Greetings to Respected professor @awesononso and dear steemitian friends. Let me introduce myself before starting the homework task. I am Atul Pathak lives in state-Bihar, India. I am an agriculturist and help farmers with different planting techniques. I am also a crypto lover and I always try to learn different trading strategies. Now I am starting my homework.

Questions to be answered in this homework-

1. Who is Satoshi Nakamoto?

2. Write on two claims/theories of Satoshi Nakamoto’s identity.

3. Who is Wei Dai?

4. What is the current value of Bitcoin on the day you are performing this task? Calculate the USD value of one satoshi of the current value. (Show full working and to 3 s.f).

5. What is the current value of Ether on the day you are performing this task? Calculate the USD value of one Gwei of the current value. (Show full working and to 3 s.f).

6. Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.
   (Screenshots with username tag).
   

   

Introduction

I heard about bitcoin for the first time in the year 2017 when it was in the BULL run phase. It was the time when there was so much HYPE of this asset. At that time, many people wanted to buy it at any price but many were there who were really confused about this particular word "Bitcoin". I was on the side of confused people who were watching the growth and preparing their mindset to BUY it for the next time when it will again come down.
The time came, it started coming down. Then I thought to do more research about it before investing.

I was surprised that either there was nobody or everybody behind it. Some were claiming themselves as founders of bitcoin and some were refusing to have any relation with bitcoin, in between, I heard about Satoshi Nakamoto.

Question 1. Who is Satoshi Nakamoto?

Satoshi Nakamoto, a very popular name with a disappeared identity. No one knows to which this name belongs. It may belong to a male, a female or a group of people having coded names. Really, No one knows that who is the father of this great project which created a bridge of independence over the regulated and centralized transactions. The name Satoshi Nakamoto came when the whitepaper of Bitcoin had been published in 2008 and after a year in 2009, he/she/they invented Bitcoin. It was introduced as a digital cryptocurrency with peer to peer electronic cash system.
It was fully decentralized and have no regulatory body like government, banks and other institutions.
The publication was by:-
Name: Satoshi Nakamoto,
Email: [email protected],
Website: www.bitcoin.org
Since the time of its invention, bitcoin is fulfilling all the promises of its founder. Satoshi Nakamoto may also have seen this and after fulfilling their purpose he/she/they got disappeared.
Now, many people are proving themselves to be the founder of Bitcoin but still, we have no clues.
Let's see if in future anyone could successfully claim to be the real founder of Bitcoin ...

Question 2.
Write on two claims/theories of Satoshi Nakamoto’s identity.

Claim 1- Nick Szabo

Dominic Frisby, an author claimed that Nick Szabo is Satoshi Nakamoto based on the writing similarity.
Also, it was claimed that both Satoshi & Nick used the reference of an economist Carl Menger.

He is the man who is professionally a computer engineer and contributed his work by giving the concepts of Smart Contracts in the year 1996. Smart contract works based on the agreement between buyer and seller that can be written into codes and these codes are trackable and performs irreversible transactions. In a paper, he compared smart contracts to a vending machine.

Nick Szabo Image source

Also, he invented a digital cryptocurrency that works similar to bitcoin and named it Bit Gold in the year 2008.

Claim 2- Dorian Satoshi Nakamoto

This is the person who is very famous for the claim to be Satoshi Nakamoto just because of his similar name.
Dorian Satoshi Nakamoto. Image Source

Once he mistakenly told that he was no longer involved in dealing with bitcoin but after some days he changed his statements and told that he did not understand the question at that time. This is the main reason for the suspicion created on him.

Question 3. Who is Wei Dai?

Wei Dai is a 45-year-old computer engineer who has developed the crypto++ cryptographic library. He was suspected to be Satoshi Nakamoto because somewhere he was found involved in the development of the first cryptocurrency. One of the popular works of Wei Dai is that he contributed to the development of VMAC.
Few more contributions are:
a). Acton company
b). TerraSciences
c). Microsoft research scholar
He has also developed the famous cryptocurrency b-money but it did not achieve too much success and the project didn't work.

Wei Dai Image Source
Also, It was found that there was a writing similarity between Dai's and Satoshi Nakamoto, this became the primary reason for suspicion.

Question 4.
What is the current value of Bitcoin on the day you are performing this task? Calculate the USD value of one satoshi of the current value. (Show full working and to 3 s.f).

To answer this question, let's see what is the current price of Bitcoin on Coinmarketcap

As we can see in the given screenshot, the current USD value of bitcoin is $43176.30. Now, I am going to calculate the dollar value of 1 satoshi. Before that, we need to understand the calculation behind this.
Now,
1 BTC = $ 43176.30

We know that 1 Bitcoin equals 100,000,000 satoshis.

1 satoshi= 1/100,000,000 X 1 BTC
1 satoshi = 1/100,000,000 X $43,176.30
1 Satoshi = 0.00000001 X $43,176.30
1 Satoshi = $ 0.000431763
1 Satoshi = $ 0.000432 (result up to three significant figures).

Question 5.
What is the current value of Ether on the day you are performing this task? Calculate the USD value of one Gwei of the current value. (Show full working and to 3 s.f).

To answer this question, let's see what is the current price of Ethereum on Coinmarketcap

As we can see in the given screenshot, the current USD value of ethereum is $2921.14. Now, I am going to calculate the dollar value of 1 Gwei. Before that, we need to understand the calculation behind this.
Now,
1 ETH = $ 2921.14

We know that 1 Ethereum equals 1,000,000,000 Gwei

1 Gwei= 1/1000000000 X 1 ETH
1 Gwei = 1/1000000000 X $2921.14
1 Gwei = 0.000000001 X $2921.14
1 Gwei = $ 0.00000292114
1 Gwei = $ 0.00000292 (result up to three significant figures).

Question 6.
Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.
(Screenshots with username tag)

To complete this question I am opening my steemit wallet.

Here I found that I have 3.488 Steem available in my account.
As specified in the question that I have to send 0.001 steem to any account. I am going to perform this task.

On clicking the drop-down near the available balance, we will find the Transfer option.
We will click on Transfer and put the receiver's details and amount to send.

We find a Memo option, where we can write a message or if we are sending the stem to any exchange we can paste the memo available on the deposit option of exchange. Here, I am sending 0.001 steem to my friend so it is not mandatory to write anything.

Now click on the NEXT
Now, it will ask for one confirmation and after confirmation, steem will be sent to the receiver's account.

We can check whether money has been sent or not by visiting wallet history.

steemwallet history
Here, in the screenshot, it is showing that money has been sent.

Now, the second part of the task is to try the 0.0001 steem transfer to the account.
Let's start.

I tried to transfer 0.0001 steem as asked in the question, but it was not successfully sent because steemit doesn't allow more than 3 digits of precision. Whatever be the transferring amount, it should be more than 0.001.

Conclusion

In this homework I learned about many people who are involved with bitcoin. I was aware of the Satoshi Nakamoto but rest of the developers and engineers was new for me.
Also, I learned about sub unit of Ethereum and it's dollar value calculation.
I thank professor @awesononso to bring this interesting class.

That's all from my side.
Thanks for reading.