STEEMIT CRYPTO academy| Season 3 Week 6 Homework for Prof. @awesononso

Who is Satoshi Nakamoto?

Satoshi Nakamoto is an assumed name used by the person or persons who invented Bitcoin Blockchain. Up to date it's not known if Nakamoto is a man , woman or a group of people. Several attempts have been made to discover and disclose the true identity of Nakamoto but have not yet succeeded.

This man stopped communicating with the outside world after Bitcoin started getting popular and his last message was the one he sent to his fellow Bitcoin developer where he said, "I've moved on to other things" and since then he has not been heard from.

So the search is still on, the most hard part is that Nakamoto has never done any political statement, interviews or statement whatsoever since his disappearance. So the search is done based on the few e-mails, forum communications he/she/they made while still working on the Bitcoin Blockchain.

Am still wondering why Satoshi Nakamoto wanted to remain secretive!.

Write on two claims/theories of Satoshi Nakamoto’s identity.

The mystery of Satoshi Nakamoto has brought about alot of guess works and theories within many people with the aim of identifying the real Bitcoin inventor. Though these theories have missing links but atleast they give us something to think about the true identity of Satoshi.

• Dorian Nakamoto

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He is a computer Engineer living in California who has had lots of projects with the military.
He was identified in 2014 to be the secretive Nakamoto. His original name was "Satoshi Nakamoto" but he changed his name to Dorian Nakamoto in 1973.

Later when a reporter approached him and asked him about his involvement in the invention of Bitcoin, he said, "I am nolonger involved in that and I cannot discuss it".

This statement was taken by the public that he was the Satoshi Nakamoto but he later came out in a public statement dismissing having any involvement with Bitcoin and that he thought the reporter was asking about previous confidential work projects that he was nolonger involved in. He also added that he had never heard of Bitcoin before.

But later, after being identified, he seemed so comfortable with the fame he was getting that he embraced and joined the crypto community by attending Bitcoin events.

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Though there are a few coincidences that connect Dorian Nakamoto to Satoshi Nakamoto, he is likely not Bitcoin inventor.

• Hal Finney

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His involvement with Bitcoin was from it's first stage since he is the first man who received the first ever Bitcoin transaction of 50 BTC from Satoshi Nakamoto while doing his testing.

It was also later discovered that Hal Finney and Dorian Nakamoto lived in the same city, Temple City, CA just a few blocks away from each other which made people believe that they were friends and that Hal had named it after his friend. But these two men however came out and denied knowing each other.

Hal Finney was diagnosed in 2009 with ALS (. ) and he retired by early 2011 weakening state but this is the same time Satoshi Nakamoto disappeared. Whenever he was questioned about being Satoshi, he always humbly denied but was always willing to help in the investigations.

The fact that he was stuck in the wheel chair because of his illness, reporters always went to his home to have interviews with him. At one of the interviews his son stated, "my father is an honest guy, he would have loved to have been part of creating Bitcoin, and he wouldn't have hidden it. But he wasn't involved".

And later on in the liguistic reports given by Juola &Associates which was matching possible Satoshi Nakamoto candidates, Hal Finney came out as the closest match.

There is indeed a close possibility of Hal Finney to be the secretive Satoshi Nakamoto but it's too bad that he died in August 2014, meaning there won't be any more interviews made to prove his identity.

• Nick Szabo

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He is a computer scientist and cryptographer.
He wrote about a cryptocurrency called "BitGold" on his blog in 2005 and also outlined ideas of a peer-to- peer digital money to system. But later the original posting date was edited and it looked as if it had been posted in 2008, the same year Bitcoin was launched.

The fact that Satoshi Nakamoto referenced other pre dated digital currencies in the white paper and left out BitGold also is leaves us with questions.

All the cryptographers who worked on Bitcoin with Satoshi Nakamoto publicly released their E-mail communications with him but Szabo didn't do it.

More still, in an E-mail between Satoshi Nakamoto and Hal Finney, Satoshi pointed out that the address code for his first mined block began with his initials NS. Which looks to be Nick Szabo (NS).

Nick Szabo qualifys fir those who believe him to be the secretive Satoshi Nakamoto but I think more evidence is still needed.

• Bitcoin is also seen as US government project

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There is also another theory that Bitcoin could be a US government project because many people think that it was created by the US Intelligence services to facilitate untraceable transactions in order to fund top secret international missions.

A post on Reddit which anonymously refered to the US government as "Uncle Sam" said
"Theory: Uncle Sam created Bitcoin in the immediate aftermath of the recession as a way to inflate an imaginary bubble rather than an actual asset class. The propagation if crypto has been pushed by opportunists led on by spies/actors"

Vatalik Buterin also made a post on Bitcoin talk forum in 2011 saying that he wouldn't be surprised if the National Security Agency(NSA) were involved in the invention of Bitcoin. He even further published an online article about the same.

More still, the brother of a well known drug lord Pablo Escobar also explained in his book that the world would very soon come to realize that the US government invented Bitcoin.

With all this going on, the US government is not showing any close connection to cryptocurrency.

Who is Wei Dai?

Wei Dai is a man who studied computer science. After his graduation, he worked with Terrasciences in Action as a programmer. He later joined Microsoft in Redmond WA, and while there he worked in a cryptography Research Group where he made alot of inventions.

In 1998, he made a publication of B-money ( an anonymous distributed electronic cash system) and he layered out the basic properties of today's cryptocurrency systems like untraceable pseudonyms that pay each other without outside help.

He was the first person together with Adam Back that Satoshi Nakamoto contacted as he was developing the Bitcoin and he also referenced the B-money in the white paper.

The contribution of Wei Dai is so outstanding because Al the Cryptocurrencies we have today stand on B-money system.

What is the current value of Bitcoin on the day you are performing this task? Calculate the USD value of one satoshi of the current value. (Show full working and to 3 s.f).

Calculating the USD value of one Satoshi of the current value, considering the value of Bitcoin as at the time of making this homework post according to https://coinmarketcap.com/. is

1 SAT = 1 × 10^-8 BTC

Solution
1 SAT = 1/100000000 × 1 BTC
1 BTC = & 39,567.25
1 SAT = 1/100000000 × 39,567.25
1 SAT = & 0.0003956725
1SAT = 0.000396 (to 3 s.f)

What is the current value of Ether on the day you are performing this task? Calculate the USD value of one Gwei of the current value. (Show full working and to 3 s.f).

Am going to calculate the current dollar value of a Satoshi considering the value of Ethereum as at the time of making this homework post according to https://coinmarketcap.com/ which is;

1 Gwei = 1×10

Solution

1 Gwei = 1/1000000000 ×1 Ether
1 Ether = & 2619.77
1Gwei = 1/1000000000 ×2619.77
1Gwei = & 0.00000261977
1Gwei = & 0.00000262 (to 3 s.f)

Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.
(Screenshots with username tag).

I am transferring 0.001 steem to vianneyspirit 's account.

I confirmed the transfer and it was successful.

Next am going to transfer 0.0001 steem still to the same account.

Here it's, telling me that steem only allows 3 digits on the Blockchain, so since this transaction exceeds that, it means it can not be successful. This is also seen in my steem, steem power and SBD balance. They all show or have 3 decimal places.

Therefore the smallest steem value to be transfered, though it doesn't have a name yet it 0.001. Anything beyond 3 digits can not be successful.

Conclusion
Though am still wondering why a man like Satoshi Nakamoto who did something so outstanding would decide to remain anonymous, but I applaud him for the freedom he is bringing into this world with the cryptocurrency era. Wei Dai's contribution can't also go unnoticed because it's the rock at which all cyptocurrencies stand. And also just like Fiat money, crypto currency is also measurable.

Thank you so much professor for the wonderful lesson. I have learnt alot.

CC: @awesononso