Published On: Wed, May 29th, 2019

Interesting facts about Satoshi Nakamoto

Satoshi Nakamoto is known as the father of Bitcoin and many people describe him as mysterious. Satoshi is believed to be a man or a group however, no-one is certain the identity behind the name. Despite the mystery surrounding the father of Bitcoin, there are a few interesting facts about the group/person that created a multi-billion-dollar industry.

photo/ The World Spectrum

Facts about Satoshi Nakamoto

  1. The first interesting fact is that nobody knows the person Satoshi Nakamoto, therefore it is unclear whether the name is synonymous for a person or a group. The name first gained spotlight when it was used with the submission of a white paper on Bitcoin to a secret mailing list. The name is Japanese however the white paper was written in impeccable English. Throughout the white paper Satoshi addresses himself as “we” as well as “I” which leads many researchers to believe that it is a team or group of people.
  2. Satoshi Nakamoto owns more than a million Bitcoin and had a net worth of 6.5 billion dollars in 2010. Since then, no-one has heard of Satoshi so the net worth may not be an accurate representation at present.
  3. Many people are confused over who is Satoshi and some have even assumed that a group of companies is behind the name. It is believed, though there is no substantial evidence, that Satoshi Nakamoto is an acronym for SAmsung TOSHiba NAKAmichi and MOTOrola. Other people have their sights on Nick Szabo who is the founder of the concept of Bit Gold, which was established before Bitcoin.
  4. People are often baffled as to why Satoshi left the scene while some people speculate that he lost interest in Bitcoin. However, whatever the reason, before Satoshi left, he posted on Wikileaks claiming Bitcoin. This led many people to assume that he did not like the attention he was getting from Wikileaks and left the scene.
  5. Satoshi merchandise became so popular with t-shirts claiming, “I am Satoshi Nakamoto” or “Who is Satoshi Nakamoto”. These are available from online sites like Zazzle and Teespring.

Many people believe that the secrecy of Satoshi Nakamoto has added to its success and has proven to be healthy for Bitcoin.

How can you buy BTC?

There are various options available if you want to buy bitcoin, you can purchase BTC with Visa or Mastercard, or even buy it cash. It can be done online or at an official Bitcoin service provider. Bitcoin can be exchanged for cash or withdrawn to a bank card of any bank. The exchange rate that is given to you when buying or selling Bitcoin is fixed for 30 minutes if you are purchasing and following your second confirmation message if you are selling. Bitcoin is private and you do not need to provide your ID when transacting. Your service provider will also not store your personal information on their system after your transaction has been finalised. Ensure that the service provider you choose adheres with relevant security requirements of the standard PCI DSS level 1 before transacting with them.  

Author: Alex Omelchenko

On the DISPATCH: Headlines  Local  Opinion

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