Bitcoin precious information! Satoshi Nakamoto collaborator releases 120 pages of email contact records

Bitcoin has been around for more than ten years, but the true identity of its creator, Nakamoto Satoshi, has always remained a mystery. In recent years, Australian computer scientist Craig Wright has continuously launched lawsuits, claiming to be Satoshi Nakamoto himself. He has always been a controversial figure in the Bitcoin community and is nicknamed "Satoshi Nakamoto". Affected by the lawsuit, Martti Malmi, a developer who once collaborated with Satoshi Nakamoto, recently submitted 120 pages of email contact records to the court. This will allow the court to confirm whether Satoshi Nakamoto is Satoshi Nakamoto. One of my important evidences.

According to the compilation by "Bitcoin Magazine" reporter Rizzo, between 2009 and 2011, Satoshi Nakamoto and Malmi discussed issues such as Bitcoin expansion, mining energy consumption and potential applications. Although the email did not reveal who Satoshi Nakamoto is, there are four remarks worth noting.

1. Bitcoin expansion: Satoshi Nakamoto estimates that there will be up to 100,000 nodes

When asked how it will expand in the future, Satoshi Nakamoto estimated that Bitcoin will have up to 100,000 nodes and delved into the economics of computing and large-scale networks: "When considering large-scale scale, building 100,000 Block nodes are a good estimate. At current prices, propagating a transaction twice throughout the network will consume a total of $0.02 in bandwidth."

Satoshi Nakamoto also added:

“Even if Bitcoin becomes popular at the same rate it grew during the dot-com bubble, it will still take years before it becomes a material part of all transactions. I believe recent hardware has become powerful enough to handle large-scale transactions, but If there's any doubt about that, the bandwidth speeds, prices, disk space and computing power will be much greater."

Note: Rizzo said there are currently only about 50,000 nodes running the Bitcoin network.

2. Bitcoin mining: Satoshi Nakamoto believes that energy consumption is lower than that of banks

Satoshi Nakamoto believes that Bitcoin mining will consume less energy than the traditional banking system:

“Unfortunately, Proof of Work (PoW) is currently the only solution that can make peer-to-peer (P2P) electronic cash work without a trusted third party. PoW is essential for coordinating the network and preventing double-spending attacks. -spending) is very important.”

Satoshi Nakamoto said that even if the Bitcoin network grows to consume a lot of energy, it will still consume less energy than labor- and resource-intensive traditional banks, and its cost will be cheaper than physical buildings, skyscrapers, and junk credit cards. Billions of dollars in bank fees paid are an order of magnitude lower.

Environmental awareness has risen in recent years, and Bitcoin, which requires electricity to be mined, has often been the center of criticism. Many mining companies stated that they have taken environmental actions. For example, Marathon pointed out that they cooperate with energy companies to build clean, green and renewable energy, while Riot emphasized that they use hydroelectric energy in upstate New York.

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However, according to a report made public by Galaxy Digital in 2021, Bitcoin consumes half the energy of banking or gold mining, in line with Satoshi Nakamoto’s insights at the time.

3. Non-financial uses of Bitcoin: Satoshi Nakamoto explores “timestamps”

Satoshi Nakamoto said that someone mentioned whether Bitcoin has a "time stamp" function, which means to prove that a file existed at a certain point in time in the past:

"Bitcoin is a decentralized secure timestamp server for transactions. With just a few lines of code it is possible to create a transaction with an extra hash containing anything that needs a timestamp. I should add a command that says The file is timestamped."

Today, applications that regard blockchain as an "open source notary" are increasingly visible. For example, Japan's "Blockchain Digital Transcript" launched in 2023 uses the blockchain digital certificate standard Blockcerts to record candidates' Scores are recorded on the blockchain, allowing candidates to provide the other party's query URL for verification when interviewing schools or companies.

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4. Bitcoin legal issues: Satoshi Nakamoto worried about being viewed as an investment

Satoshi Nakamoto had worried about whether there would be legal risks when Bitcoin was launched, especially if it was regarded as an investment product, which might attract scrutiny from the authorities. The email also mentioned that the term cryptocurrency was proposed by someone else, not Satoshi Nakamoto.

Satoshi Nakamoto’s worries came to light in the following years. In the first few years after Bitcoin was launched, there were many negative impressions, such as being used for darknet transactions and money laundering crimes.

China issued a notice on preventing Bitcoin risks as early as 2013. In 2017, it banned any ICO (initial coin offering) and domestic cryptocurrency transactions (including Bitcoin). In 2021, it will further crack down on the local mining industry. , comprehensively clean up and shut down the mining business, and the Bitcoin mine in Sichuan also suffered a power outage.

Is there no hope for China to lift the ban? Pan Gongsheng is afraid of becoming the new central bank governor. He once said: "Bitcoin corpses" will drift past!

Does the development of Bitcoin go against Satoshi Nakamoto’s original intentions?

In addition to the above, Satoshi Nakamoto also emphasized in 2 emails that Bitcoin is easy to obtain because it can be mined using a computer, so it can be adopted. This is very different from the current public view of Bitcoin, because the cost of Bitcoin mining is getting higher and higher.

He also mentioned that as the difficulty of mining increases, Bitcoin should remain scarce and people cannot own Bitcoin as much as they want, which will ensure that Bitcoin has a minimum value.

Another email pointed out that Satoshi Nakamoto would hide the transaction fee setting and believed that it was completely unnecessary and would only confuse people. This is also very different from the current understanding, because Bitcoin transactions still require on-chain fees to be paid to miners.

The mysterious departure of Satoshi Nakamoto

In 2010, Satoshi took a brief leave of absence and told Malmi:

"I have been busy with other things in the past month and a half, and I just downloaded the emails from the beginning of April. Most of the things have been sorted out, and I should be able to get back to working on Bitcoin soon."

In addition, before his name was removed from the Bitcoin website, Satoshi Nakamoto sent an email to other developers, but did not mention his intention to withdraw from the Bitcoin project. However, we all later learned that Satoshi Nakamoto stopped showing up after publishing his last article in December 2010, and has been hiding his fame and success ever since.

The "Bitcoin Magazine" reporter finally added that in fact, these emails did not reveal any substantial new content, but for those who are curious about how Satoshi Nakamoto interacted with other Bitcoin developers before leaving, the emails did provide a A whole new angle.