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Bitcoin Linked Back to Satoshi Nakamoto Sent — Is the Creator Active?

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It has been spotted that a transaction for 50 BTC appears to have been made with coins that date back to February 2009, these are some of the first coins to ever be mined on the Bitcoin blockchain and have stirred interest that the transaction may well be linked to the mysterious creator of Bitcoin. 

Satoshi Nakamoto, the unknown person who is attributed to being the creator of Bitcoin, would have been one of only a handful of people who would have had access to coins that were mined near the genesis of Bitcoin. However, because little has been heard or seen of Nakamoto for many years now, this transaction causes intrigue. 

Twitter was awash with excitement when the transaction ticket indicated the age of the coins being moved as much of Satoshi’s fortune is locked away in early mined Bitcoins and have predominantly remained dormant for many years. This movement of old coins could well be linked back to the creator, but it is not as straightforward as that. 

A small batch of people

Satoshi is still so unknown that people do not know if it is one person, or perhaps even a group. But, at the time these coins were mined, there were only a few people involved in Bitcoin and they, along with Satoshi, are the few people that could have access to these coins which have not moved for more than 10 years. 

The likes of Hal Finney, Nick Szabo and Adam Back are all known to have been involved early on, but some suggest that there were also early decentralized miners that could have links to these coins. 

Evidence is not entirely solid

When the news broke, however, there were some who looked a little deeper into the technical side of things that seem to suggest that this is not a Satoshi transaction. 

This blockchain analysis technique that Larry Cermak is referring to consists of tracking the ExtraNonce fields in the coinbase field of the coinbase transaction, which is the one that creates bitcoins. 

It is rather complicated, but for a better understanding, read here.

This is not the first time coins from this era have been moved around, but they do not move very often.

While this movement of old coins is interesting, and has the very possibility of being linked to the original creator of Bitcoin, it is not certifiable evidence that it was him who enacted this transaction. 

There are more than enough alternative answers to how this movement took place, and by who, but it being Satoshi is just one of them. That being said, the pool in which Satoshi is in with regards to this transaction is a lot smaller than any other transactions.

Darryn Pollock
Darryn has been interested in the blockchain and cryptocurrency space since he heard about Bitcoin in 2015. He then decided to use his journalism degree to report on this fascinating fintech space in 2016, and has not looked back since.

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