Refutation to Ron/Shamir paper on DPR/Satoshi link

As almost any other Bitcoiner I read the recently published paper authored by Ron Dorit Ron and Adi Shamir that suggests a link between Satoshi and the Dread Pirate Robets (DPR), the Silk Road black market operator.

The paper states:
“The Bitcoin community believes [9] that the vast majority of the early mining operations were carried out by Satoshi Nakamoto, and that during this early period he accumulated about one million bitcoins (..) by mining most of the first 20,000 blocks. ”

[9] Lerner S. D.: The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator, Vi-sionary and Genius, Bitslog, 17 april 2013,

This sentence of the “paper” is totally misleading. If they had read my posts in depth, they would have realized that I found that other early adopters started mining almost as early as Satoshi.

Excerpt of my a post just a few days after that (

“Another interesting fact is that the pattern starts just after the genesis block, in block 1. …It seems that block 12 is the first mined by another user.”

So two hours after the true Bitcoin genesis block was released, there were other people mining. And other early miners during 2009 accumulated more than 300K bitcoins.

All their conclusions are based on very old generation transactions (e.g. blocks mined at heights 357 and 509) received by the “suspected” address 12higDjoCCNXSA95xZMWUdPvXNmkAduhWv. But these two blocks are not part of the Satoshi mining pattern, as I’m showing in the following two pictures:


Circled in red are two of the blocks Ron/Shamir suggest were mined by Satoshi. Other block rewards sent to the suspected address, such as blocks at height 320, 407, 541, 666 either do not lie on the Satoshi pattern and/or do not have the characteristic Satoshi nonce LSB range.

So the conclusion of the paper is deeply flawed.

I did not check all block rewards sent, but all blocks that I did checked were not Satoshi’s. If someone wants to write a list of the block numbers suspected and send it to me, I will run my Satoshi checker application with the list as input and publish conclusive evidence.

Best regards!

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