Steemit Crypto Academy [Beginners’ Level] | Season 3 Week 6 | Satoshi Nakamoto, Wei Dai and Cryptocurrency Units of Measurement From prof. @awesononso by @jollybake

Hello steemians, it's been a long time I'm here because for seven days now I've been in NYSC Orientation camp and those of us that passed through the system in Nigeria, will agree with me that the camp is a definition of stress itself.

I want to say a big thanks to professor @awesononso for the precise and informative lecture given and I want to say keep up the good work and God will continue to bless you.

• Who is Satoshi Nakamoto ?

Everything under the sun has a beginning, as such it has a person who made it come to existence.

So, Bitcoin has a beginning and was created by a man or a woman or a group of people called Satoshi Nakamoto.

According to the lecture by professor @awesononso and other article online, Satoshi Nakamoto is not linked to any face because it is a fictitious name that a person or group assumes for a particular purpose, which differs from their original or true name. ^source

Some people like Australian Craig Wright when suspected, claimed to be Nakamoto in 2016, but after thorough investigation and research was carried out, it was discovered that he lied and was termed a fraud afterwards.

• Write on two claims/theories of Satoshi Nakamoto’s identity.

Elon Musk, co-founder of PayPal, Tesla boss and CEO of Space Exploration Technologies, was a big suspect also, to be the mysterious creator of Bitcoin who has not been identified since its creation.

A reporter by name Sahil Gupta made a post on the 28th of November, he speculated the idea that based on Musk’s history of innovation across tech disciplines, his understanding of economics and cryptography and his coding abilities, it was possible that he was the author of the original that proposed a peer-to-peer electronic cash system.

^source

Elon musk responded to the speculation by the reporter by saying that he is lot of things. Billionaire, space adventurer, transport revolutionary, but not, he says, the inventor of Bitcoin.

Nick Scabo was another man suspected to be the legend mystery bitcoin created, this claim was put forward by an author Dominic Frisby in his publication titled "the future of money", he (Frisby) consulted an expert who proved that Scaby writing style matches that of Nakamoto.

^source

Another clue is in the person (Carl Menger) that Szabo and Satoshi reference in their work.
In addition, Frisby learned Szabo had worked for DigiCash, an early attempt to bring cryptography to digital payments.22 In the author's eyes, this strongly suggested Nick Szabo is Satoshi Nakamoto.

The research by financial author Dominic Frisby provided circumstantial evidence but, Nick Szabo denies saying that no proof exists that Satoshi is Szabo.

In a July 2014 email to Frisby, Szabo said "I'm afraid you got it wrong doxing me as Satoshi, but I'm used to it.

With the above statement made by the Nick Szabo himself, I come to a conclusion that Nick Szabo is not Satoshi Nakamoto.
Which leaves the originator of BITCOIN to still be a mystery.

^source

• Who is Wei Dai?

Wei Dai was born on May 3, 1963 in Beijing. Son of Xianda and Rongfa (He) Dai. arrived in Australia, 1991.

^source

Wei Dai bagged his Bachelor of Science degree from the University of Washington in computer science, with a minor in mathematics.

^source

Wei Dai is a computer engineer who created the b-money system and the Crypto++ cryptographic library.

Wei Dai, is also a world renowned cryptographer, who created cryptographic algorithm schemes for the programming language C++, who maintains Crypto++ even till this day.

Because of the similarities in the money system and Bitcoin and due to the fact that Satoshi Nakamoto credited Dai’s b-money in the white paper, bitcoin enthusiasts began to speculate that he is the founder of BITCOIN since the launch of Bitcoin network in 2009. But the assertion was not proven to be true.

• What is the current value of Bitcoin on the day you are performing this task? Calculate the USD value of one satoshi of the current value. (Show full working and to 3 s.f).

The current value of bitcoin on the day of performing this transaction is
$38,790.88. As shown in the image below

^source
Solution
1 satoshi = 1/100000000 x 1 BTC
1 BTC = $38,790.88
∴ 1 satoshi = 1/100000000 x $38,790.88
1 satoshi = $0.0003879088
1 satoshi = $0.000388(to 3 s.f)

• What is the current value of Ether on the day you are performing this task? Calculate the USD value of one Gwei of the current value. (Show full working and to 3 s.f).

At the time of performing this transaction,1 Ether is $2,782.48
As shown

^source
Solution
1 Gwei = 1/1000000000 x 1 Ether
1 Ether = $2,782.48
∴ 1 Gwei = 1/1000000000 x $2,782.48
1 Gwei = $0.00000278248
1 Gwei = $0.00000278 (to 3 s.f)

• Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.
  (Screenshots with username tag).

To transfer steem to an account first of all login to my account and then I go to wallet.

From wallet, I go to steem option and I chose transfer, then it redirected me to where I imputed the username of the account I'm transferring the steem to.

A screenshot showing, the transfer of steem to another account.

Screenshot showing confirmation of the transaction

Screenshot to show that the steem was received successfully.

Below is a screenshot showing invalid transaction, due to the fact that in steemit wallet, all transactions is kept in three decimal places.

It is even indicated in red ink that, it is only three decimal places that is acceptable.

• Conclusion

Up until today Satoshi Nakamoto identity still remains a mystery to cryptocurrency enthusiasts.

Steemit wallet works in three decimal place options.

Thanks once again professor @awesononso for this great opportunity.