Satoshi Nakamoto mined around 1,125,150 Bitcoin in the early days, according to a new on-chain analysis released by the Whale Alert. Based on the current market prices, the value of this BTC stash is an estimated $10.9 billion.
Whale Alert detailed, in a Medium post, how a miner dubbed ‘Patoshi,’ who is believed to be Satoshi, acquired this number of Bitcoins within a year given the mining activity could only be tracked up to May 2010.
According to Whale Alert, the anonymous Bitcoin network creator mined such a significant number of coins to prevent a 51% attack, which at the time was likely. The analytics firm further pegs its findings on research by Sergio Demian Lerner back in 2013, which was the first to coin the term ‘Patoshi’.
Lerner’s findings revealed that Satoshi had mined close to 1 million BTC, relying on a technique dubbed ”extra nonce’. Notably, this technique is visible in the early pattern of BTC mining and shows the first transaction link which saw Hal Finney receive the first coins in this network.
The ‘Patoshi Pattern’
Lerner went on to define the probable Satoshi mining as the ‘Patoshi Pattern.’ Whale Alert researchers have since been able to isolate most of the nonce patterns attributed to the Patoshi set, hence the latest Satoshi BTC stack update.
Based on the analysis, most of the early BTC mining was done by one individual whose mining software was more advanced than the industry standard back then. The chart below gives an impression of this situation as the straight lines represent normal mining while the ‘saw-like’ lines paint a picture of the Patoshi pattern:
Source; Whale Alert
Whale Alert also learned from this pattern that Patoshi made adjustments on the block time to maintain an average of 0.6 blocks in every 10 minutes. He also kept a steady hashrate by controlling 60% of the processing power in efforts to prevent a 51% attack.
This was, however, reduced to 1 block in 10 minutes as more miners joined the BTC network in order to give them an opportunity to mine as well. As per Whale Alert’s findings, 48 computers supported this operation with one of these designed to coordinate the entire process.
Will Satoshi Liquidate the position?
Most analysts have said that Satoshi stopped mining at block 54,316, with 22,503 being mined by the Bitcoin creator. While this may not be the true position, there seems to be a consensus on the fact that Satoshi indeed holds a significant number of Bitcoins.
That said, the possibility of liquidation cannot be ruled out given these coins were not burned and have been in recent projects borrowing from Bitcoin’s decentralized architecture. Whale Alert now suggests that it unlikely that Satoshi will sell his Bitcoins since the initial accumulation was solely for network fundamentals and not financial gain:
“The timing of the shutdown, the mining behavior, the systematic decrease in mining speed, and the lack of spending strongly suggest that Satoshi was only interested in growing and protecting the young network. The bitcoin mined by Patoshi was possibly a mere byproduct of these efforts, and it is unlikely that the remainder will ever be spent, although the question remains why Satoshi didn’t simply burn them in this case.”
Craig Wright, the self-proclaimed Satoshi Nakamoto — the pseudonymous creator of Bitcoin is now claiming that he was the hacker of bitcoin exchange Mt. Gox in 2011, which resulted in the loss of 79,956 BTC, today worth over $750 million.
A letter sent by Wright’s law firm SCA Ontier to Blockstream on June 12, 2020, alleges that he has control over the two mentioned bitcoin addresses. One of them is the one that received the stolen BTC from Mt.Gox.
“Just so we’re clear, Craig Wright has just openly admitted (via his lawyers) to be the guy that stole 80k BTC from Mtgox. The screenshots below show the court documents indicating the “1Feex” address is where the stolen Mtgox funds were sent,” said Monero developer Riccardo Spagni.
Mt. Gox CEO Mark Karpeles also confirmed this. Recently, Japan’s high court upheld a lower court’s decision that he was guilty of manipulating electronic data in this hack but not embezzlement which he called “unfortunate.”
“The 1Feex address contains ~80k BTC stolen from MtGox in March 2011. Craig Wright is claiming to have been in control of this address until recently, admitting legal liability for damages and interest?” said Kareples.
The 1Feex address contains ~80k BTC stolen from MtGox in March 2011. Craig Wright is claiming to have been in control of this address until recently, admitting legal liability for damages and interest?https://t.co/vWGF871c16
The bitcoin address contains 79,956.55 BTC which are currently unspent. This is not even the first time that Craig tried to claim the Mt.Gox hack addresses as his own. Back in 2018, bitcoin security firm Wizsec debunked it in its report “Kleiman v Craig Wright: The bitcoins that never were.”
According to Wright’s lawyer’s letter, the encrypted file and related information of these addresses were stolen during a hack on Wright’s computer in February 2020.
And they want Blockstream “responsible for the Bitcoin Core blockchain” to do something about it because they “have duties in relation to transactions on that blockchain in circumstances where you have notice of the interests involved, including in particular avoiding illegitimate transactions being entered on the blockchain.”
The famous “one million Bitcoin” case between self-proclaimed Satoshi Nakamoto, Craig Wright, and Ira Kleiman, brother to deceased, Dave Kleiman, is finally set for trial starting July 6.
However, the court is extending the deadline till July 3rd, 2020 for the parties to resolve their claims and present the resolution to court.
The long-running battle between Craig Wright and Kleiman’s estate is taking a swift turn to the courts after a two-year battle of the courts bore no resolutions.
According to the latter, Dave and Craig mined together a stash worth 1 million BTC (~$9 billion) and wished Craig, who has previously admitted to holding the private keys to this mega stash, to relinquish half the BTC the two mined.
However, Craig has come out strongly denying the claims; stating that he mined the whole stash of BTC alone.
On May 1, 2020, U.S Southern District of Florida judge, Reinhart Bloom, declared the trial date is set for July 6, with both legal teams announcing their readiness in participating in the trial.
The set trial will be held during the Court’s two-week trial calendar beginning on July 6, 2020, at 9:00 a.m. at the United States Courthouse, 400 North Miami, Avenue, Courtroom 10-2, Miami, Florida.
Dr Wright’s attorney, Andres Rivero, argues that his client is eager to prove in court his BTC stake.
Rivero further claimed the plaintiffs must be able to prove their 50% stake claim, given Dave and Craig were just friends, which did not entitle any case of sharing the mined BTC. He further said,
“It’s always possible for the cases to be delayed, they could be motions, more requests by the plaintiffs […] But we have opposed all the delays and we’ve always wanted to go to trial.”
A source from Kleiman’s legal team also showed their readiness in presenting evidence and witnesses in court come July 6, brushing off the claims that they were slowing down the process as “absurd.”
The statement from Roche Cyrulnik Freedman LLP, the firm representing Kleiman’s estate reads:
“Any comment that Plaintiffs are responsible for any delays to the trial date is absurd. As Judge Bloom found on January 10, 2020, Craig’s ‘antics and conduct delayed and obstructed the discovery process of this case, wasted valuable time and resources […] and prevented the Plaintiff from obtaining evidence.”
Despite the case moving onto a court date, Craig has yet to provide proof on the claimed 1.1 million BTC coins.
Earlier in the year, reports that the Tulip Trust documents containing the private key to the stash would arrive in a bounded courier never materialized. This led to Craig’s attorneys claiming he does not own the private keys to the coins.
The mining of block #630,000 on the Bitcoin Satoshi Vision network, truncated to Bitcoin SV, on April 10th 0048 hours GMT, effectively cut the supply rate of the token by half. A miner mining any block from the halving time will receive 6.25 BSV – a fact that is affecting the overall state of mining on the network as miners escape to the more profitable Bitcoin blockchain.
BSV completes halving, miners in limbo
There has been a general consensus a halving is healthy for asset prices. This because of the assumption that reducing the reward would lead to a sense of scarcity for the asset. That being so, the rewards for mining each block are expected to drop by half as predicted. From 12.5BSV to 6.25BSV.
With the halving, the new daily output of BSV blocks jumps to 900. This means all of the current miners are competing for the same 900 blocks daily. At current prices, this would amount to $200k per day possible.
BSV currently trades at $191, a huge 12% dip from intraday highs shortly before the halving happened. This has raised the fears across the community and miners who have seen their profits cut by more than half –enticing most to switch coins or effectively shut down their miners.
According to Blockchair’s Bitcoin SV explorer, in the past 12 hours since the halving, only 24 blocks have been mined – a huge disparity from at least 72 blocks that should be mined. Currently its 70% more profitable to mine BTC than BSV.
Bitcoin Cash also halved completed halving on Wednesday
Notably, Bitcoin Cash (BCH) also underwent the halving event on Wednesday triggering a similar reaction from the miners and the market after the 630000 block was mined by Antpool. Their transaction per second rate tumbled from 116tps to 1.1tps. The mining profitability post halving also dipped to over 80% that of Bitcoin and with the mining difficulty not dropping led to a mass exodus of miners who are mainly profit-motivated.
This has spooked the community as consequently, the hash rate has dropped raising security concerns. A significant exodus of miners would leave the network vulnerable to a 51% attack meaning it wouldn’t be impossible for rogue actors to reach the 50% threshold required to fully control the network.
Bitcoin halving is expected to occur in 34 days from this writing May 13th 2020.
Hal Finney received the first Bitcoin in a transaction from Satoshi Nakamoto himself. Jack Dorsey, who is in charge of Twitter, is a massive fan of Bitcoin.
Twitter is a massive social media platform, allowing millions of users to sign up for accounts to post to their friends, family, and other followers. Recently, the platform announced that all accounts that had no activity for at least six months would be purged, allowing usernames to be freed up that have been taken by inactive bots and other former users.
In this massive purge, it looks like there will be millions of accounts deleted, and one of the many accounts that stands to be lost is that of Hal Finney, a famous cryptographer that received the first Bitcoin from creator Satoshi Nakamoto. Finney passed away in 2014, though he continued to be involved with Bitcoin discussions throughout his long battle with ALS. His family chose to use the donations from the public on the preservation of his body by cryogenically freezing it.
Considering the history marked by Finney, it is possible that the Twitter CEO will make an exception in this massive cleanup. After all, Dorsey has continually been a proponent of Bitcoin who even developed his own team to work on contributing to the ecosystem of the coin. Furthermore, he purchases about $10,000 in Bitcoin nearly every week, and even believes that Bitcoin will end up being the currency of the world, so it would make sense for him to preserve these momentous tweets.
Satoshi Nakamoto, a pseudonym for the creator of Bitcoin, decided there will only be 21 million BTC coins ever to be mined. In an email published on Satoshi Nakamoto Institute addressed to Mike Hearn on why Satoshi selected 21 million as the cap, the unknown figure said the number is “an educated guess”. However, a number of investors and researchers have come forward to find a logical explanation as to why Satoshi chose that specific number.
The 21 million BTC Capped Supply
Bitcoin (BTC) capped supply at 21 million is both symbolic and calculated as explained by Sasha Fleyshman, a traders and analyst at Arca Traders, in a thread of tweets sent out on Aug 31. Well, as is with most research, there are general assumptions made in the theory proposed by Fleyshman.
Note: The average production time of a block is 10 minutes, but the difficulty adjustment, which happens every 2016 blocks (or 14 days) causes a deviation each side of the block producing time average.
A Timely Calculation
Bitcoin is math. Sasha calculates the 21 million cap as a factor of the blocks produced every hour, the halving effects on BTC rewards and the number of blocks each halving period.
Source: Sasha Fleyshman
As seen in the image above, the summation of the halving rewards till 2140 –the expected mining end date – that started off at 50BTC reward, then 25, then 12.5 etc. sums up to 100 (well tending to 100). Taking this number and multiplying it by the number of Bitcoin blocks mined before the halving of the BTC rewards – 210,000 BTC – you get 21 million BTC.
Sasha urges the Bitcoin community to continue learning more about Satoshi’s ideas on why he selected the number. He wrote on Twitter,
“Now, pulling on this string opens up a new line of questioning, of which I have no answer (as of yet); just theories. I think it is very important to question what you do not understand with #Bitcoin – the answer is not as important as the thought process.”
The controversial duo responsible for Bitcoin Satoshi Vision (BSV) has come under the fire of the crypto community once more. Calvin Ayre has claimed that his business partner Craig Wright has been proved in court to be Satoshi Nakamoto, the creator of Bitcoin. He lied.
This is just the most recent of the duo’s controversies. Craig has been on the spotlight since he affirmed that he was the creator of Bitcoin, which almost no one believed. Ayre is somewhat less controversial, but this time he made a mistake when he claimed that the judge ruled that Craig was Satoshi.
they started promoting the book that will have the back ground of Craig creating #Bitcoin. Its nice timing to be out at the same time as Craig gets the Satoshi coins out of tulip trust. Also good timing with Judge just ruling Craig is Satoshi.https://t.co/55vZgvDDUk
According to him, during the case in which Craig is being accused of stealing $10 billion worth of BTC from his late partner, the judge understood that Craig invented BTC. However, the judge has absolutely not said that in any moment of the judgment.
Crypto Twitter promptly attacked Ayre by affirming that this was not the truth. At the moment, it is unknown how Ayre came to this conclusion despite all the proof that this is not what happened.
The Bitcoin SV Fiasco
The reputation of both Ayre and Wright took a hit last year when they decided to hard fork from Bitcoin Cash (BCH) back in November and create their own token. BSV had a pretty rocky history since then and several problems.
At the moment, the token is considerably less valuable than BCH. BCH is the 4th largest token by market cap with the price of $294 per token and BSV is only the 9th largest one, with the price of $126 USD.
It seems like a new unknown individual has proclaimed themselves as the creator of Bitcoin [BTC], Satoshi Nakamoto. Interestingly, the official reveal is expected to be made on Sunday August 18 at 4:00 PM EDT, where they plan to expose the reason for not having moved their 980,000 Bitcoins.
The blockchain company that shared “My Reveal” date is Satoshi Nakamoto Renaissance Holdings. Apparently, spokesperson for the proclaimed, real Satoshi, Ivy McLemore, spoke with news outlets and shared that the “break in his silence” will be done in three parts, adding that
“the truth will be known.”
So what types of information will be disclosed in the reveal? In addition to the unmoved BTCs, the individual plans to share more about themselves including their real name, where they were born, educational and professional background and the “rebirth of BTC,” with the latter having to do with a project called ‘Tabula Rasa’ – a clean-slate version of BTC.
Obviously, consumers can expect to learn more about the bitcoin creation process, with emphasis placed on the “Chaldean numerology” and the contributions made by cyphers and encryption.
The three parts will be delivered one after the other, that is, once the first has been completed, the second and third have been scheduled for the same times but on August 19 and 20 respectively.
Given said shocking claims, people are bound to naturally doubt its likes. An example of this is Litecoin’s Charlie Lee, as reported by Daily Hodl, who argued that if the real Satoshi really planned for a reveal, then he would have done so by “sign[ing] a message with the genesis key,” adding that,
“anything short of that is most likely fraudulent.”
August 18 was chosen as a symbolic move, as this was the initial date back in 2008 when bitcoin.org was registered. The revelation would commence as a way to celebrate the eleventh anniversary of bitcoin.org.
So the question is… With Satoshi reveal himself (not likely) or is this some big PR stunt by a blockchain company?
Bitcoin was created with a fixed supply. It was, according to Satoshi Nakamoto, an anti-inflation measure. This way, there would be no mechanism to keep introducing more coins in the market. Ripple has followed the opposite route. The XRP market has innumerous tokens locked and Ripple can toss them into the market at any time.
This prompts the prices of the token to remain stable or low because there is never a shortage of tokens since they are constantly being released. Ripple works just a like Central Bank in this regard.
Now, a trader called Crypto Bitlord has started a petition so that Ripple should burn half of its XRP tokens in order to boost prices. With the supply reduced, the prices would rise. The main argument of the petition is that Ripple keeps dumping XRP on the market and it affects the price. This is unfair because the company holds over 50% of the total tokens.
So far, the petition is only half successful and just has over 300 signatures, but the idea is at least interesting. It is a good idea?
To Burn Or Not To Burn
Ripple is probably not burning the tokens. It can gain a lot of money by actually selling the tokens and what will the company get by burning them? Nothing.
Unlike its so-called decentralized system, Ripple is a company. It looks for profit. Because of this, its major interest is catering to banks and other financial institutions that can use its projects, not only its community of investors. Traders will possibly get upset, but it does not seem that things will change anytime soon.
[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.
Satoshi Nakamoto – Allegedly Residing In Japan, United States And now Possibly Estonia, According to Research?
Estonia has cultivated a reputation as being a nation with a more positive approach towards innovative and disruptive technologies such as Blockchain. But with that in mind, there is something quite interesting about when exactly the small Baltic country first got involved with the technology – 2008.
For those savvier of what goes on in the crypto and blockchain world, you’ll know exactly what was first conjured up during this year – Bitcoin and the veritable birth of it and blockchain.
An Oddysey That Is Still Developing
Bitcoin, as some will already know, is not the first time the notion of virtual currency was proposed, but it was the first time that it came into being. The idea itself, having been around since the 1990s, being one of the concepts conjured up by the crytpo-anarchic minded academics and students, it has since become a broadly accepted concept – with blockchain technology as we know it now.
Having been formulated by the as yet mysterious and enigmatic Satoshi Nakamoto. It was only in 2018, that Justin Sabaje, a highly active Los Angeles lawyer, took it upon himself in order to dig into and finally [hopefully] uncover just who exactly this mysterious creator is. Just where his personal investigation brought him to was pretty unusual, at least compared to other theories out there – it brought him across oceans to Estonia.
Interestingly, while digging more into how exactly Estonia makes use of blockchain technology, there were a range of documents which detailed and listed the kind of blockchain it uses, just how it was built, and who was part of the team that allowed for it to finally be developed and launched.
According to the documentation, this is one of the first countries to actually implement a blockchain solution on a national level – having officially put it into action back in 2012. But what prevents us from just accepting that and moving on is the fact that, digging further into this documentation – it had actually begun testing back in 2008. So, naturally there were questions circulating as to why.
Sabaje himself was under the impression, according to some of the clues he had been following, that one of the people of interest was a man by the name of Helge Lipmaa, and went on to provide a good deal of evidence, albeit circumstantial in nature. An example of this circumstantial evidence included the interestingly identical displayed birthdays of both Satoshi Nakamoto and Lipmaa. Lipmaa had also been responsible for the applied process of timestamping digital documentation, and had actually placed a special emphasis on the concept of blockchain technology for his personal Doctoral thesis back during the 1990s.
Along with this thesis, Lipmaa had also been an active defender of it during his time at the University of Tartu in 1999. The range of evidence does continue on, with some of it concluding that, with the additionally interesting fact that his personal blog was shut down during 2008. At the same kind of time that Nakamoto’s blog became exceptionally active.
While the amount of evidence makes for an interesting case, Lipmaa categorically denies any kind of connection with Nakamoto. In addition to this overt denial, Lipmaa has since stated that he has, and wants nothing to do with the topic, thanks in large part to the onslaught of press enquiries he has received in the aftermath of it, due to Sabaje sending his findings to a series of major international news outlets.
While this investigation turned out to be a bit of a dead end for Sabaje, he was on the right kind of tracks in believing that it was Lipmaa, considering the fact that he and Ahto Buldas were both involved in research together on the concept of linked timestamping.
While there was a pretty interesting kind of paper trail heading over to the Baltic, there is a different theory being put out there by another writer. While they do go on to concede that it’s not a wholly unique theory to suggest that Satoshi may refer to a collective of people as opposed to just being one person.
But, what this writer did find when delving into the kind of history that the nation of Estonia has had with blockchain technology, along with the company that actually designed it, theories started to percolate as to whether this particular company was, in fact, Satoshi Nakamoto. And if not the company in its own right, then at least the founder of it.
The company itself, more commonly known as Guardtime, is one of the leading developers and providers of bespoke blockchain solutions for governments, as well as major corporations across the world. In the past, these have consisted of some pretty big names such as Verizon and Ericsson. When it comes to deals with international governments – these consist of the United States, China, the Netherlands, the United Kingdom, along with the Kingdom of Thailand.
Each of these countries has since signed deals in order to collaborate with Guard time in order to develop highly secure blockchain solutions for incredibly sensitive and major sectors of their governments.
Now For The Incredibly Interesting Part
If we actually take look through the news regarding Guardtime during the time frame of 2008 to 2012, one of the results comes up as showing that the company has been working with blockchain technology since 2008.
Users can find this particular screen and page using the Wayback Machine to find it, being dated December 28, 2007:
What we find out from some of these pages, according to the writer, is that the founder of Guardtime is a Mike Gault. So here is where it delves into a mission akin to Atlas Shrugged. And it turns out that you don’t exactly need to look that far – considering that he has an online bio on Crunchbase:
Mike Gault is the current CEO and Founder of Guardtime. Gault has led the company for the last 10 years (taking him to 2008/9 easily). Mike Gault started his career by conducting research while residing in Japan on the numerical analysis of quantum devices. From here, Gault then spent the next 10 years as a quant and derivatives trade with both Credit Suisse and Barclays Capital in Tokyo.
Mike Gault has since recieved a PH.D specializing in electronic engineering from the University of Wales, as well as an MBA from the Kellogg-HKUST Executive MBA Program.
Taking into consideration the fact that Gault, being a graduate of the University of Wales, while also being a long time resident of Japan would go a long way to explaining the various time-stamps for correspondence with Nakamoto, as well as the perfect command of English that he had.
“Nakamoto claimed that work on the writing of the code began in 2007. (Guardtime fired up its servers on 07/07/2007, as mentioned below)”
“He provided some commentary on banking and fractional-reserve banking. On his P2P Foundation profile as of 2012, Nakamoto claimed to be a 37-year-old male who lived in Japan, but some speculated he was unlikely to be Japanese due to his use of perfect English and his bitcoin software not being documented or labelled in Japanese.”
The evidence demonstrating his written sensibilities is shown through his correspondence through forum posts as well as personal emails to colleagues.
“Occasional British English spelling and terminology (such as the phrase “bloody hard”) in both source code comments and forum postings led to speculation that Nakamoto, or at least one individual in the consortium claiming to be him, was of Commonwealth origin.”
“Moreover, the first bitcoin block that could only be mined by Satoshi contains the encoded text The Times 03/Jan/2009 Chancellor on brink of second bailout for banks which implies that he was reading London’s The Times newspaper at the time of the inception of bitcoin.”
Along with this amount of evidence, there is also an accompanying publication based in Estonia, which comes emblazoned with a Google timestamp from December 18th, 2008, bus having been dated in August 2009 within the actual publication.
One of the other potential smoking guns that exists in the mind of this writer, demonstrates that Guardtime was officially established back in 2006. Was this a mistake? Or more proof?
“Japan Guard Time Incorporated –
Awarded Red Herring’s top 100 companies in Asia, Guardtime was founded in 2006 by two cryptologists named Mart Saarepera and Ahto Buldas as well as the current CEO – Mike Gault. GuardTime offers a scalable, highly available keyless signature service.”
“Whether data from around the world is stored on a disk, travels through a network, or is deposited on the cloud, you can prove the time, source and integrity of data throughput throughout the data lifecycle. We provide keyless signature services.”
There is yet more telling evidence and confusion within a particular written interview with Mike Gault from around 2012/2013. It contains a series of clues and demonstrates a range of connections both Gault and GuardTime itself have to the start of blockchain technology. These are some of the first paragraphs.
“In 1988, when the digital world was still in the distant future, two young students of cybernetics — Märt Saarepera and Ahto Buldas — met at the Tallinn University of Technology. Some years later, Saarepera travelled to Tokyo as an exchange student and dived into the world of applied information security and cryptography, publishing in various scientific journals. At the same time, Buldas stayed in Tallinn, working on digital signatures, the latest rage all around the world.”
“At the Tokyo Institute of Technology, Saarepera met two people who later became the key figures behind Guardtime. First he struck up a friendship with his course-mate Mike Gault, who was studying quantum transistors.He then found common ground with the well-known Japanese venture capitalist, technology guru, DJ and writer Joichi Ito.”
“Ito, the founder of the first ever Japanese website, invited Saarepera to work in his business incubator, Neoteny Labs. In the second half of the 1990s, Saarepera and Buldas made big plans. They discussed the nitty-gritty of the global information security system. They looked for development funds. They attracted the interest of the Estonians who had founded Skype and, together with some partners, Skype invested over 15 million Estonian kroons (about 560,000 euros) in the enterprise.”
The evidence continues.
“In autumn 2007, Ito visited Tallinn in order to formalise his personal investment in Guardtime. He visited the Skype team led by Toivo Annus, and in his subsequent blog post he had only good things to say about Estonians and the free wifi network of Tallinn. The quality of the latter supposedly surpassed the wifi of Frankfurt Airport but not that of Ito’s own Tokyo office. Guardtime received a new impetus.Ito became an important person in setting the direction of the company. On the magic date of 07.07.07 the clock of the servers was started and the history of Guardtime began. Now it was possible to check and issue signatures.”
Taking a Dive Into The Life Of Joichi Ito
The writer then dives into the like of the previously mentioned Joichi Ito. Ito himself was born in Japan, but has since lived in both Canada and the United States until he was 14, when he and his family returned to Japan. Even with these series of moves, Ito himself continued to attend an American-influenced School. While he lived in the United states, this would put his time cycle several hours behind that of Japan. When it comes to the hours of inactivity for Satoshi Nakamoto, his typical hours of inactivity and sleep would generally have to be between 1am and 7am.
This would make for a more than logical time frame for many of us to sleep during. It is also likely that Ito learned his fair share of British / English phrases while he attended his more internationalized school.
While also attending this international school, Io has since built up a reputation for himself as a well known and accomplished venture capitalist, being one of the early stage investors in companies like – 3Dsolve, Dopplr, Formlabs, SocialText, Flickr, Kongregate along with a wide array of other internet based companies.
According to a more publically facing profile of his, Ito is also known as:
“A vocal advocate of emergent democracy and the sharing economy, Ito is a doctoral candidate in Business Administration focusing on the sharing economy at the Graduate School of International Corporate Strategy, Hitotsubashi University. He is the author of Emergent Democracy. Ito is Senior Visiting Researcher of Keio Research Institute at SFC. In May 2011, it was announced that Ito’s company, Digital Garage, will provide PR, marketing, product marketing research and market research for Linkedin Japan.”
About Märt Saarepera And Ahto Buldas
According to sources, we have both Mart Saarepera and Ahto Buldas to thanks for the invention of the Hash Calendar
“Their design goal was to remove the need for a trusted third party i.e. that the time of the timestamp should be verifiable independently from the issuer of the timestamp.”
According to an article that was officially published by LHV within its dedicated forums in 2008, it was further noted.
“The technology magazine Red Herring put the world’s most innovative companies at the end of January. Of the 1,200 companies, hundreds of the most innovative in the world were selected after several rounds. In 2006, GuardTime, founded by Estonians Märt Saarepera and Ahto Buldas, won the Red Herring TOP 100 place.”
The LHV article goes into further detail.
“GuardTime is engaged in technology development, which is a timestamp or a digital fingerprint. Tracking devices and programs and technology developed by GuardTime can determine when files are actually created. GuardTime technology can be implemented by any authority that needs to prove when digital data was created. Thanks to the GuardTime team, Alex Vieux, head of Red Herring, said he was the best choice after the winners were announced.”
In addition to this information about the two founders. There is also an accompanying photo that is available to view via Flickr dated back in 2007 – showing Märt Saarepera standing in front of a white board which appears to have an outline of what we know as being a Merkle Tree – a layer solution for dealing with processing information at speed. It is also found that the photo itself appears to have been taken by Joichi Ito.
So what exactly does this mean? Could this forum post along with the photograph be some of the first pieces of evidence that we have of the team working to build the very first blockchain?
Ahto Buldas himself also took to the internet on 2007 in order to publish a paper which showcases the following:
“We prove in a non-black-box way that every bounded list and set commitment scheme is knowledge-binding. This is a new and rather strong security condition, which makes the security definitions for time-stamping much more natural compared to the previous definitions, which assume unpredictability of adversaries. As a direct consequence, list and set commitment schemes with partial opening property are sufficient for secure time-stamping if the number of elements has an explicit upper bound”
Buldas goes into further detail about commitment schemes as well as more information about cryptography.
“Commitment schemes are basic building blocks in numerous cryptographic protocols. The most important properties of commitment schemes are binding and hiding. A commitment is hiding if it reveals no information about the committed message and binding if it is impossible to change the committed message afterwards without detection.”
“However, Buldas et al  pointed out a flaw in the security proof of . By giving a carefully crafted oracle separation they showed that pure collision-resistance is insufficient to prove that the hash tree time-stamping schemes  are secure. In other words, either there are collision-resistant functions that are still insecure for time-stamping, or the security of time-stamping schemes follows from currently unknown complexity-theoretic results.”
When It Comes To Blockchain Technology – Surely This is an Outline?
Another piece of information that makes this investigation all the more interesting for the writer is the fact that there was an article dated last year on Issuu, which makes the argument that GuardTime was actually working on the concept and application of blockchain technology in a practical sense before Satoshi’s Bitcoin.
Through the use of the Wayback Machine, there were a large number of grants for research submitted to the Cybernetica organization. These consist of various research proposals such as – ‘Privacy Mining: Cryptographic Methods (ETF6848) which surfaced between 2006 and 2008, along with the 2003/2004 proposal ‘Cryptographic Methods to Ensure Consistency of Database Query Responses (ETF5568).
So, in summary, the writer had managed to find this information over a matter of hours. And while it is all based upon speculation, it’s fair to say that the researcher is onto something pretty profound here. The writer then goes on to explain why there are so many companies that invested into GuardTime’s application of blockchain technology with relative speed and ease, this would lead the company to become the leading face for governmental and business-facing blockchain applications in the world.
Maybe the reason we’re not getting so much in the way of information from this illustrious Satoshi Nakamoto is because he is compounded by some kind of business related of governmental non-disclosure agreement. To go even further, the writer muses that maybe this is also the reason why Satoshi’s wallet has not been touched since he first deposited the BTC into it – because it’s owned by a conjoint Estonian/Japanese industry agreement or their governments.
While these are certainly some plausible theories provided, the truth certainly remains to be seen, for now.