Season 3: Week 6/My Homework for Prof. @awesononso / Satoshi Nakamoto, Wei Dai and Cryptocurrencies units of measurements

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Hi everyone.
First of all.I want to say thanks to respected Prof. @awesononso who gives us a chance of learning more from this platform.
Let me discuss about this week topic.

Question 1

Who is Satoshi Nakamoto?

Satoshi Nakamoto, a great and unknown personality, is the name known as the developer of Bitcoin whitepaper and later for Bitcoin. But, actually, yet nobody knows the real Satoshi Nakamoto.This guy keep its identity hidden from the world. Although, many persons have claimed to be Satoshi Nakamoto but still the reality is under the clouds. However, this name, Satoshi Nakamoto, is known as the founder and inventor of publishing Bitcoin whitepaperoand have paved the way towards the development of cryptocurrencies. It also came to know know that since 2010, this person send an email and told that " I am moving towards other things". From then, this person is under ground but his work has grown well.

Question 2

Write down two theories claimed as Satoshi Nakamoto.

Now a days, crypocurrency has developed enough that many of persons are claiming to be its founder, say the Satoshi Nakamoto. Here we are discussing about only two of them.

1. Harold "Hal" Finney:

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If we search this name on Google, we find that Harold Thomas Finney is a computer engineer.
He is the first person to whom with "Satoshi Nakamoto" made his first transaction. Another name, Dorian Satoshi Nakamoto, was the neighbour of 'Hal Finney'. On the basis of this reality, people considered him as Satoshi Nakamoto but both have denied to be 'Satoshi Nakamoto'.

2. Craig Wright:

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Craig Steven Wright is an Austrailian Nationalist. He is also a computer scientist and businessman. Unlike others, this person did not denied to be Satoshi Nakamoto. However, many journalists and media groups have revealed the truth about him by giving proof that he is not the Satoshi Nakamoto.

Question 3

Who is Wei Dai?

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Wei Dei, a Chinese nationalist, is famous for his contribution to cryptocurrencies and for the graphical representation of cryptocurrencies. He is a computer engineer. He made C++ cryptography and contributed the b-money cryptocurreny system. Due to his excellent contribution in the field of cryptocurrencies, many people labled him as Satoshi Nakamoto but he never accepted to be Satoshi Nakamoto.

Question 4

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).

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Bitcoin Current price now when i was calculating($40,923.29)

1 satoshi = 1/100000000 x 1 BTC
1 BTC = $40,923.29
1 satoshi = 1/100000000 x 40,923.29
1 satoshi= $0.0004092329
1 satoshi = $0.000409 (to 3 s.f)

Question 5

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).

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Either Current price now when i was calculating($2,775.46)

1 Gwei = 1/1000000000 x 1 Ether
1 Ether = $2,775.46
1 Gwei = 1/1000000000 x 2,775.46
1 Gwei = $0.00000277546
1 Gwei = $0.00000278 (to 3 s.f)

Question 6

Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.

(Screenshots with username tag).
Here, I'm going to transfer the minimum amount of steem that a user can transfer to other account. The amount is 0.001 steem.
Below are the screenshots in which I have transferred the minimum amount to @awesononso for completing this task.How I transferred the steem minimum value is mentioned below alongwith step wise pics.

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Here, you can check that I have successfully transferred the 0.001 steem.
Now have a look upon that whether 0.0001 steem can be transferred or not.
For this purpose, I have selected the account of @awesononso and tried to transfer the 0.0001 steem. What happens is showed with the help of below pic.

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In the above pic, we can check that when we enter the 0.0001 steem. Then, this platform does not accept because currently, steem is only supporting the transactions which have 3 decimels. Below from this minimum value, steem platform does not allow. Therefore, we cannot transfer 0.0001 steem because this amount is not enough for transaction of steem.

Special thanks

@awesononso

Conclusion

Santoshi Nakamot is known as the develpor of Bitcoin white paper and crypto currency platform. Yet, many people have argued to show themelves as the Satoshi Nakamoto but nobody knows the reality. However, people like Hal Finney and Craig wright well contributed to the platform of cryptocurrencies. The minimum unit of cryptocurrencies is Satoshi and cryptocurrencies can be easily converted into it by following a simple procedure.

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Hi Prof. @awesononso I have posted my work yesterday but still not cheched

Hello @mubeenaslam,
Thank you for taking interest in this class. Your grades are as follows:

CriteriaCalculation
Presentation/Use of Markdowns1/2
Compliance with Topic1.5/2
Quality of Analysis & Calculations1/2
Clarity of Language1.5/2
Originality1/2
Total6/10


Feedback and Suggestions
  • A little bit more depth is required in your research.

  • You should have mentioned at least one identity theory different from the ones in the lesson.

  • You should work on your presentation and markdown use.

  • Try to be clearer when you write.



Thanks again as we anticipate your participation in the next class.

Thankyou sir, I must follow your suggestion next time.

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