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Online Sleuths Believe Satoshi Nakamoto’s Bitcoin Stash Is a Blockchain Treasure Hunt Meant to Be Found

Online Sleuths Believe Satoshi Nakamoto’s Bitcoin Stash Is a Blockchain Treasure Hunt Meant to Be Found

Online Sleuths Believe Satoshi Nakamoto’s Bitcoin Stash Is a Blockchain Treasure Hunt Meant to Be Found

Over the past twelve years, the crypto currency community has become steadily fascinated with the creator of bitcoin, Satoshi Nakamoto. For more than a decade, armchair savers and journalists have been trying to uncover the identity of the creator and information about the location of all bitcoins, a secret that was unlocked when the network was in its infancy. Many people now believe that the Satoshi coins could have the greatest appeal, and that the private keys are somehow hidden in the blockchain.

Maybe Satoshi Nakamoto left a message?

Recently, some members of the forum discussed a new theory related to the infamous Satoshi Nakamoto. The hunt for Nakamoto has been a challenge over the years, and so far no one has been able to uncover the identity of the creator or find the hiding place of the creator of BTC.

Satoshi Nakamoto, the anonymous inventor of Bitcoin is the biggest mystery, and for a decade, online sleuths and journalists have been trying to figure out the identity of the inventor and find the creator of Bitcoin.

Online Sleuths Believe Satoshi Nakamoto’s Bitcoin Stash Is a Blockchain Treasure Hunt Meant to Be Found

Nakamoto is known to have mined bitcoin, and it is estimated that the cryptocurrency creator may have acquired about 750,000 BTC – 1.1 million BTC. has written about Satoshi’s stock before, including the 17th. April 2019. In this particular article, it was reported that RSC Labs Chief Scientist Sergio Demian Lerner has released a new report on the alleged Satoshi ownership.

The SRC’s chief scientist has discovered many things related to the thousands of blocks Satoshi was able to mine. In 2013, Lerner also published a blog post titled The New Satoshi Mystery Hidden in the Bitcoin Blockchain, in which he describes an interesting nonce field in the blocks that he calls the Patoshi pattern.

This image shows the least significant byte of the nonce, interpreted in a small-endian machine, from the Genesis block to block 36288 (2010), wrote Sergio Demian Lerner, chief scientist at RSK Labs, in 2013. This is neither the uniform distribution (which one would expect for a completely random byte) nor the exponentially decreasing distribution one would expect for the most significant byte of a large-endian machine, Lerner adds.

Online Sleuths Believe Satoshi Nakamoto’s Bitcoin Stash Is a Blockchain Treasure Hunt Meant to Be Found

Basically, a nonce, or a number used only once in bitcoin terminology, is a 32-bit (4 byte) field or non-repeating value that occurs in the block being developed. When miners block bitcoins, the goal is to find a hash that is less than or equal to the current network target. The student’s puzzle is about the assignment of the least significant byte (LSB) nonce.

Lerner discovered that the LSBs in the alleged Satoshi blocks were not evenly distributed, and an exploratory analysis of the blockchain led to several conclusions.

This latest chart clearly proves that almost all the machines that mined from 2009 to 2010 were small endians, Sergio Demian Lerner wrote in his post titled The New Satoshi Mystery Hidden in the Bitcoin Blockchain.

Online Sleuths Believe Satoshi Nakamoto’s Bitcoin Stash Is a Blockchain Treasure Hunt Meant to Be Found

At first, he thought it might be his blockchain parser malfunctioning. Or it could mean that Satoshi was mining bitcoins with something very different from the PC, Lerner said. But if this is true, it has profound implications. Satoshi anticipated the FPGA/ASIC advantage much earlier than anyone else, he added.

Then Lerner came up with a third reason, and it could mean that Satoshi discovered a bug in SHA-2. But the chief scientist at the RSC said that was highly unlikely. But eventually, Lerner thought, Satoshi might have left a printed message on the nonce.

A message we will see in the distant future, Lerner wrote at the time. He added the number of non-concessions that fit into each byte or histogram.

blockchain According to one theory, Satoshi Nakamoto’s 1.1 million BTC stash is a prize waiting to be found via clues hidden in the bitcoin blockchain.

Online Sleuths Believe Satoshi Nakamoto’s Bitcoin Stash Is a Blockchain Treasure Hunt Meant to Be Found

armchair detectives hope to decide the best draw in.

This mystery has led a group of theorists at to believe that the first coins minted by Satoshi may in fact be very valuable treasures. A forum account named Old Gold Digger believes that the existence of so many distinguishing features indicates that whoever mined these blocks of bitcoins wanted their blocks to be identifiable.

Other people have alluded to this theory in the past on the forum. Satoshi left a message on the nonce, the old prospector wrote. A message we will see in the distant future.

The man added:

Maybe Satoshi ran the biggest contest, and the personal keys are in the blockchain.

Many other people are interested in the theory of gold rush, and a number of people have responded to the forum thread.

It reminds me of the Ready Player One storyline from the first book, where Khaliday is now the equivalent of Satoshi, someone said in response to the post. If there really is a cryptic treasure hidden there, it would be fascinating, he added. Meanwhile, others have left several clues about the possibility that the message was printed on Nones.

I wish I knew the answer, said the old prospector in a thread. Don’t you find it a little odd that he used the proprietary 58 base to encode the addresses and you just happen to see a spike between the 0-57 values? I know it’s probably just a coincidence, but it would be surprising if the LSB had a secret message to explain this, the former gold miner noted.

Also, in June 2019, an open letter to Satoshi was posted on an account called Thread Support, in which the creator explicitly asked if there was a contest for a bitcoin price.

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We think you created a bitcoin lottery and the private keys are somehow on the blockchain, Thread Support wrote at the time. We are trying to resolve this issue and we will move the prize tokens. If you have anything to add to this statement, feel free to do so, the forum user added. Furthermore, if Nakamoto had actually mined 1 million BTC, all the coins could have been placed at 20,000 separate addresses with 50 coins each.

Lost coins make all other coins worth a little more – think of it as a gift for everyone

There has always been talk that Satoshi Nakamoto might one day become the richest man in the world. But this assumes that the inventor keeps them all for himself, and that the creator will always be the owner of these parts. As armchair savers have discussed on, they may have been left behind for us.

That’s what you get when you draw bar graphs of a 3,000-block moving window for the first 60,000 blocks, says writer Techmix 1. June 2020. We see that there are five different ranges of LSB values, based on their behavior in the histogram. 0-9] reaches a maximum value of about 54000 of the first block. It drops at about 21,000 blocks and peaks at 24,000 [20-28], like the previous range, except that it does not drop but peaks higher between blocks 21,000 and 24,000. 29-38], like the previous range, but drops after block 26,000. Top for block 22,000. These slackers also refer to a paper called Mysterious 19, which follows Patoshi Lerner’s model, but says that Lerner’s second discovery of an anomaly in the smallest value per byte (LSB) nonce block header field really caught his attention.

Online Sleuths Believe Satoshi Nakamoto’s Bitcoin Stash Is a Blockchain Treasure Hunt Meant to Be Found

The author of the study adds:

So maybe this strange behavior of the size 19 LSB is telling me to look at it differently.

Finally, the online detectives also discussed Satoshi’s famous quote about lost coins: Lost coins only make other people’s coins a little more expensive. Consider it a gift for everyone. Perhaps Satoshi was not talking about the coins lost over time, but the creator’s repository of texts or countless messages hidden in the blockchain.

The one who can solve this problem is the chosen one that Satoshi hopes will succeed, a person wrote in an interview on It’s like a place to define Satoshi’s legacy for us in the future. Is this a contest? Pirate’s treasure? He asked.

What do you think about the possibility of Satoshi Nakamoto’s bitcoins becoming a prize or a treasure hunt? Let us know what you think in the comments below.

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Bitcoins, Bitcoins (BTC), theory, identity, Nakamoto, The Old Gold Digger, RSC Chief Scientist, Satoshi, Satoshi Nakamoto, Satoshi identity, Satoshi Bitcoins, Satoshi Coins, Sergio Demian Lerner, theories, theory, treasure hunt

Photo credit: Shutterstock, Pixabay, Wiki Commons, Techmix,, Sergio Demián Lerner,,

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