Can Satoshi spend more bitcoin than he actually has?
In last article, I mentioned Satoshi Nakamoto is the founder of bitcoin. Once bitcoin reaches a certain scale, even the founder cannot alter those rules. Why can’t the founder change its invention?
Bitcoin is a decentralized digital currency. Everyone can issue bitcoin given a certain condition is met and check bitcoin accounts information for all users. Computers storing the bitcoin accounts information are called node. There are currently 9527 nodes around the world. (Check here -> https://bitnodes.21.co/ )
Back to our question, can Satoshi spend more bitcoin than he actually has? More specifically, can he create more bitcoin and give them to his mum? If Satoshi owns 10 bitcoin and he claims he has 20 bitcoin, the other nodes will reject to update Satoshi and his mum’s account information when he tries to send 20 bitcoin to his mum. Since every node stores bitcoin account information for all users, they know how much bitcoin Satoshi actually possesses.
By using a distributed network, bitcoin can prevent fraud without the existence of a central party. Since everyone can become a node by running the software and every node only act according to their own interest (Adam Smith said everyone is selfish!!), they will not allow others to claim more bitcoin than they actually have.
Wait a moment, if everyone know how much bitcoin Satoshi have, is that mean there is no privacy at all? I will explain more later and please follow my account!
