The truth about Patoshi, the acclaimed lone miner possessing one million Bitcoins, was something that left many in the crypto space puzzled. His existence was questioned by many, but a few new arguments have sprung up, that strongly challenge the disbelievers.
A nasty debate sparked around the true identity of Bitcoin’s evasive founder, Nakamoto, after the lawsuit against Craig Wright was filed. While the dilemma surrounding Nakamoto’s true identity continues, there have been recent reminders about the elusive miner, known as ‘Patoshi,’ who many believe still might be in possession of more than a million Bitcoins.
Despite the common belief that Nakamoto owns over a million Bitcoins, nobody actually knows the exact amount. Whereas, Patoshi, who was initially introduced in a study that was published by the Chief Scientist at RSK labs, Sergio Lerner, might actually surpass Nakamoto in his riches.
It is believed that one of the earliest BTC miners was able to accumulate almost two million Bitcoins (1,800,000 BTC) with the greater portion of his share still unspent. And when Bitcoin reached its highest value at twenty thousand dollars ($20,000), this would have most definitely been more than enough to make him the wealthiest man on the planet.
My latest post: A new strong argument that a single miner mined ~1.1M bitcoins in 2009-2010. https://t.co/bQGryhz5kL
— Sergio Demian Lerner (@SDLerner) April 16, 2019
In his most recent article about the crypto phantom ‘Patoshi,’ Lerner states four very strong arguments to counter those made by deniers, challenging the probability of a single miner to mine twenty-two thousand blocks on his own.
Ninety-nine percent (97%) of Patoshi’s blocks are still unspent, and each one links to a P-set block.
He further goes on to explain that during the initial phase of BTC, there was no technology to operate a mining pool, so miners came into existence a few years following the Genesis block.