Monday, November 30, 2020
coincasso bitcoin exchange banner
Home Will Satoshi Nakamoto ever use his BTC?

Will Satoshi Nakamoto ever use his BTC?

A well-known researcher speaks about Satoshi’s altruism and the justice of the Bitcoin asset.

Satoshi Bitcoins

The researcher who identified more than one million Bitcoins (BTCs) extracted by Satoshi Nakamoto said that he believes the creator of the Bitcoin network is an altruist and will never use his crypto.

Satoshi Nakamoto bitcoins 1 million
Sergio Demián Lerner, designer of the second layer of Bitcoin’s RSK protocol and a renowned researcher at Reddit said that it took him 3 years to discover the privacy flaws in the Bitcoin code that led to the discovery of the Patoshi pattern.

Patoshi Pattern

The research started already in 2013, where Lerner put forward a thesis that most of the BTCs were extracted by one miner, estimating that he could have extracted exactly 1,844,400 BTCs, which have not been released since their creation.

In 2019, the results of another study were published with even stronger arguments, which confirmed the previous assumptions. After identifying one miner who had accumulated around 1.1 million bitcoins in 2009-2010, Sergio named the patterns shown as blue lines as Patoshi. 

Patoshi Pattern of Bitcoin miners

Patoshi pattern (blue) and other miner patterns (green)

Privacy of BTC creator

In 2019, Sergio discovered the Patoshi pattern, according to which one of the earliest Bitcoin miners produced about 1.1 million Bitcoins. Most believe that this miner was the famous Satoshi Nakamoto, the founder of the BTC network. Lerner said he didn’t intend to go into the matter so as not to disturb the creator.

Sergio about privacy of Bitcoin BTC creator

As he says: “I don’t want to go into the matter anymore, and I think I’ve done enough to expose Bitcoin’s transparency. If I continue searching for information, I could enter Satoshi’s privacy zone.

According to Adam Back, a cryptography legend and founder of Blockstream, who has been repeatedly accused of being Satoshi: “For Bitcoin to remain similar to traditional assets, Satoshi should remain anonymous“. The situation is very similar to that of gold, which no one would want it to have a founder.

Bitcoin Justice 

Based on his research and many years of studying Satoshi and his network, the researcher is certain that the creator of Bitcoin will never release coins he has mined, despite the fact that at the moment he could liquidate all his resources for almost 11 billion dollars

Justice of Bitcoin decentralized asset
Assuming that Satoshi is the person that many Bitcoin enthusiasts have him for, and the network is created with the idea of freedom and justice as many people think, the network creator will never release his BTC. 

Despite such convincing evidence, we can argue whether the Patoshi pattern belongs to Satoshi Nakamoto and whether there is actually a single miner who has mined over a million Bitcoins himself.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Sidebar Widget
USD
EUR
PLN
RUB
bitcoinBitcoin (BTC)
$ 18,473.69
ethereumEthereum (ETH)
$ 587.99
tetherTether (USDT)
$ 0.998516
rippleXRP (XRP)
$ 0.635373
bitcoin-cashBitcoin Cash (BCH)
$ 290.46
litecoinLitecoin (LTC)
$ 79.31
tronTRON (TRX)
$ 0.031311
moneroMonero (XMR)
$ 124.56
dashDash (DASH)
$ 108.97
eosEOS (EOS)
$ 3.08
dogecoinDogecoin (DOGE)
$ 0.003477
bitcoinBitcoin (BTC)
15.441,38
ethereumEthereum (ETH)
491,48
tetherTether (USDT)
0,834618
rippleXRP (XRP)
0,531082
bitcoin-cashBitcoin Cash (BCH)
242,78
litecoinLitecoin (LTC)
66,29
tronTRON (TRX)
0,026172
moneroMonero (XMR)
104,11
dashDash (DASH)
91,08
eosEOS (EOS)
2,57
dogecoinDogecoin (DOGE)
0,002906
bitcoinBitcoin (BTC)
69,232.92
ethereumEthereum (ETH)
2,203.58
tetherTether (USDT)
3.74
rippleXRP (XRP)
2.38
bitcoin-cashBitcoin Cash (BCH)
1,088.54
litecoinLitecoin (LTC)
297.23
tronTRON (TRX)
0.117343
moneroMonero (XMR)
466.81
dashDash (DASH)
408.38
eosEOS (EOS)
11.54
dogecoinDogecoin (DOGE)
0.013031
bitcoinBitcoin (BTC)
1,405,458.09
ethereumEthereum (ETH)
44,733.63
tetherTether (USDT)
75.97
rippleXRP (XRP)
48.34
bitcoin-cashBitcoin Cash (BCH)
22,097.88
litecoinLitecoin (LTC)
6,033.82
tronTRON (TRX)
2.38
moneroMonero (XMR)
9,476.39
dashDash (DASH)
8,290.32
eosEOS (EOS)
234.32
dogecoinDogecoin (DOGE)
0.264526
Sidebar Post
coincasso bitcoin exchange banner

Latest News

CBDC becoming more and more popular

More and more countries are planning and developing the emission of their own crypto. Lithuania announces the launch of its CBDC in July, while...

Bitcoin versus gold, what is a better investment?

Since the global COVID-19 pandemic, people have been looking for an alternative to keeping their savings in their domestic currencies. Some of them choose...

The Medical University of California forced to pay the ransom

Hackers hacked into Medical University computers and demanded a ransom for unlocking the data. After not very fruitful negotiations, the hackers received 116.4 BTC. A...

Blockchain e-voting system was attacked

Bitfury working for the Russian government was attacked at the weekend. Are innovative solutions safe? Problems in the Russian voting system  The Russian system of voting...

Crypto-powered online game tournaments are the future of this market

The Counter-Strike stars will soon be taking part in a cryptographic tournament, while fans will be able to bet on the score with VRA...