What is the wealth of the inventor of Bitcoin? Where is she?

As mentioned earlier, in order for miners to earn block rewards, they have to verify the authenticity of Bitcoin transactions.

For example,

If I myself send 5 bitcoins to another person what is the way for that person to guarantee that I have not sent those same coins to a third party or many others since it's digital currency and just codes? Miners are the ones who do the job. They process the transactions and verify their authenticity Then, they piece them together in a block and include it to the blockchain. Herewith, their reward is recorded at the top of the block itself.

Here we come to the article's questions,

the first of which is:

1) who is the first miner of Bitcoin? Was he/she mining Bitcoin on his own?

2) How many blocks had he/she mined? How many bitcoins does he/she have?

3) Is he/she still mining or they stopped a long time ago?

I will answer these questions.

Assume that Satoshi Nakamoto, the inventor of Bitcoin, is one person, he was the first person to run a mining computer in January 2009 Thus, he had the ability to mine many blocks and extract a large number of bitcoins. No one at that time was interested in the subject because Bitcoin itself had no value at all. There weren't many miners back then. Therefore, mining was not as difficult as it is now. Only a few people were dedicating their home computers to mining Bitcoin and they were doing it out of exploration and curiosity because Bitcoin itself had no value. Satoshi Nakimoto himself used a regular computer with an average CPU unit to mine the first blocks back then. Now, it is quite complicated because of the difficulty of mining itself. This will be explained in detail later, God willing. As previously mentioned, Satoshi was given 50 bitcoins as a block reward for each block he mined. Every 10 minutes there is a new block that would come into existence and is included in the blockchain. Of course, with the exception of the second block, which is No. 1, wherein he took 6 days to mine as aforementioned.

A question arises: How is the No. 1 block the second one?

That is a really good question. Because in programming, numbers start from zero, so the formation block was number 0 and the second block number 1.

What is the wealth of the inventor of Bitcoin? Where is she?

So how many blocks did Satoshi mine?

In fact, no one knows for sure how many blocks because people are not known in the blockchain as explained before Just addresses such as email addresses are numbers and letters only, it is not possible to know their owners.

However, there are studies and investigations that traced the entity that made the formation block, which is of course Satoshi Nakamoto himself.

Among the controversial theories is the study of Sergio Demian Lerner, a researcher in the field of security and cryptocurrency, entitled:

“The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator, Visionary and Genius.” Lerner's study tracked blocks that were mined between January 1, 2009, and January 25, 2010 - blocks 1 through 36288 - to identify blocks that have been mined by the same entity When he did that, he found that there was one entity using one mining rig and mining thousands of blocks in this period. Lerner calls the pattern of blocks that are mined from the same individual entity the Patoshi Pattern, and it is assumed that this Patoshi is Satoshi Nakamoto because this pattern begins with the formation block. Lerner found that Bateushi mined nearly 22,000 blocks on his own and earned a total of 1,100,000 bitcoins as a block reward. Thus, this makes him the most productive miner in the history of Bitcoin and the most proprietary of its currencies. Recent research suggests that Satoshi could have mined more bitcoins afterward. But he stopped on purpose to give other miners a fair chance to mine so they too could get Bitcoin. This means that Satoshi was mining Bitcoin for the first few months of 2009, after which he stopped completely. Of course, the value of one million and one hundred thousand bitcoins in 2009 was almost zero. However, if we calculate the net wealth of Satoshi Nakamoto at the current price of bitcoin at the highest peak in the first half of 2022, which is about 47 thousand dollars. So, One million and one thousand bitcoins make a fortune exceeding 51 billion dollars, and this puts him on the list of the world's richest people in the Bloomberg Billionaires Index of the world. Although he owns a bitcoin worth more than 51 billion dollars, there is no ground evidence to date saying that Satoshi transferred, sold, or disposed of any number of these currencies. According to the pattern of Batoshi, the approximately one million bitcoins that Satoshi owns are still in their place since 2009. Any currencies ever created in the first months of 2009, if transferred from one wallet to another, would be monitored. This move, due to its importance, is considered to attract the attention of the entire financial Sector. They will then check whether these altcoins follow the patoshi pattern and therefore are for Satoshi himself or not. As happened on May 20, 2020, when 40 bitcoins were transferred from an inactive account its bitcoins were extracted on February 9, 2009 - in the first month of bitcoin's existence. The financial and technical circles with regard to digital currencies stood in full swing at that time.

What is the wealth of the inventor of Bitcoin? Where is she?

Is this the satoshi of those 40 bitcoins?

There are theories that say that this Bitcoin is being transferred from a wallet that is possibly attributed to Satoshi. Other theories disagree because it does not fit the style of Batoshi and therefore it is often someone else; not Satoshi.

Why are the movements of these inactive accounts causing such concern?

Because the world is anxious to know who this Satoshi is. There is no information about him, so tracking his currencies and their movement can give us an indication of his identity. In addition, he owns 5.7% of the total Bitcoin that exists all over the world so far. Thus, if he moves only a part of this portion; the whole cryptocurrency market will go upside down. This may be why his accounts remained inactive since 2009. This was a summary of Satoshi Nakamoto's huge net worth and the several attempts to track it to figure out who he is.

I advise you not to miss any of my blog articles to fully understand the basics of the world of digital currencies.

finally,

I want to know what you think in the comments below.

In your opinion, is the wealth of Bitcoin owners increasing or decreasing as Bitcoin spreads and multiplies in global markets?

I will follow all your answers in the comments. Above all, tell your friends about us,

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What is the wealth of the inventor of Bitcoin? Where is she?