June 11, 2024


Crypto News and Signals

Who is Satoshi Nakamoto ?

2 min read

Satoshi Nakamoto is the name/pseudonym used by the person/persons who created and developed Bitcoin and the idea of the blockchain.

Nakamoto was the first person to solve the problem with double-spending of digital currency using a peer-to-peer network to solve the problem. Nakamoto was developing bitcoin until December 2010, when.  The writing of the code for Bitcoin was started in 2007, in August 2008 the domain Bitcoin.org was registered and a web site was created. October 2008 there was a paper published on the cryptography mailing list at the site metzdowd.com. In that paper there was first mentioning of Bitcoin with the title “Bitcoin : A peer-to-peer Electronic Cash System”.

In January 2009 the Bitcoin software version 0.1 was released on Sourceforge and the network was launched by mining the genesis block of the first bitcoin (block number 0), that had reward of 50 BTC.Inside the first transaction there was embedded text \”The Times 03/Jan/2009 Chancellor on brink of second bailout for banks\” that is referring to a UK newspaper The Times. Because of this many people think that Satoshi was located in the UK at that moment.Nakamoto continue to develop the bitcoin software until 2010 by modifying the code himself. After that he hander the control of the repository of the code and network alert key to Gavin Andersen, transferred the domain names to different members of the bitcoin community and stopped his involvement in the project.\n\nAs of April 2020, Nakamoto wallet remains untouched since January 2009. In 2017 when was the peak in bitcoin price, these wallet were worth over 19 billion $. That makes Nakamoto the 44 the richest person in the world at that time.

There were no personal information disclosed from Satoshi (location, age, gender or real name).Satoshi made some comments on fractional-reserve banking and banking, but many people think that because of his native-level of using English, he was unlikely to be of Japanese nationality.\n\nMany people who examined the source code of Bitcoin think that Satoshi Nakamoto was not one person, but a team of people because of the way the code was designed. The use of British English and slang in code comments and forum posting such as “flat”, “bloody hard”, “grey” and many more suggested that he (or the person of the team who write the comments on the source code) was a British or was living for some time in UK.People examining Nakamoto bitcoin forum post (more then 500 posts) showed no posts between the 5 a.m. and 11 a.m. Greenwich Mean Time. This is between 2 p.m. and 8 p.m. Japanese time. This suggest an strange sleep pattern for someone living in Japan.’, ‘Who is Satoshi Nakamoto ?’

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