Satoshi Nakamoto is the inventor of Bitcoin, but not much is known about him. Nor is it certain that it is one person, because a collective would also be conceivable. The estimated wealth of one of the first Bitcoin entities, which is presumably the inventor, is between 600,000 and 700,000 BTC.
Satoshi Nakamoto: These clues exist
Satoshi Nakamoto is the inventor of the cryptocurrency Bitcoin. However, his name is only a pseudonym. Nobody knows him, only a few people claim to know who he is.
- When Satoshi Nakamoto first appeared in the P2P Foundation chat forum in 2008, he introduced himself as a Japanese man with the date of birth 5 April 1975. The profile picture was just an unknown shadow outline.
- His email account was hacked but his identity was never. Other details include his perfect English with British spelling and a dismissive attitude towards the existing monetary system. With his Bitcoin system, he wanted to give people a way to be more independent.
- After the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” published in 2008 and the creation of the Bitcoin blockchain in 2009, he was still in active contact with other developers until 2011. However, he has not been heard from since 2011 and his Bitcoin assets have not been touched.
Satoshi, the smallest unit of bitcoin
Between 3 January 2009 and 25 January 2010, 1,814,400 BTC were mined, attributed to a single entity believed to be Satoshi Nakamoto. Meanwhile, the estimated wealth is between 600,000 and 700,000 BTC.
- The smallest existing unit of Bitcoin is also named after its inventor – Satoshi. 100 million Satoshi are one Bitcoin. However, this value is only used when processing Bitcoin transactions, as this representation is particularly precise.
- One Bitcoin is worth €3,474.80, from which it follows that €1 is currently equivalent to 0.00028779 BTC. Multiplying the BTC value by 100 million gives the Satoshi sum. For one euro, this is 28,779 satoshi. 1,000 satoshi is equivalent to 23 cents.
- Satoshi can be earned through Bitcoin mining, i.e. by providing computing power. Because here you are rewarded with shares of BTC, i.e. Satoshi cloud mining is usually more profitable. There is also the possibility of Bitcoin trading, where you can also earn Satoshi.