Crypto Academy / Season 3 / Week 6 - Homework Post for professor @awesononso

Hello everybody, Hope you all are fine and in good health!

My this post is a Homework Task assigned by professor @awesononso

Who is Satoshi Nakamoto?

Satoshi Nakamoto a name that will be called out whenever there is talk about crypto currencies, The person behind this name is still not traced and seems that never will be but his work will always be long remembered.

In this world when the banking system had failed to sustain while centralization was on its peak, to break the shackles and bring about a change Nakamoto introduced Bitcoin in the market, hence his introduction to bitcoin changed the system and paved the way for many lives to earn big after 2009.

But remember, no one knows exactly who was Satoshi Nakamoto and where he is currently.

Write on two claims/theories of Satoshi Nakamoto’s identity.

1) Hal Finney

Hal Finney, a name that every Bit coin enthusiast must have heard he was the first of the members who had received Bitcoin from Nakamoto and also receives emails from Nakamoto about the Bitcoin regularly.

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He was an advocate for cryptocurrencies and many people associated him with being The Satoshi Nakamoto but he denied all the claims and was right.

2) Craig Steven Wright

He is an Australian scientist named Craig Wright. He was also put under claims after his implementation for the Bitcoin cash hard fork which gave rise to the Bitcoin Satoshi Visions.

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These claims were made on the basis of leaked emails but were never denied by the Australian scientist and later when proved wrong he was given the tag of fraud.

Who is Wei Dai?

Wei Dai, another individual who was thought to be the founder of the first crypto currency. His identity is not hidden but you can find any pictures of him on the internet. Being a cypherpunk and one of the first people to step into the field of cryptography he must be regarded as one of the important people when it comes to crypto currencies. Dai published his work in 1998 by proposing the idea of the first online currency which he gave the name as b-money but the idea did not work out and was on the left till the point of publications.

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When Nakamoto published his white paper in 2008 people saw him referencing Dai in his publications and his white paper matched a lot with the publications of Dai, this made people realize that Dai had something to offer at that time. Nakamoto was also in contact with Dai throughout his project as Dai has made several contributions to the industry including crypto++ and etc.

Calculating the value of 1 Satoshi

People who cannot afford a whole Bitcoin buy Bits of Bitcoin or shares of Bitcoin the smallest unit measuring the value of the Bitcoin termed as the Satoshi and it is symbolized with SAT with a value equivalent to one hundred millionth .


So,

1 Satoshi =  1/100000000 x 1 BTC

1 BTC = $39,399.56

Therefore 1 Satoshi = 1/100000000 x $39,399.56

1 Satoshi = $0.000394

Calculating the value of 1 Gwei

Just like Satoshi, ETH has its own unit Gwei which is the smallest for ether. 

1 Gwei = 1/1000000000 x 1 Ether

1 Ether = $2682.19

Therefore 

 1 Gwei = 1/1000000000 x $2682.19

1 Gwei = $0.00000268

Sending 0.001 Steem and 0.0001 to an other user

1) Transferring 0.001

• First of all login to my steemitwallet with active key
• Then click on Steem and more options will appear

• Then click on Transfer to send Steem to other user

• Then enter the username of other user whom we want to send
• Then enter the amount

In my case, I wanted to send 0.001 Steem to professor and it can be seen in the above screenshot that I successfuly transferred 0.001 Steem

Now,

2) Transferring 0.0001

Now, I am transferring 0.0001 Steem to professor

Sorry, It's an error. We can't send 0.0001 Steem because the value should only be in 3 digitis of precison.

Conclusion

So to conclude this lecture or what I learnt from this lecture is that No One exactly know that who is Satoshi Nakamoto is and where he is currently. No One even knows that he is a male or female or group of people, alive or dead. But everybody is making guess and relating to different people that maybe he is Nakamoto because of several reasons.

And if I talk about sending steem then minimum value which we can send to other user is 0.001 Steem

Thank You