As much as we like to know the true identity of real satoshi but we are now contented of bitcoin's achievements for past years and for sure he is also happy about it.
Any news about the identity of Satoshi will not interest anymore because we are comfortable in our position, Bitcoin is well adopted now the price is moving up, this is the uniqueness of Bitcoin the project is moving without the creator around us so we are all Satoshi Nakamoto we can all make happens for Bitcoin. I agree as long as Satoshi doesn't come out AND liquidate his potential 1 M bitcoin holdings from the early years that have not been untouched....that would NOT be a positive thing.  Even if he still has access to those coins (I personally suspect most are burned) I highly doubt he would destabilize his beautiful bitcoin baby. |
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You should update your Bitcoin core client, 0.19.0.1 and latest version won't derive an address from P2PK outputs using decoderawtransaction or getrawtransaction "TXID" "true". For example Block #1 coinbase:
output scriptPubKey (HEX) --> base 58 address, i.e.,
410496b538e853519c726a2c91e61ec11600ae1390813a627c66fb8be7947be63c52da7589379515d4e0a604f8141781e62294721166bf621e73a82cbf2342c858eeac -->12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX
If you want to get the address despite the fact that it shouldn't be converted into an address, you can convert it through any " pub key to address" code that supports uncompressed pub key using the public key which is in that scriptPubKey ( highlighted): 41 - push 65 bytes to stack 0496.............58ee - Public key ac - OP_CHECKSIG Thank you nc50lc and pooya87 for the help. I am not using bitcoin core client, but instead I am trying to learn about bitcoin's early blockchain at a lower level by parsing the blockchain files. It was real early uncompressed pubic key usage that was throwing me off, but with your pointers I was able to figure it out. It is unfortunate that all blockchain viewing websites use the 'address' label so often. I think I understand now what they call an 'address' (i.e., 12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX) is really a Base 58 encoded rendering of the 160-bit (i.e, 20 byte) ripemd160 hash of the public ECDSA key with network byte prefix. Is that getting closer? In any case it was the really early uncompressed 64 byte public key (with '04' prefix) that was confusing me, but your tips and the following useful site helped me to write the python code that works for the early blockchain files. I know it won't work beyond the first couple of years. After the initial uncompressed 64 byte public key usage, the pubkey appeared to transition quickly to the 20 byte ripemd160 hash so my decode entry point for those was #4 instead of #2 below: http://gobittest.appspot.com/Address1 - Public ECDSA Key 0496B538E853519C726A2C91E61EC11600AE1390813A627C66FB8BE7947BE63C52DA7589379515D 4E0A604F8141781E62294721166BF621E73A82CBF2342C858EE2 - SHA-256 hash of 1 6527751DD9B3C2E5A2EE74DB57531AE419C786F5B54C165D21CDDDF04735281F 3 - RIPEMD-160 Hash of 2 119B098E2E980A229E139A9ED01A469E518E6F264 - Adding network bytes to 3 00119B098E2E980A229E139A9ED01A469E518E6F26 5 - SHA-256 hash of 4 D304D9060026D2C5AED09B330B85A8FF10926AC432C7A7AEE384E47B2FA1A670 6 - SHA-256 hash of 5 90AFE11C54D3BF6BACD6BF92A3F46EECBE9316DC1AF9287791A25D340E67F535 7 - First four bytes of 6 90AFE11C 8 - Adding 7 at the end of 4 00119B098E2E980A229E139A9ED01A469E518E6F2690AFE11C 9 - Base58 encoding of 8 12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJXJust in case anyone else is interested in the python code the mirrors the above logic that seems to work well for the outputs scripts found in the EARLY blockchain file. It takes 160-bit RIPEMD-160 hash as an input adds the network bytes prefix for mainnet ('00') and outputs the base 58 rendition: import hashlib
import binascii
import base58
def Ripe160HashtoBase58(ripemd160hash):
d = int('00' + ripemd160hash+ hashlib.sha256(hashlib.sha256(binascii.unhexlify('00' + ripemd160hash)).digest()).hexdigest()[0:8],16)
return '1' + str(base58.b58encode(d.to_bytes((d.bit_length() + 7) // 8, 'big')))[2:-1] Ripe160HashtoBase58(' 119B098E2E980A229E139A9ED01A469E518E6F26') --> ' 12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX' when faced with the uncompressed pubkey starting with the '04' (following the '41' size byte) like the above example I extract the 130 hex byte public key and generate the ripemd160hash (steps 2 & 3) before feeding it to the function above. ripemd160 = hashlib.new('ripemd160')
ripemd160.update(hashlib.sha256(binascii.unhexlify(130hexbytePK)).digest())
ripemd160hash = ripemd160.hexdigest () |
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how do I technically extract the address from the output scriptPubKey for early coinbase transactions? bonus credit if python code  For example Block #1 coinbase: output scriptPubKey (HEX) --> base 58 address, i.e., 410496b538e853519c726a2c91e61ec11600ae1390813a627c66fb8be7947be63c52da758937951 5d4e0a604f8141781e62294721166bf621e73a82cbf2342c858eeac -->12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX Thanks in advance! https://www.blockchain.com/btc/tx/0e3e2357e806b6cdb1f70b54c3a3a17b6714ee1f0e68bebb44a74b1efd512098{
"txid": "0e3e2357e806b6cdb1f70b54c3a3a17b6714ee1f0e68bebb44a74b1efd512098",
"hash": "0e3e2357e806b6cdb1f70b54c3a3a17b6714ee1f0e68bebb44a74b1efd512098",
"version": 1,
"size": 134,
"vsize": 134,
"weight": 536,
"locktime": 0,
"vin": [
{
"coinbase": "04ffff001d0104",
"sequence": 4294967295
}
],
"vout": [
{
"value": 50,
"n": 0,
"scriptPubKey": {
"asm": "0496b538e853519c726a2c91e61ec11600ae1390813a627c66fb8be7947be63c52da7589379515d4e0a604f8141781e62294721166bf621e73a82cbf2342c858ee OP_CHECKSIG",
"hex": "410496b538e853519c726a2c91e61ec11600ae1390813a627c66fb8be7947be63c52da7589379515d4e0a604f8141781e62294721166bf621e73a82cbf2342c858eeac",
"reqSigs": 1,
"type": "pubkey",
"addresses": [
"12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX"
]
}
}
]
} |
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The following quote is from a thread six years ago during the period when ETH was going IPO. Obviously ETH has proven to be a very successful alt-coin and a great investment for most investors, but I am curious about the future issuance of ETH coins since ETH does not have a hard max coin limit like bitcoin. If I understand correctly, annual issuance of ETH capped at 18,000,000 per year. The Ethereum white paper ( https://ethereum.org/en/whitepaper/), argues that over time the ETH supply growth rate trend towards zero. In hindsight, any thoughts about how ETH's coin issuing model is doing today? Has the ETH 'team' injected more coins over the years "to address other issues that may arise" or have they showed reasonable constraint? Any predictions on what it will mean to ETH's value in the next 6 years? Man...i have just opened the Terms and Conditions page :
"....for technical reasons EthSuisse may need to change the annual rate of new creation to a value lower than 26% to account for changes to the Ethereum mining algorithm or to address other issues that may arise. There is no guarantee that this percentage will be accurate or that this rate will continue at the same level....."
For FIAT, a 25% inflation rate would spell disaster. But not even 26% is guaranteed. Unbelievable !!!!
26% of ETH sold in the IPO is the guaranteed maximum. Since the yearly inflation is a fixed amount of ETH, it is a decreasing percentage as the years go by, and will at some point become less than even the few % of ETH that inevitably gets lost every year.
2. The team can "inject" anytime any qty of coins into the market "to address other issues that may arise".
3. Ethereum is issued by "the team", not by the network. Nothing is hard-coded. There is no guarantee that the team will not inject 10.000.000 ether to "maintain" the network stability on the "long term".Do you really think that bitcointalk's readers are retarded  You tell me that "26% of ETH sold in the IPO is the guaranteed maximum.", when the he TOS states that "There is no guarantee that this percentage will be accurate or that this rate will continue at the same level". The real problem is that issuing new ether coins is NOT a transparent, hard-coded process. It's up to Vitalik and his team how much coins are going to be created next month. A lot of smart people are reading this forum. Do you think they are all blind ?? |
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If we look back at the developing about the price before and many of good news of its recently, I am not very amazing about the price increasing a few days recently. May be, the spring will come back to the crypto market soon
in the autumn, everything will depend on what kind of situation will be in the global financial market. if we will see the second wave of the coronavirus and a new wave of the financial crisis, then the cryptocurrency market will return to a bearish phase I second your opinion, IMHO US stocks have rebounded much more than they should considering the financial state of the economy so I almost expect another crash regardless, but a second wave appears likely (that is if you even believe we are finished the first wave in the US  ). When the cryptocurrency market reacts negatively again I will take advantage of the buying opportunity like I did in the spring. |
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I have noticed many of the alts but ETH is truly a strong competitor in crypto market, over the past few days ETH is showing some great signs which means the price is pumping.
The price have also break new yearly high, eth is absolute gem for Investment. I am sure it is all set to break $300k barrier some interesting story is about to come in this crypto market, let's wait and watch...
Eth is the second most popular coin next to bitcoin. I really want to hold eth because aside from lower price it has very high potential coin. A lot of alts have grown in price while price of bitcoin is steady in lower price, if this price of bitcoin will increase alts price will go down dipper. This is what I have observe. Better but some alts now or trade potential alts while bitcoin price is sleeping. I like ETH, but I wish it had more of a hard cap like bitcoin. With 111.9M ETH currently liquid and in circulation (according to Coinbase) and more being issued with no hard cap isn't there a significant risk that the supply will exceed demand driving the price down? |
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How fancinating! Thank you nc50lc ---the original article you pointed out is much more interesting and informative than what is currently available. |
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when do folks think ETH staking will be available in production? I have heard wildly different date estimates, but with recent announcement that Ethereum 2.0 final Testnet is set to Launch on August 4, I am hoping sooner than later.
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FYI Here is Satoshi's own explanation to Mike Hearn (via email) back in April 2009 about why the 21M coin cap. Doesn't ask your question exactly, but I enjoyed the insight into what Satoshi was thinking at the time: from Mike Hearn: How did you decide on the inflation schedule for v1? Where did 24 million coins come from? What denominations are these coins? You mention a way to combine and split value but I'm not clear on how this works. For instance are bitcoins always denominated by an integer or can you have fractional bitcoins? Satoshi response: My choice for the number of coins and distribution schedule was an educated guess. It was a difficult choice, because once the network is going it's locked in and we're stuck with it. I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that's very hard. I ended up picking something in the middle. If Bitcoin remains a small niche, it'll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there's only going to be 21 million coins for the whole world, so it would be worth much more per unit. Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000. There's plenty of granularity if typical prices become small. For example, if 0.001 is worth 1 Euro, then it might be easier to change where the decimal point is displayed, so if you had 1 Bitcoin it's now displayed as 1000, and 0.001 is displayed as 1.
Later Mike asked Satoshi a follow-on question Dec 27, 2010: Specifically, BitCoin has a variety of magic numbers and neither the code nor the paper explain where they came from. For example, the fact that inflation ceases when 21 million coins have been issued. This number must have been arrived at somehow, but I can't see how. Satoshi response and Mike's follow-on question: >> Educated guess, and the maths work out to round numbers. I wanted something that would be not too low if it was very popular and not too high if it wasn't.
It'd be interesting to see the working for this. In some sense the number of coins is arbitrary as the nanocoin representation means the issuance is so huge it's practically infinite. Satoshi's final response on the topic on Jan 10, 2011: It works out to an even 10 minutes per block:
21000000 / (50 BTC * 24hrs * 365days * 4years * 2) = 5.99 blocks/hour
I fudged it to 364.58333 days/year. The halving of 50 BTC to 25 BTC is after 210000 blocks or around 3.9954 years, which is approximate anyway based on the retargeting mechanism's best effort.
I thought about 100 BTC and 42 million, but 42 million seemed high.
I wanted typical amounts to be in a familiar range. If you're tossing around 100000 units, it doesn't feel scarce. The brain is better able to work with numbers from 0.01 to 1000.
If it gets really big, the decimal can move two places and cents become the new coins. Pure BTC genius  |
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...but I still do believe that we reach another ATH in the future once this global pandemic is over.
why do you think once the global pandemic is over Yamifoud? I wounder if the pandemic will generate even more interest as an inflation edge/diversification investment considering all of the world's economies are printing more and more money because of all of the pandemic related costs. Because we can see a global recovery since for sure all will resumes to their job and businesses, and if people will have money for sure they will come to their investments and might bitcoin will get a benefit on it. Remember we are still on the hype of halving so might this one will be bring up until next year and maybe we can see some good result. a good counterpoint ultrloa...in other words during this crisis people, in general, have less money to invest and/or are less sure of their financial future. Therefore, investing in speculative/historically volatile bitcoin that is still poorly understood by the average investor is less likely. I follow you both now, thanks. |
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...but I still do believe that we reach another ATH in the future once this global pandemic is over.
why do you think once the global pandemic is over Yamifoud? I wounder if the pandemic will generate even more interest as an inflation edge/diversification investment considering all of the world's economies are printing more and more money because of all of the pandemic related costs. |
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It would be great if it (analysis) does happen we're here at 9k for too long days after the halving, too boring, actually. It would be great if the price will remain more volatile for now which is expected to increase after the halving (as what the history did though it could be different for this halving) but now, the price seems stable.
completely agree...bring back the volatility! It will be interesting to see how bitcoin reacts to the next serious market dip that I expect to come...hopefully it won't follow it down again (or maybe I hope it will and I will buy on the temp dip!) Ranging in $9k price is not bad, at least they're still a fluctuations that make the price volatile movement but does not that much. I like to read those article that very optimistic about the price, --they are encouraging newbie as well to hold at the moment. Stabilizing at $9,000 range isn't the only thing that's good even at this current crisis. The fact that Bitcoin didn't show any bearish signs even If it's retesting the $8,900 support level several times, but still managed to close out above support level is considered even a good sign that Bitcoin might rally in the coming months. A lot of investors are optimistic in the post halving. What's interesting to see is when Bitcoin will break the $10,000 barrier again and what would be the next movement. Until we don't see such price touches $10k it will always be just a speculation for others but I like your optimism although we don't really know yet when it will touch at $10k. Bitcoin is kind of staying back and forth at $9000+ to $9200+ over a week, I wonder if this $9k-ish will be ever gonna stop to see $8k or $10k. We have had it already before it's just that we were just too lucky to see such price staying at $9k level over the past few weeks. This is what bitcoin makes an exciting journey for all of us. Been decade of speculating and all, yet, no one can predict the exact price in the market. Even self-proclaimed experts doing their TAs and other types of analyses, they still can't get precise prediction. But we all believe that someday, bitcoin will go up and that idea keep us here in crypto. you are right tippytoes...I am a long term bull myself, but it still more fun to watch it bucking then this boring 'consolidation' style movement  |
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a bit confused, david chaum had two projects, before was elixxir in march this project got funding from ICO reaching $ 17 M and now it looks like the team from elixxir is still focused on developing their project and haven't thought about listing issues on exchange, and now david chaum is making another new project I hope both of these projects can run smoothly.
yes, a lot of people waiting to trade elixxir on exchange but until now this coin has no exchange to trade, and now david chaum want to launch other crypto i hope this is only a rumours I second the confusion, but I am really just starting to take a look at what Chaum's company is proposing/offering recently so I am really ignorant at this point and interested if anyone has more details. Can you clarify what your mean by "trade elixxir on exchange" This article makes it sound like elixxir is the blockchain platform: Is "Praxxis, is built on Chaum’s Elixxir blockchain platform and will be mainly used for payments" |
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It would be great if it (analysis) does happen we're here at 9k for too long days after the halving, too boring, actually. It would be great if the price will remain more volatile for now which is expected to increase after the halving (as what the history did though it could be different for this halving) but now, the price seems stable.
completely agree...bring back the volatility! It will be interesting to see how bitcoin reacts to the next serious market dip that I expect to come...hopefully it won't follow it down again (or maybe I hope it will and I will buy on the temp dip!) |
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Also thank you for the source data, it gives me something new to explore and something new to learn. Just a side note, I have several coin on Paper wallets ...that are stored for many years now... so that does not mean that they are lost, because there are no movement. (I did not even extract the forked coins from these wallets, because I do not want to risk it)
Congrats on being an early miner! When did you first start mine? If do you recall the blocks you mined if pre 50,000 (i.e., before May 2010)? Unless you are running a bitcoin node and have them already, you will have to download the blk*.dat files to analyze. Since I was interested in exploring the earliest I focused on blk0000.dat. While likely you can obtain these files from a number of sources, I successfully downloaded the first 5 files from here: https://github.com/garethjns/PyBC/tree/master/pybit/Blocks It all depends on what you want to 'explore'. My objective was to learn Python using large data sets so I decided to explore bitcoin's blockchain. There are a number of blockchain parsers available. Since I am learning python (using free opensource IDE Spyder) I tried a few python parsers especially those that exposed enough of the details so I could get my hands dirty. I then loaded a subset of the extracted data in SQLLite (free opensource) database for analysis. Good luck with your exploration! |
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I am continuing to explore the early bitcoin blockchain using blk00000.dat covering 2009-01-03 to 2011-04-24 time period. ~~ - 1) extracted 119,965 coinbase transactions from blk00000.dat each mining 50 bitcoins using a single output address (only 73 had multiple so I ignored them for these calculations) using pyblockchain's BlockchainFileReader
Ok, stupid question... You are saying you are looking at 119,965 Coinbase transactions (covering 2009-01-03 to 2011-04-24) but Coinbase was only established in July 2011. Coinbase has it's own internal database, so I reckon you are not looking at that, but rather data provided by them from the Bitcoin BTC Blockchain for that period? Can you post a link to your source data please? Thanks for taking the time to read the thread! Do you mean Coinbase the company founded in June 2012? If so I was confused about the same thing. https://en.bitcoin.it/wiki/Coinbase_(business) Coinbase, the company, was named after a bitcoin coinbase transaction: Coinbase
The coinbase is the content of the 'input' of a generation transaction. While regular transactions use the 'inputs' section to refer to their parent transaction outputs, a generation transaction has no parent, and creates new coins from nothing.
The coinbase can contain any arbitrary data. The genesis block famously contains the dated title of a newspaper article in The Times:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
From<https://en.bitcoin.it/wiki/Coinbase> Here is the genesis coinbase block transaction for example: https://www.blockchain.com/btc/tx/4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33bI got my data from extracting these coinbase transactions out of a copy of the first bitcoin blockchain data file (blk00000.dat) |
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TheArchaeologist, you rock...thanks you for digging some more up. Edit: *sigh*  yet another great thread from 2014 that I hadn't stumbled on before exploring a very similar line of inquiry. I will try to absorb it too and build (where I can) rather than repeat/rehash past discussions. Thank you all for your patience and indulgence. |
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To help try to support/debunk the "patoshi" lines as THE Satoshi, I attempted to gather the few 'known' early non-Satoshi blocks and see what they can tell us. Hal Finney (RIP ) and theymos were kind enough to share screen shots of their earliest transactions in past threads. I transcribed them all, resolved each funding block, and mapped them using satoshiblocks.info (see below). Sources:Hal's early Mined blocks/accounts --> https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FKjGZOoR.png&t=615&c=47KeLAG24YRF9w(sorry just a newbie so I can't include actual screen shots )appearing in Taras's wonderful 'Payment No. 1: A Closer Look at the Very First Bitcoin Transfer' thread: https://bitcointalk.org/index.php?topic=2346992.0This thread also IDs block #9 attribution to Satoshi and identifies the likely reason block #9 was used to 'gift' bitcoins from Satoshi to Hal. Do I get to be Satoshi too? I was off by only a few days... https://i.imgur.com/w57rtbs.pngI know first-hand that there were several different people who mined before January 2010. It's kind of funny that history I've lived through is being questioned...
All except for Hal's (in)famous first mined block #78 also fall outside of the Patoshi lines.
Others have speculated about the block 78 anomaly...I will try to recap the highlights and add a potentially new theory for consideration.
If anyone else knows of any more early attributed blocks , please send them my way to add to the list. Thanks! |
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