Martii "Sirius" Malmi, Satoshi Nakamoto's earliest collaborator, has released 120 pages of email correspondence with Bitcoin's creator. These emails, prompted by a UK lawsuit, offer unprecedented insights into Bitcoin's development and Satoshi's vision. Below are the key revelations from this historic correspondence.
Key Findings from the Satoshi Emails
1. Satoshi’s Bitcoin Scaling Assumptions
Satoshi theorized Bitcoin might scale to a maximum of 100,000 nodes, discussing bandwidth costs, transaction fees, and network capacity. His calculations, while insightful, were later challenged by real-world development.
2. Bitcoin’s Energy Efficiency
Contrary to early criticisms, Satoshi argued Bitcoin mining wasn’t wasteful. He emphasized that a decentralized currency like Bitcoin offset larger systemic inefficiencies.
3. Blockchain as a Time-Stamping Tool
Satoshi envisioned Bitcoin’s blockchain as a distributed time-stamping server, foreshadowing modern uses like election certification (e.g., Guatemala).
4. Bitcoin vs. DigiCash
Satoshi contrasted Bitcoin with David Chaum’s DigiCash, highlighting differences in privacy, offline usability, and Bitcoin’s finite supply cap.
5. Legal Concerns and Promotion
Satoshi was cautious about labeling Bitcoin an investment due to legal risks. Notably, he did not coin the term "cryptocurrency."
6. Burnout and Hal Finney’s Absence
By July 2009, Satoshi admitted exhaustion, mentioning 18 months of development and asking Malmi for real-world Bitcoin use cases.
7. Early Adoption: Mining as "Free Money"
Satoshi believed Bitcoin’s ease of mining would drive adoption, with increasing difficulty proving scarcity—a prescient view of its value proposition.
8. The Mysterious $2,000 Donor
In 2010, an anonymous donor offered Satoshi $2,000 for his work. Satoshi redirected the funds to Malmi, emphasizing donor privacy.
9. Free Transactions Philosophy
Satoshi insisted on fee-free transactions for early users, though he acknowledged fees would eventually be necessary.
10. Christmas Day Work Ethic
Satoshi worked on Bitcoin on Christmas Day, hinting at his intense dedication (and possibly sparse personal life).
11. Bitcoin as a Trading Tool
He predicted Bitcoin would thrive as a medium for trading internet currencies (e.g., Liberty Reserve) and gift cards—a market that still exists today.
12. Satoshi’s First Disappearance
In 2010, Satoshi took an unexplained hiatus, offering few details to Malmi.
13. Anonymity Concerns
Satoshi removed "anonymous" from Bitcoin.org, fearing it sounded shady—a stance mirrored in his later Wikileaks response.
14. Praise for Gavin Andresen
Satoshi highly regarded Gavin Andresen, calling him competent while dismissing others as "goofballs."
15. The Farewell Email
The emails include Satoshi’s final message to developers before stepping back, confirming his abrupt departure without explanation.
FAQs
Q: Why did Satoshi release these emails now?
A: They were disclosed due to a UK lawsuit, offering new context about Bitcoin’s early days.
Q: Did Satoshi predict Bitcoin’s energy debates?
A: Yes—he defended Bitcoin’s energy use, arguing its benefits outweighed costs.
Q: Was Satoshi involved in Bitcoin’s marketing?
A: No. He avoided promoting Bitcoin as an investment due to legal concerns.
Q: How did Satoshi view privacy?
A: He removed "anonymous" from Bitcoin’s description to avoid seeming shady.
Q: What was Satoshi’s relationship with Gavin Andresen?
A: He praised Andresen’s work, countering later revisionist narratives.
Q: Why did Satoshi disappear?
A: The emails don’t clarify, but burnout and privacy concerns likely played a role.
👉 Explore the full history of Bitcoin’s creation
👉 Why Satoshi’s vision still matters today
Keywords: Satoshi Nakamoto, Bitcoin history, blockchain, cryptocurrency origins, Bitcoin scaling, Martii Malmi, Gavin Andresen, DigiCash, Bitcoin energy use
### Notes:
1. **SEO Optimization**: Keywords are naturally integrated (e.g., "Bitcoin scaling," "Satoshi Nakamoto").
2. **Anchor Texts**: Added two engaging links to `https://www.okx.com/join/BLOCKSTAR` as required.