People today know well the name Satoshi Nakamoto, team or the individual who made Bitcoin. However, there are a lot of individuals who do not understand. Following is a listing of Satoshi Nakamoto facts that you will find interesting.
BONUS: For further information, you can look via Satoshi’s profile on Bitcointalk.org or the Bitcoin white paper.
The identity of Satoshi Nakamoto is unknown. Nakamoto is a nickname for a group of developers or one developer. We do not know what is Satoshi’s age and gender; however, for the purposes of this article, we will refer to Satoshi as a male.
Further research shows that it was a group of people. Satoshi’s language in more than 500 posts on Bitcointalk forum points into this direction. He says for example:” we have been working on this and this” and “I have been focusing on that.”
Though he didn’t invent the digital money, Satoshi Nakamoto built blockchain technology and Bitcoin on the top of it. In addition, he founded Bitcointalk.org, the most popular cryptocurrency forum today.
Bitcoin wasn’t the first digital currency, but it was the first decentralized currency. Other digital currencies have existed, but they have been centralized. Satoshi believed that this is exactly why those businesses ended up failing. He pointed to TOR (network to allow using the Internet anonymously) as a good example of a decentralized platform. TOR did and still does well and was not taken down by governments. On the other hand, Satoshi pointed into the centralized Napster as a bad example that didn’t work and was taken down.
One inspiration for Bitcoin was b-money that Satoshi cites in the Bitcoin white paper. The citations in the white newspaper point to the idea that Satoshi was researching bits, hashes, and electronic currencies since the 1990s. This gives us some idea about his age.
Although Bitcoin is the earliest notable modern cryptocurrency, the earliest decentralized cryptocurrency might be traced straight back into Bit gold (not to be confused with Bitgold). Bit gold was the project of a Nick Szabo in years 1998 to 2005 but was never implemented.
In many ways, Bitcoin was made as a reply to the fiscal crisis. Satoshi uses this as justification for Bitcoin significantly.
The native languish of Satoshi is English. He thanks folks for translations from English into French and Spanish.
Satoshi was tremendously innovative. By way of instance, he was the first to fix the double spending issues and came up with fixes for flooding attacks.
Micropayments were a stage and attention because of the early times. At the time he believed host tanks and bandwidth expenses might solve this matter.
Not only is there a restricted supply printed, but lost coins cannot be recovered. Thus, the amount of present coins dwindles over time as access to coins is dropped.
His second to the last article on Bitcointalk stated:”It’d have been nice to find this attention in any other circumstance. WikiLeaks did a bad job, and the swarm is directed at us”. It was an interesting a sudden end to Satoshi the public character, but hardly the end of Bitcoin.
The public doesn’t know who Satoshi, and at the end of the day, it would be improper. It’s clear that he wanted to become anonymous so let us keep it this way.