Bitgold blog
Who is Satoshi Nakamoto? Has another time-stamped puzzle tranche been pieced together in the great "Who is Satoshi? When talking about the difference between Nick Szabo's his own theoretically proposed "bit gold" and Satoshi Nakamoto's bitcoin released as version 0.
In a post on Nick's blog he is answering a commenter's question in December about why bit gold would make money creation rely on arbitrary puzzle solutions by miners in the first place. In Nick's reply bitgold blog this question, bitgold blog below, does he have a "Eureka! Why do the puzzling at all, rather than issuing a fixed amount of currency inflated at a predictable rate, with unique identifiers for each unit of currency?
But the real question for beating bit gold is how do bitgold blog do this without having to put full trust in third parties? If we bitgold blog figure that out, we've come up with something better than bit gold. Real trusted third parties, whether central banks or private note issuers, have always been tempted to overextend and overinflate, although occasionally the reverse happens.
They are also vulnerable to government takeoever. Any algorithm, like the gold standard of old, is likely to be modified bitgold blog a "crisis": Possibly the money issuing algorithm could be run by many parties in parallel manner, a technique known as Byzantine agreement.
Indeed, this is the bitgold blog technique used to run the bit gold title bitgold blog. All participats would agree to 1 generate a fixed number of unique large random numbers each week, or a number inflated by some predictable algorithmand 2 assign each by some fair algorithm to one of participants. Each timestamped random number becomes a rare collectible, like postage stamps. I can see where this would work! It will take quite a bit of thinking over, though, as we've eliminated one of things that bit gold users can approximately prove, i.
Byzantine security is far from perfect. In layman terms it just means that when everybody bitgold blog everybody bitgold blog the same message, far bitgold blog people bitgold blog to be corrupted in order to fake the bitgold blog than if the message is sent through one or a few people.
Thus any given party is trusted only to a bitgold blog small degree, but there is still that bitgold blog degree of trust. There is a much stronger temptation here than with bit gold to inflate the currency, since it can now be costlessly "printed" instead of "mined": Still, it's an intriguing idea worth developing even if for no other reason than it gives us another concrete plan to compare bit gold to. Read the paragraph again where he starts with "Possibly This suggestion by himself, is exactly bitgold blog he credits Nakamoto as doing to solve the last "problem" with bit Gold, and credits bitgold blog the biggest difference between bit Gold and bitcoin.
Don't these type of Eureka! During communication with a minion or listener, one finds bitgold blog inner truth or solves a long-running problem inside one's own head simply by conversing with someone who doesn't quite understand everything.
In short, perhaps it is human nature for every Alexander Graham Bell to have his "Watson"? In the words of Szabo while listing reasons he is not Satoshi: Yet another feature obvious in hindsight, quite non-obvious in foresight.
More importantly, the time stamp for this possible "Eureka! Nick might argue that altho he might bitgold blog discovered the same solution which "Satoshi" later used to make bitcoin leakproof vs Nick's bit gold, he wouldn't have bitgold blog enough time bitgold blog implement it? If Szabo already had a running system using Byzantine Agreement to solve his double-spending problem ledgersbitgold blog he simply have ported that same code into the mining algo?
In other words, if you were already using a similar algo for something else within bitcoin development, you wouldn't need to completely re-invent the wheel to patch up bitcoin code-- ASSUMING "Satoshi" had already completed the programming for most of bit gold by then.
Szabo suggested using a "Byzantine Quorum System" bitgold blog far back as Remember, Nick during constantly uses the phrase "we", so it's likely he's not coding alone-- and this is possibly a very important piece to the "Who is Satoshi" puzzle pun intended, again, as bitcoin is ALL about puzzles.
Here's a guy who according to himself wrote the prototype for bitcoin, but never got to "cash in" on the concept bc some unknown entity supposedly bitgold blog the idea away from him and printed tens of millions of bitgold blog for himself before the first bitcoin PAYMENT to Hal Finney was even bitgold blog Instead of bitgold blog automated market to account for the fact that the difficulty of puzzles can often radically change based on hardware improvements and cryptographic breakthroughs i.
I can't decide whether this aspect of Bitcoin is more feature or more bug, but it does make it simpler. Here's the full article, bitgold blog ENTIRE PREMISE bitgold blog which is talking about how to measure varying "hashcash-y" tokens as equal commodities, rather bitgold blog become a problematic system of "collectibles" like cryptokitties for instance which cannot run accounts simply: Later he claims Bitgold blog solved this problem, and therein lies the last piece of the "Who is Satoshi" puzzle.
We propose his closest confidantes, or bitgold blog himself in the final critical days, solved their own problem here. After all, solutions are mostly found closest to crunch time, no? Wanna work out the kinks to something, put a date on final product, and then scramble to patch up all possible flaws.
This is how Apple inventions all happened, no? Steve Jobs, standing over shoulders asking when it will be done, and delivering critical feedback on whether solutions are good enough as chief visionary of how technology SHOULD work. Bitgold blog MOST problems get solved closer to the final product date? Just look at bitcoin, the beginning seeds for a de-centralized cryptocurrency were sown in the s with CypherPunks and perhaps even earlier with the invention of large prime number crypto.
But as Nick points out, bitgold blog were hard-to-see problems which had to be solved to make everything work right. What is the probability those small solutions which make up the whole of bitcoin system, were solved closer to the date of release for bitcoin 0.
No small task, one would mostly likely need to be a deep study of human history. A potential Satoshi would likely have read and accepted Nick Szabo's bit gold publishing.
Nick himself defines this small group as Hal Finney, Wei Dai, and himself! Satoshi Nakamoto is likely all three of these gentlemen; after all, who do you think made the first phone call? This is our strong supposition, and we think the circumstantial evidence has piled up to the point of no return. The case looks bitgold blog clear-cut. Szabo is an expert in law, finance, cryptography and computer science. Did Nick Szabo create Bitcoin? Thanks, for sending me the link to this discussion.
I just want to share some thoughts of mine regarding this topic. Fankly it doesn't matter who is Satoshi Nakamoto, but a few things are for sure in my opinion. Dai, Finney, or Szabo. Szabo seems to be heaviest in history of money, so the biggest influence. Finney seemed forthcoming in how much bitcoin he owned, so sure seems like it's narrowed bitgold blog to Dai bitgold blog Szabo.
So that points to Szabo acting alone. That's why we bitgold blog on Szabo. If it was a group, there also should have been more than one entity pre-mining it. It's funny you say bitgold blog, we're thinking Sillycon Valley seems to have been late in sanctioning all this. As Szabo indicates, it WAS very tough to find people who were all of bitgold blog Libertarian 2 in cryptoworld and 3 believe gold wasn't the answer.
So Silicon Valley seems to have only glommbed-on in the end, as bitcoin was considered tech-geekie enough to arouse their interest-- and as bitcoin survived and became more resilient.
Not convinced blockchain solves anything other than de-centralization. De-centralization is the bitgold blog of what countries and accepted currencies want. So blockchain, and more accurately the Byzantine Quorum method of verification, seems destined to serve the "dark side" of the force, not the legal side. Bitgold blog, we wouldn't jump to conclusions on bitcoin as acceptable currency yet. Bitgold blog would need to bitgold blog the first attack by large governments first, and we suspect the odds of survival are quite low in the "white shoe" world but better in the black markets-- of which oil is not.
Not sure exactly what you mean, bitgold blog fiat is just dandy bitgold blog government control. No real great reason to use crypto. The US Fed's system of money is quite honed by this point, as evidenced by all the money-printing bitgold blog the latest crisis.
The gov'ts of the world reallly don't need a better system. Crypto, again, seems destined for black markets. Perhaps more interesting on this last point, is the fact that the Spanish dolares became the accepted coinage of the US bitgold blog, hence the "dollar"'s name chosen bitgold blog in Again, it's hard to say, as it really isn't that clear bitcoin and cryptocurrencies offer much as compared to the digitized currencies we already have.
Will the next great Empire after the US believe in de-centralization? Extremely hard to say, as we're talking many many years into the future. Yep, also very compelling. Our stuff builds another brick in the wall, next bitgold blog analysis such as you posted. Szabo is also FAR bitgold blog content to shill for bitcoin and ether, instead of starting another crypto to take advantage of his own extensive knowledge on the subject. Normal human nature would have him quickly seizing on the opportunity at SOME point in the past 7 years; additionally, like Finney he SHOULD have been an early transactor in the process, in terms of mining or other forms of taking advantage of bitcoin.
No one on earth had a longer view of this crypto-currency stuff than Szabo, it's virtually impossible to believe he got left behind. So again, where's the questions dropped on him, about how much bitcoin or ether he owns? If he says nothing on record, one has to assume he owns a lot, no? A great piece of organizing circumstantial evidence, harpooninvestorand I buy your conclusion, for a reason adding to all of yours.
From Day One the code code could not be so buggy that everybody would laugh at the loopholes. It was not, and that was probably because a bunch of bitgold blog were checking it out carefully before allowing it to go public. I bitgold blog an experienced bitgold blog, and know from long experience that once you let your program to go "work in the wild" it is likely to encounter combinations of data structures bitgold blog data volume and logic quirks in your code bitgold blog will give you heartache.
So when they first went public a lot of testing was probably already done. Yes, it seems very likely they ran a lot of tests out amongst friends before releasing to the wild. Also, the hidden nature of "Satoshi" seemed all too-well planned, and that's something that alludes to Libertarians crossing with Cryptopunks crossing with those who think e-Gold might not be the answer. We remember bitgold blog about e-gold way back during the beginning days of the internet bubble so timeframe and what turned us away, ironically, was the mistrust of a central authority who you'd bitgold blog to send your hard-earned cash to participate.
These particular guys would've thought long and hard about this problem, and it bares out in what Szabo et all wrote.