Was Satoshi a Greedy Miner?

Technical analysis of mining behavior exhibited by an entity that is plausibly Satoshi Nakamoto.

Was Satoshi a Greedy Miner?

Did Satoshi stop mining with the Patoshi miner after block 54,316? It is impossible to know whether the mining software was changed and became undetectable as a result or if Satoshi continued mining using the publicly available mining software.

What am I sure of with regard to Satoshi?

  • Their goal was to keep the "heartbeat" of the network alive while it was being bootstrapped.
  • They mined on a single machine with a maximum hashrate of 6 Mhps.
  • They could have easily earned more than twice as much BTC if they had mined at full power.
  • They did not want to be in a position of dominating the network hashrate, but may have felt it was necessary during the earliest days when the network was far more fragile due to having fewer than five miners.
  • They cared a great deal about difficulty adjustments. The adjustment algorithm was one of Satoshi's greatest innovations and they opined upon the topic more than almost any other.
  • They wanted as many people to be able to mine on home PCs as possible (Satoshi decried the FGPA / GPU mining race)

archive: https://archive.ph/bFik5