Satoshi: the smallest unit of bitcoin and the great mystery of its creator

In the crypto world, satoshi is not just a name—it’s the entire history of Bitcoin in a single word. Let’s break down where this unit came from and why there’s so much mystery surrounding the creator of cryptocurrency.

Why the Smallest Unit Was Needed

When Bitcoin first appeared, its price was laughable—in September 2009, you could buy 5,050 BTC for $5. Naturally, no one saw the point in subdividing the currency.

But the market evolved quickly. By November 2010, Bitcoin was trading at $0.5 on Mt.Gox, and user ribuck suggested introducing smaller units. The idea didn’t catch on. Months later, when the price doubled and hit $1 for the first time, the community agreed. They named the smallest unit after the creator—satoshi.

But here’s the thing: if a ruble has 1 kopek = 1/100, in Bitcoin, 1 satoshi = 1/100,000,000. It seems the developers already believed in the asset’s potential.

Division Hierarchy:

• 1 BTC = 100 million satoshi
• 1 millibitcoin (mBTC) = 100,000 satoshi
• 1 satoshi = 0.00000001 BTC

Today, satoshi are critically important for calculations. When BTC costs $80 000+, it’s inconvenient to count in whole bitcoins. Satoshi make microtransactions possible.

How to Get or Buy Satoshi

It’s simply a fraction of a bitcoin, so the methods are standard:

• Buy on a spot exchange
• Exchange via P2P or an online exchanger
• Earn through mining (though this is no longer for home computers)
• Earn in a crypto wallet through staking or other programs

Chapter Two: Who Really Is Satoshi Nakamoto?

Here’s where the crypto-mystery begins. More than 15 years later, no one knows for sure who created Bitcoin. Several people have been suspected:

Dorian Satoshi Nakamoto — In 2014, a Newsweek journalist claimed to have found the creator: a 64-year-old Japanese-American computer engineer from Los Angeles who worked on secret defense projects. Dorian categorically denied involvement.

Hal Finney — A cryptographer who received the first-ever bitcoin transaction. The community long suspected him of being Nakamoto, but Finney himself denied it (passed away in 2014).

Nick Szabo — A cryptography scientist. Researchers at Aston University found striking similarities between his emails/articles and the Bitcoin White Paper. But Szabo also never admitted anything.

Craig Wright — The only one who has publicly claimed to be Nakamoto. But when proof was required, he failed to convince. Online, his theory was debunked.

Dave Kleiman — A programmer, soldier, and detective. Paralyzed since 1995, died in 2013. Some also suspected him, but there’s no evidence.

Conclusion: The creator’s identity remains one of crypto’s greatest mysteries. It may stay that way. And maybe that’s even a good thing—Bitcoin isn’t tied to any one person.