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Home Markets Cryptos

Satoshi Nakamoto highly unlikely to spend his 1.1 million BTC

Olumide Adesina by Olumide Adesina
June 6, 2020
in Cryptos, Markets, Spotlight
Cryptocurrencies, Meet the cryptocurrency catching the world’s attention, Theta Fuel gains 630% in 5 days., U.S regulator invites Banking and Crypto industry leaders for partnership, 3 Crypto Exchanges Control About 14.3%, Circulating BTC Supply. 
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The Patoshi Pattern exposes the privacy flaws of an earlier protocol, v.01, to show evidence of blocks designed by Satoshi Nakamoto.  

According to Patoshi Pattern researcher, Sergio Demian Lerner, Bitcoin’s creator is highly unlikely to use his BTC, which has remained dormant since 2009, since the start of the flagship cryptocurrency. 

Sergio Demian said: 

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“Assuming Satoshi is Patoshi, I believe, based on the history of Satoshi coins, that Satoshi won’t use his coins ever. Therefore, I think that there couldn’t be a fairer and a more philanthropic way for Bitcoin to be born.” 

READ MORE: The odds against Bitcoin- Goldman Sachs

What you need to know about Satoshi Nakamoto: Bitcoin was created in 2008 by an unidentified individual or group using the name Satoshi Nakamoto, in 2009. The source code was released as an open-source code. The digital coin (BTC) is created as a reward for a process known as mining. 

Last month, Bitcoin investors and traders invoked the Patoshi Pattern concept, to attribute 50 BTC mined during the early days of Bitcoin which suddenly moved last month, to the anonymous founder of the cryptocurrency.  

Sergio Demian Lerner downplayed such a hypothesis, explaining that the block responsible for the 50 BTC fell outside blocks mined using the Patoshi Pattern. 

The Patoshi Pattern depends on the assumption that Satoshi Nakamoto mined during the start of Bitcoin to confirm his concepts, and that he mined using v.01 of the Bitcoin Code.  


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Tags: BitcoinBusiness NewsCryptoccurencyPatoshi PatternSatoshi NakamotoSergio Demian Lerner
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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