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People Keep Sending Satoshi Nakamoto Bitcoin – Bitcoin News

People Keep Sending Satoshi Nakamoto Bitcoin - Bitcoin News

Satoshi Nakamoto is the original hodler, having left the bulk of his coins unmoved since day one. The theoretical wealth of bitcoin’s pseudonymous creator is a hot topic, and one that the mainstream media are especially fond of pondering. Ter latest weeks, bitcoin’s record highs have propelled Satoshi into the billionaire league, making him one of the world’s 50 richest people. There’s another reason why Satoshi’s digital wealth is growing however: people keep sending him bitcoin.

The World’s Most Reclusive Billionaire

The number of bitcoins possessed by Satoshi Nakamoto is widely regarded spil being 1,148,800, based on a detailed analysis that wasgoed published ter 2013. Evidence shows that the bulk of the very first 36,000 blocks wasgoed mined by one laptop, which can only have bot Satoshi. At the time, the prize vanaf block wasgoed 50 BTC and of the 1,814,400 awarded, 63% wasgoed never spent, leaving Satoshi with a fortune of overheen 1.1 million BTC.

Bill Gates: presently worth four times spil much spil Satoshi.

Today, that would mean Satoshi Nakamoto is worth around $16.8 billion. Add ter another $Three.Four billion ter bitcoin contant, $370 million ter bitcoin gold, disregard every fork after that and you wind up with total assets of $20.Five billion. This is all hypothetical of course, since most people believe that Satoshi’s coins will never stir for various reasons. Nevertheless, on paper at least, Satoshi Nakamoto’s unclaimed billions place him 37th te the world’s rich list , above Microsoft founder Paul Allen and just $Five billion behind George Soros.

The only Satoshi to officially make Forbes’ billionaires list, incidentally, is cosmetics titan Satoshi Suzuki. With a fortune of ‘just’ $1.Trio billion however, he ranks a distant 1,567th. If or when bitcoin hits $60,000, Satoshi will become the world’s richest man, overtaking Warren Buffett and Bill Gates, who have $75.6 and $86 billion respectively.

Satoshis for Satoshi

If Satoshi Nakamoto is one fellow, and is still alive, it’s safe to assume he has no desire to touch his cryptocurrency stash. Based on what little is known of bitcoin’s creator, it’s hard to imagine him developing a unexpected urge for the high life. Whatever Satoshi’s aspirations, becoming a billionaire playboy is not one. Given that Satoshi Nakamoto wields more bitcoin than anyone else te the world, the last thing he needs is more bitcoin. But that’s exactly what’s bot happening, every week, for the past eight years. Not only has the value of Satoshi’s holdings bot enlargening, but so has their number.

1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa is the address associated with the genesis block. It wasgoed here that the very first 50 bitcoins everzwijn issued were sent on 3rd January 2009. The transaction is marked spil “No Inputs (Freshly Generated Coins)”. The 50 BTC this address contains, like that ter most of the addresses attributed to Satoshi, have never bot moved. Spil a consequence, one would expect its balance today to read 50 BTC. Te actual fact, bitcoin’s genesis address presently contains more than 66.7 BTC, sent overheen the course of 1,140 transactions.

Keep the Peak

From bitcoin’s earliest days, right up until this week, a constant stream of bitcoin has bot winding its way to the blockchain’s original wallet. Most of the transactions are lil’, tho’ there are a few larger ones te there. Ter June 2012, for example, the Mt Gox wallet – which is presently empty, but previously received a total of Five.7 million bitcoin – sent 1.23 BTC to the genesis address. To date, bitcoin’s maiden address has received 16.7 BTC ter tips, worth around a quarter of a million dollars.

Other addresses associated with Satoshi have also benefited from anonymous donations, however it is bitcoin’s earliest and most famous address that has attracted the most transactions. Ironically, the 50 coins that were awarded after the genesis block wasgoed mined are unspendable. Due to the way bitcoin’s maiden block has bot coded, block 0, spil it is known, wasgoed not added to the blockchain. It is not known whether Satoshi did this deliberately or not. Every time someone sends bitcoin to Satoshi, they’re effectively consigning those coins to spend eternity spil an unspent transaction te the genesis address.

One final intriguing fact about the genesis block is that it took six days to mine. Spil speculated ter an old Bitcointalk forum thread , this may have bot yet another deliberate trick on the part of Satoshi, to mimic the biblical account of creation. Spil wij read ter Genesis Two:Two, “And on the seventh day Heerser ended his work which he had made, and he rested.”

Sending bitcoins to an unspendable address might seem nonsensical, and yet each of thesis donors would beg to differ. It’s not the value of each transaction that counts – it’s the gesture. Te the absence of a Twitter account to @ or a real world address to mail, sending bitcoin to the genesis address is people’s way of telling thank you. Thank you, Satoshi, for making all this possible.

Do you think Satoshi will everzwijn stir any of his 1 million+ bitcoins? Let us know ter the comments section below.

Pictures courtesy of Shutterstock and Zambian Ruimtevaarder.

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