, 3 years ago
The answer to this question is considered one of the biggest secrets in mankind’s history. Who is the mysterious inventor of Bitcoin and why has he gone dark right after his invention came to fruition?
Bitcoins invention was no accident rather than what followed after a long period of research carried out by different mathematicians, software developers and hackers. Many other people thought about the idea of how to invent a new form of cash.
One notable invention was “bit gold” by Nick Szabo in the year 1998. It was never implemented but was able to address the so-called double-spending problem. One year before Szabo's invention there was another development starting that played an even more significant role for Bitcoin.
With “Hashcash” Adam Back developed a proof-of-work system to prevent email spam. The proposal was made in 1997 and was refined later in 2002. The proof of work algorithm later became the model that was used by Bitcoin.
These are only two inventions that serve as a good example of what has to be set in motion years before Bitcoin was first mentioned in the famous whitepaper.
Needless to say, most people who are suspected to be Satoshi are involved with one or more of these inventions, their prior research and the discussions that took place before the birth of Bitcoin. While all of them denied or are deceased there are many theories that explain how and why one of these candidates could be Satoshi Nakamoto:
Aside from the question of who Satoshi really is, there is also a lot of concern about why he all of a sudden took off and was never heard of again. What we do know is that the person or the group behind the moniker was really concerned about his privacy and protected it very efficiently.
One explanation is that it had become clear to Satoshi at some point that Bitcoin would become bigger and bigger. The inventor had to evade any legal claims by governments or authorities who could have hurt his invention by targeting him.
Another explanation is that Satoshi is deceased and therefore no longer amongst us. This could be the case if it is was true that Dave Kleiman or Hal Finney were behind the invention.
Whoever he was and whatever happened to him. It is clear that he or she wrote history.
May 23, 2023
Bitcoin is the first cryptocurrency ever to be invented and it introduced the blockchain technology. It gave birth to a whole new area and this is the very reason why there are so many events in its past that are considered to be memorable or important.
Apr 27, 2023
Many economists see money as a human invention that followed barter. But according to anthropologist David Graeber, in his book Debt: The First 5,000 Years (2011), it is not the case that we first bartered eight chickens for a goat and then invented money. No, debt existed before it all. What does this tell us our financial system and about Bitcoin as an alternative?
Feb 10, 2023
As the original cryptocurrency, Bitcoin has the longest price history of them all. What do more than thirteen years of data tell us about the future price of Bitcoin? And what other indicators help us to predict Bitcoin's price? Let's look at some models and other considerations when we want to create a Bitcoin price expectation for the coming years.
Jan 18, 2023
On the surface, Nostr is much like a stripped-down version of Twitter. But just like Bitcoin works in fundamentally different ways from traditional money, under the hood Nostr works very different from conventional social media. In Nostr, YOU own your account. Also, Nostr lends itself to integration with wallet software and Bitcoin's Lightning network. Let's dive in and experiment.
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