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When Was The Bitcoin Invented?

Satoshi Nakamoto - Wikipedia

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 . [1] As part of the implementation, they also devised the first blockchain database. [2] 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. [3] 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. [4] In October 2008, Nakamoto published a paper [5] [6] on the cryptography mailing list at metzdowd.com [7] 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. [8] [9] 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. [10] 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 . [11] Nakamoto created a website with the domain name Bitcoin.org and continued to collaborate with other developers on the Bitcoin software unti Continue reading >>

Elon Musk: I Am Not Bitcoin Inventor Satoshi Nakamoto

Elon Musk: I Am Not Bitcoin Inventor Satoshi Nakamoto

Elon Musk: I Am Not Bitcoin Inventor Satoshi Nakamoto The debate on the identity of Satoshi Nakamoto promises to be a never-ending one, but Elon Musk says it isnt him. The debate on the identity of Satoshi Nakamoto promises to be a never-ending one. After a former SpaceX intern blogged that Elon Musk is probably Satoshi, Musk clarified that he is in fact not the creator of Bitcoin. People have speculated about Satoshi's origins ever since Bitcoin was invented. The trigger to get the rumour mills rolling this time was a blog post by Sahil Gupta, former intern at SpaceX, who blogged that Elon Musk was probably Satoshi Nakamoto . Sahil uses Elon Musk's background in Economics, experience in production level software and history of innovation to speculate that Elon Musk 'probably' invented Bitcoin. Given the divisive nature of the blocksize debate in the Bitcoin community, Sahil sought Elon's (or Satoshi's) intervention and asks him to play the role of a founding father (similar to Vitalik Buterin in Ethereum). Elon Musk, has however, denied that he was Satoshi Nakamoto and going on to add that he had lost the Bitcoins which were sent to him a few years back. Not true. A friend sent me part of a BTC a few years, but I dont know where it is. Elon Musk (@elonmusk) November 28, 2017 There has been chatter on social media in the past about whether Elon Musk could be Satoshi, but nothing ever came of the talk. Musks earlier stated views on Bitcoin were not flattering. In an earlier interview, Elon Musk had said : "I guess it is primarily going to be a means of doing illegal transactions. That is not necessarily entirely bad. Maybe some things shouldn't be illegal.... You should have a legal to illegal bridge." Previous hunts for Satoshi Nakamoto have not ended well. Craig Wrigh Continue reading >>

Elon Musk Probably Inventedbitcoin

Elon Musk Probably Inventedbitcoin

Walter Isaacson asks Elon Musk about Bitcoin Link 1. Satoshi Nakamoto is probably ElonMusk 3. Bitcoin could be more useful with Elonsguidance Is Elon capable of inventing Bitcoin? Probably. The 2008 Bitcoin paper was written by someone with a deep understanding of economics and cryptography. Elon has a background in econ and wrote production-level internet software for Zip2 and X.com / Paypal. Bitcoins source code was written by someone with a mastery of C++ . Elon seems to have a firm grasp of C++, insisting it be used at X.com and at SpaceX . Experience aside, Elon is a self-taught polymath. Hes repeatedly innovated across fields by reading books on a subject and applying the knowledge. Its how he built rockets , invented the Hyperloop (which he released to the world as a paper ), and could have invented Bitcoin. Would he have wanted to create it? Probably. It was 2008 (Great Recession), and he may have been motivated to solve the lack of trust in banks by creating a currency that doesnt need them. Does the original Bitcoin paper sound like Elon? Somewhat. The hallmark reasoning from first principles. The order-of-magnitude calculations. And in forum posts, casual use of bloody hard. Would Elon have stayed anonymous for 10 years? Probably, on principle. Satoshi created Bitcoin as a peer-to-peer currency that wouldnt need a central authority. Did Elon reveal his identity in 2014 with this tweet ? Maybe. The tweet came one week after this Satoshi forum post . Can Elon not own any bitcoin and still be Satoshi? Yes. Elon has said publicly he doesnt own any bitcoin, which is consistent with a Good Satoshi who deleted his private keys. This means Satoshis one million coins (worth about $8 billion) are gone for good. Could Satoshi be a group of people led by Elon? Probably Continue reading >>

A Short History Of Bitcoin And Crypto Currency Everyone Should Read

A Short History Of Bitcoin And Crypto Currency Everyone Should Read

A Short History Of Bitcoin And Crypto Currency Everyone Should Read {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. Subscribe Bitcoin hit news headlines this week as the price of one unit of the cryptocurrency passed $11,500 for the first time. Although it’s often referred to as new, Bitcoin has existed since 2009 and the technology it is built on has roots going back even further. In fact if you had invested just $1,000 in Bitcoin the year it was first publicly available, you would now be richer to the tune of £36.7 million . Those who don’t learn from history are doomed to repeat its mistakes – so here is a brief history of Bitcoin and cryptocurrency. Although Bitcoin was the first established cryptocurrency , there had been previous attempts at creating online currencies with ledgers secured by encryption. Two examples of these were B-Money and Bit Gold, which were formulated but never fully developed. A paper called Bitcoin – A Peer to Peer Electronic Cash System was posted to a mailing list discussion on cryptography. It was posted by someone calling themselves Satoshi Nakamoto, whose real identity remains a mystery to this day. The Bitcoin software is made available to the public for the first time and mining – the process through which new Bitcoins are created and transactions are recorded and verified on the blockchain – begins. 2010 – Bitcoin is valued for the first time As it had never been traded, only mined, it was impossible to assign a monetary value to the units of the emerging cryptocurrency. Continue reading >>

Who Created Bitcoin? Satoshi Nakamoto Mystery Lives On

Who Created Bitcoin? Satoshi Nakamoto Mystery Lives On

The hunt for the Creator of Bitcoin The $370 billion mystery of bitcoin inventorSource:Getty Images WHEN bitcoin hit its most recent all-time-high in value at the beginning of the week, its inventor broke into the list of the worlds 50 richest people. But unlike the others to crack the glamorous club, we have no idea who he, she, or possibly they are. What we do know, thanks to the blockchain ledger that records all transactions on the network, the creator of bitcoin is thought to still hold 980,000 coins, which at the time of writing are worth about $A21.3 billion. The inventor of the so-called currency goes by the mysterious pseudonym Satoshi Nakamoto and whoever he or she is, they have managed to amass an eye-watering amount of wealth in the short space of a decade assuming of course the digital tokens remain at their current level of value. But the person who has lured close to $370 billion (roughly bitcoins current market cap) to their creation has remarkably remained anonymous. Nakamotos identity has been the subject of widespread speculation since 2008 when the mysterious figure published the white paper that outlined bitcoins revolutionary technology. Since then a number of people have been suspected of being behind it. Desperate sleuths have even pointed the finger at Tesla CEO Elon Musk as the man responsible. The now iconic white paper, which was published on P2P Foundation, said the elusive Nakamoto lived in Japan and was born in 1975. In March 2014, the worlds media thought they had found him claiming he was a computer engineer living in Temple City in Los Angeles County. The Japanese-American man, named Dorian Satoshi Nakamoto, quickly found himself at the centre of a media frenzy as photographers and journalists camped out on his front lawn. Trained as a Continue reading >>

Who Invented Bitcoin And Who Is Mysterious Founder, Satoshi Nakamoto?

Who Invented Bitcoin And Who Is Mysterious Founder, Satoshi Nakamoto?

Who invented Bitcoin and who is mysterious founder, Satoshi Nakamoto? Who is the person in charge of Bitcoin? (Picture: Getty Images) Avinash Bhunjun for metro.co.uk Thursday 30 Nov 2017 7:40 am There has long been a mystery behind the owner of Bitcoin. Satoshi Nakamoto is the alias of the shadowy creator of the virtual coins, but there has been a long-running debate about who that person actually is. What's in the tax reform bill and when will it take effect? Bitcoin is a decentralised digitalcurrency, meaning neither does it exist in the physical world, nor does it have a central bank such as the Federal Reserve. Not true. A friend sent me part of a BTC a few years, but I dont know where it is. Elon Musk (@elonmusk) November 28, 2017 The value of Bitcoin has soared in recent months, reaching the$10,000 mark on Tuesday. Bitcoins value has increased exponentially this year and has jumped by 20 per cent in the last three days alone. There are also a finite number of bitcoins in the world,according to Bitcoin.org. Dr Craig Wright claimed to be the inventor of Bitcoin (Picture: PA Wire) Only21 million bitcoins exist but this is not seen as a limitation because bitcoins can be broken down into smaller sub-units of bits with1,000,000 bits in 1 bitcoin. Bitcoins can be divided up to 8 decimal places (0.000 000 01) and potentially even smaller units. The Bitcoin whitepaper was made open to the public under the pseudonym of Satoshi Nakamoto. Tesla chief, Elon Musk denied being Satoshi Nakamoto after responded to a blog post circulating on several crypto-currency sites that he was the owner. There have been several people claiming to be Nakamoto. Journalists surround Dorian Prentice Satoshi Nakamoto in 2014 (Picture: Getty Images) In December 2013, a blogger named Skye Grey lin Continue reading >>

Everything You Need To Know About Bitcoin, Its Mysterious Origins, And The Many Alleged Identities Of Its Creator

Everything You Need To Know About Bitcoin, Its Mysterious Origins, And The Many Alleged Identities Of Its Creator

On January 3, 2009, 30,000 lines of code spell out the beginning of Bitcoin. A copy of bitcoin standing on PC motherboard is seen in this illustration picture Bitcoin runs through an autonomous software program that is 'mined' by people seeking bitcoin in a lottery-based system. Over the course of the next 20 years, a total of 21 million coins will be released. But Satoshi Nakamoto didn't work entirely alone. Among Bitcoin's earliest enthusiasts was Hal Finney, a console game developer and an early member of the "cypherpunk movement" who discovered Nakamoto's proposal for Bitcoin through the cryptocurrency mailing list.  In a blog post from 2013, Finney says he was fascinated by the idea of a decentralized online currency. When Nakamoto announced the software's release, Finney offered to mine the first coins — 10 original bitcoins from block 70, which Satoshi sent over as a test. Of his interactions with Nakamoto, Finney says, "I thought I was dealing with a young man of Japanese ancestry who was very smart and sincere. I've had the good fortune to know many brilliant people over the course of my life, so I recognize the signs." Finney has flatly denied any claims that he was the inventor of Bitcoin and has always maintained his involvement in the currency was only ever secondary.  In 2014, Finney died of the neuro-degenerative disease ALS. In one of his final posts on a Bitcoin forum , he said Satoshi Nakamoto's true identity still remained a mystery to him. Finney says he was proud of his legacy involving Bitcoin, and that his cache of bitcoins were stored in an offline wallet, left as part of an inheritance to his family.  "Hopefully, they'll be worth something to my heirs," he wrote. As of today, one bitcoin is worth more than $10,000.   Nearly a year lat Continue reading >>

Bitcoin Inventor Satoshi Nakamoto Finally Revealed

Bitcoin Inventor Satoshi Nakamoto Finally Revealed

Australian entrepreneur Craig Wright says he's the inventor of the digital currency bitcoin . Wright told the BBC that he is Satoshi Nakamoto, the shadowy creator of the cryptocurrency, in a move that could end the years-long search for the inventor. In a follow-up blog post on Monday, Wright thanked everyone who helped out in bitcoin's beginnings. "I have been staring at my screen for hours, but I cannot summon the words to express the depth of my gratitude to those that have supported the bitcoin project from its inception too many names to list. You have dedicated vast swathes of your time, committed your gifts, sacrificed relationships and REM sleep for years to an open source project that could have come to nothing. And yet still you fought. This incredible community's passion and intellect and perseverance has taken my small contribution and nurtured it, enhanced it, breathed life into it. You have given the world a great gift. Thank you," Wright wrote. "Be assured, just as you have worked, I have not been idle during these many years. Since those early days, after distancing myself from the public persona that was Satoshi, I have poured every measure of myself into research. I have been silent, but I have not been absent. I have been engaged with an exceptional group and look forward to sharing our remarkable work when they are ready." To prove his claim, Wright digitally signed a message using the cryptographic keys that were associated with the creator and was backed up by experts. "These are the blocks used to send 10 bitcoins to Hal Finney in January [2009] as the first bitcoin transaction," Wright told the BBC. Wright said Finney helped turn his vision of bitcoin into reality. Jon Matonis, co-founder of the nonprofit Bitcoin Foundation, said he believed Wri Continue reading >>

Bitcoin Price Ranks Satoshi Nakamoto On Richest People List | Money

Bitcoin Price Ranks Satoshi Nakamoto On Richest People List | Money

For a moment on Sunday, Bitcoins mysterious, anonymous founder was the 44th richest person in the world. The faceless Satoshi Nakamoto enjoyed his or her fortune Sunday as Bitcoin hit a record high of $19,771, according to CoinDesks price index. That record would have made Nakamotos net worth a staggering $19.4 billion enough to reach the 44th spot on Forbess list , according to Quartz . That amount comes from the mysterious founders 980,000 Bitcoins he or she has acquired since the cryptocurrencys launch in 2009. With that ranking Sunday, Nakamoto sat just behind Microsoft co-founder Paul Allen and right above Theo Albrecht, Jr., of Aldi and Trader Joes fortune. Whomever he or she is, Nakamoto no longer sits on that 44th spot, as Bitcoins value fell slightly in recent days. At the time of publication Tuesday, Bitcoin was valued at $18,095.22, according to CoinDesk . That means Nakamotos net worth was closer to $17.3 billion, ranking him or her closer to the 52nd or 53rd spot. Nonetheless, Nakamoto is certainly benefiting from Bitcoins meteoric rise this year as the cryptocurrency passes record after record in recent months. Bitcoins value is now 20 times higher than it was at the start of 2017, and on Monday, Bitcoin futures contracts started trading on the Chicago Mercantile Exchange, the worlds largest. Investors like the Winklevoss twins best known for their complicated history with Facebook CEO Mark Zuckerberg have invested enough in the cryptocurrency to become Bitcoin billionaires. Continue reading >>

Who Is Satoshi Nakamoto? Bitcoin Creator Whose Identity Is Unknown But Could Be One Of The Richest People In The World

Who Is Satoshi Nakamoto? Bitcoin Creator Whose Identity Is Unknown But Could Be One Of The Richest People In The World

Who is Satoshi Nakamoto? Bitcoin creator whose identity is unknown but could be one of the richest people in the world The author of a white paper about thecryptocurrency in 2008 is widely believed to be the shadowy person behind Bitcoin THE inventor of Bitcoin remains a mystery as the volatile digital currency continues to enjoy wild fluctuations in value. But while the identity of the fabled Satoshi Nakamoto -the author of a 2008 white paper describing the cryptocurrency - remains unconfirmed, the search to unmask him has a very colourful history indeed. Bitcoin has taken the financial world by storm, but who is the creator of the cryptocurrency? The mystery will take us from the Land of the Rising Sun all the way across the world to a small Californian town named Temple City and then back across the Pacific Ocean to an Australian doctor. The now iconic white paper, which was published on networkingP2P Foundation, said the elusive Nakamoto lived in Japan and was born in 1975. But when the world's media thought they had found theirSatoshi Nakamoto in 2014 - he was a computer engineer living in Temple City in Los Angeles County. And while the Japanese-American man, named Dorian Satoshi Nakamoto, firmly denied he was the shadowy force behind the infamous cryptocurrency - the plot continued to thicken. It soon emerged thatcomputer scientist Hal Finney, who was the recipient of the first Bitcoin transaction, lived a "few blocks" from the seemingly-obliviousNakamoto. Dorian Satoshi Nakamoto, pictured surrounded by reporters outside his home in Temple City, California, in May 2014 Forbes journalist Andy Greenberg attempted to interview Finney at his home - despite him battling terminal disease Amyotrophic Lateral Sclerosis (ALS), which rendered thecrypto-community enthusias Continue reading >>

What Is Bitcoin? - Cnnmoney

What Is Bitcoin? - Cnnmoney

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures. Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value. Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange. People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally. People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 25 bitcoins roughly every 10 minutes. Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC. Wallet in cloud: Servers have been hacked. Companies have fled with clients’ Bitcoins. Wallet on computer: You can accidentally delete them. Viruses could destroy them. Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed – only their wallet IDs. While that keeps bitcoin users’ transactions Continue reading >>

The Person Who Created Bitcoin Remains Amystery

The Person Who Created Bitcoin Remains Amystery

Miami penthouse on sale for 33 bitcoin cash not accepted Bitcoin was created by Satoshi Nakamoto from Japan. Or, some say, he or she might be a Finnish sociologist or a mathematician from Israel. Some think Nakamoto is the pseudonym of software developer Gavin Andresen, others believe its Tesla creator Elon Musk. (Both have denied the claim.) Whoever it is, the person behind bitcoin has never given an interview. In 2008, Nakamoto published online an open-source paper, introducing a new form of digital currency: designed to be used without the need for a central bank. As offered up by Nakamotos code, new bitcoins are created by solving complex calculations, embedded throughout the Internet, via extremely powerful computers. People who do this are known as miners. The number of bitcoins in circulation will top out after a finite 21 million are mined unlike traditional currency, which can be endlessly minted. Aswath Damodaran, professor of finance at New York University, said, [Nakamotos] on his way to being a billionaire now. He kept more than 10,000 bitcoins. And hes not surprised by the creators low profile: Bitcoin was designed by paranoid geeks for paranoid geeks. Continue reading >>

Whoever Created Bitcoin Is Now Among The Worlds 50 Richest People

Whoever Created Bitcoin Is Now Among The Worlds 50 Richest People

Whoever created Bitcoin is now among the worlds 50 richest people When it reached a high of $19,771 yesterday, Bitcoin made the creator of the cryptocurrency the 44th richest person on the planet if you go by Forbes list , noted Quartz . The problem? Even after eight years since it was launched, we still dont know who that is. Over the past few years, many people have been suspected to be the inventor, who goes by the pseudonym Satoshi Nakamoto. The list includes cryptography student Michael Clear, Finnish game developer Vili Lehdonvirta, and even a trio identified by Fast Company. The closest the world might have got to unmasking Nakamoto was back in December 2015, when businessman Craig Steven Wrights home was raided by Australian police in Sydney over his taxes. Wright was identified by Wired and Gizmodo by numerous emails, blog posts and leaked transcripts of legal interviews. Wright didnt confirm it at the time, but later claimed to indeed be the Nakamoto the world was looking for. He subsequently failed to prove he was the creator of Bitcoin, as he was unable to cryptographically sign the first block of data generated while growing the cryptocurrency something the real Satoshi wouldve been able to do. Once again, were back to square one in the search for the real inventor of Bitcoin. Whoever they are, Quartz notes that with their estimated fortune of 980,000 BTC, theyd be worth $19.4 billion, and rank above billionaire Saudi investor Prince Alwaleed bin Talal, and below Apple co-founder Steve Jobs widow Laurene Powell Jobs. Of course, with Bitcoin being as volatile as it is, the currencys value has now dropped to $18,981 at the time of writing bringing Satoshis net worth down to $18.6 billion. Thats still a pretty penny, and it keeps them on the top 50 list, just Continue reading >>

Elon Musk Is Now Linked To The Mystery Of Who Invented Bitcoin

Elon Musk Is Now Linked To The Mystery Of Who Invented Bitcoin

Elon Musk Is Now Linked to the Mystery of Who Invented Bitcoin Bitcoin has taken investors for a ride in 2017, its price rising astronomically from less than a $1000 per coin earlier in the year to peaking at $20,000 by its end. It has its share of detractors and a recent price drop of 27% of its value underscores the unknowns and the volatility inherenttothis 21-st century currency. Regardless, one person who probably benefited tremendously from the cryptocurrency's booming popularity is its inventor, becoming the world's 44th richest person on account of owning around a million bitcoins. The only problem is, we dont know who that person is, or if they even exist at all. The mystery surrounding the creation of Bitcoin is one of its unique characteristics. In 2008, someone named Satoshi Nakamoto published a paper online titled Bitcoin: A Peer-to-Peer Electronic Cash System. The paper, posted to a cryptography mailing list, described how the digital currency would work. In 2009, Nakamoto released software for the currency, which utilized the concept of a blockchain as its core design component. The invention of the blockchain is an influential achievement in its own right as this technology, that uses a distributed ledger to record transactions between two parties in a verifiable and permanent way, has been adopted by other cryptocurrencies and is now even powering governments. A man looks at ATM machines (L and R) for digital currency Bitcoin in Hong Kong on December 18, 2017. (Photo credit: ANTHONY WALLACE/AFP/Getty Images) While he was so instrumental to the existence of bitcoin, also creating bitcoin.org in 2010, who Satoshi Nakamoto really was never became clear as all communication with him was online. In his profile, he claimed to be a Japanese man born in 1975, Continue reading >>

The History Of Bitcoin & How Bitcoin Is Used | Genesis Mining

The History Of Bitcoin & How Bitcoin Is Used | Genesis Mining

Finance, like most human inventions, is constantly evolving. In the beginning it was basic: food was traded for livestock, and livestock for resources like wood, or maize. It progressed to precious metal, such as silver and gold. And now, the next step in financial evolution has come to light. This new form of currency has been constantly evolving over the past decade, developed by an unknown person and maintained by a collective group of the brightest minds in technology. It’s a new form of money that is created and held digitally, and the most important part, of course, is that no government owns it, or decides its value - the peer-to-peer network community does. Historically, U.S. currency has been based on gold - you could give a dollar to the bank and receive a set amount back in gold. In contrast, Bitcoin isn’t based on silver or gold - it’s based on mathematical proofs validated by a public ledger called blockchain technology. Bitcoin is generated through a complex sequence of mathematical formulas that run on computers; the network shares a public ledger using blockchain technologies that record, and validate, every transaction processed. A single institution, such as the government, does not control the Bitcoin network. The idea behind the technology has always been - and remains - one of decentralization - that is, remaining completely independent of a central authority, like a bank, a government, or a country. Anyone can access the open-source software that makes Bitcoin work, and its those individuals interested that maintain it. But, who invented Bitcoin? Is it a valid and legitimate currency like USD? And why did nobody think of this before? But before we begin, let’s talk about the creator of Bitcoin - or rather, the anonymous pseudonym that firs Continue reading >>

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