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The BITCOIN Unsolved Mystery | Satoshi Nakamoto Enigma | Cryptocurrency | ENDEVR Explains - YouTube
Channel: ENDEVR
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锘縊n October 31st, 2008, a user of a cryptography聽
mailing list published this message online.聽聽
[8]
The list was on a service hosted by聽
metzdown.com and run by cypherpunks,聽聽
[13]
an organized group of digital privacy activists.聽
It was 2:10 pm on the east coast of the United聽聽
[19]
States when members of the mailing received聽
the message that contained the Bitcoin paper.聽聽
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Satoshi Nakamoto was the name of the聽
author and the paper detailed a new聽聽
[27]
peer-to-peer electronic cash system,聽
with no trusted third party.
聽
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Three days later he mailed to the聽
list again. And again two days later.聽聽
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On January 3rd, 2009, he released the first聽
version of the Bitcoin software on its own domain.聽聽
[42]
To register the Bitcoin.org he used Tor, an online聽
track-covering tool. Nakamoto himself mined the聽聽
[49]
first 50 bitcoins on the same day. Between 2009聽
and 2010, he wrote hundreds of posts on the forum,聽聽
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mainly talking with other users about聽
how to improve the code of the software.聽聽
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He never shared any personal details. And then, in聽
April 2011, he sent the last note, saying he had聽聽
[67]
to move on to other things . He never communicated聽
with the members of the mailing list again.聽聽
[72]
To this day, he has yet to be identified聽
and his true name remains unknown.
聽
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What Nakamoto created was not a new idea. The聽
same Cypherpunks that were part of the mailing聽聽
[92]
list had been working on creating virtual cash聽
since the 90s. Every effort had so far failed.聽聽
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But this time was going to be different. The聽
main challenge of a digital currency was the聽聽
[103]
so-called double-spending problem. Translated聽
into layman's terms, it means: if the currency聽聽
[108]
is just online information, not physical like聽
paper and metal coins, nothing prevents people聽聽
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from copying and pasting a code and spending as聽
much as they want. The system Nakamoto created聽聽
[119]
had a solution for that. And that was one of聽
the reasons why it was such a game-changer.
聽
[124]
Nakamoto's disappearance was followed by a lot of聽
conspiracy theories. Before the launch of bitcoin,聽聽
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there was no record of any coder with that聽
name. By the time he went AWOL, he had an聽聽
[134]
online profile that said he lived in Japan. But聽
his email address was from a free German service.聽聽
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Meanwhile, Google searches for his name聽
turned up no relevant information.
聽
[145]
For fans, he was quickly elevated to genius聽
status, changing the world forever. There聽聽
[150]
were t-shirts with his name, mang谩s and聽
a base of loyalists. For the critics,聽聽
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his mysterious disappearance cast a veil of聽
suspicion over what he created [10]. Some even聽聽
[160]
questioned if it was all a big pyramid聽
scheme that rewards early adopters.聽聽
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Is Sakamoto now sitting at the top of all his聽
early mined tokens and laughing at us all?
聽
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Since his disappearance, his real identity has聽
been an object of speculation and investigations.聽聽
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Article after article, book after book, all聽
suspects fell one by one. Some began to suspect聽聽
[179]
that he was working for the CIA. Others believe聽
that he disappeared due to safety concerns.聽聽
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An Argentinian researcher calculated that Nakamoto聽
probably collected one million bitcoin during the聽聽
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first year. This could explain his disappearance聽
as it would make him a billionaire and a target .聽聽
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There are even websites calculating when Satoshi聽
will become the richest person in the world. If聽聽
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he exists and is just one person, of course.
Conspiracies aside, some facts surround the mystic聽聽
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figure. The Bitcoin system is so complex that聽
some believe it could not have been developed聽聽
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by only one person, making it probable聽
that it was a group of people.
聽
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A coder has compiled all Nakamoto's messages on聽
the mailing group and found that he always wrote聽聽
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between 5 am and 11 am GMT. This is the equivalent聽
of midnight to 6 am on the US east coast. Assuming聽聽
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that he sleeps on a normal pattern, it would make聽
sense that he is or was in the United States.聽聽
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Other clues suggest that he was British. His聽
forum posts and his comments always used spelling聽聽
[237]
like optimize with S and colour with OU.
The media has extensively investigated who is聽聽
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behind the name. So far, unsuccessfully. Nathaniel聽
Popper, New York Times journalist, investigated聽聽
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who was behind the name. Although not able to聽
find the real Nakamoto, he collected evidence聽聽
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that points to an American of Hungarian descent聽
named Nick Szabo. The man denied the information,聽聽
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but the investigation showed that he was involved聽
in a previous cryptocurrency project called bit聽聽
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gold. He was also active among the cypherpunks.聽
In 2014, researchers of Aston University in聽聽
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England found uncanny similarities between聽
his writings and the text of Nakamoto.
聽
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Another suspect was Hal Finney, who died in 2014聽
and was the recipient of the first-ever conducted聽聽
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transaction. Nakamoto was the sender. Finney聽
was an expert in cryptography, an experienced聽聽
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programmer and also part of the cypherpunks. After聽
his death, his body was not buried or cremated. He聽聽
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was cryogenically frozen at a facility in Arizona聽
in the hopes of someday being resuscitated.聽聽
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He also denied being Nakamoto in the past.
One person came forward, publicly claiming to聽聽
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be Nakamoto. Craig Wright, an Australian Computer聽
scientist, invited the press to witness him using聽聽
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cryptographic keys that belonged to Nakamoto.聽
He did not convince anyone that he was who he聽聽
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was claiming to be and later denied the whole聽
story after an online article suggested he might聽聽
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face arrest for enabling terrorism if true.
There are different theories about why Sakamoto聽聽
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disappeared. Safety concerns and risk of聽
arrest aside, some believe that it was聽聽
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a matter of principle, to make the point聽
of a decentralized currency clear.
聽
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For bitcoin enthusiasts, publicly known聽
or not, he is still the hero of our time.聽聽
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The man who created the revolutionary聽
tool that will reshape countries,聽聽
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governments and our lives. And although Nakamoto鈥檚聽
ideas were groundbreaking, the system developed by聽聽
[350]
him doesn鈥檛 exist anymore. The current version of聽
bitcoin has been improved and changed many times聽聽
[355]
by a group of publicly known tech developers with聽
nothing to hide. The truth is, right now, finding聽聽
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his identity seems irrelevant and will have no聽
impact on the cryptocurrency鈥檚 future.
聽
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So that鈥檚 it for this video: the mysteries behind聽
bitcoins creation. We hope you liked learning聽聽
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more about the origins of the cryptocurrency聽
phenomenon. Since you made it to the end,聽聽
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click around and watch more. We hope you聽
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