Over 14 years ago, Satoshi Nakamoto unveiled the Bitcoin network to the world, creating the very first triple-entry bookkeeping system known to mankind. This technological wonder, with a current market value of $540 billion, ingeniously integrates encryption and mathematical formulas to fortify its security. In this exploration, we delve into two of the mathematical choices that underpin Bitcoin’s complex architecture, determining block rewards, transaction inputs and outputs, and mining difficulty adjustments, while also regulating the pace at which new blocks are discovered. Whole Numbers at Work: A Look at Bitcoin’s Use of IntegersBitcoin was created using a variety of encryption processes and mathematical formulas, each with a specific purpose. One design element incorporated into Bitcoin is the use of integers, or whole numbers and their negative counterparts.

The Bitcoin network utilizes integer math to prevent potential disagreements that could arise if decimal or fractional numbers were used. The use of whole numbers and their negative counterparts ensures that all computational devices can synchronize more effectively and agree on specific network changes.

The use of integers to maintain Bitcoin’s ruleset includes block rewards and halvings that occur at specific block heights divisible by 210,000. Bitcoin’s mining difficulty also utilizes integers to adjust the difficulty every 2,016 blocks. Integers, a type of numerical data frequently used in computational software, are also employed in Bitcoin transaction inputs and outputs.

Furthermore, integer calculations are generally faster and less prone to error than floating-point numbers. If Bitcoin were to use floating-point numbers, it could introduce rounding errors, leading to inconsistencies and disagreements between different nodes on the network.

Since Bitcoin uses integers, the block reward from a future halving will eventually be truncated or rounded down to the nearest whole number using bit-shift operators or a bitwise operation. Because the smallest unit of Bitcoin is a satoshi, it makes it impossible to halve. As a result, Bitcoin’s much-discussed capped supply of bitcoin will actually be less than 21 million. Regulating Block Times with Poisson DistributionIn addition to integers, Bitcoin employs a Poisson distribution-like mathematical formula to regulate block time consistency. The Poisson distribution model was developed in 1837 by French mathematician Simeon Denis Poisson. Using this model, Bitcoin’s design ensures that blocks are discovered every 10 minutes or so.

The actual time it takes to mine a block can vary due to the probabilistic nature of the mining process, but blocks are typically found within the range of 8 to 12 minutes. Satoshi incorporated a difficulty setting every 2,016 blocks using the formula to maintain the rough average of 10-minute block intervals.

Both integer math and Poisson distribution are essential mathematical tools in Bitcoin, providing a consistent framework for performing calculations and modeling various aspects of the system. Bitcoin employs numerous other mathematical mechanisms and encryption schemes to ensure accuracy, consistency, and efficiency of the system as a whole. These include concepts and formulas such as proof-of-work (PoW), Merkle trees, elliptic curve cryptography, cryptographic hash functions, and finite fields, among others.

What do you think about the mathematical schemes used by the Bitcoin network? Let us know your thoughts in the comments section below.

➖ #Crypto #Bitcoin #satoshinakamoto #satoshi #BTC ➖

Although Australian computer scientist Craig Wright has insisted for years that he was none other than the elusive Satoshi Nakamoto, the creator of the maiden cryptocurrency Bitcoin (BTC), the United Kingdom’s High Court Judge James Mellor has ruled there was no evidence to support his claims.
As it happens, the Crypto Open Patent Alliance (COPA), a non-profit community fighting against patents and litigation that stunt the growth in crypto, took Craig Wright to court last month over his statements that he was the mysterious Bitcoin creator, as well as the author of the crypto asset’s white paper.
‘Not Satoshi Nakamoto’
While presenting the closing submissions that began in London on March 12, the COPA, which fought Wright’s Bitcoin authorship claims in an effort to prevent him from suing other developers or claiming intellectual property rights over Bitcoin’s technology, stated that:

“Dr Wright has been shown to have lied on an extraordinary scale, and it is difficult to think of a precedent for what he has done. He has invented an entire biographical history, producing one tranche after another of forged documents to support it.”
After receiving the closing arguments, Judge Mellor announced his early findings on some key issues and stated that the evidence was “overwhelming” that Craig Wright is not Satoshi Nakamoto, according to the X post published by BitMEX Research on March 14.
The trial is now over.

As the evidence against Craig was so strong, the judged annouced his early findings on some of the key issues at the end of the trial

It is now official from Judge Mellor:

Craig Wright is NOT Satoshi!!!— BitMEX Research (@BitMEXResearch) March 14, 2024
Meanwhile, Michael Saylor, the founder of the business analytics software firm MicroStrategy, who also served as its CEO until August 2022, later transitioning into the role of chairman, and who purchased a substantial amount of Bitcoin on MicroStrategy’s behalf, shared the news on social media:
Craig Wright is not Satoshi.— Michael Saylor⚡️ (@saylor) March 14, 2024
Who is Craig Wright?
As a reminder, Dr Craig Wright is an Australian computer scientist and businessman, as well as the former CEO of the technology firm Hotwire Preemptive Intelligence Group (Hotwire PE), which planned to launch the world’s first Bitcoin-based bank but failed due to regulatory obstacles.
Claiming he is Bitcoin’s creator, Wright went as far as even accusing Apple (NASDAQ: AAPL) of breaching copyright laws after tech writer Andy Baio discovered back in 2023 that the technology behemoth’s macOS operating systems came equipped with their own copy of the Bitcoin white paper.
On top of that, he argued in 2022 that there were people who could confirm that he indeed was Satoshi, although he never revealed who or where these people were. However, he declared that being the founder of Bitcoin “actually makes life harder” and that neither money nor fame motivated him.
Ultimately, the said interview turned sour when the host, Hamish MacDonald, started insisting that Wright produce concrete evidence to support his claims, which seemed to irk Wright, who then proceeded to swear at MacDonald, telling him to “pick up a law book, and look what proof is.”
In roughly the same period, the London High Court refuted Wright’s claims as false in a lawsuit in which Wright accused crypto podcaster and blogger Peter McCormack of libel over stating that he wasn’t Satoshi and that his claims of being Satoshi were fraudulent.
Earlier, in June 2021, Ethereum (ETH) founder Vitalik Buterin also hit out at the self-proclaimed Nakamoto, comparing Craig Wright with the former United States President Donald Trump and daring his lawyers to sue him, as Finbold reported on June 9, 2021.
#satoshi

A satoshi is the smallest unit of a bitcoin. It equals one-hundred-millionth of a bitcoin or 0.00000001 BTC. As such, one bitcoin equals 100 million satoshi. The satoshi was named as an homage to the anonymous creator or creators behind Bitcoin, Satoshi Nakamoto. The satoshi is often abbreviated as sat.1 satoshi = 0.00000001 BTC It’s necessary for a currency to be able to be divided into smaller subdivisions if it aims to act as a global medium of exchange. Fiat currencies can be divided into smaller denominations, such as the penny for the British pound or the cent for the US dollar. Bitcoin, as a digital currency, can also be divided into smaller denominations.As defined by the Bitcoin protocol, a single bitcoin can’t be divided further than 1 satoshi. All amounts on the blockchain are denominated in satoshi but are typically converted to bitcoin by most platforms. However, when considering small fractions of a bitcoin, many platforms will display the value in satoshi for easy readability.Although the satoshi is the smallest unit a single bitcoin can be divided into, some scenarios may require further division of a satoshi. Payment channels, for example, a scalability solution for Bitcoin, may sometimes be denominated in millisatoshi, amounting to one hundred billionths of a single bitcoin. In theory, if needed, the Bitcoin protocol could be updated in the future to allow for further subdivision of a bitcoin.Traditionally, the plural of satoshi has also been satoshi; however, satoshis is also correct and widely used. As of yet, no currency symbol has been widely adopted for the satoshi.1 millibitcoin (mBTC) equals one-thousandth of a bitcoin, or 0.001 BTC.1 microbitcoin (μBTC) equals one-millionth of a bitcoin, or 0.000001 $BTC .#Write2Earn #TrendingTopic #BTC #satoshi

Will Satoshi Nakamoto become the richest man alive❓During the last bullrun Satoshi Nakamoto's BTC networth was 75.6 billion, he owns approximately 1.1 million BTC. Currently he sits around half that amount around ~38 billion.To put that into perspective the richest man on earth at the moment, Elon Musk, has a networth of 232 billion. The 2nd richest man has a networth of 175 billion and the third richest man a networth of 144 billion.What do you guys expect Satoshi Nakamoto's networth to be next bullrun and do you guys think he will become the richest man alive❓#satoshi #SatoshiNakamoto #BTC🔥🔥 $BTC $ETH $BNB