Satoshi Quotes
Numbers/ Dates
People
Business
Dev
100
This quote was written into the Genesis Block of the Bitcoin blockchain and has remained there since its creation:
Q: What is "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."
MORE:
Immutability is one of the key features of Bitcoin and its blockchain technology. Immutable transactions make it impossible for any entity (for example, a government or corporation) to manipulate, replace, or falsify data stored on the network.
100
HALLOWEEN!
On Oct. 31, 2008, a person or a group of people using the pseudonym Satoshi Nakamoto sent a 9-page paper to a mailing list of cryptographers, outlining a “peer-to-peer electronic cash system” called bitcoin. In January 2009, in the aftermath of a worldwide financial crisis, Nakamoto launched the bitcoin network.
100
Referring to 'cRyPtOcUrReNcY," this "Maxi"/ Chad coined the phrase, "There is no '2nd Best!''
Q: Who is "Michael Saylor"
BACK STORY:
Michael J. Saylor is the Executive Chairman of MicroStrategy (MSTR), a publicly traded business intelligence firm that he founded in 1989 that also provides mobile software, and cloud-based services. He is also the founder of Alarm.com (ALRM), named inventor on 40+ patents, & author of the book “The Mobile Wave”. He founded & serves as trustee for the Saylor Academy (saylor.org), a non-profit organization that has provided free education to over 1 million students.
Beginning (relatively recently) in 2020, he became an advocate for the Bitcoin Standard (hope.com). He has dual degrees from MIT in Aerospace Engineering & History of Science.
On MicroStrategy's quarterly earnings conference call in July 2020, Saylor announced his intention for MicroStrategy to explore purchasing Bitcoin, gold, or other alternative assets instead of holding cash. The following month, MicroStrategy used $250 million from its cash stockpile to purchase 21,454 Bitcoin.
In October 2020, Saylor disclosed he personally held 17,732 bitcoin at an average purchase price of $9,882 (today worth over 1/2 a billion dollars) ...<i>but I'm guessing he owns way more by now)</i>
100
As of August 1, 2023, the owner of this wallet(s) holds 152,800 bitcoins!
Q: What is MicroStrategies (MSTR)
MicroStrategy owns 152,800 bitcoins as of August 1, 2023. The total purchase price for the bitcoins was $4.53 billion USD, making an average price of around $29,672 USD per bitcoin.
100
One aspect of Bitcoin's 'Game Theory' was to have a "fixed and finite" supply limit. Satoshi eventually settled upon a specific, round number.
Q: What is 21M
BONUS (LESSER KNOWN FACT):
Pedantically speaking, the limit is 2,099,999,997,690,000 satoshis given that all accounting at the protocol level is calculated in the smallest unit.
200
Complete this famous Satoshi phrase:
"If you don't believe me or don't get it..."
"...I don't have time to try to convince you, sorry."
CONTEXT:
https://www.reddit.com/r/Bitcoin/comments/car30w/if_you_dont_believe_me_or_dont_get_it_i_dont_have/
Nakamoto was busy and preferred spending his time writing code that would improve the Bitcoin network. The above quote was in response to Bitshares’ founder who had made a statement at the time that there was a need for peer banks to allow for fast transactions.
200
0.00000001
Q: What is "one satoshi"
BACK STORY:
"Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge.
But don't worry, there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally. It shows 1.00 but internally it's 1.00000000. If there's massive deflation in the future, the software could show more decimal places." - SATOSHI NAKAMOTO
200
This veteran bitcoiner, Author and Orator coined the popular phrase, "Not your keys. Not your coins."
Q: Who is "Andreas Antonopolous"
200
"Changpeng Zhao" is better known in the 'crypto' community as:
Q: Who is "CZ" - the CEO of Binance (Exchange).
200
In January, 2016, this long-time bitcoin enthusiast and developer officially “rage-quit” the open-source project, making clear a previously quiet departure by slamming the door in the form of an impassioned if highly contentious open letter to the Bitcoin community, and selling his entire bitcoin stash for (assumedly) less than $400 per BTC.
Q: Who is "Mike Hearn"
BACK STORY:
The former Google employee, went so far as to proclaim the bitcoin project had “failed”, a narrative that was seized by global press.
At press time, Hearn’s exit had been profiled by news outlets as diverse and far-reaching as The New York Times, The Guardian, Fusion, PC World and Fortune, all of which emphasized his declaration that the project should be considered dead despite its position as the longest-running blockchain and digital currency with the highest market capitalization.
Some of Hearn’s worst critics pointed to the fact that the event felt like a veiled publicity stunt for his latest project R3CEV, the consortium that had, then, signed up more than 40 major banks that described itself as “part investor, part market facilitator and part product developer in the cryptocurrency and blockchain marketplace”.
By February, 2017, R3CEV, the largest blockchain consortium of banks and technology firms including multi-billion dollar institutions such as Barclays, Credit Suisse, Bank of America, Citibank and HSBC, had seemingly admitted defeat and moved on from blockchain technology development.
TC Note: Hearn has apparently faded into oblivion with a few failed shitcoin projects added to his declined reportoire
300
FILL IN THE BLANK:
"It would have been nice to get this attention in any other context. "________" has kicked the hornet’s nest, and the swarm is headed towards us." - SATOSHI
Q: What is "Wikileaks"
BACK STORY:
Bitcoin History: Wikileaks and the Hornet’s Nest
With those 13 words, Satoshi Nakamoto stepped into oblivion, leaving a blizzard of unanswered questions that would enshroud his disappearance. That ominous message was to prove his penultimate forum post, dispatched a day before his final entry. What happened to put Wikileaks in the crosshairs of Bitcoin’s creator?
Wikileaks Shines a Light on Bitcoin
Satoshi’s words were freighted with such a sense of foreboding that many believe they signified the writing on the wall; a sign that Nakamoto’s tenure as Bitcoin figurehead had reached its inevitable end. His remark that Wikileaks had “kicked the hornet’s nest” referred to the possibility of the controversial whistleblower website turning to bitcoin, after the U.S. government forced companies like Visa, Mastercard and Paypal to blockade the organization. According to an earlier post by Satoshi, the bitcoin project needed “to grow gradually so the software can be strengthened along the way,” and the association with Wikileaks came too early in its development.
As a disoriented Julian Assange attempts to fight extradition to the U.S. in the British courts, having earlier claimed to have made a 50,000% return on bitcoin in the years following Satoshi’s disappearance, it’s interesting to look back to that period – December, 2010 – when Satoshi’s retreat began and Wikileaks’ investment in bitcoin started being seriously discussed. This was a true fork in the road, significant not only to the history of bitcoin but also to state surveillance and those who would kick back at it.
The Man Who Kicked the Hornet’s Nest
You might wonder why Bitcoin’s founder was so alarmed by the news that Wikileaks was seeking to raise funds using the decentralized payment system. After all, bitcoin was designed to bypass gatekeepers and obviate the need for a central authority – and here was a perfect use case to prove its merits.
In response to a forum member positively touting Wikileaks’ embracement of bitcoin, published exactly one week before his final forum post, Satoshi said: “No, don’t “bring it on”… Bitcoin is a small beta community in its infancy. You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage.”
The problem was very clear, as Satoshi saw it: unwanted government interest in the nascent digital currency was the last thing it needed at that point in time. And since just about every other payment gateway was refusing to process donations to Wikileaks, Julian Assange’s solicitation of donations via bitcoin seemed to be a matter of time. At the very least, Satoshi wanted such a move to be discouraged – and he conveyed as much to Assange, as recounted by the latter in a 2014 Reddit Ask Me Anything (AMA) session and also in his book “When Google Met WikiLeaks”:
WikiLeaks read and agreed with Satoshi’s analysis, and decided to put off the launch of a Bitcoin donation channel until the currency had become more established. WikiLeaks’ Bitcoin donation address was launched after the currency’s first major boom, on June 14, 2011.
Interestingly, the besieged organization opened the floodgates for bitcoin donations just two months after Satoshi’s last ever correspondence – an email to collaborator Gavin Andresen.
The rest, as they say, is history: Wikileaks received tens of millions of dollars in bitcoin donations between 2011 and 2018 (the exact figure continues to be disputed), Assange spent years in London’s Ecuadorian embassy before being arrested, and in Satoshi’s absence, Bitcoin was to kick many more hornets’ nests only to emerge, each time, stronger.
300
This is said to be Satoshi Nakamoto's actual birthday
Q: What is 5th of April (1975)
Back Story:
Satoshi entered a birth date when they registered the pseudonym with The P2P Foundation. Satoshi’s birthday is, according to that registration, April 5, 1975. (For proof, Satoshi’s age showed up as 38 on The P2P Foundation on April 4, 2014, and as 40 on April 5, 2015, implying an April 5, 1975, birthday.)
Of course, the Bitcoin faithful have drawn up all sorts of theories about why Satoshi chose this date specifically – besides it actually being their real birthday.
One has to do with the anniversary of Executive Order 6102, when President Franklin D. Roosevelt banned the private ownership of gold on April 5, 1933. Americans handed over gold to the government and, with the Gold Reserve Act the following year, the gold content of the U.S. dollar was increased from $20 to $35 an ounce. Really, that was just a devaluation of the dollar because it now took more dollars to buy the exact same amount of gold.
Was Satoshi winking at us regarding the failure of a government-controlled money? Sure!
Satoshi’s birth year is apparently 1975, which is perhaps a salute to President Gerald Ford who repealed Executive Order 6102 in 1974. (It was effective on Dec. 31, 1974, which is basically 1975, but who’s counting?)
300
What anti-"CBDC" politician and potential Presidential Candidate stated, “You have every right to do Bitcoin!”
Q: Who is "Ron DeSantis"
CONTEXT:
During a glitchy Twitter Spaces conversation with Elon Musk on Wednesday, Florida governor Ron DeSantis pledged to oppose anti-Bitcoin legislation in Congress and underlined his stance against central bank digital currencies (CBDCs).
“The current regime, clearly, they have it out for Bitcoin,” DeSantis said. “And if it continues for another four years, they’ll probably end up killing it.”
“Bitcoin represents a threat to them,” he said, referring to the Biden administration. “They’re trying to regulate it out of existence.”
“You have every right to do Bitcoin,” DeSantis added. “The only reason these people in Washington don’t like it is because they don’t control it.”
His statements were redolent of recent pro-Bitcoin messages from politicians like Robert F. Kennedy Jr. and Tulsi Gabbard at the Bitcoin 2023 conference in Miami earlier this month. Both politicians decried a central bank digital currency while expressing support for the world's largest cryptocurrency.
300
Which CEO (or, of what company stated), “We were the first. The largest company accepting Bitcoin then was a $800,000 a year restaurant diner in Western Australia. We stepped up and started taking it — we were $1.4 billion. So I like to think we saved that community about five years in their adoption cycle”.
Q: Who is "Patrick Byrne" of "Overstock.com"
BACK STORY:
In (February) 2014, Overstock.com became the first large stock company to accept Bitcoins through a partnership struck up with Coinbase.
The transition was partly accidental: in December 2013, Byrne mentioned to a journalist that his company might start accepting Bitcoin. “I said it off the top of my head”, Byrne admits. It was important for him that prior to that conversation - in November 2013, “the feds said that they weren’t gonna redlight [Bitcoin]”. Soon after the interview, he started seeing media outlets from all over the world reporting on Overstock’s potential move. That provoked him to swiftly contact Coinbase, and, in a matter of few weeks, Overstock.com went live with the Bitcoin payment option.
Byrne, being a “scourge of Wall Street” and a self-proclaimed Austrian economist “by background and inclination”, picked up on the idea of a decentralized currency. “When I first heard Bitcoin it reminded me of my feelings about gold”, he recalls. The eccentric businessman went as far as dubbing Bitcoin as the only rescue from the approaching “zombie apocalypse” and handing out Trump-esque “Make Bitcoin Great Again” red caps to his interviewees.
300
Upon his death on August 28, 2014 in Phoenix, Arizona, as a result of complications of ALS, he was cryopreserved by the Alcor Life Extension Foundation
Q: Who is Hal Finney
BACK STORY:
Harold Thomas Finney II (May 4, 1956 – August 28, 2014) was an American software developer. In his early career, he was credited as lead developer on several console games. Finney later worked for PGP Corporation. He also was an early bitcoin contributor and received the first bitcoin transaction from bitcoin's creator Satoshi Nakamoto.
Finney was a noted cryptographic activist.[5] During the early 1990s, in addition to being a regular poster on the cypherpunks listserv, Finney ran two anonymous remailers.[6] Further cryptographic activism included running a (successful) contest to break the export-grade encryption Netscape used.[7]
Finney was involved in the development of the first anonymous remailer, a tool for sending emails with the sender's identity concealed.[8] He was one of the early contributors to this privacy-enhancing technology, which played a significant role in the cypherpunk movement and the broader field of online privacy.[9] This work further demonstrated Finney's commitment to privacy and his significant contributions to the development of privacy-enhancing technologies.
In 2004, Finney created the first reusable proof-of-work system before Bitcoin.[10] In January 2009, Finney was the Bitcoin network's first transaction recipient.
FUN FACT:
Finney lived in the same town for 10 years that Dorian Satoshi Nakamoto lived in (Temple City, California).
He continued to program until his death.
400
Satoshi saw ideology as part of Bitcoin's value proposition. He wrote: "It's very attractive to the libertarian viewpoint if we can explain it properly..."
With what caveat did he complete this thought?
400
184,000,000,000
Q: What is "Bitcoin's (Value) Overflow Incident" (CVE-2010-5139)
On August 15th 2010, Jeff Garzik discovered in block 74,638 that an unknown entity exploited a value overflow bug in Bitcoin's code. This allowed the attacker to create over 184 billion bitcoin amongst 3 addresses, well beyond the 21 million supply cap.
400
This Bitcoin mining advocate is going state-to-state to educate US lawmakers
Q: Who is "Dennis Porter," CEO of the Satoshi Action Fund
BACK STORY:
Porter, who first discovered Bitcoin
BTC
$29,135
in 2017, told Cointelegraph his path advocating the benefits of mining has taken him to support bills in at least six U.S. states, with federal lawmakers also in his crosshairs. The Satoshi Action Fund CEO met with U.S. senators and representatives on Jan. 25 in support of proposed legislation aimed at eliminating discrimination against miners.
According to Porter, the Lummis-Gillibrand Responsible Financial Innovation Act — a bill introduced in June aimed at addressing the roles of the U.S. Commodity Futures Trading Commission and Securities and Exchange Commission on crypto regulation — has a provision addressing taxation for BTC mining rewards. He said the legislation could close a loophole allowing the Internal Revenue Service to have two bites of the apple on miners’ revenue.
“We believe that Bitcoin mining is being unfairly targeted and double taxed by the IRS currently,“ said Porter.
The conversations between Porter and members of Congress — including Senators Ron Wyden, Cynthia Lummis and Ted Budd — marked the first time the Satoshi Action Fund had stepped up in person to the national stage in defense of BTC miners. However, the organization has also stood behind bills being considered in New Hampshire, Montana, Mississippi, Missouri and Oklahoma.
Crypto mining operations in the United States have many critics among lawmakers and citizens alike, with complaints about the energy consumption of proof-of-work cryptocurrencies like Bitcoin as well as the noise pollution from crypto-mining machines. In November, New York Governor Kathy Hochul signed into law a two-year moratorium on PoW mining.
Porter added leaders in Montana have attempted to push miners out using zoning laws and considered policies including higher electricity rates. The legislatures in Mississippi and Missouri have separately introduced bills aimed at protecting certain activities of miners following visits from the Satoshi Action Fund, while Texas is home to many major blockchain firms following a crackdown in China.
“We’re just going to keep pushing hard until we get actual policy passed,” said Porter.
400
According to Intl. Fraud Attorney and Investigator, Dr. Jonathon Levy, in May 2015 this person acquired 4 thumb drives from an Emirati royal, Sheikh Saoud bin Faisal Al Qassimi, the son of a wealthy business tycoon, containing an astonishing 230,000 BTC (worth approximately $50M at the time)
Q: Who is Dr. Ruja Ignatova (of "Onecoin" Ponzi fame)
BACK STORY:
The 'Bitcoin deal'
This most tantalising claim made in Dr Levy's legal case, after obtaining copies of leaked documents allegedly from Dubai's courts, is that a massive Bitcoin deal was struck with an Emirati royal, Sheikh Saoud bin Faisal Al Qassimi, a member of the royal family ruling Sharjah in the United Arab Emirates (UAE).
The files further suggest that in 2015, Sheikh Saoud gave Dr Ruja four USB memory sticks containing 230,000 bitcoin - worth €48.5m ($50.5m) at the time.
In return, Dr Ruja handed over three cheques to Sheikh Saoud from Mashreq Bank, totalling around 210m Emirati dirhams, roughly €50m.
Prior to the alleged deal, Dubai's Mashreq Bank had begun closing Dr Ruja's accounts amid money-laundering concerns ...so the cheques were unable to be cashed!
The 230,000 bitcoins were estimated to be worth $1.21bn when Ignatova vanished into thin air in 2017. Their value rose to almost $15bn in November 2021. In addition to the virtual bags (BTC), Ruja's brother, Konstantin (in US custody since Jan. 2019), she also bailed with $500,000,000 dollars in cash(!)
Ignatova could be the largest holder of bitcoin tokens, with an estimated value of $5bn as of July.
Al Qassimi sought in April to get the cheques' money paid to him from Ignatova's funds in Mashreq Bank, according to Dubai Court of Appeal records seen by the BBC. But as Igantova remains missing, it is unclear if he will ever see his money.
Last year, the FBI put Ignatova on the "Ten Most Wanted Fugitives List" for "allegedly leading a fraud scheme that affected millions of investors worldwide", making her the 11th woman placed on its "10 Most Wanted List" during its 72-year history.
In addition, the FBI has announced a $250,000 reward for information leading to her arrest.
If arrested, she faces over 90 years in prison.
ALSO SEE:
https://www.innercitypress.com/sdnypress26onecoinschneidericp051221.html
400
He developed the phrase and concept of "smart contracts" with the goal of bringing what he calls the "highly evolved" practices of contract law and practice to the design of electronic commerce protocols between strangers on the Internet
Q: Who is "Nick Szabo"
BACK STORY:
In 1994, he wrote an introduction to the concept and, in 1996, an exploration of what smart contracts could do. Nick Szabo proposed a digital marketplace built on these automatic, cryptographically secure processes.
Viewed as a potential Satoshi Nakamoto, in 1998, Szabo designed a mechanism for a decentralized digital currency he called "bit gold".[11][12] Bit gold was never implemented, but has been called "a direct precursor to the Bitcoin architecture.
500
FINISH THIS SATOSHI QUOTE:
"Lost coins only make everyone else’s coins worth slightly more..."
Q" WHAT IS, "...Think of it as a donation to everyone."
500
"2016" _____ (not the year)
Q: What is "Bitcoin Mining Difficulty Adjustment"
CONTEXT:
Bitcoin's mining difficulty is updated every 2,016 blocks (or roughly every two weeks). This is why each 2,016 block interval is called the difficulty epoch, as the network determines whether the activities of miners for the last two weeks have reduced or increased the time it takes to mine a new block.
500
WHO IS?
________________ is an American startup founder. He is co-founder of the bitcoin company Coinapult, worked as Director of Marketing at BitInstant, and was founder and partial owner of the bitcoin gambling website Satoshi Dice (subsequently sold in July 2013 to an undisclosed buyer).
____________is an American startup founder. He is co-founder of the bitcoin company Coinapult, worked as Director of Marketing at BitInstant, and was founder and partial owner of the bitcoin gambling website Satoshi Dice (subsequently sold in July 2013 to an undisclosed buyer).
Background
Originally from Colorado, _______ later moved to Dubai, Panama, New York City and New Hampshire, becoming a participant in the Free State Project. According to a US court order in a SEC case, _______ is a US citizen as of 3 June 2014. ______ keeps his assets and finances in bitcoin.
Career
__________ is the founder and former CEO of Coinapult, a company that transfers bitcoin via SMS and email. He previously founded Satoshi Dice. ______' company SatoshiDice has been criticized for its high level of gambling traffic, which vastly increased the amount of data stored in the bitcoin "block chain". On March 8, 2013, he was interviewed on noted financial commentator Peter Schiff's podcast by Tom Woods about bitcoin as an alternative currency. He appears a number of times in the film Banking on Bitcoin, including in the opening shot.
In July 2013, __________ sold Satoshi Dice to an anonymous investor for 126,315 bitcoins, valued at $11.5 million US (valued at $656,800,000 US as of April 28, 2019), and described as the "first big Bitcoin acquisition". He was fined US $50,000 by the Securities and Exchange Commission for selling unregistered securities.
_________ and Charlie Shrem ran BitInstant which counted the Winklevoss twins as investors.
__________ was investigated by the SEC for his involvement with Salt Lending Platform's Initial coin offering and the SEC investigated if his serving on Salt's board violated the terms of his earlier settlement 2014 with the SEC. _______ noted he was an early contributor but not longer serves in any formal capacity with Salt.
In 2019 __________ commented Facebook's Libra (cryptocurrency) was a sign of a maturing industry and he would consider supporting it at Shapeshift.
Q: Who is "Erik Voorhees"
500
_____________ is an American investment management firm based in St. Petersburg, Florida, that manages several actively managed exchange-traded funds (ETFs). It was founded by Cathie Wood in 2014. At the height of February 2021, the company had $50 billion in assets under management. By May 2022, assets had dropped to $15.9 billion, after a period of poor performance.
Q: What is "Ark Invest"
500
As a pioneer of early digital asset research similarly as Wei Dai, David Chaum, and Hal Finney, in 1997, this man invented "Hashcash" - a similar system which is used in bitcoin.
Q: Who is "Adam Back"
BACK STORY:
Adam Back (born July 1970) is a British cryptographer and cypherpunk. He is the CEO of Blockstream, which he co-founded in 2014. He invented Hashcash, which is used in the Bitcoin mining process.
Back was born in London, England, in July 1970.[1] His first computer was a Sinclair ZX81. He taught himself Basic, and spent his time reverse engineering video games, finding decryption keys in software packages. He completed his A levels in advanced mathematics, physics and economics.
He has a computer science PhD in distributed systems from the University of Exeter.[2] During his PhD, Back worked with compilers to make use of parallel computers in a semi automated way. He became interested in pgp encryption, electronic cash and remailers. He spent two thirds of his time working with encryption. After graduation, Adam spent his career as a consultant in start ups and larger companies in applied cryptography, writing cryptographic libraries, designing, reviewing and breaking other people's cryptographic protocols.
Back was one of the first two people to receive an email from Satoshi Nakamoto.[22][2] In 2016, the Financial Times cited Back as a potential Nakamoto candidate, along with Nick Szabo and Hal Finney.[23] Craig Wright had sued Back for stating that Wright was not Nakamoto, with Wright subsequently dropping the suit.[2]
Back has promoted the use of satellites and mesh networks to broadcast and receive bitcoin transactions, as a backup for the traditional internet