Home » Satoshi Nakamoto: Interesting Facts You Need To Know

Satoshi Nakamoto: Interesting Facts You Need To Know

Satoshi Nakamoto is the pseudonym of the creator of Bitcoin, the appearance of which caused a real world revolution in finance. Many people have tried to solve the mystery of Satoshi’s personality, including the world's leading media — and all in vain.
be-in-the-loop - Satoshi Nakamoto: Interesting Facts You Need To Know

Satoshi Nakamoto is the pseudonym of the creator of Bitcoin, the appearance of which caused a real world revolution in finance. Many people have tried to solve the mystery of Satoshi’s personality, including the world’s leading media — and all in vain. Here are 9 key facts that every crypto enthusiast should know about him.

Satoshi disappearance

Bitcoin was first described in a nine-page article. And a few months after its publication there was a team scattered around the world devoted to Satoshi Nakamoto that helped him develop the Bitcoin network software. This continued until 2011, when he suddenly disappeared without saying a word to anyone.

be-in-the-loop - Satoshi Nakamoto: Interesting Facts You Need To Know

Pseudonym

On November 1, 2008, a letter describing the concept of bitcoin was sent to the cryptographic mailing list. It was also sent to many leading cryptography experts known for their interest in decentralized solutions. The letter was signed by Satoshi Nakamoto. At first, it seemed that a person with that name should be Japanese, but the description of Bitcoin was written in perfect English, which makes one doubt it.

Collective pseudonym

Many experts believe that Satoshi is a collective pseudonym. Even Laszlo Chanec (Bitcoin developer) once said: “Bitcoin is too well thought out to be created by one person.”

There is a comic assumption that Satoshi Nakamoto is a group of four Asian hi-tech companies: Samsung, Toshiba, Nakamichi and Motorola: “sa” from Samsung, “toshi” from Toshiba, “naka” from Nakamichi and “moto” from Motorola.

Personal fortune

Although Satoshi Nakamoto disappeared without a trace in 2011, about a million bitcoins is known to be stored on his account. It is known that Satoshi spent only about 500 bitcoins – this is only 0.0005% of the total. And many believe that if he decided to spend all the coins at once, it would provoke a massive sale and destabilize the entire cryptoeconomy.

Nobel Prize Nomination

In 2015, Satoshi Nakamoto was nominated for the Nobel Prize in Economic Science by Bhagwan Chowdry, a professor of finance from Los Angeles.

Only Digital Communication

Satoshi is believed to have never talked to any of the Bitcoin network users by phone or in person, preferring email and forums. Today, many sites published his correspondence with other developers

Business Insider's Person of the Year

In 2013, Business Insider named Satoshi Nakamoto the winner in the “Most Impressive Person of the Year” nomination.

He May Be Dead

There is a version that Satoshi Nakamoto is Hal Finney, the person who first received the transfer in bitcoins. But Finney died in 2014 from amyotrophic lateral sclerosis, and possibly took the secret with him to the grave.

NSA identifies Satosi Nakamodo

The US National Security Agency used the method of stylometry, that is, stylistic analysis of the text, to compare Satoshi’s messages with sample texts belonging to billions of people from around the world. First, they found in Satoshi Nakamoto’s letters the 50 most frequently used words, then they broke the text into 5,000 fragments and calculated the frequency with which these words occured in these passages – as a result, a unique 50-digit identifier was calculated for each fragment. Then, the experts placed each of these numbers in a 50-dimensional space and projected onto the plane using the principal component method. The result was a “digital footprint” of Satoshi’s texts, which can be compared with any other written source.

Using specially written software and huge computing resources, NSA analysts were able to identify Satoshi — for this they had to create “digital prints” of trillions of works by more than a billion authors. The work took less than a month and was successful. 

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