Crypto Academy / Season 3 / Week 6 _ Homework post for @awesononso
Hello all Friends
I hope that you are all will be happy and enjoying your best health. And I wish you always be happy. So Today am here for the post of the very intelligent and my favorite professor @awesonoso. This lecture is full of information because it is based upon some real facts and information about the crypto creates. So let's start without wasting time.
Who is Satoshi Nakamoto
If we look at this name Satoshi Nakamoto the first thought that comes to our mind is that Bitcoin. Satoshi Nakamoto is considered that it is the creator and the founder of Bitcoin. Bitcoin is the first cryptocurrency in the world so that was a great invention in his era.
And we talk about this name the name of the Satoshi Nakamoto is still hidden no one knows who Satoshi Nakamoto is. So this is a very surprising thing that someone who has done such a great job but has not yet been exposed to the world. And it has not yet been determined whether it is a man or woman (male or female) or a group of people working together to create the Bitcoin. Bitcoin is the first cryptocurrency which is created in 2008 as a whitepaper and in 2009 it is created digitally.
Satoshi Nakamoto wants to introduce a Bitcoin for creating a peer-to-peer payment system that does not depend upon any third-party confirmation. And Bitcoin is a cryptocurrency that is not controlled by any central authority and company.
Bitcoin is now a successful cryptocurrency and many people try or claim about the creator of the bitcoin. But it is a piece of great evidence that Nakamoto said that as Bitcoin reaches this level there the no need to know about its creator.
Write on two claims/theories of Satoshi Nakamoto’s identity
Above we talk about the founder of Bitcoin that No one knows the founder and creator of bitcoin. So the face f Satoshi Nakamoto does not reveal his photo. So the face of Satoshi Nakamoto is still hidden. But no there is no need to know about the great creator of this great job because bitcoin is now reached an unbelievable stage there is no need for the real creator of the BTC.
- So following are some Theories or claims for the identity of Satoshi Nakamoto (creator of Bitcoin):
At first, we see at google for search the photo of Satoshi Nakamoto.
Source
Everyone thinks that he is Satoshi Nakamoto but is he really Satoshi Nakamoto? This is still a mystery.
The man in the photo is a man whose name is Dorian Nakamoto, he is a Japanese-American software and he has great fun in his work. He considered the creator of bitcoin as the similarity of the name with the Satoshi Nakamoto. Similarly, many attempts were made to find out the real name of the creator of Bitcoin. So the media also made a lot of efforts to find out.
A journalist, whose name was Goodman went to the home of Dorian Nakamoto and ask to him that Zou is a founder of Bitcoin and do you involve in the creation of the bitcoin?
The answer of the Dorian Nakamoto was that:
“I am no longer involved. It’s been turned over to others. They are in charge of it now. I no longer have any connection".
What happened now was the Goodman became very confused at the word "it" which indirectly leads to the Bitcoin. So it is also still a mystery who is the creator of Bitcoin. And also make a worried for many people.
Craig Wright
Source
Craig Wright is an Australian computer scientist who says that he is a creator of Bitcoin. Craig Wright said that he was involved in the creation of Bitcoin with his friend Dave Kleiman (computer security expert). And this fact came to light in December 2015 through an article.
He claimed that he has a true identity of Santoshi Nakamoto.
All the claims of Craig Wright proved to be false and he was considered fraud because he did not prove that he is a true creator and founder of Bitcoin.
Who is Wei Dai?
Source
Wei Dai is a Chinese computer engineer who is involved in the work of cryptocurrencies. He works on cryptography. He created also a cryptographic library known as Crypto++, b-money cryptosystem, and VMAC. The real identity is due to the working on the b-money.
Wei Dai also worked on the ETH. The ETH is the most popular cryptocurrency after the BTC. So it is really a great thing.
Wei Dai also helped to generate interest in the cryptocurrency with the publication of money's anonymous distributed electronic cash system in 1998.
B-money did not work even but the cryptocurrencies are based upon it and it is considered very helpful in the fact cryptocurrency. Satoshi Nakamoto greatly appreciated his idea of B-money and accepted it. And also stay in touch with the Wei Dai.
Wei Dai became very famous in the world of cryptocurrency and was thought to be the founder of Bitcoin. But it is still in doubt. Because there is a similarity between the B-money and Bitcoin. The paper of B-money and the whitepaper of bitcoin considered the same. And due to the similarity in the first name of the B-money is same as the Bitcoin the Wei Dai is considered as the founder of the Bitcoin.
So Wei Dai also never proved to be the founder of Bitcoin.
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).
There are many websites that are used to check the latest price of the cryptocurrencies like:
- Coinmarketcap
- CoinGecko
I always use the Coinmarketcap. There are many cryptocurrencies are present here.
Price in PKR
Price in USD
So let's discuss the Satoshi to USD.
Satoshi/USD
Now here we convert the Satoshi into USD. As we know that;
1 Satoshi = 1/100000000 x 1 BTC
1 BTC = $43623.03
Then
1 Satoshi = 1/100000000 x $43623.03
1 Satoshi = 0.0004362303
So 1 Satoshi = 0.000436
So this is the price of te satoshi.
What is the current value of Ether on the day you are performing this task? Calculate the USD value of one Gwei of the current value. (Show full working and to 3 s.f)
So let see the price of ETHER in the Coinmarketcap.
So here check the price of 1 Gwei.
1 Gwei = 1/1000000000 x 1 ETH
1 ETH = 3076.89$
1 Gwei = 1/1000000000 x 3076.89$
1 Gwei = 0.00000307689$
1 Gwei = 0.00000307$
Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.
As we discussed about the subunits of the ETh and BTC so now we discuss about the subunits of the Steem.
So now we check the subunits of the stem by transfer the smallest amount of the Steem from one account to another account. So I transfer the 0.001 Steem to other account.
Here we must put our Active Key and press the **Next button.
After a few seconds this appears.
Now I wants to transfer the 0.0001 steem to the another account. So let see in screenshot.
So here we can see that this amount is not transfer because it is too small. We can transfer must be up to 3 decimal places.
Conclusion
This is really a great and very interesting lecture because by this lecture I have came to know all about the creation of Bitcoin and about the ETHER. We also have came to know about the efforts of Wei Dai for the cryptocurrencies. And we also came to know about the value of Steem that can be transfer to another account. This value must be up to 3 decimal places.This shows the hardworking and the whole credit of this lecture gose to very intelligent professor @awesononso .
- I hope that you will enjoy my post.**