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Bitcoin

Submission + - Bitcoin 3 years on, what Satoshi didn't know (mineforeman.com)

ASDFnz writes: "3 years ago today (or 6:15 pm on the 3rd of January, 2009 UTC/GMT) Satoshi Nakamoto’s computer generated the fist ever bitcoin block. Weighing in at just under .3 of a Kilobyte it is a testament to the old adage ”good things come in small packages”.

While the future of bitcoin and crypto currencies in general is still far from certain, can you imagine what Satoshi was thinking when he got the notification that the first block was found? It seems unlikely we will ever know (After all, Satoshi Nakamoto is a pseudonym) but we can say for certain, he did not know this;-

  Bitcoins Lost 35,608.36304319
  Bitcoins Stolen 261,666.05847975
  Bitcoins Scammed 535,350.05786728

I have been conservative with my figures, but that is a total of 832,624.47939022 or 7.8% of of the current bitcoins in circulation that have been scammed, stolen or destroyed. If you consider that there will only ever be 21,000,000 bitcoins (unless the blockchain is altered) that works out to be 3.964% of bitcoins ever to be created."

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Bitcoin 3 years on, what Satoshi didn't know

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