Bitcoin’s founder to receive a statue in Budapest
It will be the first-ever statue of the cryptocurrency’s creator.
The Hungarian capital is full of beautiful and robust works of art. Just think about the Heroes’ Square or the Buda Castle. Or the rainbow-coloured replica of New York’s Statue of Liberty that was erected in Budapest at the beginning of this year. This particular statue had a very short life.
BLM statue: fenced, covered in paint, demolished, smashed
Let’s hope that this new initiative, even if not commemorating a famous Hungarian, will have a happier future.
The idea is especially interesting since the founder of bitcoin, Satoshi Nakamoto, more precisely, his persona is unknown to the world.
The statue made of bronze will be erected in the Graphisoft Park, in a green environment where anyone can go and see it for free. The abstract work of art will be community-funded by the most important members of the Hungarian crypto community, such as the Kripto Akadémia, two members of the MrCoin crypto money changer and the organiser of the Budapest Blockchain conference, among others. Moreover, a community financed campaign resulted in the cooperation of 27 organisations and private figures, giving over 3 million forints for carrying out the plan. News around its creation already hit international media platforms, entrepreneurs.com and Fox News, for instance, both reported on it.
The idea for such a statue came from András Györfi, who told Szeretlek Magyarország, that
it is not bitcoin that stands in the centre of his initiative, but the technology itself around which the whole system is built.
As he says, “The blockchain technology is a perfect solution in so many fields: health care, logistics or delivering aid or assistance for those in need. It is a database that gives a level of safety and protection incomparable to previous databases. It is tough to manipulate, almost impossible. When it comes to finances, it brings decentralisation, meaning that there is no need for a central bank, a state or a company … All this is the merit of its founder. He brought and will bring a huge value to the world. That is why I thought he deserved a statue.”
Satoshi Nakamoto is actually not the creator’s real name, about whom we do not know anything. We have never seen the face that belongs to this name, and we do not even know whether there is a man or a woman behind the name. For this reason, the statue will be made in a peculiar way.
It will depict a person wearing a hoodie, having a very general body form.
As András thinks, we are all Satoshis, so the statue’s face will be made from a bronze-aluminium substance polished to perfection to mirror everything around it. This way, when you stand in front of it, you will see yourself.
The statue has been in the making since April by the hands of Réka Gergely and Tamás Gilly, so it will be ready in a matter of weeks.
Even though we do not know who Satoshi is, we know that his colleagues knew him. Moreover, one of them is Hungarian; he is called László Hanyecz. And another man, Nick Szabo, whose parent left Hungary in 1956 and with whom he did not directly work together, but used his work as a basis.
Read alsoThe Puskás statue in Melbourne collapsed in 4 years
Source: szeretlekmagyarorszag.hu, telex.hu
The person who created Bitcoin has never been verified. So far 3 people claim to be to the inventors but no one knows who really invented it. Surely the money (real, not Bitcoin) could be used more wisely?
My first thought was:
Who is the insane individual who could come up with an idea like that.
A five year old?
Total lack of logic and a waste of resources.
Govtts,besides PRC,face an existential threat from Bitcoin and Cryptos ! It is not that it rivals the USD – that is nonsense.The threat to PRC has evaporated,as COVID has busted banks and economies all over the world,and PRC is relative much better.Therefore,there is NO INCENTIVE for Chinese to BUY BTC,besides speculation – for which the door to Macau is open – as the casino profits – then come back to PRC !
The REAL BTC threat is that it BYPASSES THE banking system ! It is not that the banks will collapse and people will withdraw their money from the banks – and take a red eye to BTC ! That also,is not likely in the short term.
The threat is that trade and commerce will BYPASS THE BANKING SYSTEM !
If A sells to B in POS store or online or by a wire transfer – the money goes to his bank – irrespective of FX chosen.Cash can be hoarded,of course, but up to a limit
Once the money hits the banks – then the trail is set ! EVEN IF THE PAYER IS NOT TRACEABLE – the recipient is screwed .Besides FATF – he comes in the Direct and Indirect tax net ! It is this tax net which feeds the corrupt government and politicians.
So in a trade through BTC or other CrC (Crypto Coin),the Govtt loses the entire revenue on that supply chain and value chain – FOREVER – and that will catalyse more and more of such trades.In fact it will start a BTC supply chain – with its tech platforms – wherein manufacturing upto a limit – will NOT PAY ANY TAXES TO the government.
The advantage to the buyer of the goods is that ,he get the items free of VAT or taxes – so it is 10-20 % cheaper,and he has anonymity of payment (if not of purchase)
AND THEN,THIS WILL BANKRUPT THE STATE AND THE BANKS (AS ALL THIS LIQUIDITY WILL EXIT THE BANKS AND WILL ALSO DESTROY BANK SOLVENCY AND THE MONETARY POLICY OF THE FED -AS INTEREST RATES AND CREDIT POLICY,WILL NO LONGER BE A LEVER FOR ANY ECONOMIC DECISIONS AND OUTCOMES !
That is the EXISTENTIAL THREAT TO THE WORLD AND ESPECIALLY TO THE “USA”.
Take the case for India – the Bad assets are USD 400 Billion USD and COVID has aided the banks in hiding more !
It is CERTAIN THAT THE GOI WILL DEMONETISE BANK DEPOSITS ACROSS THE BOARD TO OFFSET THE LOAN LOSSES !
Y WILL PEOPLE PUT MONEY IN BANKS ? The same is the story in most parts of the world.
BTC supply comes from LOW COST POWER NATIONS
BTC demand comes from INEVITABLE DEMAND WHICH IS EXPECTED from BUSTED NATIONS LIKE INDIA – AND SPECUALTORS IN THE US/EU PUNTING ON IT
BTC THREAT COMES FROM THE USA and EU – the existential threat ! BTC is not a threat to PRC !
AND THAT IS WHAT MAKES IT A PERFECT INVESTMENT BET ! dindooohindoo
COULD IT BE THAT THE US AND EU ARE USING BTC TO TRAP INVESTORS,INFLATE THE BALLOON AND THEN BLOW IT UP ? THAT WILL WIPE OUT THE
SPECULATIVE LIQUIDITY IN THE ECONOMIES – AND THE WEST CAN DO A FALSE FLAG – LINK THE MONEY TO CRYPTOS – AND THEN USE THAT TO BLOW IT UP !
FOR HUNGARIANS – BTC OFFERS SOME CAPITAL RISK,HUGE UPSIDE AND COMPLETE ANONYMITY !
IT IS A NO BRAINER !
COVID WAVE 3,4 AND 5 ARE COMING 1
SPEAKING OF PEOPLE WHO WOORY ABOUT THE CARBON PRINT OF BTC
THE SOLUTION IS TO MINE BASED ON POWER FROM HYDRO, IN THOSE NATIONS,WHERE THE OPPORTUNITY COST OF POWER IS LOW, IN TERMS OF THE ECONOMIC OPPORTUNITY COST,FUSED WITH ENVIRONMENTAL COSTS
SO A NATION WHICH HAS ALMOST FREE HYDRO POWER, IT CAN USE IT TO MAKE STEEL AND ALUMINIUM OR MINE BITCOIN ! WHAT WILL IT CHOOSE ?
THE CHOICE IS CLEAR !
THEN COMES GEO THERMAL ,SOLAR AND WIND ! IF A NATION HAS THESE SOURCES IN ABUNDANCE – BUT NO VIABLE MANUFACTURING OR EXPORT SECTOR – THEN WHAT TO DO ? MINE BITCOIN !
THEN WE COME TO NATIONS WHEREIN COAL IS IN ABUNDANCE,BUT THERE ARE NO CEMENT OR POWER PLANTS. WHAT IS THE BEST USE ? BITCOIN !
SO THE 1ST OPTION IS MINING BTC , AND THEN THE NEXT OPTION LIES IN HOSTING THE SERVERS ,WHICH HOST THE CRYPTO TRANNSACTIONS ! dindooohindoo
FOR HYBRID OFFGRID RENEWABLES WITH DIESEL POWER BACK UP – WHICH ARE OFF THE GRID – THE “ONLY VIABLE USE” IS BTC ! AND THE SAME APPLIES TO BASE LOAD POWER PRODUCED BY IPPs – THAT SUPPLY CAN ONLY BE ABSORBED BY BTC AND ALSO LOWER THE POWER COSTS TO THE IPP !