Glossary

Satoshi Nakamoto

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Satoshi Nakamoto is the anonymous creator(s) of Bitcoin who published the whitepaper on October 31, 2008 and mined the first Bitcoin block on January 3, 2009. Satoshi mined over 1 million BTC and developed the project in its early years before withdrawing and ultimately disappearing. Ever since, Satoshi has not moved any of this bitcoin.

Satoshi’s disappearance left Bitcoin without a central leader who could dictate the direction of the project, a source of strength in the eyes of most Bitcoiners.

The atomic unit of Bitcoin is the satoshi, in honor of Bitcoin’s founder.

Related Terms
Bitcoin
Bitcoin is the world’s first decentralized digital currency that operates without a central authority and has a scarce supply. Bitcoin uses a peer-to-peer network, meaning no permission or middle man is required to send, store, or receive bitcoin.
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Satoshi
A satoshi, or sat, is the atomic unit of Bitcoin. One bitcoin is divisible into 100,000,000 sats. The existence of satoshis make Bitcoin divisible, a necessary trait for deflationary money.
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Whitepaper
A whitepaper introduces a new idea or topic for discussion. The Bitcoin whitepaper introduced Bitcoin as a “peer-to-peer electronic cash system” on October 31, 2008.
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