Since 2016, Craig Wright has been claiming that he is Satoshi Nakamoto, and while the lawsuit against him continues in the UK, Adam Back and Martti Malmi, one of the first developers of the Bitcoin network, attended the last court case.

Malmi, one of the duo who stated that Wright is not Satoshi, revealed his old correspondence with Satoshi. Malmi also stated that Wright was not Nakamoto as far as he saw from these correspondences.

The e-mails uncovered by the Finnish developer add new information worth a treasure on what is known about Satoshi Nakamoto. From the Proof-of-Work system to the security of the network and the 21 million supply, Satoshi clarifies many issues that are still deba

“Proof of Work is the only solution I have found”

Satoshi seems to be trying to explain the importance of Bitcoin mining, especially in forums. Stating that mining does not consume a lot of energy, Satoshi said in an e-mail:

“Proof of Work is the only solution I have found to make p2p e-cash work without a trusted third party, It’s the only solution I’ve found. PoW is one of the most fundamental to coordinating the network and preventing double-spending…”

“still be less wasteful than banking activity”

Speaking about Bitcoin’s mining system and its energy consumption, which is still debated even today, Nakamoto referred to the banking system:

“If it did grow to consume significant energy, I think it would still be less wasteful than the labour and resource intensive conventional banking activity it would replace,”

“Bitcoin is a distributed secure timestamp server…”

Stating that blockchain technology also has an important place in time stamping, Satoshi said in an e-mail:

“By the way, I don’t remember if we talked about this, but the other day some people were discussing how secure timestamping should be. It’s very important to be able to prove that a file existed at a certain time…Bitcoin is a distributed secure timestamp server for transactions, A few lines of code could create a transaction with an extra hash in it of anything that needs to be timestamped.”

“21 million tokens for the whole world…”

Stating that his choice of 21 million supply was deliberate, Bitcoin’s No. 1 also talks about the possibility of the largest cryptocurrency owning a portion of world trade:

“The choice of the number of tokens and the distribution program was an educated guess. It was a difficult choice because once the network starts operating, it locks in, and we are committed to it. I wanted to choose something that would make prices similar to existing currencies, but that’s very difficult without knowing the future. If you imagine it being used for a fraction of world trade, then there would only be 21 million tokens for the whole world, so it would be worth much more per unit. Values are 64-bit integers with 8 decimal places, so 1 coin is internally represented as 100000000. There is plenty of granularity if typical prices become small. For example, if 0.001 is worth 1 Euro, it might be easier to change the display so that if you have 1 Bitcoin, it’s now displayed as 1000, and 0.001 is displayed as 1.”

“The potential value that could be stolen would always be smaller than the effort required to steal it.”

Bitcoin’s creator also shows once again how detailed he is about the security of the system. Stating that the growth of the network will further increase security, Satoshi wrote the following:

“Its security grows with the size of the network and the value it protects. While acknowledging vulnerabilities in the early stages when the network is small. The potential value that could be stolen would always be smaller than the effort required to steal it.