Worth approximately 8.8 billion US dollars, Satoshi Nakamoto is the mysterious creator of Bitcoin. Who is Satoshi though, why does no one seem to know their true identity, and why has Satoshi not cashed in on this incredible wealth? Today's episode explores all this and more! Oh, and I take a couple jabs at the creator of McAfee antivirus, John McAfee! Let's get strange!
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Worth approximately 8.8 billion US dollars, Satoshi Nakamoto is the mysterious creator of Bitcoin. Who is Satoshi though, why does no one seem to know their true identity, and why has Satoshi not cashed in on this incredible wealth? Today's episode explores all this and more! Oh, and I take a couple jabs at the creator of McAfee antivirus, John McAfee! Let's get strange!
Support the show on Patreon!
Like us on Facebook!
Follow us on Twitter!
Intro/Outro Music:
Idea by Electronic Senses | https://soundcloud.com/electronicsenses
Music promoted by https://www.free-stock-music.com
Creative Commons Attribution-ShareAlike 3.0 Unported
https://creativecommons.org/licenses/by-sa/3.0/deed.en_US
Background Music:
Samsara by Nihilore
Creative Commons Attribution 4.0 license
http://www.nihilore.com/
00:00:00 Kenneth
By now, the term Bitcoin has become a household name, from prices on GPUs skyrocketing during the big boom of Bitcoin mining, to that guy in your Facebook friends group bragging about "being on my grind, making mad stacks with Crypto currency", Bitcoin has come across your screen in some way.
00:00:17 Kenneth
Today's episode is less about the coin and how to mine, but about the mysterious creator of Bitcoin. No one seems to know who they are and all we really have to go off of is a name, Satoshi Nakamoto. What makes this story even more interesting is the lack of movement their coins have had with their wealth estimated at 8.8 billion US dollars around mid 2020.
00:00:40 Kenneth
My name is Kenneth Zallie and welcome to The Strange Collective.
00:00:50 Kenneth
So this mysterious Satoshi Nakamoto is the creator of Bitcoin. The Bitcoin domain name bitcoin.org was actually registered August of 2008, and on October 31st, 2008, Satoshi published a white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System. For anybody unaware. A white paper is defined as
00:01:11 Kenneth
"An authoritative report or guide that informs readers about a complex issue and presents the writer's philosophy on the topic". Satoshi posted this white paper on a cryptography mailing list known as The Cypherpunks. The Cypherpunks are an activist group that were influenced by David Chaum, who was a computer scientist, and cryptographer
00:01:32 Kenneth
who had written a paper called "Blind Signatures for Untraced Payments". This paper led to the creation of Digicash in the 90s, which was an anonymous payment system. This group's main desire was to write code and create systems that would help defend our privacy. It was clear that Satoshi was involved in this group in some capacity, considering the fact that they published their white paper here.
00:01:54 Kenneth
On January 3rd, 2009, Bitcoin released as an open-source software with the first block of chain being mined, AKA the Genesis block or block 0. Now real quick, for anybody who's unaware exactly of what Bitcoin mining is. I'm not going to get too into the weeds here, but just understand that Bitcoin mining is the process of making a computer's hardware do
00:02:19 Kenneth
mathematical equations for the Bitcoin network to confirm transactions and increase security, and anybody who is quote unquote mining, they can be rewarded with Bitcoin for having their computer up and running and running these transactions or running these calculations. Basically to keep this entire network afloat.
00:02:41 Kenneth
Within this transaction, a message was embedded. Quote "The Times 03/Jan/2009. Chancellor on brink of 2nd bailout for banks".
00:02:53 Kenneth
This would double as a timestamp of the transaction, but also seemed to be Satoshi's commentary on the 2008 financial crisis. So to kind of break this down a little bit, the Times is a newspaper (for those who can't remember what printed media is considering how dead it is.) Please excuse my Boomer joke I just made despite not being a boomer.
00:03:14 Kenneth
And this message references a headline from the same date. Aside from the first transaction, it was later found that this same message was baked into the code of Bitcoin. It's believed that this message proves that Nakamoto created Bitcoin to rival or takedown the modern banking systems, which would make sense considering one of Nakamoto's biggest influences being The Cypherpunks.
00:03:35 Kenneth
How very Elliot Alderson of them. That joke is for all my Mr. Robot fans out there. A few days later on January 12, 2009, the first Bitcoin transaction took place. A man named Hal Finney was on the receiving end of 10 Bitcoin given to him by Nakamoto.
00:03:51 Kenneth
So let's take a deeper look into moreso Nakamoto themselves, and a little bit less about kind of the history of Bitcoin.
00:04:00 Kenneth
On November 13th, 2009, Satoshi registered their P2P Foundation account. PTP meaning peer to peer, and by the way for the record, if you're listening to this and you wonder why I'm using the pronouns they and their and things like that, we don't know if Satoshi is a male or a female, or identifies as anything else. So just to play it safe,
00:04:21 Kenneth
I'm trying to avoid any incorrect pronouns, so I'm just using their, they, and things of that nature. The account lists a birth date of April 15th, 1975, and a location of residence as Japan, making Satoshi 45 years old currently.
00:04:38 Kenneth
Based on their comment and post history, people have theorized that Satoshi may be British based on their spellings and mannerisms within online speech. Many of their grammatical decisions line up more with British English than American English.
00:04:51 Kenneth
A small example was Satoshi's use of double spacing after periods when typing, which is a very old thought process, dating back to typewriter days and is taught more so in British English than it is in American English. Going off of this, Japan primarily teaches American English, which begs the question, is Satoshi a Japanese native?
00:05:11 Kenneth
Or a native of a European country. Or perhaps Canada, Australia or another British English country.
00:05:17 Kenneth
Another thing to note is that the term white paper, as discussed earlier, is actually a popular term used more so in the UK and Ireland compared to other countries.
00:05:27 Kenneth
At this point you may be pointing to the name Satoshi Nakamoto as proof that Satoshi is Japanese without a doubt. There are some possible explanations that I'll touch on in a little bit, but just remember you can claim your name is anything on the Internet. As the early days of Bitcoin waged on, Satoshi found themself frequenting cryptography, forums and sites promoting Bitcoin.
00:05:47 Kenneth
2010 would come around and with it, a floodgate of new users of Bitcoin.
00:05:52 Kenneth
2010 saw the site WikiLeaks struggling with funding to stay afloat and online. Mired by controversies and scandals, a source of funding became uncertain considering government interference if frequenters of the site provided their payment information to support the site. Basically just, you know, kind of realized that if people were giving their information and their payment information and things like that to WikiLeaks,
00:06:15 Kenneth
the government would definitely be able to step in and monitor who these people are that are funding such a site that was causing them quite a headache at this time.
00:06:25 Kenneth
PCWorld published an article proposing the idea that maybe Bitcoin could be used to fund Wikileaks.
00:06:31 Kenneth
This proposal caused a significant spike in attention aimed at Bitcoin and the forum surrounding it. Satoshi's response to all of this was "It would have been nice to have gotten this attention in any other context. Wikileaks has kicked the hornet's nest, and now the swarm is heading towards us.
00:06:48 Kenneth
Satoshi very obviously didn't want this large of an adoption rate or attention at this rate, as Bitcoin was still a very in-beta currency. Moving at this rate could either slow its longtime growth, or kill the currency altogether. There was also a concern that this would cause an association between Bitcoin and illegal or criminal activity, considering wiki leaks nature.
00:07:09 Kenneth
It's quite possible that this attention was the driving factor that led to Nakamoto's departure from Bitcoin. In January of 2011, Nakamoto published their last post on the P2P website, until an event later down the line would cause Nakamoto to re-emerge from the shadows with one final update. But we'll get to that soon. Satoshi, during the same year, would hand the metaphorical keys to the Kingdom
00:07:32 Kenneth
to a man going by Gavin Anderson. Satoshi would remain in contact with Gavin via email until April 26th, 2011. His final message to Gavin read as follows: "I wish you wouldn't keep talking about me as a mysterious, shadowy figure. The press just turns that into a pirate currency angle. Maybe instead make it about the open source project,
00:07:53 Kenneth
and give more credit to your dev contributors. It helps to motivate them."
00:07:57 Kenneth
So basically this message is saying "Yo stop treating me like Anonymous and give the damn developers a pat on the ******* back.
00:08:03 Kenneth
While Nakamoto strongly opposed the use of Bitcoin for criminal and nefarious purposes, there wasn't much they could do about it. Bitcoin would go on to be the preferred currency of the darknet marketplace: The Silk Road.
00:08:16 Kenneth
Briefly, for those who may be unaware, the Silk Road was the Amazon of drug sales, fake licenses, and other illegal goods. You can only access it through a Tor browser, but just a heads up, don't bother looking for it anymore. After the FBI got involved, the site is now defunct.
00:08:33 Kenneth
So combine the rapid growth of the coin, its new use in illegal activity, and it was a perfect recipe for someone to back out of their own project, which appears to be what happened to Nakamoto.
00:08:44 Kenneth
So at this point we got a question we have to ask who is Nakamoto?
00:08:50 Kenneth
Well, let's talk about some ideas and theories. A popular theory regarding the identity of Satoshi Nakamoto is that the name is less of a name referring to one person, but rather a mashup of a few tech Giants. Specifically, Samsung, Toshiba, Nakamichi and Motorola. If you take the beginning of each name, you end up with
00:09:11 Kenneth
Sa for Samsung, Toshi for Toshiba, Naka for Nakamichi, and Moto for Motorola. It's wild to look at, but hell, the creator of Bitcoin could have just cooked this up as a clever name, much like Voldemort thought he was creative when he used his name of Tom Marvolo Riddle to create the anagram "I am Lord Voldemort". I personally find it unlikely that these four tech giants
00:09:33 Kenneth
Created Bitcoin and paraded around Crypto sites as one guy.
00:09:37 Kenneth
And also JK Rowling what a ****** way to create a villain's name. Come on man.
00:09:42 Kenneth
Something we can verify about Nakamoto is that they use the Tor browser to hide their data and improve their anonymity. Furthermore, when purchasing the domain name in the beginning of Bitcoin's inception, Nakamoto used a prepaid credit card to remain anonymous.
00:09:58 Kenneth
Despite the lengths they went to to remain anonymous, they had left markers as to who they were or what kind of person they may be through their countless comments and posts on forums.
00:10:08 Kenneth
We know that they began working on Bitcoin in 2007.
00:10:12 Kenneth
They clearly had a deep background in coding, C++ in particular, and cryptography and economics.
00:10:19 Kenneth
Satoshi is estimated to have over 980,000 bitcoins still in their Bitcoin wallet. These estimates are based on the amount of coins mined during the early days of Bitcoin versus the amount that have not been touched since the first year of its existence. Since very few people were mining at the time, this information is all verifiable considering the nature of blockchain currency.
00:10:39 Kenneth
With blockchain currency, all transactions are public and traceable. As a Bitcoin is mined and traded, a timeline is basically created.
00:10:48 Kenneth
The 980,000 Bitcoin worth fluctuates as the Bitcoin market lives and breathes, but in 2020 the estimated worth ranges from 8.8 billion to 9.1 billion US dollars.
00:11:00 Kenneth
An overwhelming majority of these early day coins have not moved until this year 2020.
00:11:07 Kenneth
In May, 50 coins were transferred to other people. These were part of mined coins from February 9th, 2009. Due to the age of the coins, they either came from an early dev like Hal Finney mentioned before, (or his family as Hal has unfortunately passed away.)
00:11:23 Kenneth
an individual named Marti Malmi, (who we really won't be touching on in this episode), or Satoshi themself.
00:11:32 Kenneth
While researching this story specifically, 1000 Satoshi-era coins moved.
00:11:38 Kenneth
On October 11th, the coins were sent to a new wallet. Approximately 40 minutes later, those 1000 coins were split between 81 different wallets. To give some context of the amount of money we're talking here, the total transaction was for $11,296,800 or
00:11:58 Kenneth
$11,296.00 per coin.
00:12:02 Kenneth
With all that being said, let's take a look at some of the most likely candidates who very well could be Satoshi Nakamoto.
00:12:10 Kenneth
Subject number one is Dorian Satoshi Nakamoto. Hmmm that rings a bell.
00:12:17 Kenneth
They are a physicist turned engineer, with no clear background in cryptography or a British English writing style. Interestingly enough, Dorian did only live a few minutes away from Hal Finney, who was that individual that received the first 10 bitcoins as part of the first Bitcoin transaction.
00:12:36 Kenneth
Newsweek was the 1st to make the claim that Dorian was thee Satoshi Nakamoto after interviewing him in person.
00:12:44 Kenneth
The journalist asked Dorian about his work from 2007 to 2009,
00:12:48 Kenneth
with Dorian responding,
00:12:50 Kenneth
"I am no longer involved in that and cannot discuss it. It's been turned over to other people. They are in charge of it now. I no longer have any connection."
00:12:59 Kenneth
In a follow up interview, Dorian cleared the air and stated that he had no involvement with the creation of Bitcoin and that he had misinterpreted the question as pertaining to his previous work. His real previous work.
00:13:11 Kenneth
He explained that this work was classified at the time, but would go on to reveal in later interviews that it was work for Citibank. This theory and the excitement surrounding it definitely stems from Dorian being asked a leading question, and Dorian's response being vague enough to the point that it could line up with the Bitcoin creator. Of course, his middle and last name doesn't help his cause either.
00:13:30 Kenneth
Unfortunately, after the Newsweek article came out, Dorian was doxxed, with Dorian's private information being leaked and people coming to his home.
00:13:40 Kenneth
Interestingly enough, this article was released March 6th, 2014. I mentioned this because on March 7, 2014 the Satoshi Nakamoto account on the P2P foundation website crept back out of the shadows after years of silence to say "I am not Dorian Nakamoto".
00:13:59 Kenneth
Naturally, this post was met with skepticism and many believed that the original account had been hacked in some way. Based on the image and identity that has been built surrounding Nakamoto, this post seemed pretty genuine in my opinion.
00:14:12 Kenneth
Months later though, on September 8th, 2014, an admin at the P2P Foundation site claimed they received an email from Satoshi's original email,
00:14:21 Kenneth
which is the same one listed on his original White Paper: Satoshin@gmx.com.
00:14:28 Kenneth
The admin reported that this email seemed to be a hacked one, with the language used not lining up with the original Satoshi.
00:14:35 Kenneth
The same day, Satoshi's account on P2P made the following post:
00:14:40 Kenneth
"Dear Satoshi, you're doxxed. Passwords and IP addresses are being sold on the darknet. Apparently you didn't configure Tor properly and your IP leaked when you used your email account sometime in 2010. You're not safe. You need to get out of wherever you are as soon as possible before these people harm you. Thank you for inventing Bitcoin."
00:15:00 Kenneth
That's nice of him. They give the guy a heads up and then they thank him for creating the thing that's probably going to kill him, you know.
00:15:06 Kenneth
I appreciate it. I respect it.
00:15:09 Kenneth
It's quite clear that the person posting is a hacker of some kind and screenshot proof of Satoshi's inbox showed a password request email from P2P on September 8th. This proved that the hacker didn't likely gain access until this date. You may ask why is this important? Well, it's important because it proves to a degree that the post from back in March
00:15:30 Kenneth
denying their identity is Dorian was posted by the actual Satoshi and not a hacker. Someone did try to offer up information surrounding Nakamoto's account at the cost of 25 Bitcoin, but there weren't many bites, and the user dumped the info they had anyway, and to no one's surprise, all the user had were screenshots of Satoshi's inbox.
00:15:50 Kenneth
Now we move on to suspect #2, Craig Wright.
00:15:54 Kenneth
In December of 2015, the sites Wired and Gizmodo both claimed that Wright was Satoshi Nakamoto. In May of 2016, the BBC and The Economist claimed Wright had digitally signed messages using cryptographic keys from the early days of Bitcoin.
00:16:10 Kenneth
On that same day, a blog post on drcraigwright.net (which woo sweet website name.)
00:16:17 Kenneth
posted a message with the same cryptographic signature as some kind of proof that this is Satoshi.
00:16:23 Kenneth
Later, this would be revealed as unreliable as Wright reused a signature from 2009 from a transaction by Satoshi, and it seems likely that he just copied it.
00:16:34 Kenneth
Wright would continue to double down and claim that he was Satoshi and that the creation of Bitcoin was a group effort, but he still couldn't provide verifiable proof to back those claims up.
00:16:44 Kenneth
Looking at 2019, Wright went on to sue people for libel that claimed he wasn't actually Satoshi, and even tried to copyright Satoshi's white paper.
00:16:54 Kenneth
This guy is ******* delusional. Gavin Anderson did vouch for Wright at one point. Remember Satoshi passed the Bitcoin project to Anderson, stating Wright was able to provide a cryptographic signature from the very first block mined. This would offer some kind of proof, but Gavin would later take this back and say he may have been tricked. He's not sure anymore.
00:17:15 Kenneth
Which is some of the most wishy washy ******** I've ever heard like weere you tricked? Do you know? Like, I feel like it's... I feel like you should know this, right? You're the guy who's taken over Bitcoin as a whole like,
00:17:31 Kenneth
come on man... I don't, know Anderson's kind of ******* me off with this wishy washy **** but hey it is what it is right?
00:17:38 Kenneth
On top of the lack of evidence, it makes little sense that the real Satoshi would go from a conservative, quiet cryptographer to a loud sue-happy guy on the internet. The turn is quite bold and quite questionable.
00:17:52 Kenneth
Let's move on then to the third possible candidate, Hal Finney.
00:17:56 Kenneth
Remember that Hal was the one who received the first 10 Bitcoin from the very first Bitcoin transaction, and they were also a fellow Cypherpunk, and they found Nakamoto's work through the original mailing list. Hal Finney was also a developer for PGP Corporation, which, yes, if you are a fan of the show who is all caught up, that's right,
00:18:16 Kenneth
Pretty Good Privacy is back! I referenced them in the Isabella V episode and boy oh boy, PGP is back baby, with the absolute worst name on the planet.
00:18:28 Kenneth
Hal was also the first person Nakamoto recruited to work on the Bitcoin development and Hal agreed to work for free.
00:18:35 Kenneth
Um, which based on what we know, I guess we're not going to count the 10 Bitcoin that he got. Like, you said you'd work for free, but then you happily took 10 Bitcoin. I don't know, man. Seems a little seems a little silly there. You say you're going to work for free and then you took 10 Bitcoin anyway. Man, whatever.
00:18:52 Kenneth
There also is some kind of resemblance in their writing styles as well. Nothing too crazy there, and Hal made a fair amount of money mining Bitcoin in the early days. Unfortunately, due to complications with ALS though, Hal passed away in 2014, being cryopreserved by the Alcor Life Extension Foundation. Hal unfortunately spent most of his Bitcoin to pay for his medical expenses,
00:19:16 Kenneth
further proving that the American health system is overpriced and broken, but hey, today's episode isn't talking about corruption and greed within the American insurance industry and how it's slowly killing us all. No, no, we're not talking about that today. Let's move on then to another possibility, which would be a gentleman by the name of Nick Szabo. Nick Szabo is a cryptocurrency enthusiast,
00:19:37 Kenneth
and had created his own cryptocurrency, Bitgold, as a precursor to Bitcoin.
00:19:42 Kenneth
Szabo's work was also referenced in Satoshi's later writings, and their writing style was similar to that of Satoshi.
00:19:51 Kenneth
Aside from this, though, I don't really have much more evidence about Zabo.
00:19:56 Kenneth
It's just a matter of Szabo was connected to Satoshi in some way. So with that being said, let's move on to Adam Back, or as I'm going to call him, Adam "baby got back". Adam has a PHD in Distributed Computing Systems, and is proficient in C++, which was the language used in Bitcoin's programming. Adam was also referenced in Satoshi's beginning
00:20:18 Kenneth
writings, (including his white paper) and Satoshi had claimed to have spoken with Back, but there is no evidence to support this like there has been with other people.
00:20:27 Kenneth
Back had cryptocurrency knowledge also and knew some fine details regarding the development of Bitcoin, even knowing about a small bug from Bitcoin's early days, that was patched out years later. According to public records, though Back did not get involved with Bitcoin until 2013, well beyond the launch of Bitcoin. So it's kind of strange... How do you know about a bug,
00:20:49 Kenneth
a very, very, very specific bug in some coding, if it was patched out before you even came onto the scene, but you're claiming that you were not involved with Bitcoin prior to when you say you were involved in Bitcoin, which would have been well after the bug was patched?
00:21:05 Kenneth
The only thing I can think of is you were good buddies with somebody developing on Bitcoin or you knew Satoshi and Satoshi brought it up for some reason, but it just seems really unlikely. I don't know. It just seems like a really weird situation. I can't see why Satoshi would be like hey man, hey, thanks for your interest in Bitcoin!
00:21:25 Kenneth
By the way, can I tell you about this one very small minute bug we had? Crazy... we squashed it though... Like years ago... no big deal.
00:21:36 Kenneth
I don't know. Seems a little odd.
00:21:38 Kenneth
Let's move on though to my absolute favorite theory of who Satoshi Nakamoto is:
00:21:46 Kenneth
The John McAfee theory.
00:21:49 Kenneth
Now, for anybody unaware, John McAfee is the creator of the McAfee antivirus software. Now I call it McAfee. Some people probably McAfee or whatever. I call it McAfee, so I apologize if you guys don't agree with it. John claims that a team of 11 created Bitcoin and that Satoshi is just a collective.
00:22:09 Kenneth
And John also claims that Craig Wright was involved. Shocker, crazy recognize crazy! John also says that a specific individual wrote the white paper, but out of concern for their safety won't reveal it.
00:22:24 Kenneth
And Johns claims spawned out of an interview from just this May.
00:22:28 Kenneth
Now, I personally think John is talking out of his *** and trying to stay relevant. This is the same ******* that has fled Belize and evaded the police in regards to a murder he may or may not have been involved in.
00:22:40 Kenneth
He has also faked heart attacks while in a Guatemalan Detention Center after entering illegally to buy time for his attorney to file appeals to prevent him from being deported to Belize, but the US instead.
00:22:52 Kenneth
Allow me to provide you with a greatest hits of John McAfee:
00:22:57 Kenneth
He was arrested in 2015 in Tennessee on charges of driving under the influence and possession of a firearm while intoxicated.
00:23:04 Kenneth
He announced in 2019 that he was on the run from the US authorities and living on a boat to avoid tax related charges.
00:23:12 Kenneth
He fabricated a hoax in August of 2020, claiming he was arrested in Norway during COVID-19 after refusing to replace a lace thong with a more effective face mask. Yes, a lace thong. Women's underwear on your face.
00:23:30 Kenneth
OK John OK.
00:23:32 Kenneth
When he posted a photo to Twitter with a black eye claiming that it happened during the arrest, the photo shows an officer with the German word for police on their uniform. This guy wasn't even in ******* Norway. He was in Augsburg. You ******* idiot. Finally, he was arrested in Spain on October 5th, 2020 at the request of the US Department of Justice,
00:23:54 Kenneth
for ******* tax evasion. Now, why do I bring all this up? Because it paints a picture as to how unhinged John is, and that he's likely full of **** when it comes to Bitcoin and Satoshi Nakamoto. Like, John clearly knew what he was doing at one point. I mean, the guy did create an antivirus software. Like he clearly, he clearly has the intelligence,
00:24:16 Kenneth
but I don't think he has the ******* knowledge. Like. I don't think he actually knows just who Satoshi is. I don't think he really knows a whole lot about Bitcoin. Like, I really think that he's just trying to stay relevant and he just wants to talk.
00:24:30 Kenneth
Alright, now I'm done taking my shot at John McAfee. I'm sure he'll try to sue me with his tax evasion money or something. Who the **** knows, but hey, before wrapping things up, I want to ponder for a moment over why someone with such a Scrooge Mcduck mountain of Bitcoin wouldn't just cash out. So the first possibility is that Nakamoto
00:24:50 Kenneth
lost their hash key. To keep things simple with regards to hash keys and things like that,
00:24:56 Kenneth
understand that there is a public key and a private key. If you lose your private key, think of it like the hardest password you'd ever have to remember. You'd be unable to spend the coins in your wallet. Connected to the loss of a private key, Nakamoto could have lost their hard drive, preventing the use of their Bitcoin wallet. How you might ask? Well, one of the ways you can store your private key is with a software wallet
00:25:19 Kenneth
stored in your PC. Lose the drive, lose the key. The theory I believe in the most is that Satoshi knows that cashing out all these coins at once would almost definitely crash the Bitcoin economy or market. There can only ever be 21 million Bitcoin at one time with 18 and a half mined in late 2020. Now yes, I know if you are a fan of Bitcoin, you're probably, ya know,
00:25:42 Kenneth
if you're listening to this, you're going to come to this and say, "Well, actually that's not really true. It was 21 million is the upper cap, but there is plans or we're looking at increasing the cap." Yes, I ******* know, that's not what I'm talking about. What I'm talking about is at its inception, and at this time, the cap
00:26:02 Kenneth
is 21 million Bitcoin at any moment, and again, 18 1/2 million of them are mined already. Now, consider the fact that Satoshi's coin count makes up a little over 5% of the current coins mined and a little more than 4.5% of the total coins that ever could be mined. This might not sound like a whole lot,
00:26:23 Kenneth
but consider that the average miner has about 20 Bitcoin to their name or .01% of the currently mined coins. If Satoshi were to cash out and flood the market with their 5%, the value of Bitcoin would plummet and result in a lot of people losing fortunes. Because of this, I can't see Satoshi wanting to kill their creation by cashing out,
00:26:46 Kenneth
despite the fact that his creation has become an ugly, memed, shadow version of its former glory.
00:26:52 Kenneth
The fact remains, though, that we still don't know who Satoshi Nakamoto is, or their plans for their mountain of Bitcoin. Hopefully, with the Satoshi-era coins moving this year, we're closer to the answers we so desperately are seeking.
00:27:08 Kenneth
As always, I hope you all really enjoyed this episode. It was a really fun one for me to dig into. I'm not big into Bitcoin or cryptocurrency or anything like that. I don't have a dog in that race. I just find it kind of interesting and I find the idea of how cryptocurrency works pretty interesting. So when I came across this story about the creator of Bitcoin and
00:27:30 Kenneth
the fact that nobody knows just who they are, I thought it was really fascinating and kind of a really cool unsolved mystery, so to speak, that would be awesome for the show here. So, if you like the show, be sure to like us on Facebook at The Strange Collective Podcast, Twitter @ the_strange_pod. And if you can and you want to,
00:27:51 Kenneth
feel free to support the show financially through Patreon and that is The Strange Collective on Patreon. Everything will be linked below in the description and on Facebook and pretty much everywhere, all the social media. I'll have everything linked but yeah feel free to do that, continue to leave ratings and reviews wherever you guys get podcasts.
00:28:11 Kenneth
I've been seeing some more ratings and reviews on Apple podcasts, which means so much to me. As always, doing that really helps put the put the show on the map for other people that maybe they don't know about the show, which of course they probably don't. We're still a relatively new show, not many people are going to hear about it.
00:28:31 Kenneth
But by by rating and reviewing it, it definitely plays with the Apple algorithm and puts it out there more for more people to see it on the charts and things of that nature. And one of the other best ways you can help support the show is spread the word. Even just a simple share on your social media. If you like what we're doing, hey you want to share
00:28:52 Kenneth
a post that I make or anything like that, feel free to do that. You'd be surprised how many people come to the show that way. Aside from that, hey, you're out and about, which I know with COVID going on, you probably aren't out and about too much, but hell, you know, let's say it's Thanksgiving dinner this year and you and your family are all talking about what you guys have been listening to or watching, or what you've been doing to get you through COVID and all that ****
00:29:15 Kenneth
Hey bring up the podcast! Say "you know what, I've actually been listening to this podcast. It's about some weird strange **** on the internet. Hey, you might like it. Hey Pee-paw, I know you're 97and you probably haven't listened to any actual modern **** but I got this thing, it's called a podcast. It's basically like a radio play, but well, they're not acting. They're just telling you **** They're giving you information.
00:29:36 Kenneth
You in? You down? It's better than that garbage Fox News you keep ******* watching. But as always, thank you guys for listening to the show. It means the world to me. The Strange Collective is hosted, produced, written and edited by myself, Kenneth Zallie.
00:29:50 Kenneth
Have a good day.