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Oct 8, 2024 · A new HBO documentary takes a swing at uncovering the real identity of Satoshi Nakamoto, inventor of Bitcoin. But without incontrovertible proof, the myth lives on.
- The Mainargument
- Thebitcoin Xt Fork
- The Debate Goes Global
- Segwit and The Lightning Network
- Mike Hearn's Ragequit and The Emergence Ofbitcoin Classic
- Craig"Faketoshi" Wright
- Bitcoin Unlimited Enters The Chat
- Litecoin as A Segwit Test Run
- The New York Agreement
- Bitcoin vs Bitcoin Cash
Let’s head into a bit of an overview before we chronologically walk through the events, the people involved, and the arguments for each side. Blocks are groups of bitcoin transactions which are confirmed and broadcasted to bitcoin’s public ledger, the blockchain. The Bitcoin block size limit is a parameter in the Bitcoin protocol that limits the si...
The first, but certainly not the last proposal by the big blockers, argued that Bitcoin needed bigger blocks to keep transactions cheap came in the form of Bitcoin XT. It was a suggestion that would increase the blocksize from 1MB to 8MB and then doubling every two years until 2036, where the blocksize would be around 8GB. This software update woul...
During the blocksize war, there were several conferences held around the world that discussed the subject of scaling. First in Montreal, then in Hong Kong where it became clear that an 8 MB blocksize increase is not the right move forward and Bitcoin XT was basically dead. An increase to 2 MB was still on the table. And this is a key realization. B...
What made the war really interesting is that Bitcoin developer Pieter Wuille found a way to increase the blocksize through a soft fork rather than a hard fork. This means the new client is not incompatible with the previous client. The solution is called Segregated Witness or SegWit for short. This was a huge step forward for the small blockers who...
In January 2016, Mike Hearn, the Bitcoin XT developer was so frustrated with the progress of the debate, that he claimed Bitcoin was a failed project and that he will sell all his coins. After he ragequitted he was somewhat replaced by Jihan Wu the co-CEO of Bitmain, which produced mining equipment and ran mining pools. After Bitcoin XT was pronoun...
After Jihan Wu another player entered the game: Craig Wright. Craig Wright, who is a big blocker, claimed that he was Satoshi Nakamoto. Gavin Andresen also stated publicly that he has seen cryptographic proof for this claim. This is the point where many things went downhill for the big blockers. A lot of them believed in Faketoshi even though it wa...
Unfortunately, people have short memories in this space. So what happened? Bitcoin Classic lost traction and the big blockers came up with a new idea: Bitcoin Unlimited. The problem with Bitcoin Unlimited was that next to the blocksize limit, they wanted to change other things which resulted in a deeply technically flawed project and a less simple ...
Next to Bitcoin there was Litecoin which only had a 75% activation threshold. The small blockers discussed that Litecoin could actually be a good test run for SegWit. The Litecoin community embraced the softfork with open arms because it meant that Litecoin became one step ahead of Bitcoin development. But of course the same debate about big and sm...
On May 22, 2017 there was a closed doors meeting in New York with people like Barry Silbert and Jihan Wu. The agreement was about how Bitcoin should move forward from here and contained the following. 1. Activate Segregated Witness at an 80% threshold, signaling at bit 4 2. Activate a 2 MB hard fork within 6 months This was supposed to resolve the ...
At this point, another notable name participated in the war: Roger Ver. To say Roger Ver was excited about Bitcoin is an understatement But who is he? In the early days, Roger was one of the most relentless promoters of Bitcoin and was most intrigued in the payments aspects of the network. In the ensuing block size war, this made him a big blocker....
Oct 9, 2024 · The history of Satoshi-sleuthing is filled with wrong turns, cul de sacs, and wild goose chases. But HBO's "MONEY ELECTRIC: THE BITCOIN MYSTERY," which aired in the United States Tuesday night...
- ben@coindesk.com
- Managing Editor, Features And Opinion
Oct 9, 2024 · A massive 98% of people on Polymarket are betting that Satoshi will remain unidentified in 2024. Bitcoin endures. The big question looming over all this is: does it really matter who invented...
Oct 3, 2024 · While the coins are not officially linked to wallets used by Satoshi Nakamoto, they have been dormant since the earliest days of Bitcoin, when the cryptocurrency was worth almost nothing. The wallets’ creators would certainly have been Satoshi’s earliest collaborators.
Mar 7, 2024 · Satoshi briefly surfaced one final time in 2014 to refute a news story that professed to discover their identity, but it’s been crickets ever since. In disappearing from the scene, Satoshi also...
People also ask
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Oct 8, 2024 · The first is to solve one of the internet’s great mysteries by revealing, at long last, the identity of Satoshi Nakamoto, the pseudonymous programmer who created Bitcoin in 2008.
