Bitcoin pioneer Jeff Garzik says Bitcoin is “Unquestionably successful” as a store of value

The Bitcoin pioneer (BTC), Jeff Garzik, has said that although the main cryptocurrency has not become a means of payment as he had foreseen, it is still “undoubtedly a success” as a store of value, in an interview with Bloomberg on November 9.

Speaking shortly after the tenth anniversary of Bitcoin, Garzik – reportedly the “third largest contributor” to the Bitcoin code and one of the main contributors to the creator of Bitcoin, Satoshi Nakamoto – told the publication:

“It has not evolved in the direction of high-volume payments, which is something we thought of in the early days: getting traders to accept Bitcoins, but on the side of value reserve it’s certainly a success.”

Bloomberg cites a recent study by the blockchain intelligence company Chainalysis that suggests that the use of Bitcoin as private money in commerce is in decline, even though its popularity as an asset – such as digital “gold” – has attracted great attention. the investors.

Baffled by the twists and turns of the project’s evolution, Garzik said: “Bitcoin is an organism, it’s something that evolves.” Then he adopted a solicitous tone, commenting that, “as a father, I enjoy watching my children grow up, even when they make mistakes or grow in ways I would not expect.”

As Bloomberg points out, Garzik began writing software code for Bitcoin as early as July 2010, after reading an article in a blog about the still-nascent project. The article introduces the cryptoscientist at the time as “working remotely for the open source power plant Red Hat Inc. from a recreational vehicle parked on an empty lot in Raleigh, North Carolina.”

In the childhood of Bitcoin, Garzik, who is now 44 years old, supposedly communicated privately with Nakamoto via e-mail and in the Bitcointalk forum, before the highly mythologized and abrupt disappearance of Nakamoto in 2011.

Commenting on several hypotheses about the identity of the creator, Garzik said:

“My personal theory is that it’s the Floridian Dave Kleiman – it matches his coding style, this gentleman was self-taught – and the Bitcoin encoder was someone very, very smart, but not a classically trained software engineer.”

According to Bloomberg Garzik, in the course of its activities Bitcoin has given more than 100 million dollars (15,678 BTC) at current market prices. He refused to disclose his current assets.

Garzik continued coding for the Bitcoin project until 2016, and now sits on the boards of Bitpay cryptopayment processor, mining technology company Bitfury and Linux Foundation. He has also been a co-founder of the company Bloq Inc.

As a defender of the controversial strong bifurcation of Bitcoin SegWit2x in 2017, Garzik is no stranger to controversies in the crypto development community.

As internal struggles continued over solutions to Bitcoin scalability issues, SegWit2x was followed by another Bitcoin fork that generated the Bitcoin Cash asset (BCH). The community divisions have been revived this summer – this time through a strong Bitcoin Cash bifurcation – between the warring factions of BCH’s main client, Bitcoin ABC, and nChain, the blockchain development firm of Craig Wright – who previously he has referred to himself as the real Satoshi.

Wright was demanded notably this year for $ 5 billion for the heritage of Garzik’s favorite “Nakomoto”, David Kleiman.


 Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.


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