Re-Mining Simulation Shows Satoshi Used a Single High-End PC to Mine 1.1M Bitcoin

Cryptocurrency advocates have been recently discussing the mysterious Bitcoin inventor Satoshi Nakamoto as RSK’s chief scientist, Sergio Dermain Lerner, published a paper called “The Patoshi Mining Machine.” Essentially, Lerner simulated Satoshi’s mining experience. The findings estimate that Bitcoin’s creator used a single computer to mine an estimated 1 million bitcoin minted in the early days.

Sergio Dermain Lerner is well known for publishing one of the first estimates backed by technical data in 2013 concerning Satoshi Nakamoto’s alleged stash of bitcoin.

During the last seven years, Lerner has published a few more papers about this subject and it is estimated that Satoshi mined 1.1 million BTC. Not too long ago in 2018, Bitmex Research published findings that estimated Satoshi may have only mined 700,000 BTC.

At the end of July 2020, the blockchain trackers and researchers from Whale Alert published a new research report which placed the figure around 1,125,150 BTC.

Lerner’s latest paper “The Patoshi Mining Machine” looks into whether or not the Patoshi pattern (Satoshi’s mining) was done by multiple computers or a single PC. Lerner simulated Satoshi’s mining experience by “mining a large part of Patoshi nonce space scanning sequentially in the range.”

The RSK chief scientist paper noticed a tendency while re-mining the old Satoshi bocks which reduces the nonce value.

“It turned out that re-mining reveals a strong tendency of the Patoshi mining algorithm to choose higher nonces when scanning the inner nonce,” Lerner discovered. “This tendency suggests the nonce was being decremented, which is the opposite that the Satoshi client version 0.1 does.”

Re-mining revealed some of the possible solutions chosen by the miner, Lerner detailed and “one that exists in the blockchain, will be called the real solution.”

The finding leads Lerner to believe that Satoshi didn’t leverage 50 computers to mine the Patoshi blocks and it’s…

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