Sunny Jain April 3, 2020
Here’s the detailed information about Satoshi Nakamoto aka “THE GOD OF BITCOIN”
Satoshi Nakamoto is a great name who brought the bitcoin into reality and made it a great success. He is the one who implemented bitcoin on real aspects and slowly and steadily earned the name God of Bitcoin. There are many research processes in pursuit to solve the real mystery about who is Satoshi Nakamoto.
This name is now legendary, and people tend to make stories about him. After the bitcoin invention, Satoshi Nakamoto went to disguise. He improvised the necessity of a digitalized currency to meet the modern needs of the world. It was the type of currency that the world never experienced before Satoshi brought it up.
It is said that Satoshi’s mission on bringing bitcoin up into the global presence was to eradicate the problem of double-spending. Seeing this new asset development, many companies started to improvise the idea and become the competitors of it. January 2009 was the date when he launched the 0.1 version of the cryptocurrency. It is done after implementing the required codes and completing the launch process by genesis block mining.
After this date, the process seemed incomplete to Satoshi, and the founder kept working on it to optimize it further. It shows the efficiency and dedication of this man towards developing something new for the global market. It took him another year and a few months to completely engage the bitcoin for active development.
Though there is no true evidence about the confirmed birth date and nationality. As per the sources, Satoshi Nakamoto was born on 5th April 1975 in Japan. According to sources, he is Japanese by nationality. Some of his extra-ordinary works also include blockchain implementation. Here you will know about all the details associated with Satoshi Nakamoto and Bitcoin. Follow this article till the end to get detail insight into the ‘God of Bitcoin.’
Development And History Of The Bitcoin
Satoshi Nakamoto gave a statement where he mentions that the coding work for making the bitcoin began back in the year 2007. As per the sources, Satoshi was not alone and was working with one of his colleagues. In the year 2008, Satoshi took the first step by registering the domain name for the upcoming invention as bitcoin.org.
With this step, now they created a website with the same domain. Amidst all these processes, Satoshi Nakamoto released a paper published on the topic of cryptography. It had the title “Bitcoin: A Peer-to-Peer Electronic Cash System”. In this paper, he managed to cover all the relevant points about the true efficacy of the digital cryptocurrency.
The first version of bitcoin launched with Blockchain 0 came with a reward of 50 bitcoins. Later on, Satoshi Nakamoto partnered with many developers to optimize the source code. It made the bitcoin software more efficient after the implementation of all the modifications. This process of modification was completed in the mid of 2010. After the active development and smooth running of bitcoin, Satoshi Nakamoto handed over the control of the software to Gavin Andresen.
After him, Gavin was going to take care of the source-code repository and the network alert key. Not only that, but Satoshi also transferred many other major controls to dedicated members who have served in the making of bitcoin. He took a farewell from the bitcoin community and preferred to stay away from recognition and other such project involvement.
As per the records so far, Satoshi Nakamoto uses his available bitcoins for almost nothing. The only movement recorded was for the test transactions in March 2020. It is the only activity on Satoshi’s coins since 9th January 2009. Back in the year 2017, the value of the bitcoin was at a peak.
The amount of bitcoin Satoshi has could have totalled up to $19 billion back in the year 2017. With that, he could have joined the race of the billionaires and become the 44th richest person in the world. But these are just possible facts, whereas true scenarios are somehow different as Nakamoto’s bitcoins remain unspent.
Satoshi- smallest unit of bitcoin
Satoshi, named after the founder of bitcoin, Satoshi Nakamoto. It is probably the smallest form or unit of the Bitcoin. In the world of cryptocurrency created by Nakamoto, 100 million satoshis are equal to one bitcoin. Satoshi is to help people make smaller transactions by using these small units. As per the sources, back on September 28, 2019, the value of 12,270 Satoshi was equivalent to $1.
After the invention of bitcoin and digital cryptocurrency, the idea of making smaller units with the name of Satoshi does not sound like a big deal. Satoshi is not any form of physical currency version and is completely present in the digital world. But the concept is taken from the physical currencies, and therefore bitcoins break down to smaller units naming it ‘Satoshi’. It is just like Pounds break into pence and others. Satoshi is a mysterious man and has no clear stated identity so far. The introduction of the bitcoin and its units helps the people prevent double-spending. It allows the owners to use it in multiple transactions.
The main motto of creating the smallest unit of the bitcoin, Satoshi, is to help the users make easy transactions. Smaller the denominations, easier is the transaction process. The bitcoin units are broken down into an order that states one bitcoin is equal to 1000 million-bitcoins. It breaks down further to 1,000,000 microbitcoins that are equal to 100,000,000 satoshis. There are no evident records of the count of bitcoins that Satoshi Nakamoto possesses. But as per the resources, the approximate figure that Satoshi has is around 1 million bitcoins. By breaking it down this figure is equivalent to 100,000,000,000,000 Satoshis.
If the Satoshis or the bitcoins are not in pairs with any other major currency, then they can easily convert to & from any global currency. The exchange of these bitcoins is permissible for making the transactions easier. The exchange rates will be the same as settled by the established currencies. The bitcoin or Satoshi value will eventually fluctuate depending upon the demand and supply. Satoshi Nakamoto did not plan on bringing out cryptocurrency and bitcoin in the physical form. It is so for an idea to keep it more secure in the digital platform. Bitcoin or Satoshi will also fail as the global physical currency because they are not accepted in the daily transactions.
Different Peoples who possibly Could be Satoshi Nakamoto
Satoshi Nakamoto is a mystery man, and he has not disclosed his true identity to the media or public, No one knows about his looks or address. He has managed to stay out of the limelight and hide in disguise. The media and other officials are continuously in search of him and have listed down a few names who they expect to be Satoshi Nakamoto.
The latest person who is probably Satoshi Nakamoto is Dorian Nakamoto, who shares a friendly attribute with Satoshi. People are truly addressing Dorian as the creator of Bitcoin since 2014. A new magazine mentioned this news and took all the public hype. Dorian clears this in an interview that he has no connection with any kind of bitcoin development but was a mascot in the community.
More evidence was collected on behalf of Dorian. The facts say that Dorian was originally born with the name Satoshi. There are many other things and facts that point towards Dorian being the real Satoshi Nakamoto. Keeping this aside, there are few names that joined this quest to find the real Satoshi Nakamoto. Here are some of the names who are also expected to probably be the real Satoshi:
Vili is the first person who was into consideration of being Satoshi back in the year 2011. His name was mentioned in one of the articles of New York. There are many relevant facts that make his records match Satoshi’s. Though there are some mismatching facts as well, that again raises a bar of doubt whether the assumption is correct or not. Some such facts include that Vili stated in an interview that he has no knowledge about cryptocurrency. He meant his statement very strongly. He adds to it by saying that his programming skills are too dull for being able to create bitcoin.
Paul Le Roux is the second probable guess to be Satoshi Nakamoto. If it is true, then bitcoin came to existence by a goon. Paul Le Roux has accusations of many crimes such as drug smuggling, nation-building, gun-running, pharmaceuticals, encrypted-software creation, and others. Paul Le Roux has the required knowledge that makes him a viable option to possibly be Satoshi Nakamoto. But the negative points that deny this fact is that when Satoshi’s work on bitcoin began in 2009, Paul Le Rous already emerged in drug smuggling and other crimes making the two scenarios highly different.
As per the records, Gavin Andresen is the person to whom Satoshi handed over some of the controls of bitcoin before he went off the record in 2010. People are taking this chance to believe that these two persons are the same. A practical study also states that Gavin Andresen’s writing style is very closely similar to that of Satoshi Nakamoto’s. So, it is a strong fact that both the names might be of the same person.
Gavin Andresen after got official control, creates a bitcoin faucet back in the year 2010 to offer five bitcoins to the users who visit the site and complete a captcha process. Such impactful decisions are also indicating the smart find of Satoshi. There is no confirmed news so far for which we can only assume things and cannot conclude.
As per the evident records, Hal Finley is the first person to respond to the mailing list of Satoshi Nakamoto after the announcement of Bitcoin. It is also evident that Hal Finley is the first person to avail the bitcoin transactions. Hal knowns bitcoin more than anyone else sharing resemblance with Satoshi.
To the astonishment, Andresen wasn’t the only person whose writing is similar to Satoshi’s, but Hal Finley also has the closest resemblance in writing. This got approval by analysis experts that raise more confusion. Satoshi left no trails of finding him, and availing bitcoin transaction post conversing over mail is a loophole that Satoshi can never afford. Therefore, Hal Finley might not be the person people are looking for.
Nick Szabo is a computer scientist and was working on some ‘bit gold’ project that is very much similar to that of Bitcoin. Szabo holds the highest qualification in this list of peoples to be the actual Satoshi Nakamoto. In the year 2008, Nick also gave an announcement in one of his blogs to make a live version of his concept ‘Bit Gold”. After a few months of this activity, Bitcoin took place in the digital currency market. Nick constantly denies this statement of being Satoshi.
Bram Cohen shares the same birth year as that of Satoshi, and the facts say that Bram was very much fond of bits long before Satoshi Nakamoto bitcoin came to existence. Cohen wrote a book in the year 2009 about hiding identities online and spreading digital signatures all over the place at the same time. Bram’s thoughts and his ideologies are somehow relating him to be the real Satoshi. Bram also has a keen interest in recreational mathematics, making him a liable person on the list for possibly being Satoshi Nakamoto.
Craig Wright is a 48-year-old male who is claiming to be Satoshi since 2016. There is no practical evidence that shows any connection between them, but he is probably not the Satoshi people are looking for. He is on this list because of his claims of being Satoshi, forces the officials and experts to look through his personal life to get the correct information. Craig Wright claims that he is the answer to the global question, “Who is Satoshi Nakamoto?”. But it is one of the most irrelevant names on the list.
Though Dave is no more since 2013, he is also one of the liable candidates who has been on the list with few pieces of evidence of him being Satoshi. There is a record of Dave working in an encryption software company working on some serious projects. There is no strong evidence so far that can state Kleiman as Satoshi, but still, he is one of the probable options as Kleiman was one of all the members whose response came to Satoshi’s mailing list.
These are just a few of the many names that are possibly the God of Bitcoin, Satoshi Nakamoto. One of the big names that are also surrounding by this hype is Elon Musk. Elon Musk gives a statement in January 2020 that Bitcoin is not his safe word to play with. Elon Musk does have the qualification and the knowledge to develop cryptocurrency from almost nothing. But still, he denies this fact.
Is Satoshi Nakamoto Dead?
Some of the people are raising questions on whether Satoshi Nakamoto is even alive or not. The CEO of BitMEX, Arthur Hayes, says in an interview that probably people will have to live in suspense for who create bitcoin as Satoshi is probably dead. This statement was huge, but to confirm Satoshi Nakamoto dead news, people first need to know the identity of the person.
Without the identity reveal, these death claims can only be assumed as either true or false. Unless people know the real name or identity of Satoshi Nakamoto, he is immortal within his creation. His disguise is widely appreciated by the public as he decided to stay from the recognition that he truly deserves.
Arthur also adds to his statement that there is a high chance that Satoshi’s identity can now never be revealed. It is so because even if someone learns recreational mathematics and cryptography to prove their point of being Satoshi by signing the wallet that Satoshi owns, there will always be a possibility that the wallet might have been stolen from him. Another possibility about the ‘God of Bitcoin’ made by Arthur was that the name Satoshi Nakamoto might be a group of individuals expert in cryptography rather than being a single person. It might be one of the reasons for which identifying the creator is getting difficult with time.
Net Worth of Satoshi Nakamoto
Satoshi Nakamoto possesses around one million bitcoins, and to be exact, they are around 9,80,000 Bitcoins. These bitcoins, when converted to the present value of $9,913, Satoshi Nakamoto net worth becomes $9.716 billion that makes him a super-rich personality. Satoshi has never used his bitcoins except for one test transaction since 2009.
The peak value for bitcoin went up of $14000 at times, according to which the net worth of Satoshi could become $13.72 billion. The price of the bitcoin is expected to receive a major hike of up to $100,000 in probably the next three years that will total the net worth of Satoshi over $98 billion. If it happens then, Satoshi Nakamoto will be the second richest man in the world after Jeff Bezos, CEO, and Founder of Amazon.
Satoshi Nakamoto Bitcoin Address
Satoshi Nakamoto might have a couple of Bitcoin addresses that are stored in the Tulip Trust. For retrieving the information related to the Satoshi Nakamoto BTC address, the researchers need to check on the first block names genesis-block 0. The first transaction in the form of rewards of 50 Bitcoins was stored in an address. Therefore, this Satoshi Nakamoto bitcoin address is designated as the creator’s address.
This address is now presently having around 70 Bitcoins that equals to half-a-million dollars. There is a record of over 2000 transactions over this address. The availability of fewer coins raises questions about the credibility of this account being Satoshi’s. It is evident that the identified address was initially used. So, as per the researcher’s verdict, Satoshi used the first block for the test rounds and then changed to another address to store his bitcoins.
Satoshi Nakamoto Bitcoin white paper
The Bitcoin White Paper got the name as Bitcoin: A Peer-to-Peer Electronic Cash system that was published back in the year 2008 by the creator and god of bitcoin. The Satoshi Nakamoto white paper helps the people consider their money for a higher value. Satoshi Nakamoto paper explains the people about what is bitcoin and how it works.
The Satoshi Nakamoto Bitcoin paper is generally a guide that discusses the efficiency of the third parties on processing the electronic version of payments. The paper also states that the involvement of third parties will ruin the efficacy of electronic payments. It is so because the third-party electronic transactions can be reversed due to any kind of disputes in the bank process. To give a clear insight into it, the bank’s intervention adds more transaction costs that will eventually minimize the size of the transaction.
Some other points that the Satoshi Nakamoto White paper states are:
- There is a high risk of transaction reversal with the involvement of third-party electronic payments.
- Satoshi proposes an electronic payment remedy that involves no third party to reduce the percentage of fraudulent activities.
- It would assist Peer-to-Peer transactions at ease over a network.
- Third-party requirements will be eradicated at all costs, and now trust will be gained in the form of verification using this cryptocurrency.
- The transactions made over bitcoin will be irreversible that will protect the users.
Now, you have a clear idea about the considerable different things that makes Satoshi Nakamoto the God of Bitcoin. People are curiously looking for the real identity of him as people only have limited details that they find in Satoshi Nakamoto wiki. The Satoshi Nakamoto meaning stands for central intelligence in the Japanese version that quite resembles his profession.
Everyone who owns bitcoin today and understands its efficacy is expecting Satoshi Nakamoto to reveal his identity to greet him with good wishes. The theories also proposed that there might be a possibility that Satoshi is not a single person but a group of cryptographers. There is still a hope to encounter certain information on Satoshi Nakamoto Identity to put an end to this search and suspense of who is the creator of Bitcoin.
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