Research ▪ Nakamoto Research

Further research and resources

This resource stands on the shoulders of research by many others who are curious about Bitcoin and the Satoshi Nakamoto persona. Here you’ll find a listing of resources that this researcher has studied since first becoming interested in the topic in 2017.

Research papers

  1. Gur Huberman, Jacob D Leshno, Ciamac Moallemi, Monopoly without a Monopolist: An Economic Analysis of the Bitcoin Payment System, The Review of Economic Studies, Volume 88, Issue 6, November 2021, Pages 3011–3040, https://doi.org/10.1093/restud/rdab014
  2. Bradbury, Danny. “The problem with Bitcoin.” Computer Fraud & Security 2013.11 (2013): 5-8. https://doi.org/10.1016/S1361-3723(13)70101-5
  3. Ducrée, Jens. (2022). Satoshi Nakamoto and the Origins of Bitcoin – Narratio in Nomine, Datis et Numeris. 10.48550/arXiv.2206.10257.

Academic and professional journals

Several studies have been published across a range of academic journals exploring the economics and finance aspects of Bitcoin and related cryptocurrencies.

Communications of the ACM

Journal of Financial Econometrics

  • Edoardo Rainone, Real-Time Identification and High-Frequency Analysis of Deposits Outflows, Journal of Financial Econometrics, Volume 22, Issue 4, Fall 2024, Pages 868–907, https://doi.org/10.1093/jjfinec/nbad012
  • Peter Reinhard Hansen, Chan Kim, Wade Kimbrough, Periodicity in Cryptocurrency Volatility and Liquidity, Journal of Financial Econometrics, Volume 22, Issue 1, Winter 2024, Pages 224–251, https://doi.org/10.1093/jjfinec/nbac034
  • Leon Li, Carl R Chen, When Safe-Haven Asset Is Less than a Safe-Haven Play, Journal of Financial Econometrics, Volume 22, Issue 4, Fall 2024, Pages 808–838, https://doi.org/10.1093/jjfinec/nbad009
  • Dillon Huddleston, Fred Liu, Lars Stentoft, Intraday Market Predictability: A Machine Learning Approach, Journal of Financial Econometrics, Volume 21, Issue 2, Spring 2023, Pages 485–527, https://doi.org/10.1093/jjfinec/nbab007
  • Nikolaus Hautsch, Ostap Okhrin, Alexander Ristig, Maximum-Likelihood Estimation Using the Zig-Zag Algorithm, Journal of Financial Econometrics, Volume 21, Issue 4, Fall 2023, Pages 1346–1375, https://doi.org/10.1093/jjfinec/nbac006
  • Sam Astill, David I Harvey, Stephen J Leybourne, A M Robert Taylor, Yang Zu, CUSUM-Based Monitoring for Explosive Episodes in Financial Data in the Presence of Time-Varying Volatility, Journal of Financial Econometrics, Volume 21, Issue 1, Winter 2023, Pages 187–227, https://doi.org/10.1093/jjfinec/nbab009
  • Olivier Scaillet, Adrien Treccani, Christopher Trevisan, High-Frequency Jump Analysis of the Bitcoin Market, Journal of Financial Econometrics, Volume 18, Issue 2, Spring 2020, Pages 209–232, https://doi.org/10.1093/jjfinec/nby013
  • Ai Jun Hou, Weining Wang, Cathy Y H Chen, Wolfgang Karl Härdle, Pricing Cryptocurrency Options, Journal of Financial Econometrics, Volume 18, Issue 2, Spring 2020, Pages 250–279, https://doi.org/10.1093/jjfinec/nbaa006
  • Wolfgang Karl Härdle, Campbell R Harvey, Raphael C G Reule, Understanding Cryptocurrencies, Journal of Financial Econometrics, Volume 18, Issue 2, Spring 2020, Pages 181–208, https://doi.org/10.1093/jjfinec/nbz033
  • Christian M Hafner, Testing for Bubbles in Cryptocurrencies with Time-Varying Volatility, Journal of Financial Econometrics, Volume 18, Issue 2, Spring 2020, Pages 233–249, https://doi.org/10.1093/jjfinec/nby023
  • Simon Trimborn, Mingyang Li, Wolfgang Karl Härdle, Investing with Cryptocurrencies—a Liquidity Constrained Investment Approach, Journal of Financial Econometrics, Volume 18, Issue 2, Spring 2020, Pages 280–306, https://doi.org/10.1093/jjfinec/nbz016
  • Andrea Bucci, Realized Volatility Forecasting with Neural Networks, Journal of Financial Econometrics, Volume 18, Issue 3, Summer 2020, Pages 502–531, https://doi.org/10.1093/jjfinec/nbaa008

IEEE

  • M. Saad, A. Anwar, S. Ravi and D. Mohaisen, “Revisiting Nakamoto Consensus in Asynchronous Networks: A Comprehensive Analysis of Bitcoin Safety and Chain Quality,” in IEEE/ACM Transactions on Networking, vol. 32, no. 1, pp. 844-858, Feb. 2024, https://ieeexplore.ieee.org/document/10225481
  • X. Luo, P. Zhang, M. Zhang, H. Li and Q. Cheng, “A Novel Covert Communication Method Based on Bitcoin Transaction,” in IEEE Transactions on Industrial Informatics, vol. 18, no. 4, pp. 2830-2839, April 2022, https://ieeexplore.ieee.org/document/9497763
  • E. Zaghloul, T. Li, M. W. Mutka and J. Ren, “Bitcoin and Blockchain: Security and Privacy,” in IEEE Internet of Things Journal, vol. 7, no. 10, pp. 10288-10313, Oct. 2020, https://ieeexplore.ieee.org/document/9122595
  • A. Manimuthu, R. Sreedharan V., R. G. and D. Marwaha, “A Literature Review on Bitcoin: Transformation of Crypto Currency Into a Global Phenomenon,” in IEEE Engineering Management Review, vol. 47, no. 1, pp. 28-35, Firstquarter,march 2019, https://ieeexplore.ieee.org/document/8651284
  • S. Zollner, K. -K. R. Choo and N. -A. Le-Khac, “An Automated Live Forensic and Postmortem Analysis Tool for Bitcoin on Windows Systems,” in IEEE Access, vol. 7, pp. 158250-158263, 2019, https://ieeexplore.ieee.org/document/8878085
  • M. Conti, E. Sandeep Kumar, C. Lal and S. Ruj, “A Survey on Security and Privacy Issues of Bitcoin,” in IEEE Communications Surveys & Tutorials, vol. 20, no. 4, pp. 3416-3452, Fourthquarter 2018, https://ieeexplore.ieee.org/document/8369416
  • M. C. Kus Khalilov and A. Levi, “A Survey on Anonymity and Privacy in Bitcoin-Like Digital Cash Systems,” in IEEE Communications Surveys & Tutorials, vol. 20, no. 3, pp. 2543-2585, thirdquarter 2018, https://ieeexplore.ieee.org/document/8325269
  • M. Rahouti, K. Xiong and N. Ghani, “Bitcoin Concepts, Threats, and Machine-Learning Security Solutions,” in IEEE Access, vol. 6, pp. 67189-67205, 2018, https://ieeexplore.ieee.org/document/8528406
  • F. Franzoni and V. Daza, “SoK: Network-Level Attacks on the Bitcoin P2P Network,” in IEEE Access, vol. 10, pp. 94924-94962, https://ieeexplore.ieee.org/document/9877811
  • J. Bohr and M. Bashir, “Who Uses Bitcoin? An exploration of the Bitcoin community,” 2014 Twelfth Annual International Conference on Privacy, Security and Trust, Toronto, ON, Canada, 2014, pp. 94-101, https://ieeexplore.ieee.org/document/6890928

Articles by institutes, journalists, and researchers

Books

  1. Broken Money 1 The Bitcoin Standard: The Decentralized Alternative to Central Banking
  2. The Truth Machine: The Blockchain and the Future of Everything by Paul Vigna and Michael J. Casey: although not mainly focused on Satoshi, this book provides context and insights into the early days of Bitcoin.
  3. Mastering Bitcoin: Unlocking Digital Cryptocurrencies by Andreas M. Antonopoulos: this comprehensive guide to Bitcoin covers its technical aspects, including the role of Satoshi Nakamoto. Read as Markdown for free (from the author’s repository)
  4. Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction by Narayanan, Bonneau, Felten, Miller, and Goldfeder: This book is used to teach Bitcoin in universities across the globe.
  5. The Sovereign Individual by James Dale Davidson & William Rees-Mogg:
  6. The book of Satoshi: The collected writings of Bitcoin creator Satoshi Nakamoto [PDF]

Other researchers

Bitslog

The following content is from Bitslog, the blog of Sergio Demian Lerner, independent security researcher and Bitcoin specialist since 2011.

Jameson Lopp

Satoshi Nakamoto websites

  • The Satoshi Nakamoto Institute makes some information and resources freely available, including communications, code archives, quotes, and a sizeable library of relevant papers.

Questions

Tools

  • binvis a fun binary file visualization app
  • SatoshiBlocks created to help Bitcoiners visualize public information about mining in the early times of Bitcoin.

Nakamoto Research ▪ personal Bitcoin research notes by obxium ▪CC BY-NC-ND 4.0. This content makes no claims about the identity of Satoshi Nakamoto.