The miner earned 50 bitcoin in April 2010 during the network’s early weeks and has held on to the asset so far.
Craig Wright to Face New Allegations of Forgery in COPA Trial Over Ontier Emails
He’s set to retake the stand on Friday to defend allegations initially made by his former lawyers that their correspondence submitted to court had been doctored.
Satoshi Anticipated Bitcoin Energy Debate in Email Thread With Early Collaborators
Satoshi saw an irony in the debate between economic conservation and conservation in an email thread with an early collaborator Martii ‘Sirius’ Malmi.
The Protocol: Bitcoin’s OP_CAT, Fake Ethereum Tokens, Starknet’s Airdrop
CoinDesk’s Jamie Crawley takes a look at the suddenly-high-profile proposal to revive Bitcoin’s historic “OP_CAT” function as a way of enabling more development on the oldest blockchain. PLUS: the unofficial “ERC-404” tokens driving up fees on Ethereum and highlights from our Protocol Village column over the past week.
Craig Wright Cross Examination Ends as COPA Trial Closes for Day
Wright who has been battling it out against COPA counsel in a trial for the past couple of days is trying to prove he is Satoshi Nakamoto.
Bitcoin 2008: Satoshi Nakamoto’s Busy Few Months Building the Revolutionary ‘P2P Electronic Cash’ Network
MicroStrategy’s Saylor fuses work email address with Bitcoin Lightning
Fans of the Bitcoin bull have been transferring him 21 Satoshis as a way to test out the feature.
Hidden Inside MacOS, the Bitcoin Whitepaper
Satoshi’s vision exists in every version of MacOS from Mojave to Ventura, but is not in the older High Sierra (10.13) or earlier.
The world’s first and oldest Bitcoin mining pool has mined nearly 1.3 million BTC since inception
Over 15,000 users, mainly small individual miners, are part of the still-growing Braiins (Slush Pool) ecosystem.
Only 10% of the Bitcoin supply left to mine
Fresh data shows 90% of the total Bitcoin supply is mined, but the rest will take a little longer to produce.
“Time To Switch To Satoshis” Says Galaxy Digital CEO Novogratz
It’s been a busy few months for crypto financial services firm Galaxy Digital. From sales to satoshis, the company has been making headlines. Galaxy Digital is fresh off the heels of acquiring digital assets infrastructure firm BitGo, and is one of four firms to lead a recent Canadian petition for an Ethereum ETF.
Now, Galaxy Digital CEO Mike Novogratz posted over the weekend on a Twitter post that he’d like to see more evolution in the crypto landscape, particularly with how we view Bitcoin on exchanges.
Seeing Satoshis
In his tweet, Novogratz suggests that consumer perception around the dollar value of Bitcoin can be better addressed by reducing units to satoshis (SATS), rather than full units of BTC. No major cryptocurrency exchanges do so, leaving Novogratz to ask, “which exchange will be the first to quote in SATS?”, while tagging some of crypto’s biggest executives in the industry.
Square’s Cash App added SATS last year, but no crypto-dedicated exchanges have followed. Additionally, crypto tracking website CryptoMarketCap tracks SATS, which are valued at 0.00000001 BTC.
Related Reading | Citi Just Realized It Can’t Beat Bitcoin, Considers Joining Instead
Is It Psychological?
The main premise is of course, the psychological aspect around having a more affordable unit to build an individual’s cost basis of Bitcoin around. Billionaire and crypto-enthusiast Mark Cuban explained the hype around Dogecoin around this exact concept, stating that “it’s hard for someone with $100 to get excited about owning a fraction of BTC or ETH. It’s easy with Doge”. Blockchain Research Lab co-founder Ingo Fiedler expressed similar sentiments, stating that “while it makes financially no difference to change the denomination from BTC to Sats, it has a psychological impact that likely helps further adoption”.
Despite this barrier, recent analysis from Glassnode shows that addresses holding less than 1 BTC make up over 5% of the crypto’s circulating supply. Companies like Lolli have aimed at normalizing this unit of value, by way of rewarding consumers with small amounts of satoshis as they spend money with partnered companies.
Alternatively, Kraken CEO Jesse Powell explains that it is not necessarily that simple: “Have to think through the UX, discoverability. 99% of new users coming in will be looking for bitcoin/BTC and have no idea what a satoshi/sat is. Don’t want to confuse them.”
BTC has seen stable and steady growth to start the year. | Source: BTC-USD on TradingView.com
Legacy Of The Lexicon
Satoshis come from mysterious BTC creator Satoshi Nakamoto, who has been the center of speculation around the pioneering cryptocurrency since it’s 2008 whitepaper. It was just over a decade ago that Nakamoto sent his final emails to developers stating that he was moving on to other projects. A number of individuals have been identified as potential pioneers that fit the bill of Nakamoto, but none have led to a definitive answer.
Continuous questions remain rooted in the name: who is Satoshi Nakamoto? Does institutional adoption of BTC interfere with Satoshi’s desire of removing a middleman? It was just last month that the U.S. state of Louisiana passed a resolution to commend Bitcoin’s success as becoming the first decentralized trillion dollar asset, but questions still loom around the legendary Bitcoin developer.
Nowadays, the questions reach beyond the origination of the Satoshi Nakamoto moniker, and into the realm of how should we be measuring our crypto holdings.
Related Reading | Bitcoin Moves Sideways, But Looks Set For A Moon Week
Featured image from Pixabay, Charts from TradingView.com
‘Satoshi’ Enters the Oxford English Dictionary
Satoshi, noun, “The smallest monetary unit in the bitcoin digital payment system, equal to one hundred millionth of a bitcoin,” enters the OED.
Wright Has Not Disclosed Full Bitcoin Holdings Per Court Order, Says Plaintiff’s Representation
Self-professed bitcoin founder Wright may be held in contempt of court.
The Copyright for the Satoshi White Paper is Already Causing Trouble
Craig Wright’s copyright registration of the Satoshi White Paper is causing some online services to censor the document.
‘Everyone Can Be Satoshi’: Wei Liu Breaks Silence on Bid to Contest Craig Wright’s Bitcoin Copyright
Crypto trader Wei Liu says he registered a copyright on the Satoshi White Paper to poke fun at what he calls the “cult of CSW.”
US Copyright Office Says It Does Not ‘Recognize’ Craig Wright as Satoshi
No, the U.S. government didn’t officially recognize Craig Wright as Satoshi.
Craig Wright Is Playing Three-Dimensional Checkers
Craig Wrights efforts to copyright the Bitcoin archives are genius in a very special way.
Craig Wright Attempts to Copyright the Satoshi White Paper and Bitcoin Code
Craig Wright has filed copyright registrations for the original Satoshi white paper and bitcoin code with the U.S. Copyright Office.
Craig Wright’s Fight With a Cartoon Bitcoin Astronaut Cat Explained
It’s Satoshi claimant Craig Wright vs the bitcoin community, with accusations of fraud and defamation flying between them.
‘Satoshi’s Treasure’ Is a Global Puzzle With a $1 Million Bitcoin Prize
This treasure hunt is like a bitcoin version of “Ready Player One,” with the first clues released via Blockstream’s satellite.