Tuesday, May 11, 2021

Satoshi Nakamoto Will Not Use His Bitcoin (BTC) Ever –Patoshi Researcher

Sergio Demian Lerner, a veteran researcher and prominent figure in the crypto community, believes that the anonymous creator of Bitcoin (BTC), Satoshi Nakamoto, will not use his BTC holdings ever, citing his altruistic intentions.

Satoshi is believed to have mined relatively 1.1 million BTC back in the days of the emergence of Bitcoin network.

Satoshi Nakamoto Will Not Use His Bitcoin (BTC) Ever

A popular researcher within the Bitcoin community, Sergio Demian Lerner, was the one who designed the second layer Bitcoin protocol RSK. After discovering privacy flaws in Bitcoin’s code, he came up with the Patoshi pattern.

In the early days of Bitcoin, it was noticed that a miner used a bit different algorithm to mine about $1.1 million BTC, which was believed to be mined by the pseudonymous creator of the leading cryptocurrency, Satoshi Nakamoto.

One big concern in the Bitcoin community is the eventuality of the price of BTC when Satoshi starts moving his huge BTC holdings. It is generally believed that the effect would be significantly negative.

Howbeit, Sergio Demian Lerner believes that this will not happen due to the altruistic nature of Satoshi, which will make him never to move the huge Bitcoin in his possession.

Anonymous Bitcoin (BTC) Transaction Attached to Satoshi Nakamoto

As it was widely reported about a few days ago, an anonymous transaction of 50 BTC mined in the first months of Bitcoin network inception was noticed for the first time.

The transaction caused many Bitcoin community members to wonder if it wasn’t effected by the most sort after personality in the crypto space, Satoshi Nakamoto.

Some days prior to the transaction, it was noticed that the block reward of the 50 BTC did not fall within the Patoshi pattern, which turned down the notion that the huge movement was effected by Satoshi.

However, the aftermath of the movement was soon noticed on the value of Bitcoin (BTC), as the digital currency lost over $1,000 a few hours after the transaction. This negative effect makes many wonder what could happen if Satoshi eventually moves his Bitcoin holdings.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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