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Friday, October 30, 2020

Satoshi Nakamoto: Interesting Facts You Need to Know

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When there is any excellent invention or creation, everyone wants to know the person or people behind it.

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This has been the case with bitcoin, as nobody currently knows who goes by the name Satoshi Nakamoto. We only know that this is the name of the human being, group of people or company behind the Invention of Bitcoin.

How can an invention that has gradually changed the world of financial transactions be surrounded by so much drama? We are as intrigued as you are.

Isn’t it interesting that Bitcoin has become one of the most used currencies in the world even though it has no physical or tangible representation, yet the brain behind it is yet to be identified in the flesh? Whoever it is most definitely has his or her reasons for being in the shadows.

In 2008, Satoshi Nakamoto created the Bitcoin software and finally made it open-source in January 2009. However, in 2010, Nakamoto vanished. Up till this very moment, no one knows the right pronoun to use for this person or group. Is Satoshi Nakamoto he, she, or even they?

Let us check out some Interesting Satoshi Nakamoto Facts You probably never knew.

Whatever or wherever satoshi Nakamoto is, there are some very cool facts about this being that is responsible for the multibillion-dollar industry of what we know as cryptocurrency today.

Check out these nine interesting facts

1. Why is “Satoshi Nakamoto” Famous?

If you’re wondering why we know the name satoshi Nakamoto but do not know the face behind it, that is because Satoshi Nakamoto is the pseudonym used by the inventor of Bitcoin. In the Year 2008, an unknown individual used the name Satoshi Nakamoto and milked the Bitcoin whitepaper to one cryptographic mailing list.

The people contained in the mailing list were renowned individuals who strongly believed in cryptography and decentralization.

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That is why the name satoshi Nakamoto is so popular.

As you can guess from the name, people have assumed that an individual is a Japanese man. However, his flawless use of the English language in the white paper has made people doubt his origin.

2. Satoshi’s Net Worth

A lot of people have guessed that satoshi Nakamoto currently owns about 1 million bitcoins or even more. Which means that his net worth at present is valued at about 2.6 billion dollars.

In January 2009, Nakamoto mined the Genesis block and officially stopped Communications in 2010. During this time, Bitcoin had come into existence on the Blockchain ledger, but none of it has been spent or used. This goes a long way to prove how much satoshi Nakamoto owns.

As you can tell, 1 million bitcoin is a massive number, which, if suddenly dumped, would cause a lot of havoc in the cryptocurrency market. This explains why bitcoin is also called a Ponzi scheme by some people because it is speculated that the founder owns a significant share.

3. Satoshi’s T-Shirts

This is the time and age when people cash out from drama, and this is what has been done with the anonymity of the founder of Bitcoin. There has been a fast growth of a fresh merchandising concept as people can now purchase t-shirts and other products with things about satoshi Nakamoto printed on them.

Things can find write-ups like;

  • I am Satoshi Nakamoto.
  • Who is Satoshi Nakamoto?
  • Where in the world is Satoshi Nakamoto?

If you want any of this merchandise is you can find them on some e-commerce sites.

4. Satoshi Nakamoto is Possibly A Group Of Companies

Some individuals have suggested that Toshiba, Samsung, Motorola, and Nakamichi together created Bitcoin as it is easy to coin the name satoshi Nakamoto from the names of these companies:

  • “Satoshi Nakamoto”…
  • The “Sa” from Samsung and the “Toshi” Toshiba makes the first name – Satoshi
  • The “Naka” in Nakamichi and the “Moto” in Motorola makes the last name — Nakamoto

However, to this day, there is no official proof to back up this conclusion.

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5. Satoshi Nakamoto is Possibly Nick Szabo

Nick Szabo, is a United States computer cryptographer and computer scientist, who some people have suspected to be the founder of the Bitcoin.

Nick created the concept of digital currency, especially for the digital age, by inventing “Bit Gold.“ We can say that Bit Gold was the forefather of Bitcoin. However, it has many limitations and was not used by the masses for that reason.

After an intensive analysis of Satoshi’s white paper, one blogger concluded that Nick Szabo was the mysterious Satoshi Nakamoto. However, Nick has never agreed to this hypothesis. This means we are unsure if he is who we think he is.

6. Satoshi Nakamoto is Possibly Craig Steven Wright

Craig Wright is another person suspected to be the inventor of Bitcoin. This suspicion became viral after BBC had claimed on the 2nd of May 2016 that Mr. Craig was the inventor of the popular cryptocurrency.

However, after an examination was done by core bitcoin developers such as Peter Todd, it was discovered that Mr. Craig Wright was unable to tender any acceptable supporting proof of the claim.

Although, in the beginning, Mr. Craig had said he would show up with relevant proof. He, however, failed to do so and went ahead to make a blog post saying he was sorry and did not dare to continue.

7. Satoshi Nakamoto is Possibly Dorian Nakamoto

There was yet another speculation about the identity of Nakamoto in March 2014. A news source that claimed that they discovered that Mr. Nakamoto lived in California, USA.

The man’s full name was reported to be Dorian Prentice Satoshi Nakamoto. The report claimed that he was a physicist and a systems engineer who was recently laid off by the US government.

Later on, the individual identified as satoshi denied all of such claims and made it clear that he is not the Nakamoto whom the world has been searching for.

8. Satoshi Nakamoto is Possibly Hal Finney

Way before Hal’s involvement with bitcoin, he was a cryptographer. He was one of the individuals on the mail list that received the white paper from Satoshi Nakamoto.

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Hal said that he had been in constant communication with Satoshi to support his testing, and that led to the speculative that Mr. Hal himself as Satoshi Nakamoto.

It was also noticed that Mr. Hal’s writing style was very similar to that of Satoshi Nakamoto in the Bitcoin whitepaper. However, the Suspicions began to evaporate after Mr. Hal showed his email conversation with Nakamoto, but as we know, it might just be an excellent diversion tactic.

Fun fact: Mr. Hal was the first person to get a Bitcoin transaction from Nakamoto on January 12, 2009, after Nakamoto mined the first block on 3rd January 2009 at precisely 18:15:05 GMT.

9. Fast Company Found Satoshi Nakamoto

One employee of a media brand called Fast Company said that Vladimir Oksman, Neal King, and Charles Bry were the group of individuals that created Bitcoin. The said employee was able to prove it by searching unique phrases in Nakamoto’s white paper.

They even went as far as patenting the phrase, which was on the Bitcoin white paper “computationally impractical to reverse.”

Nevertheless, all of these men have publically denied the allegations.

The Anonymity of Satoshi Nakamoto

Regardless of what any individual may think, there is no doubt that they are limiting factor of the father of Bitcoin has been very healthy for the growth of the cryptocurrency.

Now in spite of all the suspensions and speculations, one thing remains clear, nobody knows who Satoshi is, what satoshi doing, and if satoshi is a person or even a group. As far as we are concerned, he might be the person sitting next to you on the train or the bus.

All of this goes to show that bitcoin is significant, and the anonymity of Satoshi Nakamoto is twice as valuable.

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Till we find him, her, or them, do not forget that bitcoin is here to stay. If you have any information you would like to share with us or even questions you want to ask, please do not hesitate to leave them in the comments section provided below.

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