Bitcoin's (btc) New Record Price Of $6,000 Means Satoshi Nakamoto Is Worth $5.9 Billion Quartz
Bitcoin recorded a new high today, hitting $5,991 on the benchmark CoinDesk price index. On major exchanges like Bitfinex and Bitstamp, the price briefly crossed $6,000 intraday. While bitcoin bulls celebrate yet another milestone for the cryptocurrency, there is one major beneficiary to what has essentially been a nine year-long rally: bitcoins inventor, Satoshi Nakamoto. The pseudonymous creator is estimated to own 980,000 bitcoins , amassed from mining the cryptocurrency in its early days. The stash has remained untouched for years. What is that worth today? At $6,000 a coin, Satoshi would be worth $5.9 billion. That would put him/her/they at number 247 on Forbes list of the worlds richest people . Satoshi is just below Wal-Mart heiress Ann Walton Kroenke and Samsung scion Jay Lee; and above Alibabas Joseph Tsai and Mara Asuncin Aramburuzabala, who inherited the Corona brewery fortune. Thats a good return for writing a piece of nine-year-old, open-source software. And arguably, even $5.9 billion is too small a reward for inventing magic internet money . Continue reading >>
How Many Bitcoins Does Satoshi Nakamoto Have And Why Do They Keep Sending Him Money?
How many bitcoins does Satoshi Nakamoto have and why do they keep sending him money? When Satoshi Nakamoto created a payment network based on cryptography under the name Bitcoin, he never imagined the revolution that this would mean. A simple message written in a public mailing list changed the world of finance (and most likely the world) by opening the way to the blockchain era. This email, dated Sat, 01 Nov 2008 sent exactly at 16:16:33, simply made him look like a computer geek, developing a project from home and sharing it with a group of cryptography enthusiasts on the metzdowd.com website: Ive been working on a new electronic cash system thats fully peer-to-peer, with no trusted third party. Those were Satoshi Nakamotos first words to the world, generating a series of diverse reactions that can be observed in the responses to that message, ranging from curiosity to sheer skepticism. Then, by Thu Jan 8 14:27:40 EST 2009, Satoshi announced the public release of his project, one that was not going to grow quickly until next year, but still, a project he (or she) knew it was worth to spread and trust. Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double-spending. Its completely decentralized with no server or central authority. Download link: With this message began an interconnection of enthusiasts who were actually not quite sure what to do with that coin, but still believed in its potential. The first BTC transaction ever was made by Satoshi Nakamoto himself to another enthusiast who, from his very first mail, showed great enthusiasm for what Bitcoin could represent: Mr. Hal Finney. At the time he recognized a fundamental problem but, in an almost prophetic way, also spoke of what Bitcoin could be Continue reading >>
Blockchain - How Many Coins Does Satoshi Have? - Bitcoin Stack Exchange
marked as duplicate by Nate Eldredge , Tony , cdecker , dchapes , Stphane Gimenez Jun 17 '14 at 11:00 This question has been asked before and already has an answer. If those answers do not fully address your question, please ask a new question . Close not sure if it's a duplicate though. Asking which wallets belong to someone is a pretty different question and is impossible to answer I think this is a better wording and more likely for people to come across later. mschuett Jun 7 '14 at 6:13 @mschuett. it really isnt any different unless you want to argue semantics. the only reason to ask is to know how much someone premined. and as the answer in nate's linked question says, you can find out which wallet(s) are his in the same manner as you would his wealth. the only reason you're arguing differently is so that you can copy the answer in nate's linked question in a vain attempt at rep whoring. Matt Jun 7 '14 at 6:40 @mschuett: If this is closed as a duplicate, it won't be deleted, it will just get a prominent link to the earlier question. It will still appear in searches, so people who try this wording would find it, and then be directed to the other question. The usual protocol on this site is to post all answers on the earliest question, so they are all together. Nate Eldredge Jun 7 '14 at 15:07 @mattburnett No intention of rep whoring. As you can see I barely post and could care less if i get some magic internet points. I did not know as Nate said the normal way to do this was to always link forward to the new one. Please don't make stack exchange a toxic environment for new and old users alike I see no benefit in driving away people. mschuett Jun 8 '14 at 16:45 Continue reading >>
People Keep Sending Satoshi Nakamoto Bitcoin
People Keep Sending Satoshi Nakamoto Bitcoin Satoshi Nakamoto is the original hodler, having left the bulk of his coins unmoved since day one. The theoretical wealth of bitcoins pseudonymous creator is a hot topic, and one that the mainstream media are especially fond of pondering. In recent weeks, bitcoins record highs have propelled Satoshi into the billionaire league, making him one of the worlds 50 richest people. Theres another reason why Satoshis digital wealth is growing however: people keep sending him bitcoin. Also read: It Came from the East: How Asia Bolstered Cryptocurrencies in 2017 The number of bitcoins owned by Satoshi Nakamoto is widely regarded as being 1,148,800, based on a detailed analysis that was published in 2013. Evidence shows that the bulk of the first 36,000 blocks was mined by one computer, which can only have been Satoshi. At the time, the reward per block was 50 BTC and of the 1,814,400 awarded, 63% was never spent, leaving Satoshi with a fortune of over 1.1 million BTC. Bill Gates: currently worth four times as much as Satoshi. Today, that would mean Satoshi Nakamoto is worth around $16.8 billion. Add in another $3.4 billion in bitcoin cash, $370 million in bitcoin gold, ignore every fork after that and you wind up with total assets of $20.5 billion. This is all hypothetical of course, since most people believe that Satoshis coins will never move for various reasons. Nevertheless, on paper at least, Satoshi Nakamotos unclaimed billions place him 37th in the worlds rich list , above Microsoft founder Paul Allen and just $5 billion behind George Soros. The only Satoshi to officially make Forbes billionaires list, incidentally, is cosmetics titan Satoshi Suzuki. With a fortune of just $1.3 billion however, he ranks a distant 1,567th. If or Continue reading >>
Bitcoins Origin Story Remains Shrouded In Mystery. Here's Why It Matters
Bitcoins origin story remains shrouded in mystery. Here's why it matters One of the biggest mysteries in the technology world is the identity of Satoshi Nakamoto, the computer programmer who invented the digital currency bitcoin. That's because the nameSatoshi Nakamotois a pseudonym. It could represent a man, a woman, or even a group of people. And, since the cryptocurrency was created in 2008, no one has been able to figure out who Nakamoto really is. But beyond solving a longstanding mystery, experts agree that uncovering Nakamoto's identity could have an immense impact on bitcoin's economics and internal politics. In 2008, Nakamoto published a nine-page white paper containing the first-ever mention of bitcoin, calling it a "peer-to-peer electronic cash system." A few months later, Nakamoto released bitcoin's first software and partnered with developers and coders online to improve it. This collaborative environment continued until 2011 when, without warning, Nakamoto vanished. Before ceasing all online communication, they emailed a fellow bitcoin developer saying they had "moved on to other things." But here's the catch: Nakamoto didn't walk away empty-handed. Sergio Demian Lerner, an Argentine researcher, has estimated that Nakamoto accumulated around a million bitcoins before disappearing. Today, that stash is worth over $5 billion. Matt Green, a cryptocurrency professor at Johns Hopkins University, says Nakamoto has the power to tank the currency if he wants to. Bitcoin has a finite supply of 21 million which is expected to be reached by the year 2140. Nakamoto's one million bitcoins amount to five percent of the entire cryptocurrency. "The thing about bitcoin is if you control a million of them, you have the ability to flood the market at any point. Think of the Continue reading >>
Bitcoin Creator Satoshi Nakamoto May Be Sitting On $5.8b | Money
Its been a very good year for Bitcoin, with the cryptocurrency climbing more than 600% to over $6,000. As result, one of Bitcoins largest holders appears to now be worth nearly $6 billion. In 2013, Bitcoin watcher and head of cryptocurrency firm rsk.co Sergio Lerner wrote a series of blog posts explaining why he believes an account holding 980,000 individual Bitcoins belongs to Bitcoins mysterious founder, Satoshi Nakamoto. Lerner analyzed the path of the first Bitcoins ever created, or mined, and traced them to a single mining source. Lerner then correlated this source to about 19,600 other Bitcoin blocks, which were actually just sets of cryptographic puzzles that, when solved, were worth 50 Bitcoins in 2010. This mining entity stopped at 19,600, and never moved any of the Bitcoins it had earned. Lerner believed anyone who wasnt Satoshi would have almost certainly tried to sell at least some of the Bitcoins, to take profits on what turned out to be as successful, if speculative, investment. The fact that none of the Bitcoins have been touched suggests the miner has shown complete trust in Bitcoin and is almost certainly therefore Satoshi, according to Lerner. Nolan Bauerle, researcher at bitcoin news and research group CoinDesk, says that Lerners analysis is generally accepted as accurate within the Bitcoin community. The leading analysis remains what Sergio Demian Lerner published 3-4 years ago, Bauerle says. There has not been much done besides this, but that analysis managed to turn into something people quote as the truth. In an email, Lerner told MONEY that since he published his original posts,Nothing has changed about the supposed Satoshi holdings and that no additional coin has been spent and no research has revealed anything else about them. Hence, the alleg Continue reading >>
Satoshi Nakamoto - Wikipedia
Inventing bitcoin , implementing the first blockchain , deploying the first decentralized digital currency Digital currencies , computer science , cryptography Satoshi Nakamoto is the name used by the unknown person or people who designed Bitcoin and created its original reference implementation .  As part of the implementation, they also devised the first blockchain database.  In the process they were the first to solve the double-spending problem for digital currency . They were active in the development of Bitcoin up until December 2010. On a P2P Foundation profile, Nakamoto claimed to be a man living in Japan , born on 5 April 1975.  Speculation about the true identity of Nakamoto has mostly focused on a number of cryptography and computer science experts of non-Japanese descent, living in the United States and Europe.  In October 2008, Nakamoto published a paper   on the cryptography mailing list at metzdowd.com  describing the Bitcoin digital currency. It was titled "Bitcoin: A Peer-to-Peer Electronic Cash System". In January 2009, Nakamoto released the first Bitcoin software that launched the network and the first units of the Bitcoin cryptocurrency , called Bitcoins.   Satoshi Nakamoto released the Version 0.1 of Bitcoin software on Sourceforge on 9 January 2009. Nakamoto claimed that work on the writing of the code began in 2007.  The inventor of Bitcoin knew that due to its nature, the core design would have to be able to support a broad range of transaction types. The implemented solution enabled specialized codes and data fields from the start through the use of a predicative script .  Nakamoto created a website with the domain name Bitcoin.org and continued to collaborate with other developers on the Bitcoin software unti Continue reading >>
Could Satoshi Nakamoto Become The World's First Trillionaire?
We don't know the true identity of Satoshi Nakamoto, the creator of Bitcoin. We don't know if Nakamoto is a singular person or a group of people. We don't even know if Nakamoto is alive or dead. But if Nakamoto is a single person, they're currently the 52nd richest person in the world when measured against Forbes' list of billionaires. And judging by the way Bitcoin's price has exploded, they might soon sit on top of that list, potentially as the world's first trillionaire. SEE ALSO: Bitcoin just made the Winklevoss twins billionaires Here's the basics: Nakamoto is estimated to hold nearly 1 million bitcoins, giving him a net worth of more than $17 billion based on bitcoin's price as of Tuesday. That would slot Nakamoto around 52nd near German retail overlord Dieter Schwarz . Satoshi's actual fortune isn't easy to sum up, as his bitcoins the first coins created on the Bitcoin network are scattered over hundreds or thousands of addresses. But according to research by Sergio Demian Lerner , the figure is likely around 980,000 bitcoins (a debate on the Bitcointalk forums on this topic hasn't reached a consensus, but most people agree the figure is around 1 million coins). There's plenty of skepticism around the future of Bitcoin's price and whether or not Nakamoto will ever be able to cash out for even a fraction of that amount. Bitcoin proponents, however, are predicting that the 2017 explosion is just the start. If they're right, the notion that Nakamoto could become the world's first trillionaire is suddenly not inconceivable. The projection that Nakamoto could become the world's first trillionaire comes with several caveats. Save for some early test transactions, Satoshi's bitcoins have never moved. For all we know, he's never spent a single bitcoin. In his communicat Continue reading >>
What If Satoshi Nakamoto Sold All His Bitcoin Today?
What If Satoshi Nakamoto Sold All His Bitcoin Today? If Nakamoto was to move his coins, what would happen with the market? Essentially, the mysterious nature of Satoshi Nakamoto , Bitcoin's creator, means that the entire ecosystem is sitting on a potential volcano. It lays dormant at the moment, but if the creator had the inkling, he could flood the market with one mln coins and destroy its value. One of the biggest mysteries in the technology world is the identity of Satoshi Nakamoto. No one knows who he is, where he is or what he is doing with his millions. That is millions, as in millions of Bitcoins as it has been reasonably estimated that Nakamoto could own over one mln coins . Matt Green , a cryptocurrency professor at Johns Hopkins University, says Nakamoto has the power to tank the currency if he wants to. Bitcoin has a finite supply of 21 mln which is expected to be reached by the year 2140. Nakamoto's one mln Bitcoins amount to five percent of the entire cryptocurrency. "The thing about Bitcoin is if you control a million of them , you have the ability to flood the market at any point. Think of them as rare baseball cards. They're valuable because they're rare. If somebody could dump hundreds or thousands of Mickey Mantle trading cards, rare ones, onto the market, they wouldn't be worth so much anymore," said Green . Nakamoto has really gone undercover since he decided to pull away from his creation, and for a man with such high value, his influence has not even been noted among the pseudo-anonymous Bitcoin network. However, if Nakamoto were to put his coins up for sale, the entire market would be flooded, and the Bitcoin price would tank. While Nakamoto remains a sleeping giant and a potential dormant volcano, he is no threat or promise to the Bitcoin Networ Continue reading >>
How Dangerous Is Satoshi Nakamoto?
Satoshi Nakamoto, the mysterious creator of bitcoin, has a lot of coins that remain unspent. What is he or she likely to do with them, and how might it affect the bitcoin universe? This article was inspired by a CoinDesk commenter, who worried that we don't know much about Satoshi's intentions. "That hoard gives him way, way, way too much potential influence and wealth," they said. Satoshi certainly has a lot of funds. Bitcoin security consultant Sergio Lerner's oft-cited analysis puts the figure at around 1m BTC, based on the early mining that he or she did. Most of those coins were unspent, the exceptions being some test transactions during the first ten days after Satoshi mined the genesis block (the first block on the blockchain). That puts Satoshi's personal fortune at around $383m at the time of writing, based on CoinDesk's index of bitcoin prices, the BPI . But how many yachts Satoshi could buy is less important than how much of bitcoin's inventory he or she owns. Today, there are around 13.5m bitcoins in existence. Satoshi owns 7.5% of the entire bitcoin inventory: one thirteenth of a digital currency with a $4.9b market capitalisation at press time. And that's not counting the rapidly growing digital economy that sits atop it. All of this makes people like Jeremy Glaros nervous. Glaros runs CoinArch , a bitcoin hedging system designed to pay interest on bitcoin investments. "Concentrating control of a market in a few hands is not generally good for integrity, fairness or transparency," said Glaros, citing Silver Thursday as an example. In that 1980 event, two billionaire brothers tried to corner the market in silver, sending prices soaring and subsequently plummeting after the US government stepped in to regulate. With such a huge holding, could Satoshi exact Continue reading >>
If Bitcoin Creator Satoshi Nakamoto Sold 1 Million Btc What Would Happen
If Bitcoin Creator Satoshi Nakamoto Sold 1 Million BTC What Would Happen If Bitcoin Creator Satoshi Nakamoto Sold 1 Million BTC What Would Happen Satoshi Nakamoto, who is Bitcoins creator, is said to hold a substantial sum of Bitcoin, far beyond what is typically safe for a distributed currency to carry. Although its an unlikely case, there is always the possibility that if Nakamoto had the inkling, he could flood the market with a million coins and ruin its value. Among the biggest mysteries in the technology world is the individuality of Satoshi Nakamoto. Nobody knows who he is, where he is or what he's doing with his millions. That is millions, as in countless Bitcoins since it has been reasonably estimated that Nakamoto could own over one million Bitcoin. Bitcoin includes a finite supply of 21,000,000 which is expected to be obtained in the year 2140. Nakamoto's 1,000,000 Bitcoins amount to five percent of the whole cryptocurrency. Identity And Disappearance Of Satoshi Nakamoto Nakamoto has really gone undercover since he decided to pull away from his creation, and to get a man with such high value, his influence hasn't gone unnoticed among the pseudo-anonymous Bitcoin network . But if Nakamoto had been to place up his coins for sale, then the whole market could be flooded, and the Bitcoin market would tank . Ben Yu, a Bitcoin investor residing in San Francisco, says Nakamoto's stake in Bitcoin is extremely significant. If Bitcoin fulfills its role of becoming a worldwide means of trade, then Satoshi Nakamoto will likely be the wealthiest person in the world and also hold a proportionately greater share of the best source of Bitcoin than something like the US government holds in gold now, stated Yu. Yu's math works out. The US government holds the most gold reserve Continue reading >>
Bitcoin Price Approaches $20,000, Making Satoshi Nakamoto Worth $19.4 Billion Quartz
Bitcoin was a whisker away from hitting $20,000 over the weekend, hitting a high of $19,771 yesterday, according to the CoinDesk price index. At that price, bitcoins anonymous creator, Satoshi Nakamoto, would have been worth $19.4 billion, or the 44th richest person in the world, according to the Forbes rich list . Satoshi Nakamotos net worth would be derived from the 980,000 bitcoins he, she, or they are estimated to own . These coins are likely to have been obtained from mining the nine-year-old cryptocurrency early on. The funds have stayed untouched for years. Bitcoins inventor would be behind Swedish clothing brand scion Stefan Persson (son of H&M founder Erling Persson), Apple founder Steve Jobs widow Laurene Powell Jobs , and Microsoft co-founder Paul Allen . Trailing Nakamoto are billionaire Saudi investor Prince Alwaleed bin Talal (who called bitcoin Enron in the making ) and Theo Albrecht, Jr ., an heir to the German discount retailing empire Aldi. Continue reading >>
Satoshi Nakamoto Owns $700 Million In Bitcoin - Business Insider
The digital currency is on a powerful upward trajectory , jumping in value by well over 30% in the space of a month. On Monday, the price peaked at $719 far, far above the $200-mark it was languishing at in August 2015. (As of writing, it sits a little below this week's high, at $690. This bullish period which comes shortly before the supply of new bitcoin is due to be halved due to a programmed rule is making a lot of bitcoin-owners very happy, with the value of their holdings increasing by significant double-figures percentage-points. The value of the digital currency hasn't been this high since February 2014, when it was trending downwards from all-time highs of around $1,100. (All data comes via CoinDesk's price analysis tool .) But few people are likely to be profiting more (on paper, at least) from the price spike than Satoshi Nakamoto, the mysterious creator of bitcoin whoever Satoshi is. Nakamoto disappeared from the scene years ago, back when the digital currency was still in its infancy, and his or her (or their) identity has never been ascertained. Theories abound, from the relatively credible ( Nick Szabo, a veteran developer in the digital currency space ) to the totally outlandish (Dorian Satoshi Nakamoto, a Japanese-American collector of model trains). But consensus about Satoshi's true identity has never been reached, and there's no indication Satishi will ever come forward to solve the mystery. The price of bitcoin from its inception to date.CoinDesk But if Satoshi were to come forward, what would happen? For starters, they would have an awful lot of bitcoin to play with. Bitcoin is anonymous, meaning you don't know who holds which bitcoin but you can track the path of every bitcoin through the network, via a public ledger called the blockchain. Satosh Continue reading >>
How Many Bitcoins Does The Creator Of Bitcoin Satoshi Nakamoto Have?
How many Bitcoins does the creator of Bitcoin Satoshi Nakamoto have? The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator, Visionary and Genius The graphs were made by a new block chain analysis technique I tested that consist on tracking the ExtraNonce fields in the coinbase field of the coinbase transaction, which is the one that creates bitcoins. As far as I know, is hasnt been done before. In the following graphs each dot is the creation of 50 BTC. I have only analyzed and printed graphs from block 0 upto block 36288. I wonder what will I get when I process the remaining three years. The extraNonce fields increments every time the nonce fields (which is 32 bits) overflows, so its a slow realtime clock, until the application is restarted, in which case it goes back to 1. Is this answer still relevant and up to date? You aren't the first person to wonder this, and nobody really knows, but I'll try to at least give you a range. During the time Satoshi was almost certainly mining, approximately 1.5 million bitcoins were mined (source: Page on Bitcointalk ). I would be very surprised if less than 10% of those coins were mined by Satoshi, so I'd put the lower limit at around 150k bitcoins. If Satoshi was heavily involved in mining, and graduated to GPUs once it became possible to use them, he could easily have more than 1M bitcoins. For an upper limit, I personally doubt he has more than 3M bitcoins, as it would be very difficult for one person to capture than many in the competitive environment of mining, even starting from day 1. The only exception would be if he also had huge amounts of money to invest in mining from the start and never sold any coins, but I haven't seen anything to make be believe that is the case. Continue reading >>
How Many Bitcoins Did Satoshi Nakamoto Mine?
How Many Bitcoins Did Satoshi Nakamoto Mine? Since the early days of Bitcoin, there has been a debate about how much Bitcoinwas mined by Satoshi Nakamoto. The question is mostly interesting for its ownsake: by all appearances, Satoshi Nakamoto either no longer has the private keysto these early coins, or at the very least is uninterested in spending them.Still, its an interesting question: in a parallel universe where Satoshireappears out of the void, how much Bitcoin would be in Satoshis wallet? There have been a number of other attempts to estimate Satoshis holdingsbefore. For those interested, I would especially recommend this Quoraanswer ,which uses a more complex (and probably more accurate) method of estimatingwhich coins were mined by Satoshi. However, you dont actually needsophisticated techniques to understand the evidence available. Im going to makea simpler analysis that primarily looks at the estimated hash rate of theBitcoin network in 2009. The total hash rate of the Bitcoin network can be estimated from fields that areincluded in Bitcoin blocks. Every block mined has a special blockheader which containsthe most important metadata about the block. Block headers are 80 bytes, andinclude the following data: For this analysis, we will be looking at two of the fields in the block header:the timestamp and the difficulty target. The difficulty target is a number that encodes the minimum block difficulty.There is a simple formula thattranslates the 32-bit difficulty field in the block header into a 256-bitdifficulty target. The difficulty target is used to tell if a block hash meetsthe criteria to be accepted as a new block: if the 256-bit block hash isnumerically less than the 256-bit difficulty target, then the block meetsBitcoins proof-of-work requirement. Th Continue reading >>