Bitcoin's origin is surprising and somewhat mysterious. We know that the concept of Blockchain and Bitcoin is authored by Satoshi Nakamoto. But do you know who Satoshi is (and what he is)? Where did that term come from and what does it mean?
Who is Satoshi?
In August 2008, a document presenting the concept of Bitcoin was published in a crypto email list by author Satoshi Nakamoto. This is the alias (invented name) of the creator of Bitcoin. However, it is not yet known what their nationality, gender or if it is just a person or a group of programmers. It is believed that "he" preferred to hide his origin for security and privacy reasons.
There are many speculations about his name, as well as conspiracy theories and fake news. They have come to think that it is the combination of programmers from Samsung, Toshiba, Nakashimi and Motorola.
The most curious thing is its meaning: Satoshi means "clear thinking, quick intelligence"; Naka means "interior" and Moto means "base, origin".
What is Satoshi in Bitcoin?
In honor of the creator of Bitcoin, Satoshi is also the name used for a fraction of the coin.
Just as the penny is the smallest fraction of the FIAT Dollar, Satoshi is nothing more than a fraction of Bitcoin. While 1 dollar equals 100 cents, 1 bitcoin corresponds to 100,000,000 satoshis (100 million!).
This splitting into several decimal places allows investors not to need to have 1 entire bitcoin to use it as a digital currency. Since the Bitcoin quotation is high, it is possible to acquire fractions of the currency and still make transactions and pay for services of any value, as a cryptocurrency user.