Whoever Created Bitcoin Controls An Incredible Fortune
By Brian Warner on December 11, 2018 ter Articles &rsaquo, Entertainment
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There is an enormous amount of mystery surrounding the creator of Bitcoin. Today, most people refer to a person named Satoshi Nakamoto spil the father of Bitcoin. Satoshi wasgoed reportedly born on April Five, 1975 ter Japan. He’s never bot ideally identified and there are many skeptics who think “Satoshi” is just a big wild goose pursue. But whoever created Bitcoin wasgoed clearly a brilliant programmer. And whoever created Bitcoin is an Utterly wealthy person today. Too bad he or she might be dead and their enormous fortune might be lost forever…
Here’s what is known about the creation of Bitcoin:
The domain name Bitcoin.org wasgoed registered ter August of 2008. Two months zometeen, someone going by the name of Satoshi Nakamoto published a paper titled “Bitcoin: A Peer-to-Peer Electronic Contant System” and submitted it to a cryptography mailing list. Nakamoto implemented the Bitcoin software spil wij know it today ter January of 2009. Nakamoto mined the very first 50 Bitcoins on January Three, 2009.
Overheen the next few months, the price of a single Bitcoin fluctuated inbetween 6 and Ten cents. That’s inbetween $0.06 and $0.Ten, Vanaf Bitcoin.
One year after Bitcoin wasgoed launched, January 2011, a single Bitcoin traded for about $0.25.
There will only everzwijn be a total of 21 million Bitcoins released. Spil the creator and predominant very first Bitcoin miner, Satoshi collected or rewarded himself with 1 million Bitcoins te those early months. That’s Four.8% of all Bitcoins ter circulation.
You can see those 1 million coins sitting te his public wallet. They have not bot accessed or spent since January 2009. And that’s a very strange situation.
Spil you’ve no doubt heard by now, Bitcoin is trading at around $16,000 vanaf coin. So whoever controls that account… who would presumably also be the creator of Bitcoin… is Utterly rich today.
Well, 1,000,000 Bitcoins at today’s closing price would be worth $16,699,380,000. That’s $16.7 BILLION.
George Frey/Getty Pics
So here’s where it gets crazy: It’s a little suspicious and strange that someone would launch Bitcoin ter January 2009, give themselves 1 million coins and then never access those coins again (or at least overheen the last 9 years). Especially spil the value of Bitcoin grew from 6 cents to 25 cents to $Ten to $100… and onward. How would he have not sold SOME along the way?
One ordinary theory that explains why the Bitcoins have not bot accessed te 9 years is that Satoshi is dead and that he died not long after creating Bitcoin. How else can you explain 1 million Bitcoins just sitting there for 9 years?
And the big problem here is that if he did indeed diegene, the money is likely lost forever. Ok not “lost”, but likely inaccessible to anyone. Again, just judging by the fact that not a single coin has bot sold te 9 years, it feels like Satoshi never told anyone his true identity. And therefore no one would know the password to his private Bitcoin wallet.
If no one has his password (a wifey, a lawyer, a child) that $16 billion fortune may just sit there forever, downright inaccessible. Bitcoin isn’t like a canap that you can petition to access a dead relative’s account. Once the password or wallet itself is gone, the Bitcoins are gone forever.
Or maybe Satoshi is not dead and he is just patiently watching his creation become more and more valuable just spil he predicted and planned. If he is alive, if the price of a single Bitcoin hits $100,000 some day, he’ll be the richest person on the planet. And I know that sounds totally crazy, but who would have thought when the price vanaf coin wasgoed $700 one year ago, that today a single coin would be selling for $16,600.