12345...


Satoshi Nakamoto – Bitcoin Wiki

For the unit, see satoshi (unit).

Satoshi Nakamoto is the founder of Bitcoin and initial creator of the Original Bitcoin client. He has said in a P2P foundation profile[1] that he is from Japan. Beyond that, not much else is known about him and his identity. He has been working on the Bitcoin project since 2007.[2]

His involvement in the Bitcoin project had tapered and by late 2010 it has ended. The most recent messages reportedly indicate that Satoshi is “gone for good”[3].

He left some clues about why he is doing this project with the inclusion of the following text in the Genesis block, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.

Some interesting quotes:

Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory offreedom for several years.

Governments are good at cutting off the heads of a centrally controllednetworks like Napster, but pure P2P networks like Gnutella and Tor seem to beholding their own.[4]

His identity and nationality are unknown.

He is entirely unknown outside of Bitcoin as far as anyone can tell, and his (never used) PGP key was created just months prior to the date of the genesis block. He seems to be very familiar with the cryptography mailing list, but there are no non-Bitcoin posts from him on it. He has used an email address from an anonymous mail hosting service (vistomail) as well as one from a free webmail account (gmx.com) and sends mail when connected via Tor. Some have speculated that his entire identity was created in advance in order to protect himself or the network. Perhaps he chose the name Satoshi because it can mean “wisdom” or “reason” and Nakamoto can mean “Central source”.

Ultimately the design of Bitcoin and its use of cryptographic proof and fully open implementation is one that makes its creator, in a sense, irrelevant and only of interest for historical reasons.

See the article here:

Satoshi Nakamoto – Bitcoin Wiki

Who is Satoshi Nakamoto? – Invest in Blockchain

Who is Satoshi Nakamoto?

Is he from Japan and is it even a he? Or maybe the creator of Bitcoin is a woman? Or maybe both, and Satoshi Nakamoto is the name of a group of people? No one knows.

Nonetheless, we can be sure about two things: Satoshi Nakamoto is a pseudonym and the individual or group of individuals that have used it created something genius, the first blockchain powering Bitcoin.

Multiple people have been suspected of being Satoshi Nakamoto; however, none have been able to convince the crypto community. It could be that Nakamotos true identity will always remain a mystery, which is something poetic, especially when looking at the rising value and impact of Bitcoin.

It was 2008 and the world was in shock because of yet another major crisis caused by the global financial industry.

Coincidentally, a technology with the power to disrupt this industry had been in the making. Nakamoto is said to have been working on the Bitcoin system since 2007. Once he felt confident enough about his idea, he started contacting cryptographers through a cryptography mailing list and he started discussing his idea, asking for feedback and looking for general assistance.

In the beginning of 2009, Nakamoto released an academic paper, or a white paper, in which he described his envisioned system in detail. After this, he started running the code for Bitcoin and began testing the technology.

Both the paper and the initial code were highly respected by field experts, who started to realize Nakamoto was working on something potentially world-changing. They started to help Bitcoin progress and evolve, and more people joined ranks.

As soon as Bitcoin got the attention of the mass media, it was discarded as something used for illegal transactions, fueled by the acceptance of Bitcoin by Silk Road and Wikileaks.

However, over time, more and more people started to realise the true potential of Bitcoin and a whole new industry emerged: an industry ignited by the invention of an unknown party.

So what do we know about Satoshi Nakamoto?

Although nobody has ever claimed to have actually spoken to Nakamoto, there has been plenty of online communications with him. He reached out to cryptographers and developers and communicated with individuals that helped him in the development of his creation.

From all of these chats, it can be concluded that Nakamoto was highly protective of his identity. He never spoke about anything personal and never revealed anything that could be used to identify him.

When he was asked about this, he indicated that he wanted to remain anonymous so that his invention and the creator would be completely separate. This fits the decentralised nature of Bitcoin and blockchain, as there is no central authority. He understood that once Bitcoin received mainstream attention, his persona would be linked to the technology which would only devalue his creation.

There are some things Nakamoto communicated that are worth mentioning. For instance, he made a request to Wikileaks not to accept Bitcoin as it was still in its infancy and the nature of Wikileaks would draw a lot of negative attention and forces to Bitcoin. Wikileaks followed this advice and held off using Bitcoin until it was more stable. Accepting Bitcoin turned out to be very profitable forWikileaks.

He also left a message open to interpretation in the first Bitcoin block ever to be mined. In this block, he entered the text The Times, 3 January 2009, Chancellor on brink of second bailout for bank. Theres been a lot of speculation about the meaning of this; however, since Bitcoin is a means of financial transactions and value storage, its likely a criticism on the very industry Bitcoin is currently disrupting.

In 2010, Nakamoto retreated from the online world. His last email was to Gavin Andresen, a software developer with which Nakamoto communicated and who has been highly involved in the further development of Bitcoin. Andresen replied that he was going to explain Bitcoin to the CIA, after which nothing was ever heard from Nakamoto again.

Even though it is obvious the architect of Bitcoin doesnt want to be known, the world has not stopped trying to identify him. This continuous quest seems rather pointless as someone with such deep understanding of complex cryptography and technology is very likely capable of remaining anonymous.

It is also believed that the name Satoshi Nakamoto has a meaning, for when you loosely translate the name from Japanese, you get:

Satoshi clear thinking

Naka inside

Moto foundation

On a forum on which Satoshi Nakamoto was active, the profile states that he is a 41 year old male Japanese.

Its hard to believe that any of this is true. Although many still believe Nakamoto to be Japanese, there is a lot of evidence to the contrary. His online activity was mainly during US daytime and the original Bitcoin client ran in English. Reportedly, Nakamoto hired third parties to translate this Bitcoin client to Japanese.

The excessive complexities Satoshi Nakamoto faced and overcame when developing Bitcoin give rise to the idea that it was actually created by a group of people. Bitcoin has been up and running for over 8 years now and we still havent been able to identify one person to thank for it, let alone multiple persons.

Over the years, 4 people have been believed to be Satoshi Nakamoto. Most of the evidence have been circumstantial and the Australian former academic Craig Wright, who claimed to be Nakamoto, failed twice to provide convincing evidence. With the years passing by, the chances of uncovering Nakamotos true identity grow smaller.

In fact, it can be argued that the identity of Nakamoto doesnt really matter. As Nakamoto stated, we should see the invention separate from the inventor. Bitcoin and blockchain are decentralised and owned by the network, meaning there are no central figures. The code is out and open sourced and Nakamoto is unable to control this anyway.

What does matter is the fact that Nakamoto owns about 1 million Bitcoins, and a similar amount of the forked coins, with a combined value of approximately $6.5 billion. This is because in Bitcoins early stages, he mined Bitcoin by himself. Knowing that there are about 16.5 million Bitcoins on in circulation, this means that Nakamoto owns 1/16th of the market. It makes you wonder, what will Nakamoto use this for?

All in all, the legend of Satoshi Nakamoto is a beautiful mystery that suits the complex and disruptive nature of Bitcoin and blockchain. And youll never know maybe, when Nakamotos vision has come true, the true identity of Bitcoins creator(s) will be revealed.

More:

Who is Satoshi Nakamoto? – Invest in Blockchain

Who is Satoshi Nakamoto? A Look at the Candidates

Bitcoin was conceived as a communal project. Designed as an open-source software and released to the public in 2009, Bitcoin was conceived with openness in mind. Functioning on an open ledger that is accessible to the public, Bitcoin is an open-source project. But for all its openness, one grand mystery remains unsolved:

Who Created Bitcoin and Who exactly is Satoshi Nakamoto?

First, lets detail what is known for certain. The first step was taken in 2007, when Nakamoto wrote the Bitcoin code1. In November 2008, Satoshi Nakamoto published his now famous White Paper, which laid the groundwork for the Bitcoin protocol2.

On January 3rd, 2009, the first ever Bitcoin block was mined, marking the creation of the cryptocurrency, it bore the message :

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Satoshi was heavily involved with the Bitcoin community, and collaborated with them in order to modify the underlying bitcoin protocol. After two years of involvement, Nakamoto handed the reins to Gavin Andresen, and seized involvement with the Bitcoin project in December of 2010. Then, in the Spring of 2011, Nakamoto returned to leave a final message, stating in a post that he had moved on to other things, and that Bitcoin was in good hands with Gavin [Andresen] and everyone. That was the last the world heard of the secretive Bitcoin creator.

The mystery behind Nakamotos identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 19753. It is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals.

While Nakamotos identity remains unknown, This has not stopped enthusiasts from investigating his background and drawing up conclusions. Nakamotos use of perfect English in his posts and his publication of the White Paper has raised skepticism as to his Japanese origin. Furthermore, his occasional use of British English in the code and comments has fueled speculation that he is a native English speaker of commonwealth origin4. Additionally, Stefan Thomas, a Swiss coder and active member in the Bitcoin community, graphed the time stamps of Nakamotos more than 500 posts, showing his or her complete absence of posts between midnight am and 6 am Greenwich Time, further informing investigators as to his potential whereabouts5.

To date, there are several potential individuals suspected of being the mysterious Bitcoin creator. One of the first suggestions was Nick Szabo, a decentralized currency enthusiast who published a paper on bit gold considered to be a precursor to the first cryptocurrency. Running a reverse textual analysis, internet researcher Skye Grey found dozens of unique phrases that linked Szabos writing style to that of the original White Paper6. This evidence is only circumstantial, however, and Szabo has repeatedly denied that he is the creator of Bitcoin.

Nick Szabo, Image from The-Blockchain

Another possibility is a Japanese American man living in California, named Dorian Prentice Satoshi Nakamoto, birth name Satoshi Nakamoto. First brought up in a March 2014 Newsweek article, Leah McGrath Goodman pointed to Nakamotos training as a physicist at Cal Poly University in Pomona and libertarian background as potential indicators of his identity. Her biggest piece of evidence was his response to a question regarding Bitcoin: I am no longer involved in that and I cannot discuss it. Its been turned over to other people. They are in charge of it now. I no longer have any connection.7 This led to a wild media frenzy, which even included a car chase. However, in a later interview, he recanted his previous position, stating that he had misunderstood the reporters question, thinking it was related to his previous classified work as a military contractor8.

Dorian Prentice Satoshi Nakamoto, Image from The Verge.

Hal Finney is another potential candidate to be the mysterious Satoshi Nakamoto. Finney was a pre-bitcoin cryptographic pioneer and was only the second person after Nakamoto himself to make use of the software, file bug reports, and suggest improvements.

Furthermore, he was the first to ever receive Bitcoin, stating in an interview that [he] was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to [him] as a test.9

Forbes journalist Andy Greenberg speculated after requesting aid from writing analysis consultancy Juola & Associates that Greenberg may have been the ghostwriter for Satoshi Nakamoto. Further adding to the speculation that Finney was involved with the creation of Bitcoin was his correspondence with the aforementioned Nick Szabo, and the fact that he lived only blocks apart from Dorian Prentice Satoshi Nakamoto10. At the time of his death on August 28, 2014, only circumstantial evidence pointed to Hal Finney being the original Satoshi Nakamoto.

Hal Finney, Image from Wired.

Yet another possible contender to be Satoshi Nakamoto is the Australian academic, computer engineering expert, and entrepreneur, Craig Wright. In early November of 2015, Gizmodo received an anonymous email from an individual stating that not only did he know that Craig Wright was the creator of Bitcoin, but that he had also worked for him11. On December 9, hours after Wired certified that Wright was indeed Nakamoto, the Australian Federal Police raided his home, and afterwards stating the [the] matter is unrelated to recent media reporting regarding the digital currency Bitcoin. Afterwards, Wright deleted his internet presence until May of 2016, when he stepped forward and revealed himself on Twitter as the creator of the digital currency Bitcoin12, and claimed he had the proof to back up his statement. Then, amid a torrent of skepticism, Wright retracted his statement and did not offer the extraordinary proof he claimed to have, stating that he did not have the courage to prove his identity13.

Craig Wright, Image from CCN.

In an era where information is widespread, Satoshi Nakamoto has managed to maintain his identity a complete secret. So why is uncovering Nakamotos identity so important? If Nakamoto is indeed a single individual, then he or she owns approximately 5% of the worlds Bitcoin supply, placing him or her as the 52nd richest person in the world as of December 12th14.

The implications of this wealth are considerable, beyond even the real world implications. If Satoshi Nakamoto were ever to sell the rumored 980,000 Bitcoins in his or her possession ( currently worth over $16 billion at todays price, as of 5th Jan 2018 ), the price of Bitcoin could potentially become more volatile than it already is.

Furthermore, there is significant debate as to the future of Bitcoin. Heated discussions have arisen due to some of the growing pains surrounding Bitcoin, particularly the issue of how to deal with an increase in transaction volume in the Bitcoin network. As the number of blocks increases, the Bitcoin network runs the risk of becoming overloaded. One side of the debate wants to fundamentally change the Bitcoin node by increasing the block size, in order to allow the system to process transactions more quickly. The other side of the debate sees this as a betrayal of the original concept behind Bitcoin, arguing that this would lead to increased centralization15. Identifying Bitcoins true creator would create more certainty and could potentially lay down the following steps in Bitcoins ever growing development.

Ultimately, identifying Bitcoins creator may be a quixotic endeavor. His or her complete silence since the Spring of 2011 means it is likely we will never hear from them again. Nevertheless, Bitcoin, the open source digital currency created nearly a decade ago, will continue to in spite of this mystery. The Bitcoin community will be forced to coexist with the enigma that is Satoshi Nakamoto, for the better or for the worst.

View post:

Who is Satoshi Nakamoto? A Look at the Candidates

Satoshi Nakamoto Introduced Bitcoin 10 Years Ago …

Ten years ago today, someone using the name Satoshi Nakamoto sent an academic paper to a cryptography mailing list proposing a form of digital cash called “bitcoin.” The pseudonymous Nakamoto, whose true identity remains unknown, described an idea for “mining” a limited amount of this virtual currency through a peer-to-peer scheme that wouldn’t depend on a bank, government, or any other central authority. Once people started using bitcoin, it would be impossible for a government to pull the plug, as happened with previous attempts to create digital money, such as E-Gold.

Today Bitcoin is a global phenomenon. Individual bitcoins sell for thousands of dollars. The price has dropped steeply from its peak of nearly $20,000 in December 2017, but recall that, at the beginning of 2017, one bitcoin sold for less than $1,000. Meanwhile, hordes of other cryptocurrencies have launched, though none has attracted quite as much interest from users or investors as bitcoin, and venture capitalists pour millions into startups looking to capitalize on the underlying technology.

It all started with the white paper. When Nakamoto published the paper, many of the underlying concepts of Bitcoin already existed, including the idea of issuing digital money to people who devoted computing resources to a problem. But Emin Gn Sirer, a computer science professor at Cornell University, credits Nakamoto with a major breakthrough: a way to ensure that users trust one another, and the network, without relying on gatekeepers.

Bitcoin relies on a ledger called the blockchain. Every transaction is cryptographically signed and recorded in the blockchain, which is distributed to every participant in the Bitcoin network, preventing anyone from double-spending their coins.

Because its difficult, if not impossible, to tamper with the ledger, anyone can download the Bitcoin software and blockchain and participate in the network. There are no corporations that control entry into the network or government bureaucrats demanding that you file paperwork to participate. Building a currency system without the need for gatekeepers wasnt a problem many were focused on, but once it was solved it moved the idea of decentralized digital currency from the academic fringes to the nightly news.

“Proving that this was possible was a major contribution to computer science,” Sirer says. “Satoshi opened the door to revamping the entire finance industry.

The rise of Bitcoin happened largely without Nakamoto, who disappeared from the internet in late 2010, leaving the Bitcoin software in the hands of some early collaborators. Attempts to track down Nakamoto have been at best inconclusive. They include a Newsweek cover story claiming that Nakamoto wasnt a pseudonym but the real name of a retired engineer living in Temple City, California, which has been largely debunked, and WIREDs reporting on Australian academic Craig Wright, who has claimed to be Nakamoto but been unable to prove it.

For all of Bitcoin’s success, it hasn’t lived up to Nakamoto’s dream of a currency for day-to-day transactions, remaining largely a medium for speculators. In part, that’s because transactions are incredibly slow. Sirer has estimated that Bitcoin processes around three transactions per second, a poor showing compared to Visas 3,674 transactions per second. Meanwhile, other problems have emerged, such as the Bitcoin network’s alarmingly huge carbon footprint, which one report suggests is already on par with that of a small country.

Nakamotos successors on the Bitcoin project, along with the developers of rival cryptocurrencies, are working to solve these problems, but in ways that sometimes radically diverge from the original white paper. The Bitcoin project is considering an innovation called the Lighting Network that would speed up transactions by moving most transactions outside of the blockchain. Sirer, meanwhile, is working on new protocols that address both speed and environmental impact. Others have created new cryptocurrencies that try to address a whole host of Bitcoin issues, from performance to privacy.

“Technically, Satoshi has been outclassed in every imaginable way,” Sirer says. “And for the issues we still face, [Satoshis writing] provides no solution.”

That led Sirer to declare on Twitter in June that “Satoshi is dead.” Sirer didn’t mean that literally, but in the sense that Nietzsche wrote that “God is dead”: Even Satoshi wouldn’t be able to resolve the sorts of disputes the cryptocurrency community now faces.

Jonathan Sidego, an executive at the hedge fund Numerai agrees with Sirer that Nakamotos paper has little guidance to offer on the problems now facing bitcoin and that the public will interpret Nakamotos writings in different ways.

But that’s not to say that Nakamoto or the white paper are irrelevant. “The white paper is definitely worth reading for anyone interested in understanding the concepts that allow blockchains to work,” Sidego says. “The paper is short and surprisingly readable, so definitely worthwhile.”

Neha Narula, director of the MIT Media Labs Digital Currency Initiative, agrees. Asked during a panel at WIRED’s 25th anniversary event what what one book or paper on cryptocurrency she’d recommend everyone read, Narula picked the white paper. “It’s amazing how the white paper still holds up,” she says. “It’s still the best way to understand how bitcoin works.”

She also thinks that Nakamotos subsequent silence is a big part of the Bitcoin creators legacy.One of the coolest things about Bitcoin is that the creator stepped away, she says. So many people feel like they have ownership over this thing. I think if the person who created it, who started it, was still around, people wouldn’t feel like they could have a piece of it too.

Read the original here:

Satoshi Nakamoto Introduced Bitcoin 10 Years Ago …

Who is Satoshi Nakamoto? A Look at the Candidates

Bitcoin was conceived as a communal project. Designed as an open-source software and released to the public in 2009, Bitcoin was conceived with openness in mind. Functioning on an open ledger that is accessible to the public, Bitcoin is an open-source project. But for all its openness, one grand mystery remains unsolved:

Who Created Bitcoin and Who exactly is Satoshi Nakamoto?

First, lets detail what is known for certain. The first step was taken in 2007, when Nakamoto wrote the Bitcoin code1. In November 2008, Satoshi Nakamoto published his now famous White Paper, which laid the groundwork for the Bitcoin protocol2.

On January 3rd, 2009, the first ever Bitcoin block was mined, marking the creation of the cryptocurrency, it bore the message :

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Satoshi was heavily involved with the Bitcoin community, and collaborated with them in order to modify the underlying bitcoin protocol. After two years of involvement, Nakamoto handed the reins to Gavin Andresen, and seized involvement with the Bitcoin project in December of 2010. Then, in the Spring of 2011, Nakamoto returned to leave a final message, stating in a post that he had moved on to other things, and that Bitcoin was in good hands with Gavin [Andresen] and everyone. That was the last the world heard of the secretive Bitcoin creator.

The mystery behind Nakamotos identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 19753. It is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals.

While Nakamotos identity remains unknown, This has not stopped enthusiasts from investigating his background and drawing up conclusions. Nakamotos use of perfect English in his posts and his publication of the White Paper has raised skepticism as to his Japanese origin. Furthermore, his occasional use of British English in the code and comments has fueled speculation that he is a native English speaker of commonwealth origin4. Additionally, Stefan Thomas, a Swiss coder and active member in the Bitcoin community, graphed the time stamps of Nakamotos more than 500 posts, showing his or her complete absence of posts between midnight am and 6 am Greenwich Time, further informing investigators as to his potential whereabouts5.

To date, there are several potential individuals suspected of being the mysterious Bitcoin creator. One of the first suggestions was Nick Szabo, a decentralized currency enthusiast who published a paper on bit gold considered to be a precursor to the first cryptocurrency. Running a reverse textual analysis, internet researcher Skye Grey found dozens of unique phrases that linked Szabos writing style to that of the original White Paper6. This evidence is only circumstantial, however, and Szabo has repeatedly denied that he is the creator of Bitcoin.

Nick Szabo, Image from The-Blockchain

Another possibility is a Japanese American man living in California, named Dorian Prentice Satoshi Nakamoto, birth name Satoshi Nakamoto. First brought up in a March 2014 Newsweek article, Leah McGrath Goodman pointed to Nakamotos training as a physicist at Cal Poly University in Pomona and libertarian background as potential indicators of his identity. Her biggest piece of evidence was his response to a question regarding Bitcoin: I am no longer involved in that and I cannot discuss it. Its been turned over to other people. They are in charge of it now. I no longer have any connection.7 This led to a wild media frenzy, which even included a car chase. However, in a later interview, he recanted his previous position, stating that he had misunderstood the reporters question, thinking it was related to his previous classified work as a military contractor8.

Dorian Prentice Satoshi Nakamoto, Image from The Verge.

Hal Finney is another potential candidate to be the mysterious Satoshi Nakamoto. Finney was a pre-bitcoin cryptographic pioneer and was only the second person after Nakamoto himself to make use of the software, file bug reports, and suggest improvements.

Furthermore, he was the first to ever receive Bitcoin, stating in an interview that [he] was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to [him] as a test.9

Forbes journalist Andy Greenberg speculated after requesting aid from writing analysis consultancy Juola & Associates that Greenberg may have been the ghostwriter for Satoshi Nakamoto. Further adding to the speculation that Finney was involved with the creation of Bitcoin was his correspondence with the aforementioned Nick Szabo, and the fact that he lived only blocks apart from Dorian Prentice Satoshi Nakamoto10. At the time of his death on August 28, 2014, only circumstantial evidence pointed to Hal Finney being the original Satoshi Nakamoto.

Hal Finney, Image from Wired.

Yet another possible contender to be Satoshi Nakamoto is the Australian academic, computer engineering expert, and entrepreneur, Craig Wright. In early November of 2015, Gizmodo received an anonymous email from an individual stating that not only did he know that Craig Wright was the creator of Bitcoin, but that he had also worked for him11. On December 9, hours after Wired certified that Wright was indeed Nakamoto, the Australian Federal Police raided his home, and afterwards stating the [the] matter is unrelated to recent media reporting regarding the digital currency Bitcoin. Afterwards, Wright deleted his internet presence until May of 2016, when he stepped forward and revealed himself on Twitter as the creator of the digital currency Bitcoin12, and claimed he had the proof to back up his statement. Then, amid a torrent of skepticism, Wright retracted his statement and did not offer the extraordinary proof he claimed to have, stating that he did not have the courage to prove his identity13.

Craig Wright, Image from CCN.

In an era where information is widespread, Satoshi Nakamoto has managed to maintain his identity a complete secret. So why is uncovering Nakamotos identity so important? If Nakamoto is indeed a single individual, then he or she owns approximately 5% of the worlds Bitcoin supply, placing him or her as the 52nd richest person in the world as of December 12th14.

The implications of this wealth are considerable, beyond even the real world implications. If Satoshi Nakamoto were ever to sell the rumored 980,000 Bitcoins in his or her possession ( currently worth over $16 billion at todays price, as of 5th Jan 2018 ), the price of Bitcoin could potentially become more volatile than it already is.

Furthermore, there is significant debate as to the future of Bitcoin. Heated discussions have arisen due to some of the growing pains surrounding Bitcoin, particularly the issue of how to deal with an increase in transaction volume in the Bitcoin network. As the number of blocks increases, the Bitcoin network runs the risk of becoming overloaded. One side of the debate wants to fundamentally change the Bitcoin node by increasing the block size, in order to allow the system to process transactions more quickly. The other side of the debate sees this as a betrayal of the original concept behind Bitcoin, arguing that this would lead to increased centralization15. Identifying Bitcoins true creator would create more certainty and could potentially lay down the following steps in Bitcoins ever growing development.

Ultimately, identifying Bitcoins creator may be a quixotic endeavor. His or her complete silence since the Spring of 2011 means it is likely we will never hear from them again. Nevertheless, Bitcoin, the open source digital currency created nearly a decade ago, will continue to in spite of this mystery. The Bitcoin community will be forced to coexist with the enigma that is Satoshi Nakamoto, for the better or for the worst.

Read the original here:

Who is Satoshi Nakamoto? A Look at the Candidates

How bitcoin has failed to achieve Satoshi Nakamotos …

Bitcoin was created as an alternative payment system, one that operated anonymously and peer-to-peer, eliminating the so-called trusted third party.

But a decade later and the solution proposed by Satoshi Nakamoto, the pseudonym affiliated with the person or persons who created bitcoin BTCUSD, -0.01% is anything but a solution, according to Morgan Stanley researchers.

In a 65-page report outlining bitcoins rapidly morphing thesis, the U.S. banking giant said the worlds largest cryptocurrency is now better categorized as a new institutional investment class and not digital cash, or a replacement payment system, like the early cryptographers intended.

Read: Bitcoin is 10 years old: Heres what to expect in the cryptocurrencys second decade

Technology headwinds, such as scalability and security, have hindered its ability to operate as a sustainable payment system. In other words, bitcoin and its ilk havent been widely adopted and many observers still fear that the digital apparatus around such virtual assets can safeguard their currency holdings.

The high costs of operating a fully trustless system is pushing early players to Balkanize systems into trusted blockchains/distributed ledgers, the bank said, adding that it has virtually no acceptance among U.S. e-commerce merchants.

Read: A team at Northwestern think they have solved one of bitcoins biggest problems

Moreover, Morgan Stanley MS, -0.28% said the surge in capital allocation to digital-currency funds is evidence that investors now see the technology as an opportunity to turn a profit, citing a $6.9 billion increase in crypto fund assets under management since January 2016.

Read: The round numbers that show just how far bitcoin has come in 10 years

Furthermore, any hope the 10-year old experiment will achieve its original intent looks to have passed, with questions now revolving around how to raise funds, not improve payments system, according to Morgan Stanley.

A lack of a more formal regulatory structure, which remains in its infancy, also has been cited as an impediment by the Morgan Stanley analysts.

From our client conversations, we find three major obstacles preventing large scale investment in the cryptocurrency space: Underdeveloped regulation so asset managers dont want to take on the reputational risk; lack of a custodian solution to hold the cryptocurrency and private keys; lack of large financial institutions and asset managers currently invested.

Read: This is where cryptocurrencies are actually making a difference in the world

Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here.

See the rest here:

How bitcoin has failed to achieve Satoshi Nakamotos …

Who is Satoshi Nakamoto? A Look at the Candidates

Bitcoin was conceived as a communal project. Designed as an open-source software and released to the public in 2009, Bitcoin was conceived with openness in mind. Functioning on an open ledger that is accessible to the public, Bitcoin is an open-source project. But for all its openness, one grand mystery remains unsolved:

Who Created Bitcoin and Who exactly is Satoshi Nakamoto?

First, lets detail what is known for certain. The first step was taken in 2007, when Nakamoto wrote the Bitcoin code1. In November 2008, Satoshi Nakamoto published his now famous White Paper, which laid the groundwork for the Bitcoin protocol2.

On January 3rd, 2009, the first ever Bitcoin block was mined, marking the creation of the cryptocurrency, it bore the message :

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Satoshi was heavily involved with the Bitcoin community, and collaborated with them in order to modify the underlying bitcoin protocol. After two years of involvement, Nakamoto handed the reins to Gavin Andresen, and seized involvement with the Bitcoin project in December of 2010. Then, in the Spring of 2011, Nakamoto returned to leave a final message, stating in a post that he had moved on to other things, and that Bitcoin was in good hands with Gavin [Andresen] and everyone. That was the last the world heard of the secretive Bitcoin creator.

The mystery behind Nakamotos identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 19753. It is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals.

While Nakamotos identity remains unknown, This has not stopped enthusiasts from investigating his background and drawing up conclusions. Nakamotos use of perfect English in his posts and his publication of the White Paper has raised skepticism as to his Japanese origin. Furthermore, his occasional use of British English in the code and comments has fueled speculation that he is a native English speaker of commonwealth origin4. Additionally, Stefan Thomas, a Swiss coder and active member in the Bitcoin community, graphed the time stamps of Nakamotos more than 500 posts, showing his or her complete absence of posts between midnight am and 6 am Greenwich Time, further informing investigators as to his potential whereabouts5.

To date, there are several potential individuals suspected of being the mysterious Bitcoin creator. One of the first suggestions was Nick Szabo, a decentralized currency enthusiast who published a paper on bit gold considered to be a precursor to the first cryptocurrency. Running a reverse textual analysis, internet researcher Skye Grey found dozens of unique phrases that linked Szabos writing style to that of the original White Paper6. This evidence is only circumstantial, however, and Szabo has repeatedly denied that he is the creator of Bitcoin.

Nick Szabo, Image from The-Blockchain

Another possibility is a Japanese American man living in California, named Dorian Prentice Satoshi Nakamoto, birth name Satoshi Nakamoto. First brought up in a March 2014 Newsweek article, Leah McGrath Goodman pointed to Nakamotos training as a physicist at Cal Poly University in Pomona and libertarian background as potential indicators of his identity. Her biggest piece of evidence was his response to a question regarding Bitcoin: I am no longer involved in that and I cannot discuss it. Its been turned over to other people. They are in charge of it now. I no longer have any connection.7 This led to a wild media frenzy, which even included a car chase. However, in a later interview, he recanted his previous position, stating that he had misunderstood the reporters question, thinking it was related to his previous classified work as a military contractor8.

Dorian Prentice Satoshi Nakamoto, Image from The Verge.

Hal Finney is another potential candidate to be the mysterious Satoshi Nakamoto. Finney was a pre-bitcoin cryptographic pioneer and was only the second person after Nakamoto himself to make use of the software, file bug reports, and suggest improvements.

Furthermore, he was the first to ever receive Bitcoin, stating in an interview that [he] was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to [him] as a test.9

Forbes journalist Andy Greenberg speculated after requesting aid from writing analysis consultancy Juola & Associates that Greenberg may have been the ghostwriter for Satoshi Nakamoto. Further adding to the speculation that Finney was involved with the creation of Bitcoin was his correspondence with the aforementioned Nick Szabo, and the fact that he lived only blocks apart from Dorian Prentice Satoshi Nakamoto10. At the time of his death on August 28, 2014, only circumstantial evidence pointed to Hal Finney being the original Satoshi Nakamoto.

Hal Finney, Image from Wired.

Yet another possible contender to be Satoshi Nakamoto is the Australian academic, computer engineering expert, and entrepreneur, Craig Wright. In early November of 2015, Gizmodo received an anonymous email from an individual stating that not only did he know that Craig Wright was the creator of Bitcoin, but that he had also worked for him11. On December 9, hours after Wired certified that Wright was indeed Nakamoto, the Australian Federal Police raided his home, and afterwards stating the [the] matter is unrelated to recent media reporting regarding the digital currency Bitcoin. Afterwards, Wright deleted his internet presence until May of 2016, when he stepped forward and revealed himself on Twitter as the creator of the digital currency Bitcoin12, and claimed he had the proof to back up his statement. Then, amid a torrent of skepticism, Wright retracted his statement and did not offer the extraordinary proof he claimed to have, stating that he did not have the courage to prove his identity13.

Craig Wright, Image from CCN.

In an era where information is widespread, Satoshi Nakamoto has managed to maintain his identity a complete secret. So why is uncovering Nakamotos identity so important? If Nakamoto is indeed a single individual, then he or she owns approximately 5% of the worlds Bitcoin supply, placing him or her as the 52nd richest person in the world as of December 12th14.

The implications of this wealth are considerable, beyond even the real world implications. If Satoshi Nakamoto were ever to sell the rumored 980,000 Bitcoins in his or her possession ( currently worth over $16 billion at todays price, as of 5th Jan 2018 ), the price of Bitcoin could potentially become more volatile than it already is.

Furthermore, there is significant debate as to the future of Bitcoin. Heated discussions have arisen due to some of the growing pains surrounding Bitcoin, particularly the issue of how to deal with an increase in transaction volume in the Bitcoin network. As the number of blocks increases, the Bitcoin network runs the risk of becoming overloaded. One side of the debate wants to fundamentally change the Bitcoin node by increasing the block size, in order to allow the system to process transactions more quickly. The other side of the debate sees this as a betrayal of the original concept behind Bitcoin, arguing that this would lead to increased centralization15. Identifying Bitcoins true creator would create more certainty and could potentially lay down the following steps in Bitcoins ever growing development.

Ultimately, identifying Bitcoins creator may be a quixotic endeavor. His or her complete silence since the Spring of 2011 means it is likely we will never hear from them again. Nevertheless, Bitcoin, the open source digital currency created nearly a decade ago, will continue to in spite of this mystery. The Bitcoin community will be forced to coexist with the enigma that is Satoshi Nakamoto, for the better or for the worst.

See the original post:

Who is Satoshi Nakamoto? A Look at the Candidates

Who is Satoshi Nakamoto? A Look at the Candidates

Bitcoin was conceived as a communal project. Designed as an open-source software and released to the public in 2009, Bitcoin was conceived with openness in mind. Functioning on an open ledger that is accessible to the public, Bitcoin is an open-source project. But for all its openness, one grand mystery remains unsolved:

Who Created Bitcoin and Who exactly is Satoshi Nakamoto?

First, lets detail what is known for certain. The first step was taken in 2007, when Nakamoto wrote the Bitcoin code1. In November 2008, Satoshi Nakamoto published his now famous White Paper, which laid the groundwork for the Bitcoin protocol2.

On January 3rd, 2009, the first ever Bitcoin block was mined, marking the creation of the cryptocurrency, it bore the message :

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Satoshi was heavily involved with the Bitcoin community, and collaborated with them in order to modify the underlying bitcoin protocol. After two years of involvement, Nakamoto handed the reins to Gavin Andresen, and seized involvement with the Bitcoin project in December of 2010. Then, in the Spring of 2011, Nakamoto returned to leave a final message, stating in a post that he had moved on to other things, and that Bitcoin was in good hands with Gavin [Andresen] and everyone. That was the last the world heard of the secretive Bitcoin creator.

The mystery behind Nakamotos identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 19753. It is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals.

While Nakamotos identity remains unknown, This has not stopped enthusiasts from investigating his background and drawing up conclusions. Nakamotos use of perfect English in his posts and his publication of the White Paper has raised skepticism as to his Japanese origin. Furthermore, his occasional use of British English in the code and comments has fueled speculation that he is a native English speaker of commonwealth origin4. Additionally, Stefan Thomas, a Swiss coder and active member in the Bitcoin community, graphed the time stamps of Nakamotos more than 500 posts, showing his or her complete absence of posts between midnight am and 6 am Greenwich Time, further informing investigators as to his potential whereabouts5.

To date, there are several potential individuals suspected of being the mysterious Bitcoin creator. One of the first suggestions was Nick Szabo, a decentralized currency enthusiast who published a paper on bit gold considered to be a precursor to the first cryptocurrency. Running a reverse textual analysis, internet researcher Skye Grey found dozens of unique phrases that linked Szabos writing style to that of the original White Paper6. This evidence is only circumstantial, however, and Szabo has repeatedly denied that he is the creator of Bitcoin.

Nick Szabo, Image from The-Blockchain

Another possibility is a Japanese American man living in California, named Dorian Prentice Satoshi Nakamoto, birth name Satoshi Nakamoto. First brought up in a March 2014 Newsweek article, Leah McGrath Goodman pointed to Nakamotos training as a physicist at Cal Poly University in Pomona and libertarian background as potential indicators of his identity. Her biggest piece of evidence was his response to a question regarding Bitcoin: I am no longer involved in that and I cannot discuss it. Its been turned over to other people. They are in charge of it now. I no longer have any connection.7 This led to a wild media frenzy, which even included a car chase. However, in a later interview, he recanted his previous position, stating that he had misunderstood the reporters question, thinking it was related to his previous classified work as a military contractor8.

Dorian Prentice Satoshi Nakamoto, Image from The Verge.

Hal Finney is another potential candidate to be the mysterious Satoshi Nakamoto. Finney was a pre-bitcoin cryptographic pioneer and was only the second person after Nakamoto himself to make use of the software, file bug reports, and suggest improvements.

Furthermore, he was the first to ever receive Bitcoin, stating in an interview that [he] was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to [him] as a test.9

Forbes journalist Andy Greenberg speculated after requesting aid from writing analysis consultancy Juola & Associates that Greenberg may have been the ghostwriter for Satoshi Nakamoto. Further adding to the speculation that Finney was involved with the creation of Bitcoin was his correspondence with the aforementioned Nick Szabo, and the fact that he lived only blocks apart from Dorian Prentice Satoshi Nakamoto10. At the time of his death on August 28, 2014, only circumstantial evidence pointed to Hal Finney being the original Satoshi Nakamoto.

Hal Finney, Image from Wired.

Yet another possible contender to be Satoshi Nakamoto is the Australian academic, computer engineering expert, and entrepreneur, Craig Wright. In early November of 2015, Gizmodo received an anonymous email from an individual stating that not only did he know that Craig Wright was the creator of Bitcoin, but that he had also worked for him11. On December 9, hours after Wired certified that Wright was indeed Nakamoto, the Australian Federal Police raided his home, and afterwards stating the [the] matter is unrelated to recent media reporting regarding the digital currency Bitcoin. Afterwards, Wright deleted his internet presence until May of 2016, when he stepped forward and revealed himself on Twitter as the creator of the digital currency Bitcoin12, and claimed he had the proof to back up his statement. Then, amid a torrent of skepticism, Wright retracted his statement and did not offer the extraordinary proof he claimed to have, stating that he did not have the courage to prove his identity13.

Craig Wright, Image from CCN.

In an era where information is widespread, Satoshi Nakamoto has managed to maintain his identity a complete secret. So why is uncovering Nakamotos identity so important? If Nakamoto is indeed a single individual, then he or she owns approximately 5% of the worlds Bitcoin supply, placing him or her as the 52nd richest person in the world as of December 12th14.

The implications of this wealth are considerable, beyond even the real world implications. If Satoshi Nakamoto were ever to sell the rumored 980,000 Bitcoins in his or her possession ( currently worth over $16 billion at todays price, as of 5th Jan 2018 ), the price of Bitcoin could potentially become more volatile than it already is.

Furthermore, there is significant debate as to the future of Bitcoin. Heated discussions have arisen due to some of the growing pains surrounding Bitcoin, particularly the issue of how to deal with an increase in transaction volume in the Bitcoin network. As the number of blocks increases, the Bitcoin network runs the risk of becoming overloaded. One side of the debate wants to fundamentally change the Bitcoin node by increasing the block size, in order to allow the system to process transactions more quickly. The other side of the debate sees this as a betrayal of the original concept behind Bitcoin, arguing that this would lead to increased centralization15. Identifying Bitcoins true creator would create more certainty and could potentially lay down the following steps in Bitcoins ever growing development.

Ultimately, identifying Bitcoins creator may be a quixotic endeavor. His or her complete silence since the Spring of 2011 means it is likely we will never hear from them again. Nevertheless, Bitcoin, the open source digital currency created nearly a decade ago, will continue to in spite of this mystery. The Bitcoin community will be forced to coexist with the enigma that is Satoshi Nakamoto, for the better or for the worst.

Read the original here:

Who is Satoshi Nakamoto? A Look at the Candidates

Satoshi Nakamoto Revealed Says UK Nonprofit Stylometry …

Self-described informative and interactive crypto website, Zy Crypto, a nonprofit based in England, believes it has struck ecosystem gold by discovering Satoshi Nakamotos real identity. Its the second attempt by the outfit, and both times theyve relied upon stylometry before concluding that Bitcoin Cash developer Gavin Andresen is Satoshi hiding in plain sight. This go-round analysis involves not only statistical analysis of prose, but also Maciej Eders bootstrapping method in an attempt to eliminate natural bias in such conclusions.

Also read: Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

Two upfront admittances, if readers indulge. The first is, I am a Troy Watson fan. I enjoy his work, and count myself as someone who approves of his earnest dive into such subjects. Second, I have probably read more about the present pseudonym under examination than is healthy, and not just because I make my living in the space. Flatly, I am obsessed. No clickbait here, or not intentionally. No hype. This is a fun pursuit, and one worth some effort as it involves cryptocurrencys origin story.

Zy Crypto is a curious little outfit based in a lesser-known part of the United Kingdom. Theyve the site proper, a news aggregation service, and what appear to be variations on the public relations themes of initial coin offerings and blockchains. To publish one, let alone two articles asserting both times how Bitcoin Cash developer Gavin Andresen is Satoshi, for once and for all, speaks volumes about either the confidence Zy has in its writer or the fact theyre sporting for clicks.

Consider this sentence, hitting readers right between the eyes: We identified Bitcoin Cash developer Gavin Andresen as being the real Satoshi Nakamoto, Mr. Watson boldly asserts before an immediate pivot towards technique. The primary methodology used in both examinations is whats known as stylometry. Its the study of prose put up against other writers as a way of determining patterns and is an actual predictive of authorship when done well.

Stylometry has picked up in recent years as an investigative tool when faced with the spectre of Satoshi Nakamoto. The pseudo anonymous creator of Bitcoin holds more than five percent of bitcoin in circulation, making him the first crypto billionaire. Should Mr. Nakamoto decide for shits and giggles to dump a significant amount of coin onto the market, not only would the price drop by virtue of economic law, confidence would probably crash as well, bringing down a giant chunk of whatever value bitcoin has. Its a big goddamn deal who Satoshi is.

The technology to out a writer wishing to remain in has proven its worth. In the mid 1960s, Frederick Mosteller used stylometry to establish authorship of the hotly contested Federalist Papers, determining James Madison as their probable main author (instead of Alexander Hamilton). It took him almost half a decade, whereas today software exists to run such analysis pretty fast. More famously, and recently, no less an author than zillion-selling Harry Potter creator JK Rowling was found to be the actual author of The Cuckoos Calling. A few years ago she wished to have her writing evaluated on its own merits, and so Ms. Rowling took a pen name. Stylometry outed her.

And Zy Crypto isnt the first to attempt applying the statistical method to Satoshis true identity. As bitcoins price began to skyrocket, so did interest in who its creator mightve been. During Craig Wrights supremely odd public display, outed by supposed hackers, claiming to be Satoshi and then suggesting it was a hoax, a couple of once well-regarded tech journals believed Mr. Wright to be Satoshi. International Business Times employed the very firm used to blow Ms. Rowlings cover, Juola & Associates. They soon determined what most in the know suspected: Mr. Wright wasnt bitcoins father (hed respond that he and partner David Kleiman collaborated on the project, but even that has been posthumously tainted). He managed to fool or convince or onboard original Bitcoin dev Gavin Andresen, who went so far as to record video testimony (Vitalik Buterin, Ethereum genius, weighed in on the noise of the matter, and later just outright spat fraud in Mr. Wrights direction).

Late 2017, price fever pitch reached maximum overdrive, and Michael Chon took his own swing at discovery. The Georgetown University and Booz Allen Hamilton alum concluded Satoshi was a group of devs, with some authoring the whitepaper while others engaged in email exchanges. He narrowed it down to four: Nick Szabo, Ian Grigg, Wei Dai, and Timothy C. May. Gavin Andresen wasnt considered, a subject to which we return.

Mr. Watson details how using Eders bootstrapped stylometry methodthis finding supports our previous article on the topic that also identified Gavin as Satoshi using Principal Component Analysis and Burrows delta. Knowing full well the history Ive outlined above, he concludes, A big part of this failure can be attributed to the lack of convergence validity in the stylometry field. And a pitfall within the field itself is how stylometrics often cherry pick results due to their algorithms producing vastly different results when slightly tweaked, he acknowledged. This led to suggesting Wei Dai as Satoshi, at least for a time.

This time, Mr. Watsons confidence in Mr. Andresen as Satoshi extends from Maciej Eder, who created a bootstrapping method specifically designed to overcome the problem of cherry picking elements like Most Frequent Words (MFW). The approach uses Burrows delta to find a difference between two texts, but also uses random sampling of MFW ranges so as to output more robust results. Burrows delta is basically a manhattan distance of z-scores which is sourced from a list of top words used in an entire corpus.

The rest of the article reads similarly, and the interested would do well with frequent searches of Wikipedia. Nevertheless, hes found that the first nearest neighbour was Satoshis email texts followed by 3 of Gavin Andresens Github documents and then followed by Satoshis forum texts. These findings are quite reasonable because not only do they validate the links between the Satoshi whitepaper-emails-forums but they also cluster Gavin as the likely author. Its also of interest that Gavins style was so much like Satoshis whitepaper that he beat Satoshi himself with the forum texts!

Still more discussion of limitations and technical methodology follows, and those without a statistical or mathematical background are cautioned. Its somewhat like reading French if you dont speak French. Yeah, theres the standard Latin alphabet and all, but thats about as far as most will get. Again, Wikipedia is a friend.I dont buy it in the end, and have instead relied upon resident ecosystem muckraker, Crypto Cornelius, as my prime response. I have identified Myself, he typed in the patois of most these studies, an amateur crypto enthusiast as being the real Satoshi Nakamoto using Yeders bootstrapped Coronary Angiogram stylometry method. This finding supports a previous thought when I woke up one night and thought Could I be Nakamoto? Sides splitting, tears dropping on the laptop as I type to you Dear Reader, he continues, Nano Stylometry was invented by Elon Musk and is a set of methods that aim to identify an unknown author by statistically deciphering their style using statistics, hard to understand graphics and random information. For geeks like me, good old Cornelius is necessary to bring us back to reality. Happy reading.

Is Gavin the real Satoshi? Let us know in the comments.

Images via the Pixabay, Twitter, giuatt07.

Verify and track bitcoin cash transactions on ourBCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts atSatoshis Pulse, another original and free service from Bitcoin.com.

Continue reading here:

Satoshi Nakamoto Revealed Says UK Nonprofit Stylometry …

Satoshi Nakamoto – Bitcoin Wiki

For the unit, see satoshi (unit).

Satoshi Nakamoto is the founder of Bitcoin and initial creator of the Original Bitcoin client. He has said in a P2P foundation profile[1] that he is from Japan. Beyond that, not much else is known about him and his identity. He has been working on the Bitcoin project since 2007.[2]

His involvement in the Bitcoin project had tapered and by late 2010 it has ended. The most recent messages reportedly indicate that Satoshi is “gone for good”[3].

He left some clues about why he is doing this project with the inclusion of the following text in the Genesis block, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.

Some interesting quotes:

Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory offreedom for several years.

Governments are good at cutting off the heads of a centrally controllednetworks like Napster, but pure P2P networks like Gnutella and Tor seem to beholding their own.[4]

His identity and nationality are unknown.

He is entirely unknown outside of Bitcoin as far as anyone can tell, and his (never used) PGP key was created just months prior to the date of the genesis block. He seems to be very familiar with the cryptography mailing list, but there are no non-Bitcoin posts from him on it. He has used an email address from an anonymous mail hosting service (vistomail) as well as one from a free webmail account (gmx.com) and sends mail when connected via Tor. Some have speculated that his entire identity was created in advance in order to protect himself or the network. Perhaps he chose the name Satoshi because it can mean “wisdom” or “reason” and Nakamoto can mean “Central source”.

Ultimately the design of Bitcoin and its use of cryptographic proof and fully open implementation is one that makes its creator, in a sense, irrelevant and only of interest for historical reasons.

Go here to see the original:

Satoshi Nakamoto – Bitcoin Wiki

Who is Satoshi Nakamoto? A Look at the Candidates

Bitcoin was conceived as a communal project. Designed as an open-source software and released to the public in 2009, Bitcoin was conceived with openness in mind. Functioning on an open ledger that is accessible to the public, Bitcoin is an open-source project. But for all its openness, one grand mystery remains unsolved:

Who Created Bitcoin and Who exactly is Satoshi Nakamoto?

First, lets detail what is known for certain. The first step was taken in 2007, when Nakamoto wrote the Bitcoin code1. In November 2008, Satoshi Nakamoto published his now famous White Paper, which laid the groundwork for the Bitcoin protocol2.

On January 3rd, 2009, the first ever Bitcoin block was mined, marking the creation of the cryptocurrency, it bore the message :

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Satoshi was heavily involved with the Bitcoin community, and collaborated with them in order to modify the underlying bitcoin protocol. After two years of involvement, Nakamoto handed the reins to Gavin Andresen, and seized involvement with the Bitcoin project in December of 2010. Then, in the Spring of 2011, Nakamoto returned to leave a final message, stating in a post that he had moved on to other things, and that Bitcoin was in good hands with Gavin [Andresen] and everyone. That was the last the world heard of the secretive Bitcoin creator.

The mystery behind Nakamotos identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 19753. It is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals.

While Nakamotos identity remains unknown, This has not stopped enthusiasts from investigating his background and drawing up conclusions. Nakamotos use of perfect English in his posts and his publication of the White Paper has raised skepticism as to his Japanese origin. Furthermore, his occasional use of British English in the code and comments has fueled speculation that he is a native English speaker of commonwealth origin4. Additionally, Stefan Thomas, a Swiss coder and active member in the Bitcoin community, graphed the time stamps of Nakamotos more than 500 posts, showing his or her complete absence of posts between midnight am and 6 am Greenwich Time, further informing investigators as to his potential whereabouts5.

To date, there are several potential individuals suspected of being the mysterious Bitcoin creator. One of the first suggestions was Nick Szabo, a decentralized currency enthusiast who published a paper on bit gold considered to be a precursor to the first cryptocurrency. Running a reverse textual analysis, internet researcher Skye Grey found dozens of unique phrases that linked Szabos writing style to that of the original White Paper6. This evidence is only circumstantial, however, and Szabo has repeatedly denied that he is the creator of Bitcoin.

Nick Szabo, Image from The-Blockchain

Another possibility is a Japanese American man living in California, named Dorian Prentice Satoshi Nakamoto, birth name Satoshi Nakamoto. First brought up in a March 2014 Newsweek article, Leah McGrath Goodman pointed to Nakamotos training as a physicist at Cal Poly University in Pomona and libertarian background as potential indicators of his identity. Her biggest piece of evidence was his response to a question regarding Bitcoin: I am no longer involved in that and I cannot discuss it. Its been turned over to other people. They are in charge of it now. I no longer have any connection.7 This led to a wild media frenzy, which even included a car chase. However, in a later interview, he recanted his previous position, stating that he had misunderstood the reporters question, thinking it was related to his previous classified work as a military contractor8.

Dorian Prentice Satoshi Nakamoto, Image from The Verge.

Hal Finney is another potential candidate to be the mysterious Satoshi Nakamoto. Finney was a pre-bitcoin cryptographic pioneer and was only the second person after Nakamoto himself to make use of the software, file bug reports, and suggest improvements.

Furthermore, he was the first to ever receive Bitcoin, stating in an interview that [he] was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to [him] as a test.9

Forbes journalist Andy Greenberg speculated after requesting aid from writing analysis consultancy Juola & Associates that Greenberg may have been the ghostwriter for Satoshi Nakamoto. Further adding to the speculation that Finney was involved with the creation of Bitcoin was his correspondence with the aforementioned Nick Szabo, and the fact that he lived only blocks apart from Dorian Prentice Satoshi Nakamoto10. At the time of his death on August 28, 2014, only circumstantial evidence pointed to Hal Finney being the original Satoshi Nakamoto.

Hal Finney, Image from Wired.

Yet another possible contender to be Satoshi Nakamoto is the Australian academic, computer engineering expert, and entrepreneur, Craig Wright. In early November of 2015, Gizmodo received an anonymous email from an individual stating that not only did he know that Craig Wright was the creator of Bitcoin, but that he had also worked for him11. On December 9, hours after Wired certified that Wright was indeed Nakamoto, the Australian Federal Police raided his home, and afterwards stating the [the] matter is unrelated to recent media reporting regarding the digital currency Bitcoin. Afterwards, Wright deleted his internet presence until May of 2016, when he stepped forward and revealed himself on Twitter as the creator of the digital currency Bitcoin12, and claimed he had the proof to back up his statement. Then, amid a torrent of skepticism, Wright retracted his statement and did not offer the extraordinary proof he claimed to have, stating that he did not have the courage to prove his identity13.

Craig Wright, Image from CCN.

In an era where information is widespread, Satoshi Nakamoto has managed to maintain his identity a complete secret. So why is uncovering Nakamotos identity so important? If Nakamoto is indeed a single individual, then he or she owns approximately 5% of the worlds Bitcoin supply, placing him or her as the 52nd richest person in the world as of December 12th14.

The implications of this wealth are considerable, beyond even the real world implications. If Satoshi Nakamoto were ever to sell the rumored 980,000 Bitcoins in his or her possession ( currently worth over $16 billion at todays price, as of 5th Jan 2018 ), the price of Bitcoin could potentially become more volatile than it already is.

Furthermore, there is significant debate as to the future of Bitcoin. Heated discussions have arisen due to some of the growing pains surrounding Bitcoin, particularly the issue of how to deal with an increase in transaction volume in the Bitcoin network. As the number of blocks increases, the Bitcoin network runs the risk of becoming overloaded. One side of the debate wants to fundamentally change the Bitcoin node by increasing the block size, in order to allow the system to process transactions more quickly. The other side of the debate sees this as a betrayal of the original concept behind Bitcoin, arguing that this would lead to increased centralization15. Identifying Bitcoins true creator would create more certainty and could potentially lay down the following steps in Bitcoins ever growing development.

Ultimately, identifying Bitcoins creator may be a quixotic endeavor. His or her complete silence since the Spring of 2011 means it is likely we will never hear from them again. Nevertheless, Bitcoin, the open source digital currency created nearly a decade ago, will continue to in spite of this mystery. The Bitcoin community will be forced to coexist with the enigma that is Satoshi Nakamoto, for the better or for the worst.

Continued here:

Who is Satoshi Nakamoto? A Look at the Candidates

Satoshi Nakamoto Institute

Mempool

Economics of Bitcoin as a Settlement NetworkFrom the settlement layer view, the growing adoption of Bitcoin is increasing its liquidity internationally, allowing it to compete with global reserve currencies for increasingly more valuable transactions, causing transaction fees to rise.

Read more

The Crypto-Mises Podcast offers commentary on Bitcoin, economics, cryptography, and current events.

See episodes

You can help us achieve our goals by donating today. Bitcoins only.

Donate

Link:

Satoshi Nakamoto Institute

Satoshi Nakamoto Institute

Mempool

Economics of Bitcoin as a Settlement NetworkFrom the settlement layer view, the growing adoption of Bitcoin is increasing its liquidity internationally, allowing it to compete with global reserve currencies for increasingly more valuable transactions, causing transaction fees to rise.

Read more

The Crypto-Mises Podcast offers commentary on Bitcoin, economics, cryptography, and current events.

See episodes

You can help us achieve our goals by donating today. Bitcoins only.

Donate

Continued here:

Satoshi Nakamoto Institute

Who is Satoshi Nakamoto? A Look at the Candidates

Bitcoin was conceived as a communal project. Designed as an open-source software and released to the public in 2009, Bitcoin was conceived with openness in mind. Functioning on an open ledger that is accessible to the public, Bitcoin is an open-source project. But for all its openness, one grand mystery remains unsolved:

Who Created Bitcoin and Who exactly is Satoshi Nakamoto?

First, lets detail what is known for certain. The first step was taken in 2007, when Nakamoto wrote the Bitcoin code1. In November 2008, Satoshi Nakamoto published his now famous White Paper, which laid the groundwork for the Bitcoin protocol2.

On January 3rd, 2009, the first ever Bitcoin block was mined, marking the creation of the cryptocurrency, it bore the message :

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Satoshi was heavily involved with the Bitcoin community, and collaborated with them in order to modify the underlying bitcoin protocol. After two years of involvement, Nakamoto handed the reins to Gavin Andresen, and seized involvement with the Bitcoin project in December of 2010. Then, in the Spring of 2011, Nakamoto returned to leave a final message, stating in a post that he had moved on to other things, and that Bitcoin was in good hands with Gavin [Andresen] and everyone. That was the last the world heard of the secretive Bitcoin creator.

The mystery behind Nakamotos identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 19753. It is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals.

While Nakamotos identity remains unknown, This has not stopped enthusiasts from investigating his background and drawing up conclusions. Nakamotos use of perfect English in his posts and his publication of the White Paper has raised skepticism as to his Japanese origin. Furthermore, his occasional use of British English in the code and comments has fueled speculation that he is a native English speaker of commonwealth origin4. Additionally, Stefan Thomas, a Swiss coder and active member in the Bitcoin community, graphed the time stamps of Nakamotos more than 500 posts, showing his or her complete absence of posts between midnight am and 6 am Greenwich Time, further informing investigators as to his potential whereabouts5.

To date, there are several potential individuals suspected of being the mysterious Bitcoin creator. One of the first suggestions was Nick Szabo, a decentralized currency enthusiast who published a paper on bit gold considered to be a precursor to the first cryptocurrency. Running a reverse textual analysis, internet researcher Skye Grey found dozens of unique phrases that linked Szabos writing style to that of the original White Paper6. This evidence is only circumstantial, however, and Szabo has repeatedly denied that he is the creator of Bitcoin.

Nick Szabo, Image from The-Blockchain

Another possibility is a Japanese American man living in California, named Dorian Prentice Satoshi Nakamoto, birth name Satoshi Nakamoto. First brought up in a March 2014 Newsweek article, Leah McGrath Goodman pointed to Nakamotos training as a physicist at Cal Poly University in Pomona and libertarian background as potential indicators of his identity. Her biggest piece of evidence was his response to a question regarding Bitcoin: I am no longer involved in that and I cannot discuss it. Its been turned over to other people. They are in charge of it now. I no longer have any connection.7 This led to a wild media frenzy, which even included a car chase. However, in a later interview, he recanted his previous position, stating that he had misunderstood the reporters question, thinking it was related to his previous classified work as a military contractor8.

Dorian Prentice Satoshi Nakamoto, Image from The Verge.

Hal Finney is another potential candidate to be the mysterious Satoshi Nakamoto. Finney was a pre-bitcoin cryptographic pioneer and was only the second person after Nakamoto himself to make use of the software, file bug reports, and suggest improvements.

Furthermore, he was the first to ever receive Bitcoin, stating in an interview that [he] was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to [him] as a test.9

Forbes journalist Andy Greenberg speculated after requesting aid from writing analysis consultancy Juola & Associates that Greenberg may have been the ghostwriter for Satoshi Nakamoto. Further adding to the speculation that Finney was involved with the creation of Bitcoin was his correspondence with the aforementioned Nick Szabo, and the fact that he lived only blocks apart from Dorian Prentice Satoshi Nakamoto10. At the time of his death on August 28, 2014, only circumstantial evidence pointed to Hal Finney being the original Satoshi Nakamoto.

Hal Finney, Image from Wired.

Yet another possible contender to be Satoshi Nakamoto is the Australian academic, computer engineering expert, and entrepreneur, Craig Wright. In early November of 2015, Gizmodo received an anonymous email from an individual stating that not only did he know that Craig Wright was the creator of Bitcoin, but that he had also worked for him11. On December 9, hours after Wired certified that Wright was indeed Nakamoto, the Australian Federal Police raided his home, and afterwards stating the [the] matter is unrelated to recent media reporting regarding the digital currency Bitcoin. Afterwards, Wright deleted his internet presence until May of 2016, when he stepped forward and revealed himself on Twitter as the creator of the digital currency Bitcoin12, and claimed he had the proof to back up his statement. Then, amid a torrent of skepticism, Wright retracted his statement and did not offer the extraordinary proof he claimed to have, stating that he did not have the courage to prove his identity13.

Craig Wright, Image from CCN.

In an era where information is widespread, Satoshi Nakamoto has managed to maintain his identity a complete secret. So why is uncovering Nakamotos identity so important? If Nakamoto is indeed a single individual, then he or she owns approximately 5% of the worlds Bitcoin supply, placing him or her as the 52nd richest person in the world as of December 12th14.

The implications of this wealth are considerable, beyond even the real world implications. If Satoshi Nakamoto were ever to sell the rumored 980,000 Bitcoins in his or her possession ( currently worth over $16 billion at todays price, as of 5th Jan 2018 ), the price of Bitcoin could potentially become more volatile than it already is.

Furthermore, there is significant debate as to the future of Bitcoin. Heated discussions have arisen due to some of the growing pains surrounding Bitcoin, particularly the issue of how to deal with an increase in transaction volume in the Bitcoin network. As the number of blocks increases, the Bitcoin network runs the risk of becoming overloaded. One side of the debate wants to fundamentally change the Bitcoin node by increasing the block size, in order to allow the system to process transactions more quickly. The other side of the debate sees this as a betrayal of the original concept behind Bitcoin, arguing that this would lead to increased centralization15. Identifying Bitcoins true creator would create more certainty and could potentially lay down the following steps in Bitcoins ever growing development.

Ultimately, identifying Bitcoins creator may be a quixotic endeavor. His or her complete silence since the Spring of 2011 means it is likely we will never hear from them again. Nevertheless, Bitcoin, the open source digital currency created nearly a decade ago, will continue to in spite of this mystery. The Bitcoin community will be forced to coexist with the enigma that is Satoshi Nakamoto, for the better or for the worst.

View original post here:

Who is Satoshi Nakamoto? A Look at the Candidates

Satoshi Nakamoto Institute

Mempool

Economics of Bitcoin as a Settlement NetworkFrom the settlement layer view, the growing adoption of Bitcoin is increasing its liquidity internationally, allowing it to compete with global reserve currencies for increasingly more valuable transactions, causing transaction fees to rise.

Read more

The Crypto-Mises Podcast offers commentary on Bitcoin, economics, cryptography, and current events.

See episodes

You can help us achieve our goals by donating today. Bitcoins only.

Donate

The rest is here:

Satoshi Nakamoto Institute

Satoshi Nakamoto was interested in joining Trons Atlas …

The CEO and founder of Tron foundation has revealed that the unknown person who developed bitcoin, Satoshi Nakamoto, himself was interested in joining hands with the Atlas project of Tron.

Sun wrote on Twitter on Wednesday, “It seems that Satoshi Nakamoto himself was interested in joining our Atlas project since Nov. 03 2008.”

The CEO revealed Tron’s secret project, Atlas, on July 30. Every Tron enthusiasts had been anticipating for its announcement for quite sometime.

Sources report that the Atlas project is an amalgamation of both BitTorrent and Tron. Its initial phase has been completed and a route map for the upcoming three months has been charted out. Further details will be revealed by the end of August.

The CEO revealed, Finally, I would like to say a few things about our project, our secret project, now we name it Atlas, after the BitTorrent acquisition.

Bitcoin: A Peer-to-Peer Electronic Cash System created by Santoshi Nakamoto says: “for transferrable proof of work tokens to have value, they must have monetary value. To have monetary value, they must be transferred within a very large network- for example a file-trading network akin to BitTorrent.”

In order to make the lifespan of BitTorrent swarms faster and durable the foundation is exploring the opportunity to add more features to the BitTorrent protocol with the help of Tron protocol. The network will act as an online protocol for the Atlas project.

The Founder and CEO of the Foundation said, Starting from today, Tron will enter a new phase of expanding our current ecosystem. We are grateful for what we have achieved in the past and we are looking forward to seeingwhat the future holds for us.

Tron has witnessed a series of new developments in the past few weeks. In fact, on July 30,Tron launched Tron Virtual Machine and introduced a new project known as Project Atlas withBitTorrent. Now, the blockchain founder Justin Suns next move is to set up an office in India,South China Morning Postreported.

Sun recently moved to his new office in Beijing and he is already making expansion plans. Hisnext move is to set up an office in India. Currently, crypto enthusiasts in India are waiting for Supreme Court of Indias final verdict on the fate of cryptocurrency exchanges in the country.

Join ourtelegramgroup

Read the original here:

Satoshi Nakamoto was interested in joining Trons Atlas …

Satoshi Nakamoto: 9 Interesting Facts You Need To Know

Like the dramatic quest ofHollywood movieFinding Nemo,this quest of finding Satoshi Nakamoto the inventor of Bitcoin has also been dramatic.

Its fascinating to see how Bitcoin has become a multi-billion dollar thing, yet the Father of Bitcoin is still missing.

Satoshi Nakamoto made the Bitcoin software in 2008 and made it open source in January 2009.

And in 2010, Satoshi disappeared.

No one even knows what pronoun to use(he, she, or they)while referring to Satoshi Nakamoto because it is still not clear whether he/she is a person or a group of people.

Whomever Satoshi Nakamoto might be, there are some interesting facts about the entity that gave birth to this multi-billion dollar industry of cryptocurrencies.

Here are 9 interesting facts

1. Why is Satoshi Nakamoto Famous?

The name Satoshi Nakamoto is the pseudonym of the inventor of Bitcoin. In 2008, someone used this name and mailed the Bitcoin white paper to a cryptographic mailing list.

This mailing list contained renowned people who believedin decentralization and cryptography.

Thats why this name is so famous.

As is apparent from the name, its assumed that he was a Japanese man, but his flawless use of English in the white paper raises doubts about this conclusion.

Satoshis Mail

2. Satoshis Net Worth

It is believed that Satoshi Nakamoto owns 1 million bitcoins(or more) which makes his present net worth at the time of writing this article to be $2.6 billion.

In 2009 January, Satoshi mined the Genesis block, andin 2010, he officially stopped communicating. Between this period, the bitcoins came into existence exist on the blockchain ledger, but they have not been used or spent. Thisproves how much Satoshi owns.

1 million BTC is a huge number which, if dumped suddenly, could wreak havoc on the crypto market. Thats why Bitcoin has also earned the title of being a Ponzi scheme-because the speculative founder owns a significant share.

3. Satoshis T-Shirts

The anonymity of Bitcoins founder has led to a mushrooming of a totally new merchandising concept. Now you can buy T-Shirts with Satoshi Nakamoto things printed on it.

Things like:

You can buy one for yourself from e-commerce sites likeZazzleandTeespring.

4. Satoshi Nakamoto is Possibly A Group Of Companies

Some even suggest that Samsung, Toshiba, Nakamichi, and Motorola together created Bitcoin, as you can tell from their names:

Satoshi Nakamoto

However, there is no official proof for such conclusion.

5. Satoshi Nakamoto is PossiblyNick Szabo

Nick Szabo, a US computer scientist, and cryptographer is considered by some to be the founder of Bitcoin. Nick coined the concept of digital currency for the digital age by creating Bit Gold. Bit Gold was the ancestor of Bitcoin. However, it was not used by the masses because of limitations.

After analysis of Satoshis white paper, a blogger concluded that Nick Szabo was Satoshi Nakamoto. but Nick has never accepted this hypothesis.

6. Satoshi Nakamoto is PossiblyCraig Steven Wright

Craig Wright, an Australian Entrepreneur, claimed to the BBC on 2nd May 2016 to be the inventor of Bitcoin. However, when examined by core Bitcoin developers like Peter Todd, Craig was unable to provide any acceptable supporting evidence for such a claim.

Though initially, he said he would come back with relevant evidence, he failed to do so, and said on his blog that he was sorry and didnt have the courage to continue.

7. Satoshi Nakamoto is PossiblyDorian Nakamoto

In March 2014, another speculation came on the identity of Satoshi. A news source claimed that they had found Satoshi, and he lived inCalifornia, USA.

His full name, as reported, was Dorian Prentice Satoshi Nakamoto. He was aphysicist and a systems engineer who had recently been laid off by the government.

Later on, the person identified denied all such claims and said he is not the Nakamoto which everyone has been searching for.

8.Satoshi Nakamoto is PossiblyHal Finney

Hal was a cryptographer even before his involvement with Bitcoin. He was on the mailing list that received Satoshi Nakamotos Bitcoin white paper.

Hal claimed that he had been communicating with Satoshi to support his testing, which led to the speculative conclusion that he himself was Satoshi.

Hals writing style also closely resembles that of Satoshis in the Bitcoin white paper. The suspicion evaporated when he showed his email conversation with Satoshi, but that could just be a diversion tactic.

Fun fact:Hal was the first person to receive a Bitcoin transaction from Satoshi on January 12, 2009, after Satoshi mined the genesis block on3rd January 2009 at 18:15:05 GMT.

9. Fast Company Found Satoshi Nakamoto

An employee of Fast Company, a media brand, said thatNeal King, Vladimir Oksman, and Charles Bry were the group of people that created Bitcoin. This employee proved it by searching unique phrases in Satoshis white paper.

They even patented the phrase which appears on the Bitcoin white paper computationally impractical to reverse.

However, all of them have publically denied such allegations.

Whatever anyone may say or think, the anonymity factor of Satoshi Nakamoto has proven to be healthy for Bitcoin.

But theres still a big mystery here:

Where is Satoshi, what is Satoshi doing, and why is Satoshi hiding?

No one knows the truth.

I would like to end this article by quoting two very early adopters of Bitcoin, Erik Voorhees andRoger Ver(two people who are definitely worth following on Twitter).

Bitcoin is the most important invention in the history of the world since the internet.

Roger Ver, Bitcoin Jesus

Can we take a moment to reflect on the fact that the Bitcoin protocol STILL hasn’t been hacked? One of the greatest comp sci accomplishments

Erik Voorhees (@ErikVoorhees) May 13, 2015

This shows how important Bitcoin, blockchain technology, and of course, Satoshi Nakamoto all are!

And yes, Bitcoin has become more important than a single individual, but we would all love to solve this mystery once and for all.

If you know any more interesting facts that I have missed in this article, thendo let me know in the comments below!!!

And if you liked this post, dont forget to share it!

Here are hand-picked articles to read next:

Read this article:

Satoshi Nakamoto: 9 Interesting Facts You Need To Know

Satoshi Nakamoto Institute

>[Lengthy exposition of vulnerability of a systm to use-of-force>monopolies ellided.]>>You will not find a solution to political problems in cryptography.

Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.

Satoshi

———————————————————————The Cryptography Mailing ListUnsubscribe by sending “unsubscribe cryptography” to [EMAIL PROTECTED]

View post:

Satoshi Nakamoto Institute

Satoshi Nakamoto Institute

>[Lengthy exposition of vulnerability of a systm to use-of-force>monopolies ellided.]>>You will not find a solution to political problems in cryptography.

Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.

Satoshi

———————————————————————The Cryptography Mailing ListUnsubscribe by sending “unsubscribe cryptography” to [EMAIL PROTECTED]

Read more here:

Satoshi Nakamoto Institute


12345...