Crypto Academy | season 3 | week 6- homework post for @awesononso | @doyoy

Bitcoin is a decentralized digital coin that was developed with the hope of spearheading the emergence of digital currencies that will replace our conventional fiat money. Over the years, one can say that bitcoin has really come to stay and it has opened up a space for other altcoins to thrive. Bitcoin was founded in 2008 by a person or committee of people known as Satoshi Nakamoto.

The Identity of this Satoshi Nakamoto is something that has lingered for a very long time and even now the Identity Is not known for sure. Some theories say that It is a person, others say it has to be a group of people because of the sophistication of the codes.

Many investigative journalists have been rooting for the Identity of the Mistery man, Satoshi Nakamoto, but all that has been found is just clues , and nothing precise yet. A careful analysis of the Language in the White paper and the Peer to peer profile indicates that Satoshi should be someone of British Origin or at least related to the Great Britain.

Another pattern observed is the activity period as it can be inferred that the inactivity pattern follow that of Britain time zone ; he is usually inactive within the hours of 12am -5am, and this corresponds to sleep pattern in a commonwealth countries .

Satoshi was very much involved in the early growth stages of bitcoin and only went into the clouds in 2010.The name sounds Japanese right?Satoshi himself claims to be a Japanese in his 30s But that is too easy an information to get from someone who wants to stay hidden. Investigative journalists and enthusiasts has over the years come up with various theories that has been denied , withdrawn or lacks enough evidence.

Why does Satoshi wants to stay anonymous so much?

If the Identity of the Bitcoin Creator were to be cracked , it creates a kind of distrust and the feeling that a certain person or group has the power to do and undo and this will poss a threat to the very bedrock of Bitcoin ; Decentralization, and investors may begin to loose confidence in the asset and the price will be poised to fall.

Another reason for anonymity is the fear of legal battles and law enforcement. Bitcoin is being used for all sort of trade ; Dark ,shady deals , arms deal inclusive, so in the Identity of Satoshi Nakamoto were to be cracked, it will put the life of the creator or creators and their family at risk, so most probably the identity of Satoshi Nakamoto may never be known.

SOME THEORIES ABOUT THE IDENTITY OF SATOSHI NAKAMOTO

1)Dorian Satoshi Nakamoto

This is a Japanese American who although denied any knowledge of Bitcoin is the first name that pops up in th mystery uncovering adventure. Dorian was highly suspected to be founder of Bitcoin. Nakomato was a trained physicist who studied at the Cal Poly University.

Nakamoto was also a system Engineer, and computer Engineer and worked on some classified projects for financial information management companies. Dorian was once asked about as Bitcoin and he said he "no longer has anything to do with it" but later came out to outrightly dismiss it as a misinterpretation of the question after he gained a lot of media attention.

But who will trust a man that works for classified financial companies with issues such as this , Surely not me. Satoshi Nakamoto later postal on his peer to peer(P2P) foundation profile to declare that he is not Dorian , but the claimed to be hacked later . So no one knows the authenticity of the Profile updates.

All of these seems like an elaborated effort to keep the identity of Satoshi a mystery, Don't you think so?

Although Dorian Satoshi Nakamoto seems to be the easy catch, Is it a coincidence that he shares the same name with Satoshi Nakamoto? Given his profile and all, I don't think so. He may not be Satoshi, but he may know more than he is telling us or that he is at liberty to say .

2)Hal Finney

This is the first person apart from Nakamoto himself to use the new software. Hal and Dorian Nakamoto live some blocks apart and their writings when compared are very similar. This let some investigative journalists to speculate that Hal has something to do with the Bitcoin paradox. Some say Hal was the ghostwriter for Dorian and that Dorian is being used as the face and that Hal Finney is the real Nakamoto.

What is Hal Finney actually used his neighbour-Dorians, Identity to divert attention from himself being the real Satoshi Nakamoto? Considering that they live close to each other and both of them are Cryptography enthusiasts, Could all this a coincidence too?It was later discovered that the email that was sent to Finney on the purchase of Bitcoin resembles Nakamoto's other writings than Finneys.

When interviewed ,Hal Finney denies being Involved in the creation of Bitcoin.
Wei Dai is a computer engineer known for inputs to Digital assets and cryptocurrencies. He formulated the Crypto++ library, and cryptocurrency system known as B-money .Wei Dei is a computer Engineer, who graduated from the University of Washington.Wei Dai was among the very first people contacted by Satoshi Nakamoto during the early days of Bitcoin.

There has been speculations that he could be the Satoshi Nakamoto that everyone wants to know about but just like the rest, he denies being Satoshi Nakamoto. He may not be Satoshi but for all we know, he is indeed a genius .

B-Money

This is the brain child of Wei Dai, b-money was initially designed to be an unidentified, distributed Digital currency system. It was supposed to deliver the same experience and features like conventional cryptocurrencies like , ethreum, Bitcoin, etc, of today.

The idea of decentralization and block chain was not just birthed forth over the night, it has had some roots that date back into the 80s and 90s. A good predecessor to the emergence of bitcoin is the B-money. This asset was not formally launched but it's framework was referenced by the creator or creators of bitcoin in 2008.

The structure of B-money is like a model that Cryptocurrencies like bitcoin incorporated into their blockchain but even Wei Dai himself denied that his work was read beforehand by Satoshi . Wei Dai would say that his work was only referenced when Satoshi discovered there was a related work to his , and that Satoshi's work was independent of his.

The Satoshi

Satoshi is a subunit and the smallest unit of Bitcoin as recorded on the Bitcoin blockchain. It is necessary to break Bitcoin down to smaller "denominations"
So as to facilitate smaller transactions this brought about the Satoshi ; which is actually named after the founder or founders of bitcoin, Satoshi Nakamoto. 1 Satoshi is equivalent to 0.00000001 Bitcoin. As at the time of writing this article, the price of bitcoin is equivalent to $40,884.70.

The price of 1 Satoshi = 0.00000001×40,884.70
1 Satoshi = $0.000408847
To three significant value , 1 Satoshi =$0.000409

The Gwei

A Gwei, or Gigawei, name after Wei Dai for his contributions to cryptography , is a subunit of the ETHER. Gwei makes it easy for small payments and gas payment on the Ethereum platform. 1 Ether is currently worth $2,796.21.
A Gwei is equivalent to 0.000000001 Ether.
1 Gwei = 0.000000001×2,796.21= $0.00000279621.

1 Gwei, to three significant value, =$ 0.00000280.

Question 6

The first step is to first login to your steemit account,.

you will need to go to your steemitwallet page
Through the screenshots below

Then you click the section of your steem and clicking on the transfer section option as you see in the screenshots below

First Transaction : 0.001 Steem

A page will be open to you to make a transfer.

In this first one, I will be making a transfer of 0.001 steem first as you see in the screenshots below

As you can see, I will be transferring 0.001 steem to @awesononso and making the confirmation as you can see in the screenshots below

Then you confirm the transfer using your active key for the transfer of the steem

As you can see in the screenshots, it has already been done

Second Transaction : 0.0001 Steem

Now I will be trying to send 0.0001 steem to a steem account using my steem wallet.

Unfortunately, this is what I encountered when trying to send it

Use only 3 digits of precison

Conclusion

Considering the level of sophistication of the bitcoin code, It is almost impossible that only one man ; Satoshi Nakamoto, can come up with such masterpiece. Bitcoin most probably has to be the work of more than one genius, it has to be the collective effort of enthusiasts and geniuses who are passionate enough to create a currency that will set the pace for other such currencies in the future .

Even though the general public may not know the Identity of the Bitcoin Founder, at least we know that there are people who could , Hal Finney, Wei Dai are some of those people that worked with the Bitcoin project in its early days , so it is not out of place to say that they know some things that they are not telling us.

But the reality remains that the Identity of the man behind the mask may never be revealed for Security reasons and also because of the decentralized nature of bitcoin , because once a face is gotten , regulation and other government vices will cause a great damage to the Bitcoin we love so much. Until the Identity is cracked, the creator of Bitcoin remains Satoshi Nakamoto of Japan.

@awesononso