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Sergio Demian Lerner

Personal blog · bitslog.wordpress.comsecurityeconomics

Sergio Demian Lerner writes Bitslog, a personal blog at bitslog.wordpress.com about security and economics. Since 2012, 36 different Hacker News readers have linked it 86 times, most often “The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator”. The last post was in 2022, but the archive is still widely read.

Visit the blog
86mentions?
36HN people?
2012–2018first – last linked?
Links on Hacker News per year · peak 27 in 2014

Too few sampled comments (19) to say how often HN recommends it.?

Why HN links it

Sergio Demian Lerner's blog analyses Satoshi Nakamoto's bitcoin holdings and mining history, and critiques Bitmessage's cryptography. Commenters cite it as the source for estimates of Satoshi's coins.

Summarised by Claude from a sample of 19 HN comments that link here. Each comment is marked recommending, critical or neutral (citing without judging); how this works.

Words on Bitcoin Design, Privacy, Security and Crypto, by Sergio Demian Lerner

Most-linked posts?

  1. The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator
    12 people · 12 mentions · first linked 2013-04-18
  2. The Well Deserved Fortune of Satoshi, Bitcoin creator, Visionary and Genius
    4 people · 4 mentions · first linked 2013-04-17
  3. A new mystery about Satoshi hidden in the Bitcoin blockchain
    3 people · 3 mentions · first linked 2013-09-03
  4. Satoshi‘s Fortune: a more accurate figure
    3 people · 3 mentions · first linked 2013-04-27
  5. /
    2 people · 3 mentions · first linked 2013-07-18
  6. Uncle Mining, an Ethereum Consensus Protocol Flaw
    2 people · 2 mentions · first linked 2016-04-29
  7. Leaf-Node Weakness in Bitcoin Merkle Tree Design
    2 people · 2 mentions · first linked 2018-06-10
  8. /2012/11/30/bitmessage-completely-broken-crypto/
    2 people · 2 mentions · first linked 2012-11-30
  9. Ethereum “Dagger” PoW function is flawed
    2 people · 2 mentions · first linked 2014-01-17

What Hacker News says?

  1. Some time ago I read this: https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f... Not sure how effective this is, but if this is true then Satoshi has been awarded most of the bitcoins.

    Comment linking /2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/

    on “Craig Steven Wright claims to be Satoshi Nakamoto”
  2. Submitted The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator as a story · 273 points

    HN discussion
  3. AFAIK Bitcoin early-mined blocks were mined and are still owned by its creator. So it's perfectly ok to be cynical about Bitcoin as well. Edit: Some details here https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f...

    Comment linking /2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/

    on “Introducing Token”
  4. Submitted How you will not uncover Satoshi as a story · 165 points

    HN discussion
  5. Not just that - outing satoshi could cause him and any close family significant danger, given that there is a strong chance he is in possession of the secret keys of addresses containing 1M bitcoins. https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f...

    Comment linking /2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/

    on “Satoshi Nakamoto Is Probably This Unknown Australian Genius?”
  6. Submitted Leaf-Node Weakness in Bitcoin Merkle Tree Design as a story · 135 points

    HN discussion
  7. Here's a detailed analysis (just under 1M BTC; I'm not sure why I remembered 1.5M): http://bitslog.wordpress.com/2013/04/17/the-well-deserved-fo... http://bitslog.wordpress.com/2013/04/24/satoshi-s-fortune-a-...

    Comment linking /2013/04/24/satoshi-s-fortune-a-more-accurate-figure/

    on “I Am Not Satoshi”
  8. Submitted DagCoin: a cryptocurrency without blocks as a story · 56 points

    HN discussion
  9. It's theorised they have ~1m bitcoins, at 10k each that's a 10 billion net-worth. Presumably that's enough for people to want to hunt them down and coerce them into giving up private keys https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f...

    Comment linking /2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/

    on “Bitcoin hits $10,000”
  10. Submitted Ethereum “Dagger” proof-of-work function is flawed as a story · 50 points

    HN discussion
  11. I am a cofounder of a company in this space and three people in my company are in a position to understand it very well. For example Sergio who also blogs here: https://bitslog.wordpress.com

    Comment linking /

    on “ZCash Will Be a Truly Anonymous Blockchain-Based Currency”
  12. Submitted A new mystery about Satoshi hidden in the Bitcoin blockchain as a story · 13 points

    HN discussion
  13. > do large mining operations network their miners so that they don't overlap their hashes Interestingly, it's hypothesized that Satoshi did this: > He suggested that Satoshi had access to 58 machines for mining, so to avoid checking the same nonce twice he gave each machine a different id, which was stamped in the LSB of the nonce. https://bitslog.wordpress.com/2013/09/03/new-mystery-about-s...

    Comment linking /2013/09/03/new-mystery-about-satoshi/

    on “Why Is It Taking 20 Minutes to Mine This Bitcoin Block?”
  14. Submitted The Well Deserved Fortune of Satoshi, Bitcoin creator, Visionary and Genius as a story · 7 points

    HN discussion
  15. Most of his fortune is directly traceable from early mining activity: http://bitslog.wordpress.com/2013/04/24/satoshi-s-fortune-a-...

    Comment linking /2013/04/24/satoshi-s-fortune-a-more-accurate-figure/

    on “Tell HN: Meeting Satoshi ”
  16. Submitted Satoshi‘s Fortune: a more accurate figure as a story · 5 points

    HN discussion
  17. one of the critical aspects of Bitcoin's success is that there was no premine Satoshi has about a million bitcoin: https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f...

    Comment linking /2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/

    on “Zcash begins”
  18. Submitted MAVE: digital signature protocol for massive bulk verifications as a story · 5 points

    HN discussion
  19. I like how everyone has moved on to ignoring the fact that 5-10% of all Bitcoin are controlled by an unknown party. Would this be acceptable in any other currency? https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f...

    Comment linking /2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/

    on “CBOE Will Start Bitcoin Futures Trading on December 10”
  20. Submitted SmartSPV – A better Simplified Payment Verification for Smartphones as a story · 4 points

    HN discussion
  21. If you want to read more information about Satoshi you can take a look at this researched blog post: A new mystery about Satoshi hidden in the Bitcoin block-chain http://bitslog.wordpress.com/2013/09/03/new-mystery-about-sa...

    Comment linking /2013/09/03/new-mystery-about-satoshi/

    on “Study Suggests Link Between Dread Pirate Roberts and Satoshi Nakamoto”
  22. Submitted MinCen: A new protocol to achieve instant payments as a story · 4 points

    HN discussion
  23. From what I've heard, Satoshi's coins are spread around a lot of 50 btc wallets, and they're not so much known to be Satoshi's as suspected to be hers because there seems to have only been one person mining the blockchain at the start [1]. As other people started running the clients, it becomes increasingly difficult to tell Satoshi from any other miner. So though Satoshi may never have spent the bitcoins mined when…

    Comment linking /2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/

    on “Study Suggests Link Between Dread Pirate Roberts and Satoshi Nakamoto”
  24. Submitted Block ciphers modes with forward secrecy for Cryptocat/OTR as a story · 4 points

    HN discussion
  25. If you are interested in Sergio's insightful trip don't miss his story: https://bitslog.wordpress.com/about/ Disclaimer: he co-founded one of my companies.

    Comment linking /about/

    on “Leaf-Node Weakness in Bitcoin Merkle Tree Design”
  26. Submitted MAVEPAY: a new lightweight payment scheme for peer to peer currency networks as a story · 4 points

    HN discussion
  27. Obviously it's not vaporware but there are many discussions about their implementation behind the scenes such as "Ethereum “Dagger” PoW function is flawed" [1] and "Changes in Ethereum scripting language" [2]. [1] http://bitslog.wordpress.com/2014/01/17/ethereum-dagger-pow-... [2] https://bitslog.wordpress.com/2014/02/05/changes-in-ethereum...

    Comment linking /2014/02/05/changes-in-ethereum-scripting-language/

    on “Ethereum pre-sale hits 12.7M$, still 27 days to go”
  28. Submitted Leaf-Node Weakness in Bitcoin Merkle Tree Design as a story · 3 points

    HN discussion
  29. That's fine though, because at that point our theory has been proven wrong. So I propose we take the best guess that fits the available evidence and act accordingly. In this case, that action has already been taken: to notify Bitstamp that if the person trading those coins is an associate of Mt. Gox, then there's a high probability that illegal trades are occurring on their servers. This would let them take an actio…

    Comment linking /2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/

    on “Mt. Gox's Bitcoins are being sold on Bitstamp?”
  30. Submitted Uncle Mining, an Ethereum Consensus Protocol Flaw as a story · 3 points

    HN discussion

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