The new Satoshi Stash Stash Claims Creator has mined $ 10.5 billion worth of Bitcoin

On Monday, blockchain trackers and researchers at Whale Alert released a new research report on the infamous fortune allegedly owned by Satoshi Nakamoto. Researchers estimate that the Bitcoin creator likely mined coins up to block 54,316, capturing 1,125,150 BTC or $ 10.5 billion using today’s exchange rates.

For years now, investigators and armchair researchers have been trying to estimate how many bitcoins Nakamoto owns and many people have exploited the mining models. One of Satoshi Nakamoto’s most popular bitcoin (BTC) theories comes from RSK Labs chief scientist Sergio Demián Lerner. The RSK Labs engineer is famous for his Patoshi model studio and also runs a website called Satoshi Blocks.

In his study, Lerner produced datasets from his blockchain analysis that tracked the extraneous fields within the coinbase field resulting from the coinbase transactions themselves. From Lerner’s old research and Patoshi model study published on April 16, 2019, people estimate that the creator of Bitcoin had nearly a million BTC.

However, in 2018, Bitmex Research researchers also conducted an in-depth study of Satoshi’s alleged bitcoin stash and the estimates were much lower. Bitmex concluded that the creator of Bitcoin may have only mined 600,000 to 700,000 BTC or $ 6.5 billion worth of coins.

Now, blockchain monitoring company Whale Alert has released a study with a new estimate, and the researchers say it’s quite “accurate”.

“We were able to make the most accurate estimate of the number of blocks mined and bitcoins owned by Satoshi: 1,125,150 bitcoins mined up to block 54,316 with an estimated total unspent bitcoin value of at least $ 10.9 billion. dollars in today’s market, “Whale Alert wrote on July 20, 2020.” In addition to the size of his fortune, we were also able to infer the purpose of the miner Patoshi: to defend the young network from attacks. “

Whale Alert also discussed how Sergio Demián Lerner produced datasets from his blockchain analysis that charted the extranche fields, but they say they have discovered “some interesting new details”.

“Between the blocks 21,467 and 25,777 the range [0–9] was only used at the beginning of each Patoshi chain (each chain is a single miner’s run, and therefore a single line in the graph above) and the number 39 was only used sporadically. Between blocks 25,811 and 54,316, number 29 is completely missing from some chains, ”notes the report.

The Whale Alert researchers went on to add:

These anomalies could indicate that some computers or cores were faulty or turned off during these times. These results allowed us to exclude even more blocks that were not mined by Satoshi and gave us a clearer picture (see figure above) which was especially valuable at higher block heights where mining on the network has increased. drastically.

The study also highlights that the research was intended to ask “why Satoshi was mining in this particular way”. Whale Alert analysts noticed some taller blocks that had some anomalies, but they believe it’s safe to say the Patoshi miner was deactivated in May 2010.

This led Whale Alert to conclude that Satoshi mined bitcoins just to protect the network and the coins he earned were “a mere byproduct of these efforts”. Furthermore, the Whale Alert researchers believe it is “unlikely that the rest will ever be spent.”

“While the question remains as to why Satoshi didn’t just burn them in this case,” admits the Whale Alert study, casting doubt on a bias. “Our results do not rule out the possibility that Satoshi was also managing a miner using publicly released software, if only for testing purposes, and we think it likely that at least one of the non-Patoshi models also belongs to Satoshi.”

What do you think of the latest estimate regarding Satoshi Nakamoto’s bitcoin stock? Let us know what you think about this topic in the comments section below.

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