• Recently, Bitcoin mined during the first month of Bitcoin's existence was transferred.
  • It's likely not Satoshi based on early patterns in mining equipment.
  • It is currently unclear who is responsible for the transfer.

The Patoshi Pattern is a trend noticed during the early days of Bitcoin. The idea behind it is that Satoshi was mining Bitcoin early on with a single setup.

This is noticeable in a pattern first noticed by independent researcher and cryptographer Sergio Demián Lerner, published in his paper ‘The Return of the Deniers and the Revenge of Patoshi.

Recently, news media has been buzzing over the transfer of 50 BTC mined during the first month of Bitcoin’s history. However, as commentators have repeatedly noticed, the 50 BTC does not fall into the Patoshi Pattern.

Although it is possible that Satoshi was mining blocks with another setup, there is little reason to suspect this most-recent transfer is actually Satoshi Nakamoto.

Currently, trading bots are being programmed to watch for early-mined Bitcoin on the move. This may explain Bitcoin’s price drop yesterday due to the transfer. However, As Jameson Lopp (@lopp) said on Twitter recently, this strategy makes little sense.

The Patoshi Pattern is in dispute, however, since there is no way to know whether or not Satoshi mined with only one setup. Therefore, it is merely a pattern — one which still does not match the 50 BTC recently moved. Safe to say, it seems unlikely that Satoshi’s BTC holdings are actually alive and on the move.

Anton Lucian

Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in. Email.

Follow Author

Want to know more?

Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans!

This site uses cookies.
Click here to accept the use of these cookies. View our cookie policy

We are discussing it in our Telegram Channel

Join

We are discussing it in our Telegram Channel

Join