Crypto Academy | Season 3 | Week 6 - Homework Post for [awesononso]
1) Who is Satoshi Nakamoto?
Satoshi is the name of the person or persons that authored the Bitcoin white paper in 2008 and later on developed the Bitcoin in 2009, as they even went ahead to create the Bitcoin data base.
However, the identity of Satoshi Nakamoto is unknown as people have tried to investigate and come up with different theories however all of them have proved futile. Therefore up to this day there are only speculations as to Satoshi’s identity as no one knows who it really is.
2) Write on two claims| theories of Satoshi Nakamoto’s identity.
Much as Satoshi Nakamoto’s identity is not known, it has not stopped curiosity from causing people to investigate and come up with different theories about his/her/their identity. However, all these theories have been proved wrong.
Some people believe that the the work of coming up with Bitcoin was so neat in that it must have been impossible for an individual to come up with it therefore some people believe it must be a group of people.
Dorian Satoshi Nakamoto.
This gentleman was suspected to be the real Satoshi Nakamoto because they had the same exact names Satoshi Nakamoto. Furthermore, some emails were showed as evidence that this gentleman had been in touch with the real Satoshi and they were communicating about Bitcoin. All this led people to believe that he may actually be the one. This gentleman however disputed those facts and denied being the real Satoshi Nakamoto.
Dorian was also really interested in cryptography and computer science thus all this evidence piled up was bound to make people believe he was the one till he denied it. He was also of Japanese descent.
The English used in the making of Bitcoin is also said to have been so fluent in that people believed it may not have been a Japanese or if it was, it must be one who has lived in a predominantly English speaking countries. Therefore, this is one point that caused people to doubt that it was Dorian.
Hal Finney
This gentleman is of Australian descent and he was also involved and very interested in cryptography and computer science. It was also said that he lived next to Dorian Satoshi. Evidence was also produced of his correspondence with the real Satoshi Nakamoto discussing Bitcoin. He was also the first person apart from the real Satoshi Nakamoto to actually invest in Bitcoin.
All these factors fueled people’s’ belief that he was Satoshi Nakamoto though had used the name as a guise. The fact that the real Satoshi Nakamoto’s English was considered fluent Hal was a probable suspect. However, he denied being Satoshi Nakamoto therefore this also just became a theory.
3 Who is Wei Dai?
Wei Dai is said to have published the first white paper of a cryptocurrency called b money, however the work to actually put the crypto currency into existence never took place. Satoshi Nakamoto actually used some of his work and made reference to it while coming up with Bitcoin.
He is most known for his project b-money and also his great work on Crypto++ and VMAC.
Some people have speculated that Wei Dai might have been Satoshi Nakamoto and maybe that was why he had named his currency b money as it was similar to Bitcoin, however, those speculations were refuted to.
Wei Dai is said to have been very instrumental in the creation of crypto currency as a whole as many cryptographers actually give lots of reference and recognition to him. His identity is actually known though he loves to keep a low profile.
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)
Bitcoin was broken down into smaller units to enable small investors be able to buy small fractions of Bitcoin. Satoshi is a measure of a Bitcoin and it is a millionth of 1 Bitcoin. This measure was named after Satoshi Nakamoto.
The value of Bitcoin currently is USD 40,463.92.
1 Satoshi = 1/1,0000,0000
**USD value of 1 Satoshi **
1 Satoshi = 1/100000000 x 1 BTC
= 1/100000000 x 40,463.92
= 0.00040464 usd.
Therefore, the value of 1 Satoshi in Usd is 0.00040464usd.
**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). **
Ether is a unit of payment of the cryptocurrency Ethereum. The current value of Ether is usd 2,743.05.
USD value of one Gwei
1 Gwei = 1/1000000000 ether
1 Gwei = 1/1000000000 x 1 ether
= 1/1000000000 x 2,743.05 usd
= 0.0000027431 usd.
Therefore, the value of 1 ether is 0.0000027431 usd.
Transfer 0.001 steem to an account. Then send 0.0001 steem. Show what happens and state why. (Screenshots with username tag).
I went to my wallet, clicked on the word STEEM in green and a tool bar came with various words and I clicked transfer.
A step with places to fill in whom to send to, the amount and reason appears which are to be filled in.
After filling in, then one clicks on ok in a black box to go to the next step.
After clicking on the word next in the above image, then one has to go to the next step and fill in your active key and the process is done.
Thank you @awesomonso.