don’t see any correlation between those two at the moment. Still, some sources keep saying that Litecoin is tightly linked to Bitcoin, while graphs say the opposite things. Or, perhaps it is just a short-term scale?

​

​

https://preview.redd.it/14qq5nkhrt571.jpg?width=690&format=pjpg&auto=webp&s=f19cd762c510aedb550881f100330f06a56b6a9c

​

Anyway, thank you for your time reading my concerns about cryptocurrencies. I would be happy to read about your thoughts and concerns regarding the current events in the crypto market.


Svetlin Nakov a.k.a. Satoshi Nakamoto - The Bitcoin Creator Revealed

​

The S.Nak. Github Book Poster

Associate Professor, Docent, Ph.D., Dr. Svetlin Nakov a.k.a. Satoshi Nakamoto, The Bitcoin Creator remains silent on the subject itself.

Creator and programmer (developer) of BitcoinBitcoin (BTC) together with his brother Preslav Nakov (ΠŸΡ€Π΅ΡΠ»Π°Π² Наков, some bio at Wikipedia here [1]**)**. He (Preslav Nakov) then obtained a Master of Science degree in Informatics (Computer Science) with specializations in Artificial Intelligence, Information and Communication Technologies from Sofia University in 2011. During his MSc studies, he worked as a teaching assistant at Sofa University and The Bulgarian Academy of Sciences (about [2]), as well as a guest lecturer at University College London during a visit in Spring 1999. Subsequently, he enrolled in the Ph.D. program at the Department of Electrical Engineering and Computer Science, University of California, Berkeley, partly supported by a Fulbright Program Scholarship. Under the supervision of Marti Hearst, he wrote a thesis on the topic of text mining from the Web and graduated with a Ph.D. in Computer Science from UC Berkeley in 2007.

Exactly on which day Svetlin Nakov (Satoshi Nakamoto) was born remains a mystery to the general public. The year of his birth is known well - 1980. The month too - June.

https://preview.redd.it/mc4829pzst571.png?width=1201&format=png&auto=webp&s=926bb13bc4f1fcf2e46531aeea1c8a41cce24891

He has written numerous free books in the fields of blockchain, programming languages, cybersecurity, and computational linguistics, and Svetlin Nakov [4] (alias Satoshi Nakamoto) was Awarded a Doctor of Philosophy(Ph.D) Degree in Informatics of Bulgarian Academy of Sciences (2010)/B.A.S. official website[5] / More info about B.A.S.[2]).He (Nakamoto - Svetlin Nakov) is about to finish his work in Cryptography For Developers[7], which he publishes in stages in Guthub[8]...Practical Cryptography for Developers is a modern practical open source (github) book about cryptography for developers with code examples, covering core concepts like:hashes[9] (SHA-3 [10] and BLAKE)**2** [19]#BLAKE2), MAC codes (like Hash-based message authentication code/HMAC/ and Galois Message Authentication Code (GMAC)[11], key derivation functions (like scrypt**,** Argon2), Key-agreement protocol s (like Diffie–Hellman key exchange (DHKE), Elliptic curve Diffie–Hellman, symmetric ciphers (like Advanced Encryption Standard (AES) and Salsa20, cipher block modes, authenticated encryption, Authenticated encryption (AEAD), Cipher suite (AES-GCM), ChaCha20-Poly1305 [12], Binary relation, asymetric ciphers[13] and public-key cryptosystems [RSA), Elliptic curve cryptography (ECC), Integrated Encryption Scheme (ECIES), I-SECG elliptic curve sect256k1, Curve25519), digital signatures (ECDSA [14] and EdDSA [15]), secure random numbers (PRNG [16],**CSRNG quantum-safe (quantum resistant) cryptography DApps,** Solidity**,** InterPlanetary File System (IPFS) by Svetlin Nakov and SoftUni Team, 2018, ISBN 978-619-00-0802-6.

Trivia

He is known for co-founding the Telerik Computer Academy[22] (together with his brother and powerful associates) and after that The Telerik School Academy[23] to teach children (students) in computer science.

In the city of Sofia, Bulgaria with his colleagues co-founded Software University Ltd. (SoftUni/Π‘ΠΎΡ„Ρ‚Π£Π½ΠΈ)[25]. Then, due to the increased interest of thousands of parents, he founded also a school named after him SoftUni Svetlina[26] (meaning Light, as Svetlin) - the first Private Vocational High School of Digital Sciences in Bulgaria the increased interest of thousands of parents, he founded also a school named after him.

Nakamoto's early years - a childhood spent with computers

https://preview.redd.it/5tdb5g47tt571.png?width=1201&format=png&auto=webp&s=21bc0eff64ec81372727fef089aef92dfd89e1df

Svetlin Nakov wrote his first computer program in 1991 in the programming class at the Center for Work with Children in Veliko Tarnovo. He entered the computer programming class at the age of 11 with many difficulties and reservations, because then he studied in 4th grade, and the code camp is for students from 5th to 7th grade. Along with him, his brother Preslav Nakov took the first steps in programming, often helping him with more complex tasks. Proto BootCamps at that time was a popular form of extracurricular education for students and covered all kinds of creative, technical, and sports areas such as dance, karate[27], ship modeling, aircraft modeling, chess, illusionism, folk art, and many others. Programming (coding) is one of the disciplines in which Bulgaria was a leader at that time in the former socialist block, with traditions in piracy, copying, and adaptation of computer hardware and software (as it happens today in China)., With two working factories for the production of computer equipment.

Nakov's First Software Program

The first program in programming code camps at that time was far from fashionable to be "Hello World", as neither teachers nor students knew English. At that time, the technical literature was mainly in Russian, coming from the fraternal side of the USSR, which boldly distributed pirated translations of leading world authors, but also had its contribution. Instead of "Hello World", Nakov's first program, written in 1991, was "number addition" - two numbers are entered from the keyboard, added up and the result is printed on the screen. It was written in a primitive version of the BASIC language for 8-bit Pravetz-82 computers [30]. Π’he computers from that time were Pravetz 82, Pravetz 8A, and Pravetz 8C (eights) and were a Bulgarian pirated version (clone) of the 8-bit Apple II machine, which works with MOS 6502 processor at 1MHz, has 64 KB memory [total RAM (Random Access Memory) [34]**+ ROM (Read-Only Memory)** [35]**]**, has no hard disk and loads its operating system from a 5.25” floppy disk with a capacity of 180 KB. They had a monochrome monitor (called a "green") that used green dots on a black background in 40 by 24 text mode, which was an integral part of the computer (along with the keyboard). Watching green monitors for a long time was not good for health at all, so children were not allowed to stand in front of the computer for a long time. For two years Nakov wrote to BASIC[32] and Assembler [31] about Pravets-8. BASIC programming Writing BASIC for Pravetz-82 was no easy task. There were no text editors yet and the programs were written as a series of console commands (such as LIST, GOTO, PRINT, INPUT, GOSUB, RETURN, RUN, CATALOG, and others). The program consisted of numbered lines with commands and the numbering was done in 10 so that rows could then be inserted. For example, if we have lines 10, 20, and 30 and need to insert a new command between lines 10 and 20, we can create a new line 15 and write the new command to it. Instead of a text editor and an integrated development environment (IDE), a primitive command interpreter and a Basic interpreter were used. Everything that could not be written in BASIC was written in assembler and entered as machine code.

I still remember writing assembler programs on paper and compiling them manually to machine code, then entering them as a series of decimal numbers separated by commas," Nakov said of those years. You can imagine how the debugging was done after the compilation was done by hand (without a compiler).

In those days, Nakov began writing BASIC's PopCorn game with friends for Pravetz-82, but soon the source code (several thousand lines) overflowed the memory of the computer he had and the project failed.

Nakov's first programming competition

Archaic programming competition During his first participation in a national programming competition during the winter math holidays in Pleven in 1992, Svetlin Nakov won 3rd place with a semi-working BASIC program forPravets-82. Some coincidence ranked him at the age of 12 in the top three in the 5th grade, when he first participated in a more serious national programming competition. After this success, Svetlin Nakov started studying programming firmly and seriously. In the 5th-6th grade, he read almost all the literature available at that time for programming in Bulgarian and switched to the classic Russian books on algorithms. At the age of 13, he already knows the basic data structures, recursive algorithms, the basic algorithms on graphs and easily solves the problems of the then competitions, tournaments, and competitions in computer science and programming (for his age group).

His Transition to Pravets-16 computer

Already at the end of the fifth grade, Nakov switched to programming Pravetz-16. He initially wrote to QBasic for MS-DOS, and a year later moved to Pascal [33]). For both BASIC and Pascal, he began winning most programming competitions for his age group. He prepares for the competitions together with his brother on the tasks for 12th grade and then easily solves the tasks for 5-7 grade. He was programming of Pravetz-16 with a text editor and development environment, compiler and debugger and a larger amount of RAM (640 KB) allow solving significantly more difficult tasks and implementing significantly more complex algorithms. This allowed Nakov to make significant progress and start writing not only algorithms but also application software (for MS-DOS).

Nakov-Nakamoto: Champion in Competitions and Programming Olympics

Champion of the Olympics with a cup Between the 5th and 8th grade at school Nakov is a regular winner of awards from competitions, tournaments, competitions, and Olympiads in computer science and programming. He often wins first place, and if he fails, he becomes second or third in Bulgaria. In the meantime, he read all the books on algorithms, data structures, and programming from the local libraries in Bulgarian and Russian and fell into a lack of teaching materials. At that time, the Internet had not yet entered and access to English-language literature was severely limited. He prepares together with his brother, but mostly on his own. Teachers from the programming classes, the local math high school, and the local university are not at the level of national programming competitions and are not able to help Nakov and his brother advance in programming (other than freeing them from chat-pats for hours on end). preparation at home). Thus, the two brothers teach themselves programming, mostly on a trial-and-error basis.

Nakov Wins Two Bronze Medals in International Olympiad in Informatics

https://preview.redd.it/zt398rhctt571.jpg?width=1181&format=pjpg&auto=webp&s=a58adacb66c6982440dfa0559b446a9ff7edc179

In fact, Nak(amoto)v won 4 bronze medals at the international computer science olympiads. The following (next to 1995) year, Nakov qualified for the Bulgarian national team and won a bronze medal at the Balkan Games in Cyprus (Nicosia ’96), 1996. At that time, all athletes without the 12th-grade students participated in the Balkan Games in Informatics. Everyone participates in the international Olympics and the struggle to get into the national team is harder. In 1997 and 1998, the Balkan Informatics Games were not held for political reasons. Thus, Nakov participated again in international programming competitions only after 2 years[36]. He won a bronze medal at the International Olympiad in Informatics in Portugal (Setubal’98). In 1999, he earned points for a gold medal at the Balkan Games in Greece (Ioannina ’99), but due to a wrong translation, one task was canceled and he was awarded a bronze medal again. At the International Olympics in Turkey (Antalya ’99), Nakov once again won a bronze medal. meanwhile, the computer specialist known at that time, not only in Veliko Tarnovo, won many national tournaments, competitions, and Olympiads in informatics and programming and at the same time dealt with applied programming. At that time there was no IT Olympiad and his performances in the field of applied programming were less.

Nakov writes to Delphi with databases in 9th grade

Borland**Delphi 2** [38]) - 32-bit Delphi for Windows 95 A year later Nakov already writes in Delphi and uses databases and SQL. At the time (1996-1997), Borland Delphi was an unsurpassed (IDE [39]) environment for rapidly developing graphical user interface applications under Windows. Borland's Visual Component Library (VCL [40]) is very similar to Microsoft Windows Forms, and Delphi allows the use of component-oriented visual programming. At that time, Microsoft still had no analog of Delphi and lagged behind the market for rapid software development tools with its primitive development environments Visual C ++ and Visual Basic. A few years later, Borland was late and Microsoft bought their chief architect, Anders Heijlsberg, who then took the lead in inventing and developing the.NET platform. Amid the transition to democracy, companies that exchange currency legally in their offices and replace the so-called money changers (thugs and swindlers who exchange currency on the street) are emerging. At the request of some companies from Veliko Tarnovo Nakov creates modern (for his time) software for managing an exchange office. It is written in 32-bit Delphi for Windows 95, uses SQL and Paradox (database),) and allows you to set exchange rates, perform currency exchange transactions, print receipts, track movements, cash register, operators, revenue, expenses, and more reference.

Nakov works in a software company for a salary in 10th grade

When studying in tenth grade, Nakov was invited to work for a local software company that develops software for BTC (Bulgarian Telecommunication Company PLC[41]). Nakov started working in the company's office on a part-time basis and at the same time went to school. This was done secretly by the teachers in the high school because at that time it was perceived as something wrong for a student to work. Gradually, Nakov began to earn his own money by developing software, which gave him relative independence from his parents.

Nakov became a hacker in 1998

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In 1998, the Internet slowly began to enter Bulgaria. Nakov won a modem race at a speed of 14,400 Kbps. Then Internet access is insanely slow and terribly expensive. Nakov pulls at speeds from 1 KB / s to 3-4 KB / s and hacks local ISPs to access the Internet for free. Later, Nakov learned network programming and wrote software for security testing and penetration testing tools for research purposes. Due to the lack of legal restrictions at the time, he had the opportunity to experiment freely with the development of viruses, Trojans, and tools for DDoS [43] attacks. In 1999, Nakov gained the fame of a famous hacker in Veliko Tarnovo and the region after his experiment with proprietary DDoS tools made the Internet access of the entire city very difficult and almost stopped in a few weeks. After this incident, he was given free internet to leave users alone. With the advent of the Internet, access to modern computer books and teaching materials gave a new impetus to the development of Nakov as a programmer, programming competitor, and software engineer. He also learned other programming languages (C [44]**, C++** [45]**, Java** [46])), started making websites, and learned to develop complex software systems. In 1998, Nakov bought the domain nakov.com and made his own website

Nakov created his own magazine for computer algorithms - Infoman...

..**Short CV of Svetlin Nakov** (a.k.a. Satoshi Nakamoto) HERE [47]

Meanwhile, Nakov (Nakamoto) Rejected a Program Manager Position at Microsoft Dublin after a Successful Interview at Microsoft.

Microsoft - Dublin 2008, Svetlin Nakov was invited by Microsoft to work in their development center in Dublin, as part of the Microsoft Office team, in a managerial position. Such offers often come to him, but he does not pay attention to them. One day he went to an interview in Dublin at the insistence of his friends, without any interest in a position at Microsoft. He passed the interview successfully, impressed the interviewers and they invited him to work for them. For better or worse, Nakov does not want to leave his job in Bulgaria, which brings him a better quality of life, and refuses[50].

Gradually, over time, he revealed his long-hidden passion for cryptography and blockchain...and Philantropy

Creating DApps with Ethereum, Solidity, Web3 and MetaMask [58];

Teaching the Blockchain Dev Camp Sofia (Jan-March 2018) – Intensive 240 Hours Training [59];

Algorithms for decentralized consensus - Nakov @ jProfessionals [60];

Blockchain Cryptography for Developers: ECC, secp256k1, SCrypt, AES, Wallets [61];

Speaker at the Blockchain**** Technology Conference 2018 | Berlin[62];

Multi-Signature Crypto Wallets: Nakov @ SoftUnit Conf 2018 [63];

Crypto-Wallets: A Technical Perspective – Nakov @ OpenFest 2018 [64];

Speaker at BlockWorld 2018: Client-Side Wallets and Cryptography [65];

CryptoBlockCon 2018 (11-12 December Las Vegas**)** [66]...

...and so on...

Along with his successful business and great respect in his boot camps, Svetlin Nakov, more popular worldwide, but hidden by his pseudonym Satoshi Nakamoto - the Guru of Bitcoin and blockchain, did not abandon his philanthropic inclinations and for many years continued to conduct free trainings, courses and seminars, including as a computer messiah in places after places everywhere in Bulgaria:

Free programming courses for absolute beginners in 28 Bulgarian cities and towns [67];

Free programming school for children (grades 3-6) in Sofia - Bulgaria [68];

Free courses and lectures: ASP.NET MVC and Cross-platform mobile applications [69];

Free courses and trainings at the Telerik Academy: for job seekers, students, pupils, and children [70]…

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To be continued

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Subject: Nakov Svetlin/Π‘Π²Π΅Ρ‚Π»ΠΈΠ½ Наков is not Satoshi Nakamoto Refutation

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