Did Satoshi Nakamoto sell 50 Bitcoin? Wallet from 2009 discovered

  • WhaleAlert has identified a Bitcoin wallet that became active again for the first time in 11 years and has sent more than 50 Bitcoins.
  • Some industry experts are currently discussing a possible connection to Satoshi Nakamoto, the alleged founder of Bitcoin.

According to official historiography, Bitcoin was created in 2009 by an anonymous developer named Satoshi Nakamoto. Since then, there have been many rumors and speculations about who Satoshi Nakamoto really is and what his goal is with the creation of Bitcoin. Craig Wright, for example, claims to be Satoshi, but has never been able to prove it.

Until now the true identity of the pseudonym Satoshi Nakamoto could not be revealed, although the CIA claimed to have already deciphered the mystery of the legend of the BTC founder in 2018. Recent discoveries have identified a transaction from a wallet that could belong to Satoshi personally.

Did Satoshi Nakamoto move some of his Bitcoin?

WhaleAlert has reported a potential transaction from an 11-year-old Bitcoin wallet that could belong to Satoshi Nakamoto. The Bitcoin stored on the wallet was dug in the first month after Bitcoin’s official launch in 2009. Joseph Young asked on Twitter why the BTCs were now moved (freely translated):

50 BTCs from February 2009 were moved. This is only one month after the first Bitcoin block was mined. There are not many people who can do this, perhaps close associates of Satoshi. My question is why and not who sent 50 BTC for the first time in more than 10 years.

Nic Carter, a partner at Castle Island Ventures, explains on Twitter that it is very unlikely that this transaction belongs to Satoshi Nakamoto, as it does not carry the so-called Patoshi pattern (developed by RSK software designer Sergio Demain Lerner). The pattern (“Pattern”) considers the so-called “Nonces”, an arbitrary number used in Bitcoin’s Proof of Work consensus algorithm.

The nonce can be found as a 4-byte field in a block header and is adjusted by the miners so that the hash value of the block is less than or equal to the current target hash value set by the network. The Patoshi blocks have a different nonce pattern due to an old bug in the code of Bitcoin than the blocks of other miners, as the theory says.

A recent analysis of the transaction shows that this pattern was not used in the 50 BTCs that have now been sent and therefore a supposed connection to Satoshi Nakamoto is unlikely.

Carter further states that there were many other miners at the time who may also have mined Bitcoin. However, it cannot be proven or ruled out with certainty that this was a wallet by Satoshi Nakamoto. At least this is very unlikely.

About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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