Who Invented Bitcoins ?
Bitcoin is the first cryptocurrency ever released. However, Bitcoin is not the only thing released in 2008. The underlying system, the blockchain, was the truly revolutionary idea that changed the world. The blockchain is a decentralised ledger that relies on a network of computers to verify and register transactions. This system is entirely voluntary and rewarded by the release of Bitcoins every 10 minutes, approximately.
The person who invented Bitcoins is Satoshi Nakamoto. Mr Nakamoto published a paper on the Cryptography Mailing list in October 2008. In this paper, he described a peer-to-peer electronic cash system that was going to function under the name Bitcoin. How to Make Money by Fast Trading is seen as one of the major issues when it comes to deal in cryptocurrency. According to the Bitcoin Foundation, Nakamoto started to work on Bitcoin as early as 2007. And the original idea was to support multiple types of transactions. All this planning became a reality on January 2009, when the Bitcoin and the Blockchain were released to the public. Unfortunately, this is where the most of the solid information regarding Satoshi Nakamoto ends.
Nakamoto was not absent of ego. He created a unit of measurement after himself, the Satoshi. 1 BTC to Satoshi represents 100,000,000 Satoshi units. That is because the Satoshi is the smallest unit of Bitcoin. All Bitcoins are measured in Satoshi units, even though the people see BTC instead of Satoshi when dealing with the currency. Moreover, the man was also responsible for mining the first block. According to Genesis ledger, on January 3, 2009, there is a block that does not have any previous reference. This block also contains a different code and marks the beginning of Bitcoin mining. Furthermore, according to Genesis, Nakamoto’s wallet contains around 1 million BTC. That makes Satoshi Nakamoto net worth over 2.7 billion US dollars as of June 2017.
For all the wealth the man has, little is know about him. All that can be guaranteed is the following:
- He is 37 years old man living in Japan
- His English possess British spelling suggesting connection to the Commonwealth
- His code did not contain any Japanese labelling
This lack of proper information has made Satoshi Nakamoto paper be scrutinised to find the man behind the name. Four potential people have been identified as the creator of Bitcoin. Making money by fast trading is very easy all you need to know is how to deal with the cryptocurrencies. There are many benefits of using it as listed above.