Researcher Re-mines Satoshi's Bitcoin Blocks To Discover His Secrets

Published at: Aug. 22, 2020

Sergio Dermain Lerner, a researcher known for looking at the mining patterns of the original Bitcoin (BTC) miner, has turned his attention on the Bitcoin blocks mined by Satoshi Nakamoto.

Lerner made a preview of his latest findings available to Cointelegraph. His research is based on the irregular pattern of the Least-Significant-Byte (LSB) of the nonce field of block.

This past June, Lerner published a blog that expanded on his original research from 2013. He suggested that for an unknown reason, Satoshi refrained from mining in the first five minutes of the block interval. Other researchers have also expanded on Lerner's research. TechMiX showed that all the blocks mined by Satoshi could be grouped into five baskets, based on the frequency distribution of the Nonce LSB values. 

Nonce LSB value. Source: TechMiX.

A nonce gets incremented with every new attempt to solve a mining puzzle. Apparently, Satoshi's equipment was not using the entire available nonce space, only focusing on a limited range. Lerner's latest research indicates that Satoshi was decrementing the nonce value instead:

It turned out that re-mining reveals a strong tendency of the Patoshi mining algorithm to choose higher nonces when scanning the inner nonce. This tendency suggests the nonce was being decremented, which is the opposite that the Satochi client version 0.1 does.

This leads to a more interesting conclusion that perhaps will put an end to the discussion about the type of equipment that Satoshi Nakamoto used:

Since the nonce imbalance decreases when analyzing two subranges together, this suggests Patoshi was scanning the 5 subranges in parallel, but each subrange internally sequentially. This contradicts a theory that Patoshi deployed the first mining farm of 50 independent computers (or any other highly decoupled system) and supports the theory that Patoshi was simply multi-threading in a high-end CPU.

If Lerner's conclusions are correct that would lend more credence to the hypothesis that Satoshi Nakamoto was a single person and not a team. This would also put another nail into Craig Wright's claims of being a Bitcoin creator as he has indicated numerous times that he used dozens of computers to mine the early blocks.

Tags
Related Posts
Analyst: Chinese New Year could drive Bitcoin selling pressure
The upcoming Chinese New Year holidays on Feb. 12 could have an indirect impact on Bitcoin's (BTC) price and drive sell-offs on the market, according to a recent analysis. Per a Thursday report by cryptocurrency investment firm Stack Funds, the ongoing selling pressure on Bitcoin's price is likely to continue in the short term due to Asian miners increasingly offloading their funds amid the upcoming week-long holiday. With more than 60% of global Bitcoin mining pools located in China, Stack Funds head of research Lennard Neo suggested that a lot of selling pressure is coming from Chinese miners. The researcher …
Technology / Jan. 28, 2021
Bitcoin miners sold their entire May harvest: report
The cryptocurrency market entered a sell-off phase in the first week of June, seeing a market-wide route with the majority of cryptocurrencies falling to a 4-year low. The deteriorating market conditions have also affected Bitcoin (BTC) mining profitability adversely, forcing miners to liquidate their BTC holdings. New data from Arcane research shows that public Bitcoin mining firms sold 100% of their BTC production in May compared to the usual 20-40% earlier. In the first four months of 2022, public BTC mining firms sold 30% of their mined production, which increased 3X folds in May and is expected to rise even …
Bitcoin / June 22, 2022
Bitcoin mining to cost less than 0.5% of global energy if BTC hits $2M: Arcane
Bitcoin (BTC), the world’s most-valued cryptocurrency, has the potential to be a significant energy consumer in the future, but only if it reaches several million dollars, according to new estimates by Arcane Research. Crypto research and analytics firm Arcane Research on Monday released a report estimating the development in Bitcoin's energy usage towards 2040. Authored by Arcane Research analyst Jaran Mellerud, the report points out that Bitcoin’s future energy consumption differs massively depending on the future Bitcoin price alongside factors like transaction fees, electricity prices and others. If the BTC price hits $2 million in 17 years, Bitcoin may consume …
Blockchain / Aug. 23, 2022
Bloomberg: European Crypto Mining Firm Bitfury Considers Going Public
Blockchain technology company Bitfury is considering a potential Initial Public Offering (IPO), which could reportedly become the first major public listing in the crypto industry in Europe, Bloomberg reported Oct. 25. People familiar with the matter reportedly told Bloomberg that Bitfury is examining a range of options including raising debt financing or selling a minority stake. Should Bitfury go public in the following two years, its value could reach from $3 billion to $5 billion. However, the numbers could change depending on the markets and the health of the industry, purported sources told Bloomberg. Bitfury has reportedly contacted global investment …
Bitcoin / Oct. 26, 2018
The race for semiconductors: Are crypto miners taking the lion's share?
Over the last couple of years, the world has been grappling with the lack of semiconductors, which are the substances that conduct electricity between metals and isolates. The most famous semiconductor is silicon. If correlating this concept to electronic devices, then the key semiconductors are processors and other microcircuits that are present in almost all devices that people use every day, from smartphones to cars. In 2021, semiconductors hit a world record in terms of sales. Electronics production also boomed, with hundreds of millions of complex semiconductors being devoured by gaming consoles. The number of GPUs produced grew to unseen …
Technology / April 7, 2022