Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Brazio on August 23, 2018, 02:16:56 PM
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The BitMEX platform conducted an investigation into the theory of the "dominant miner" attributed to Sergio Demian Lerner and that CoinCrispy had already covered, where they show more evidence that corroborates the possibility that Satoshi Nakamoto has mined a million of Bitcoins (BTC). Lerner, who conducted his analysis in 2013, concluded that the hashrate information in that year is consistent with a dominant miner.
In 2013, Lerner hypothesized that Satoshi Nakamoto in 2009 would have mined a million tokens and I endorse it by analyzing the hashrate of the Bitcoin blockchain during that year that constantly remained around 7 MH / Sec. Sergio assumes that in that period of time, Satoshi Nakamoto was the only miner but the community has taken this information with skepticism.
The community says that this evidence is not sustainable since the assumptions of the hardware used by Nakamoto were not correct; the estimate of 7 MH / Seg was from a small sample where the time stamps of the blocks are not reliable. The hypothesis also does not take into account the possibility that Satoshi was not mining alone.
Then, Lerner showed the most sustainable evidence of the "dominant miner" that is the tracking of the ExtraNonce, which was enough for the community to take the hypothesis of Nakamoto's mining work seriously. Although BitMEX also considered that Sergio's initial evidence was weak, the new data was the starting point for his own research.
Bitcoin could reverse the trend depending on its next support
BitMEX decided to replicate Lerner's analysis but with the difference that they would count the extracted blocks and assign the blocks of what they consider would be the Satoshi Nakamoto miner. Despite using a variety of methods to assign the blocks, this was not necessarily accurate, so they say that the research is far from perfect but considers that this is the first attempt to assign these blocks.
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It's like downloading money to your account, I guess. If only I can have 1k of that bitcoin. No Lambo, I just don't have to work every morning. :D
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That's a normal sign for developers who luckily made their project work perfectly in the end. But liquidating all those assets would make prices drop. So its a Hodl and a good way to show that Bitcoin has much coins reserved.