Satoshi probably launched a 51% attack on Bitcoin in the early days

According to new research, it is likely that Satoshi Nakamoto carried out a 51 percent mining attack on the network in its first year of existence.

An in-depth data review of blocks mined in 2009 by Patoshi – a nickname for a frequent miner who embedded non-standard use of ExtraNonce into Coinbase transaction data – suggests that it is highly likely that they used hash power to to reorganize the Bitcoin blockchain.

In other words, as Bitcoin historian Pete Rizzo explained, Patoshi’s computer reboot when he took occasional breaks from mining was “so powerful that the miner [Patoshi] simply overwrote blocks found by other miners in theirs [Patoshi’s] Absence.”

A 51 percent attack is exactly what it sounds like: gaining 51 percent control of the Bitcoin network, as measured by hash rate, in order to overwhelm other miners and regain control of new transaction confirmations.

Patoshi – a portmanteau of “pattern” and “Satoshi” – was mining in 2009, when this was extremely likely Satoshi Nakamoto owned the only computer connected to the network. This has led many people to conclude that Patoshi and Satoshi were the same person.

A more detailed analysis from Wicked Smart Bitcoin this week, building on Lerner’s research, also suggests that Patoshi likely carried out a 51 percent mining attack in 2009.

Since Bitcoin has always been a proof-of-work (PoW) blockchain, the miner who works the hardest gets the right to mint Coinbase rewards and add transactions to the ledger. During Patoshi’s breaks from mining, no other miner performed enough hashing work to prevent him from returning and regaining control.

Satoshi’s “51% Attack” was an attack in name only

It is important to note that Bitcoins had no value in 2009, so the attack was a stress test and was not aimed at financial gain.

Although the actions of Patoshi, who was likely Satoshi, fit the definition of a “51% attack,” that term is a poor description of what happened. Again, since Bitcoins had no financial value at that point, the behavior was different simply for research purposes or accidentally.

In fact, in early 2009, during these blockchain reorganizations, Satoshi had one of the few computers connected to the Bitcoin network. In 2010, among other research activities, Satoshi also apparently tested the difficulty adjustment of the Bitcoin network through different hash power contributions.

All of these actions took place while Bitcoins were free. To be clear, miners could earn Coinbase rewards for electricity worth just a few cents, and Martti Malmi gave away 30,000 Bitcoins in 2010 via a free website “faucet.”