What is the significance of April 5 – Satoshi Nakamoto’s birthday?

cnbctv18.com:

Fourteen years after the launch of Bitcoin, the real identity of its aliased creator (or group of creators) Satoshi Nakamoto is still unknown. Crypto enthusiasts have been trying to dig out the identity veiled behind this name for years now.

They have built several theories around every single publicly available detail attached to this pseudonymous identity, including his/her/their birthday.Nakamoto registered his/her/their birthday as April 5, 1975, on the P2P Foundation. This is the platform where he/she/they first mentioned the conceptualization of the Bitcoin blockchain.If the date is valid, the blockchain creator just turned 47 this year.

If it isn’t, we are left with the obvious question, why did they list this specific date? Well, there are several theories floating around out there, but one seems to hold more weight than others.On April 5, 1933, President Franklin Roosevelt signed the Executive Order Number 6102, which is also known as the Gold Confiscation Act. It deemed the “hoarding” of gold coins, gold certificates, and gold bullion by American citizens illegal.Also Read:How is Bitcoin different from Bitcoin cash?According to this mandate, Americans were allowed a roughly one month to surrender the gold assets they owned to The Federal Reserve for a mere $20, which would be worth $436.5 today.

They were only allowed to retain gold worth less than $100.The motive behind this order was simple — to curb the household accumulation of gold. This is because, at that time, the USA followed the ‘gold standard’ for its currency.