by Hodler Ash 
Who Is Satoshi Nakamoto ?
In case you have been around the crypto-world for quite some time or even started to learn a few things about the market, you must have come across the name Satoshi Nakamoto. There is a lot of history behind this name. The most popular cryptocurrency token is of course, Bitcoin. Satoshi Nakamoto is a name which is pseudonymously used by a person or a group of people actually developed this most popular cryptocurrency token.
Nakamoto was very active in the development of Bitcoin till December 2010 and he also authored the Bitcoin white paper while creating and deploying the original reference implementation for the cryptocurrency. This is one of the most important name in the cryptocurrency market and every single person who is interested in joining the market and start trading in it, must know about him.
More About The Development Of Bitcoin
Every plan, product or service requires development and it is very necessary to keep developing according to the needs of the customers. Nakamoto was the person to devise the first blockchain database which was a part of the Bitcoin’s implementation. Back in a time, there used to be a double-spending problem for the digital currencies when using a peer-to-peer network.
That was analysed and solved very beautifully by Nakamoto, being the first person doing it. Satoshi Nakamoto can be a specific single person or a group of people who worked in creating and developing the Bitcoin. The gender is assumed to be male but nothing about it is revealed. In fact, a lot of people claimed to be Satoshi and the world doesn’t really know which one or which group is the right Satoshi.
Back in October 2008, Nakamoto published a paper and discussed the Bitcoin digital currency, briefly describing it to the people who did not have any idea about it. The first ever Bitcoin software was also released by Nakamoto and he is definitely the person who brought the whole cryptocurrency on the map. He kept developing the software as well to meet with the needs and January 2009 witnessed the version 0.1 of the Bitcoin software.
The code which was written for the first ever Bitcoin software started in 2007 itself and it did take a lot of time to develop the perfect software. Nature of the bitcoins was similar to the nature of the digital currencies and that is why he made sure that the core design of the software should be able to support a broad range of transaction types and that is what the customer would need as well. Any digital currency exchange should have a good support of different types of transaction. A predictive script was written which enabled a lot of specialized codes and data fields.
It was also very necessary for the Nakamoto to collaborate with many other developers after creating a website with the domain name of bitcoin.org and this kept on happening till the middle of 2010. After this point of time, the source code repository and the network alert key was handed over to Gavin Andresen. Before handing over, he made the necessary modifications that he thought should be made.
Identity of Satoshi Nakamoto
Whenever Nakamoto discussed any technical matters, he did not open up very much about it and wanted to keep it a secret to himself. Definitely, a person who created something like Bitcoin deserve to not reveal the technical things happening behind the development of the coin.
However, he did talk about something related to banking and fractional-reserve banking. There was a P2P Foundation profile in 2012 which said that he was a 37-year-old male who was a Japanese. Some people also thought that he might not be a Japanese because his English was too fluent for somebody likely to be a Japanese. He used to use perfect English and the Bitcoin software was not documented or labelled in Japanese either. These people believe that Nakamoto or 1 out of the group of people called Satoshi Nakamoto was of Commonwealth origin because of occassional British English spelling and terminology in both the source code comments as well as the forum postings. Speculations are always there but most people believe that he is a Japanese as was mentioned in the P2P foundation profile.
For someone presumably living in Japan, the time stamps for each of the Bitcoin forum posts that were posted by Nakamoto aren’t usual. Stefan Thomas, a Swiss coder who is also an active community member graphed these timestamps and after analysing, he came to the conclusion that according to the Japanese time, an unusual sleep pattern was followed by Satoshi Nakamoto.
There were always lesser or no posts between 5:00 a.m. and 11:00 a.m. and that is the reason why the speculations are still alive and not all people believe that Nakamoto is actually Japanese. It completely makes sense because if Nakamoto had to reveal his identity to some extent, he would have just revealed his real name and came in front. He would only lie when he does not want to leave his real identity.
A lot of cryptography and computer science experts who are not non-japanese have been researching on the real identity of Satoshi Nakamoto but it has not been found yet. There was a lot of people who came up in front of the media claiming that they were Satoshi Nakamoto but proofs were required.
Satoshi Nakamoto Net Worth
The net worth of Satoshi Nakamoto is not clearly known which is obvious because of the anonymous state he loves to be in. However, at Bitcoin’s peak in December 2017, it was possibly said that he was worth $19 billion. If that is absolutely true, Nakamoto would have possibly been the 44th richest person in the world at that time.
As per July 2019, it was reported that the design choices of Bitcoin roughly limited the number of Bitcoins to around 21 million. That is actually a huge amount (which if completely mined and circulated by people around the world) would result in over $172 billion worth of bitcoins circulating in the market.
