Topic: Why satoshi had one address per reward even though many people guess it is him. (Read 314 times)
October 30, 2022, 01:01:31 AM
I don't think Satoshi intended to confuse when creating multiple wallets, because he didn't even know for sure what his experiment would lead to. Well, at the very beginning, it was necessary to test the work of the blockchain and have several full nodes, the more the better, and it is impossible to say for sure that all the first addresses are related directly to the creator of bitcoin.
October 29, 2022, 04:33:07 PM
We know that many addresses are associated to Satoshi Nakamoto even though they are different.
Why did he choose different addresses despite the fact that many of his addresses are leaked?
I believe the reason why Satoshi used different addresses is mainly because he doesn't really want to be revealed to the public. The man is using different addresses to coincide with the miners from his time and even then these supposed "leaked" addresses aren't really confirmed to be his, just a hint that it could be someone who is connected to the man himself. Going back to my answer, he wants to be able to use his bitcoins still but is looking to find a way where it's gonna be hard to discern that it was him. Hence, he created multiple accounts all with bitcoins to spend. Why did he choose different addresses despite the fact that many of his addresses are leaked?
October 29, 2022, 03:37:13 PM
Perhaps he just stood by that principle: 1 address is good for 1 in and out transaction, hence why he opted to use a lot of different addresses that only contains 1 input and never spent again. He might have already anticipated that people will learn that these addresses all belong to him, and he wanted to set an example regarding change addresses.
But idk, all that we're saying here is just pure speculation at best--unless someone of us here is the real Satoshi discussing this while hidden in plain sight.
But idk, all that we're saying here is just pure speculation at best--unless someone of us here is the real Satoshi discussing this while hidden in plain sight.
October 29, 2022, 01:51:17 PM
but let me guess, probably he did this before the addresses got leaked, if this be true, then it certain he didnt know that those addresses will get leaked.
The addresses never leaked.Everything on bitcoin is public. Satoshi obviously knew that, since they designed the system. They would be fully aware that the very first blocks of bitcoin would send their coinbase reward to an address (actually a pubkey) which would be public and which would obviously be linked to them. The software at the time was designed to always send a coinbase transaction to a brand new address every time by default, so that's what it did. The question of which addresses actually belong to Satoshi came much later. Sure, you can be certain that block 0 is Satoshi, and you can be pretty certain that the next few dozens blocks were Satoshi too. But beyond that, it starts to become educated guesswork. Until someone comes out and either signs a message or moves coins from one of these early addresses, then we just don't know if it belongs to Satoshi or some other early miner.
A classic example is of Faketoshi who claimed a bunch of addresses as belonging to him, and then a signed message appeared a few days later from over a hundred of those addresses calling him a liar and a fraud.
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October 29, 2022, 12:24:20 PM
We know that many addresses are associated to Satoshi Nakamoto even though they are different.
Why did he choose different addresses despite the fact that many of his addresses are leaked?
we would never know except we meet satoshi and ask him or maybe he decides to come out and explain this...Why did he choose different addresses despite the fact that many of his addresses are leaked?
but let me guess, probably he did this before the addresses got leaked, if this be true, then it certain he didnt know that those addresses will get leaked.
Or maybe he know that the addresses leaked but still went ahead to use them, if this be the case, then maybe he did it for privacy reasons, atleast. its not the entire bitcoin community that knows the leaked addresses belonging to satoshi, so with this he did, the total amount of bitcoin he holds will be unknown to the part of this community who know nothing about his leaked addresses.
October 29, 2022, 08:54:18 AM
If we consider how many addresses were been generated from a single wallet we couldn't conclude on weather an address is leaked or not, moreso Satoshi is unpredictable to an extent that we can't link those addresses to directly belongs to him, online network is a public opinion and blockchain technology has made everything simple to clearly show everyone transactions linkages from each addresses connected.
October 29, 2022, 08:40:17 AM
I think that the topic is inaccurate, as we have not yet known who Satoshi is, and therefore the issue of specifying his addresses will be inaccurate.
The best we'll get are the addresses used by the Satoshi account in this forum, otherwise it's all speculation.
As for the reason, Satoshi is known to prefer privacy, and then the option to use the same address would be strange.
The best we'll get are the addresses used by the Satoshi account in this forum, otherwise it's all speculation.
As for the reason, Satoshi is known to prefer privacy, and then the option to use the same address would be strange.
October 29, 2022, 06:21:09 AM
The whole idea with Pseudo anonymity is to not re-use addresses that can be linked back to you, because you used it for several things. Satoshi wanted to promote the idea to use new addresses for everything you do, to protect your pseudo anonymity.
Satoshi was also experimenting a lot with his new "invention" ..so he mined lots of coins and moved it around to experiment with the transfer of tokens and simulated payments.
Satoshi was also experimenting a lot with his new "invention" ..so he mined lots of coins and moved it around to experiment with the transfer of tokens and simulated payments.
October 29, 2022, 06:01:12 AM
Why did he choose different addresses despite the fact that many of his addresses are leaked?
Satoshi covered this in the whitepaper:Quote from: https://bitcoin.org/bitcoin.pdf
As an additional firewall, a new key pair should be used for each transaction to keep them from being linked to a common owner.
In other words, don't reuse addresses.If Satoshi had sent every block reward they had earned to the same pubkey, then everyone would know exactly which coins belong to them and exact how much they owned. By using a different pubkey for every block reward, we can now only guess at which and how many coins Satoshi owns. For all we know, Satoshi could have spent some of their coins recently and everyone has just assumed it was some other early miner, since we don't know exactly which coins belong to Satoshi and which do not.
October 29, 2022, 02:00:17 AM
Googling Satoshi net worth, will give up an estimate of his worth. How this estimate is made then?
We do not have source to authenticate the information we see over net and they could probably put any amount based on their assumptions and it can't be right because you don't know him and his assets so how do you come up with any numbers? But most probably they are making calculations based on those 1M coins with the current price and that's satoshi networth at the time making him in top-100 in forbes basically which I think but as others said it's not correct. 
October 29, 2022, 01:25:18 AM
Why did he choose different addresses despite the fact that many of his addresses are leaked?
Googling Satoshi net worth, will give up an estimate of his worth. How this estimate is made then?
So basically you are making an assumption based on seeing a number on the internet. There is no addresses leaked, there is only a guesswork[1] that made an assumption that because of a certain characteristics in a portion of the mined blocks, they should be linked.It is worth noting that Hal Finney was at least one of the other people who mined some blocks at those times which is ignored in this guesswork.
[1] https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/
October 28, 2022, 09:26:45 AM
Googling Satoshi net worth, will give up an estimate of his worth. How this estimate is made then?
Okay, I have google searched it. Let me quote it:Satoshi Nakamoto's net worth is $22.4 billion.
We know that Satoshi mined the first bitcoin. He proved it by telling others in his email group that he would provide the following message in the genesis block and he did: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
How do we work out how rich Satoshi is?
In 2013, Sergio Demian Lerner, the designer of RSK, begun some detective work to find out just how much bitcoin Satoshi probably mined, and how much of it was still sitting in those wallets. The answer, which has been supported by several researchers since was… quite a lot, actually.
Sergio’s initial assumption was based on the logic that throughout almost all of 2009 the hashrate stayed at the low level of 7 million hashes per second. This seems consistent with the idea that a lone miner was the only one contributing to the network at that time.
To try and put into perspective how little hashpower 7 million hashes per second is, consider how much more computing power is now dedicated to the Bitcoin network. These days, miners contribute 1.2e+18 (that’s 12 million with another 12 0s on the end) hashes per second toward mining bitcoin.
Sergio also noted that this 7 million hashes per second was the same amount of hashrate in the first 14 days of Bitcoin’s life and he adds to the assumption that at this time Satoshi was surely the only miner.
We know that Satoshi mined the first bitcoin. He proved it by telling others in his email group that he would provide the following message in the genesis block and he did: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
How do we work out how rich Satoshi is?
In 2013, Sergio Demian Lerner, the designer of RSK, begun some detective work to find out just how much bitcoin Satoshi probably mined, and how much of it was still sitting in those wallets. The answer, which has been supported by several researchers since was… quite a lot, actually.
Sergio’s initial assumption was based on the logic that throughout almost all of 2009 the hashrate stayed at the low level of 7 million hashes per second. This seems consistent with the idea that a lone miner was the only one contributing to the network at that time.
To try and put into perspective how little hashpower 7 million hashes per second is, consider how much more computing power is now dedicated to the Bitcoin network. These days, miners contribute 1.2e+18 (that’s 12 million with another 12 0s on the end) hashes per second toward mining bitcoin.
Sergio also noted that this 7 million hashes per second was the same amount of hashrate in the first 14 days of Bitcoin’s life and he adds to the assumption that at this time Satoshi was surely the only miner.
It may be right, it may not be right, it is an assumption.
October 28, 2022, 09:19:23 AM
We know that many addresses are associated to Satoshi Nakamoto even though they are different.
The only address known to surely be owned by Satoshi is the one rewarded in genesis block, and that's because he's the only one who can have mined it. There's no evidence for others. Highly likely to have had more, but in a manner of speculation. Googling Satoshi net worth, will give up an estimate of his worth. How this estimate is made then?
Purely arbitrarily. How the hell do you expect one to know the net worth of Mr. nobody? October 28, 2022, 09:10:20 AM
We know that many addresses are associated to Satoshi Nakamoto even though they are different.
Why did he choose different addresses despite the fact that many of his addresses are leaked?
People only believe that they are Satoshi addresses because he first received the mining rewards, no address is leaked or linked. I think will can just conclude that we should not reuse an address for privacy reasons.Why did he choose different addresses despite the fact that many of his addresses are leaked?
Googling Satoshi net worth, will give up an estimate of his worth. How this estimate is made then?
October 28, 2022, 08:52:50 AM
We know that many addresses are associated to Satoshi Nakamoto even though they are different.
Why did he choose different addresses despite the fact that many of his addresses are leaked?
People only believe that they are Satoshi addresses because he first received the mining rewards, no address is leaked or linked. I think will can just conclude that we should not reuse an address for privacy reasons. Why did he choose different addresses despite the fact that many of his addresses are leaked?
October 28, 2022, 08:49:16 AM
We know that many addresses are associated to Satoshi Nakamoto even though they are different.
Why did he choose different addresses despite the fact that many of his addresses are leaked?
Why did he choose different addresses despite the fact that many of his addresses are leaked?
Those addresses were not leaked from second 1.
Even now, we don't know for sure about some of those addresses whether they were Satoshi's or other miners'.
And as said, he most probably wanted to do the things correctly from start, at least to give a good example.
However, we can try to assume this or that, we will not know for sure the whole background.
October 28, 2022, 08:35:50 AM
Perhaps they wanted to use some of their rewards and actually spend them, maybe they have with some too (would we even know?)
It might be more of a question of why they didn't change it back after setting the addresses to change for each new reward - perhaps it was testing a function in the wallet when it used to mine and they didn't bother changing it back. Either that or testing how many addresses the bitcoin client could actually handle over a course of time and transactions.
It also sets a bad example of reusing addresses and might have been suggestive to users to keep reusing theirs rather than shuffling around the addresses they normally use and refreshing new ones.
It might be more of a question of why they didn't change it back after setting the addresses to change for each new reward - perhaps it was testing a function in the wallet when it used to mine and they didn't bother changing it back. Either that or testing how many addresses the bitcoin client could actually handle over a course of time and transactions.
It also sets a bad example of reusing addresses and might have been suggestive to users to keep reusing theirs rather than shuffling around the addresses they normally use and refreshing new ones.
October 28, 2022, 08:29:01 AM
We know that many addresses are associated to Satoshi Nakamoto even though they are different.
Why did he choose different addresses despite the fact that many of his addresses are leaked?
Why did he choose different addresses despite the fact that many of his addresses are leaked?
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