The mystery of Satoshi Nakamoto's wealth of 1.12 million Bitcoins

Bitcoin, as a decentralized digital currency, has attracted the attention of countless investors and technology enthusiasts since it was launched by Satoshi Nakamoto in 2009. Today, with the soaring price of Bitcoin, especially its market value has exceeded the milestone of 1 trillion US dollars, the discussion about the number and value of Bitcoin held by Satoshi Nakamoto has intensified. According to current estimates, Satoshi Nakamoto may hold 1.12 million Bitcoins, which has a market value of up to 10.9 billion US dollars. This article will delve into the story behind Satoshi Nakamoto's Bitcoin wealth, the technical background and the impact on the future cryptocurrency market.

First of all, understanding the mysterious figure Satoshi Nakamoto is an important prerequisite for understanding Bitcoin. Although Satoshi Nakamoto's contribution to the Bitcoin white paper is indelible, his true identity remains unclear. Some people think that Satoshi Nakamoto may be a person, while others speculate that he is a team. In any case, Satoshi Nakamoto's design concept and technical implementation laid the foundation for the subsequent blockchain technology. The decentralized nature of Bitcoin makes transactions no longer dependent on central institutions. This innovative concept has attracted the participation of investors and developers around the world.

In the early days of the Bitcoin network, the difficulty of mining was relatively low, and miners could easily mine Bitcoins with ordinary computer equipment. Therefore, Satoshi Nakamoto accumulated a large amount of Bitcoin in the early days. According to estimates, the 1.12 million Bitcoins currently held by Satoshi Nakamoto account for about 5% of the total supply of Bitcoin. If we calculate based on the current market price of Bitcoin, the value of these 1.12 million Bitcoins has reached 10.9 billion US dollars, which is undoubtedly a huge fortune.

However, Satoshi Nakamoto's Bitcoin has hardly been used or transferred in the past decade, which has sparked widespread speculation. Some people believe that Satoshi Nakamoto may have died or chosen to live in seclusion and is unwilling to participate in Bitcoin transactions and market activities. This mysterious silence makes Satoshi Nakamoto's identity and intentions even more confusing. At the same time, there are many different voices in the market about Satoshi Nakamoto's identity and the future value of Bitcoin.

From a technical perspective, the value of Bitcoin is not only reflected in its price, but also in the blockchain technology behind it. As a distributed ledger technology, blockchain can ensure the transparency and immutability of transactions. The innovation and application of this technology make Bitcoin not only a digital currency, but also a new way to store and transfer value. With the continuous development of blockchain technology, more and more industries are beginning to try to apply it to practical scenarios, such as supply chain management, financial services, etc.

In the Bitcoin investment boom, many investors have shown great interest in the Bitcoins held by Satoshi Nakamoto. People began to speculate how the market would change if Satoshi Nakamoto decided to sell his Bitcoins. Since the number of Bitcoins held by Satoshi Nakamoto is huge, once they enter the market, it is bound to have a huge impact on the price of Bitcoin. This hypothesis has sparked widespread discussion and attention, and many investors have begun to re-examine their investment strategies.

Judging from the feedback from the market, the price fluctuation of Bitcoin is closely related to the dynamics of Satoshi Nakamoto. Whenever there is news about the identity of Satoshi Nakamoto, the market tends to fluctuate violently. Some investors flock to the market because of their curiosity about the identity of Satoshi Nakamoto, while others choose to withdraw due to concerns about potential risks. This phenomenon shows that the mystery of Satoshi Nakamoto not only affects the investor sentiment of Bitcoin, but also becomes an important factor in market fluctuations.

In addition to investors' attention, media coverage of Satoshi Nakamoto should not be underestimated. With the rise of social media, various speculations and discussions about Satoshi Nakamoto have emerged on the Internet. Whether it is speculation about Satoshi Nakamoto's identity or analysis of the future trend of Bitcoin, the voice of the media has shaped the public's perception of Bitcoin to a certain extent. At the same time, this high level of attention has also provided a good public opinion foundation for the promotion and popularization of Bitcoin.

Globally, the influence of Bitcoin has gradually penetrated into every corner. More and more merchants have begun to accept Bitcoin as a payment method, and some countries have even regarded Bitcoin as legal tender. Behind this trend, it is inseparable from the decentralization concept advocated by Satoshi Nakamoto. The success of Bitcoin is not only a victory for its technology and market, but also a challenge and subversion of the traditional financial system.

As Bitcoin continues to develop, many people have begun to pay attention to its impact on society and the economy. The rise of Bitcoin has provided new economic opportunities for some countries and regions, especially in places where financial services are scarce. The popularity of digital currency can help people conduct transactions and save more conveniently. However, this emerging form of currency also brings a number of risks, such as sharp price fluctuations and network security issues.

In the future, as blockchain technology continues to develop and be applied, the prospects of Bitcoin remain uncertain. How the 1.12 million Bitcoins held by Satoshi Nakamoto will affect the cryptocurrency market remains an open question. Regardless of how Satoshi Nakamoto chooses to participate in the market, his presence will continue to affect the future development of Bitcoin.

At the individual level, many investors choose Bitcoin as part of their asset allocation, hoping to increase their wealth with its potential high returns. However, investing in Bitcoin is not without risk, and market uncertainty and price volatility put many investors under pressure when making decisions. For ordinary investors, it is crucial to understand the basic principles, market dynamics and potential risks of Bitcoin.

While discussing the value of the Bitcoin held by Satoshi Nakamoto, we should also pay attention to the technology and ideas behind it. Bitcoin is not only an investment tool, but also a reflection and challenge to the traditional financial system. The future financial market may be reshaped by more advanced technology, and Bitcoin is undoubtedly an important part of this change.

In summary, the 1.12 million bitcoins held by Satoshi Nakamoto not only represent a huge fortune, but also an important milestone in the development of digital currency. As the market continues to change, the discussion about Satoshi Nakamoto and his bitcoin will continue. When facing this mysterious figure, investors should remain rational and think deeply about the technology and concepts behind Bitcoin in order to make wise decisions in a complex market environment.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Whale Alert in July
A report on Satoshi Nakamoto was released on the 20th. The report made the most accurate estimate of the number of blocks mined by Satoshi Nakamoto and the bitcoins he owned. Satoshi Nakamoto mined 54.316 bitcoin blocks and held 1.125.150 bitcoins, worth $10.9 billion. In addition to transactions, other details related to the mining process, such as
The nonce and extranonce values (used by miners during the mining process) are also added to the block.
In 2013, Sergio Demian Lerner discovered that in each block’s coinbase transaction (the transaction that creates the reward bitcoin for mining the block)
There is a clear pattern visible in this backlink value.
Patoshi Pattern
The above image shows the outlink values for block heights below 20,000, with each block represented by a dot and forming a distinct saw-like pattern.
It is believed that these diagonal lines are created by miners using the standard, publicly available Bitcoin software: the straight lines they leave behind are the result of miners incrementing the outlink value each time they mine a new block on the network, either during their own mining process or every time they mine a new block on the network. The sharp sawtooth pattern is created by resetting the outlink value to zero, which happens every time a miner restarts. The almost vertical lines in the graph are attributed to
A miner named Patoshi by Lerner.
We know for sure that Patoshi was operated by Satoshi because its pattern was present at the very beginning of the network, and it mined blocks that created the coin sent to Hal Finney.
Bitcoin. Lerner in the block mined by Patoshi miner
Additional evidence for his claim was found in the nonce (another value used in the mining process, also stored in each block, but not in the same chain): the last byte of the nonce is always between 0 and 9 or
19 to 58, while all other miners used the full range of 0 to 255. This finding makes it possible to attribute the block to Patoshi
However, at the intersection of Patoshi and standard miner mode, block attribution remains difficult, especially beyond 20,000
After the block, the number of active miners increased significantly.
When adjusting for outlink ranges, the Patoshi pattern becomes clearer
We suspect that the limited range of the last byte of nonces is due to the fact that the work is divided among several computers or CPU cores, each of which has a
Cores use different numbers to prevent duplication of work. With this in mind, we checked whether the range itself changes as mining power is added or removed, and we found that it does change over time. For example, the range
[0-9][19-58] is only used in the first 18.015 blocks, then reduced to [0-9][19-48] until the 21.308th block.
The same thing happened in subsequent block periods (the table below lists the ranges for each block period) (similar findings have been described in this anonymous blog). Our research also found some interesting new details:
Between blocks 21.467 and 25.777, the range [0-9] is only used on each Patoshi chain (each chain is a single run of the miner, hence the single line in the diagram above), number 39
Only used sporadically. Between blocks 25.811 and 54.316, some chains had no numbers at all.
29. These anomalies may indicate that some computers or cores were defective or shut down during these periods. These findings allow us to rule out more possible scenarios that are not Satoshi
mined blocks and provides us with a clearer picture (see above), which is especially valuable at higher block heights where mining activity on the network increases dramatically.
Patoshi nonce ending range
The improved attribution of Patoshi blocks allowed us to accurately determine the average mining rate of Satoshi miners, and surprisingly, we found that nonce
The change in the end range does not correlate with the change in mining speed: the average mining speed remains incredibly constant over a long period of time. For example, at heights 2.000 to 16.000
Throughout the entire block range between 2000 and 2017, the average number of blocks mined per hour by Patoshi was almost exactly 0.6 per 10 minutes.
Although the number of miners varied greatly during this period, it can be seen from the data that Patoshi miners adjusted their speed between blocks to maintain an average level. When the number of blocks created by a Patoshi chain exceeds 0.6
When the average block time of the next Patoshi block decreases, the average block time of the next Patoshi block will decrease, and vice versa.
Satoshi wanted to maintain this average for two reasons: First, he believed that a 51% attack was the biggest threat to the growing network, and by keeping 60%
With enough processing power, he could prevent these attacks from happening while leaving enough blocks for others to mine. As more “honest” miners joined the network, a 51% attack became less and less likely, and Satoshi
Able to gradually scale down his mining activities. Second, Satoshi stated that the ideal block time is 10
By controlling enough processing power, when there is insufficient or excessive activity on the network, the block time can be artificially kept around this time. We speculate that Patoshi was created by at least 48
The network consisted of 10 computers, one for coordination and more on standby in case of attack, which explains the missing range of [10-18]. Once Satoshi thought the network was strong enough, he reduced
Patoshi’s block target of every 10 minutes gives others a better chance of mining a block.
Blocks mined every 10 minutes per Patoshi chain (over 20 blocks)
Knowing the changing nonce range allows us to attribute more blocks to Satoshi with higher certainty: out of the first 54.316 blocks mined, an estimated
22,503 blocks. Of these blocks, 50 blocks have had their coinbase transactions (or mining rewards) spent, and one of those blocks must have been a block where Satoshi gave Hal
Finney’s 10 BTC. 31 of the blocks that were spent are likely fake, meaning they are related to Patoshi
We are certain that 18 of the blocks spent belong to Satoshi, so the total amount spent by Satoshi is 907.
BTC (at the time these transactions took place, the price per BTC was less than $0.01), leaving 1,122,693 BTC unspent.
The goal of this research is not only to find out how much money was mined, but also to find out why Satoshi mined in this particular way. Did Satoshi stop mining after block 54.316?
Did the mining software get changed to become undetectable, or did Patoshi continue mining using publicly available mining software? We have no way of knowing.
Some anomalies were found in higher blocks, such as a disproportionately high proportion of non-ces ending in [0-9] after block 70.000, and a disproportionately high proportion of non-ces ending in [0-9] between blocks 109.500 and 109.500.
112.500, but it is now certain that the Patoshi miner
The timing of the shutdown, the mining behavior, the systematic reduction in mining speed, and the lack of payouts all strongly suggest that Satoshi only wanted to grow and protect the young network.
The bitcoins mined by Patoshi may have been a byproduct of these efforts, and the remaining bitcoins are unlikely to be spent, although the question is whether Satoshi
Why not just burn them in this case? Our findings do not rule out the possibility that Satoshi was also running mining machines using publicly released software, even if only for testing purposes, and we believe that at least one non-
The Patoshi pattern also most likely belongs to Satoshi.
Note: According to our research, the following blocks have been
Mining and use: 9, 286, 688, 877, 1.760, 2.459, 2.485, 3.479, 5.326, 9.443, 9.925, 10.645, 14.450, 15.625, 15.817, 19.093, 23.014, 28.593
and 29.097.