The creator of Bitcoin – Satoshi Nakamoto

BlogNovember 25, 2021

capital.com – The broker you should try to trade cryptos & US stocks. Learn more!

Satoshi Nakamoto is the pseudonym behind the development of Bitcoin and the author of the original Bitcoin whitepaper. The question "Who is Satoshi Nakamoto?" has led to speculation about their true identities. Bitcoin's creator has been shrouded in mystery for over a decade. However, it is clear that Satoshi still owns bitcoins because their public key is retrieved from the original block that Satoshi mined.

The Birth of Bitcoin and Satoshi Nakamoto

Satoshi Nakamoto is the author who published the white paper on Bitcoin in 2008. The article is titled “Bitcoin: a peer-to-peer electronic cash system.” Satoshi did not invent blockchain, but he was the first to create a decentralized currency based on blockchain technology.

Bitcoin was officially launched in 2009. However, long before that, the mysterious name was used in email communications and forum posts.

Three years after publishing his white paper on Bitcoin and native block mining, Nakamoto has retired from the crypto scene.

He sent an email to another Bitcoin developer on April 23, 2011, stating that he was “moving on to other things” and that the future of cryptocurrency was “in good hands.” Since then, there has been no contact from Nakamoto’s previously known email addresses.

Satoshi Nakamoto’s Activities Before Disappearance

  • August 2008: Satoshi or his colleague registers the domain name bitcoin.org
  • October 2008: Satoshi publishes Bitcoin whitepaper
  • Next, he created the Bitcointalk forum and posted his first message under the pseudonym Satoshi
  • January 3, 2019: Satoshi mines the first Bitcoin block. This block is called Genesis or block zero with a block reward of 50 BTC.
  • Satoshi collaborated with many other developers to modify the source code until mid-2010.
  • He then gave control of the source code repository and network alarm key to Gavin Andresen. In addition, he also transferred some related domains to a few prominent members of the community and then disappeared.
  • During that period, he said that he had been coding Bitcoin since 2007.

Who is Satoshi Nakamoto?

Satoshi Nakamoto has identified himself as male, Japanese, and was born on April 5, 1975. With Satoshi Nakamoto no longer talking to the rest of the world, speculations about their true identities have ramped up. Many people and groups are considered the real Satoshi Nakamoto. However, only a handful of candidates have proven to be notable.

Hal Finney

Out of all the possible Satoshi Nakamoto, Hal Finney is one of the most likely. Hal was an early Bitcoin user and the first recipient of a Bitcoin transaction. He is also a software developer and one of the original cypherpunks in the 1990s.

Sadly, Hal Finney passed away in 2014 after suffering from a neurological illness that left him paralyzed for some time before his death. He has always denied that he is Satoshi Nakamoto.

Nick Szabo

Another highly likely is Nick Szabo, a prominent computer scientist. He created a digital currency “bit gold” years before Bitcoin. His communication in the cypherpunk community strongly overlaps with Satoshi’s as well as his writing style and communication timing.

Nick Szabo has denied that he is Satoshi Nakamoto, but many in the crypto community are not convinced. There are many similarities between Nick and Satoshi, which may or may not be coincidental.

Dorian Nakamoto

Dorian Nakamoto is a Japanese-American man whose birth name is Satoshi Nakamoto. He has worked as a computer engineer for technology and financial services companies, even living in the same area of ‚Äč‚ÄčCalifornia as Hal Finney for over a decade.

Dorian gave an interview to participate in the development of Bitcoin. However, he later retracted his claim that he misunderstood the question. Since then, he has denied working on the project and did not even know it existed until the media frenzy surrounding him ensued.

Satoshi Nakamoto later confirmed on an online Bitcoin forum that they are not Dorian Nakamoto – putting an end to the rumors.

Craig Wright

While Dorian Nakamoto denies being Satoshi Nakamoto, Australian computer scientist Craig Wright claims he is behind the pseudonym.

Wright announced his identity in 2016 after Wired Magazine published his profile in December 2015. The article was titled “Is Bitcoin’s Creator This Unknown Australian Genius?” and seems to be based on leaked documents for Wired.

Wired later retracted its statement and edited its post with the headline “Is Bitcoin Creator This Unknown Australian Genius? Probably not”.

After doubts from the crypto community, Wright eventually backed down from the statement.

Why is the creator of Bitcoin anonymous?

The question is why the founder of Bitcoin, who is considered an expert with vast wisdom in many fields, has to do everything to conceal his identity and ensure his anonymity? Possible reasons to answer the above question

Satoshi wants to create a peer-to-peer and distributed platform, so many believe that he maintains his anonymity to ensure that the head of the entire network is not him. People will also trust the operation of the network, not him.

In addition, if the identity of this founder were made public, many of his statements and statements would be speculated to be investment advice. For a cryptocurrency like Bitcoin, publicly advising the founder can lead to significant price impacts across the entire market.

The most concrete evidence for the saying that the founder’s investment advice is the case of Charlie Lee, the founder of Litecoin. He once wrote a post on Reddit that he was criticized for doing it for personal gain whenever he talked about Litecoin price, good or bad news. People even think that he is a surf trader of LTC. So he owned LTC and then talked about it creating a conflict of interest, simply because he was influential and the founder of this coin.

Was Satoshi also worried that the same thing would happen and decided to maintain his anonymity for now?

It is also worth mentioning that Bitcoin is used quite widely for both legal and illegal activities; In fact, so is the national currency. However, it is worth noting that this coin is quite famous in the black markets due to its anonymous nature. Because of that, perhaps its founder is coming to light also coincides with many troubles related to litigation, investigative activities, criminal investigations, or even the Bitcoin-related lawsuits related to money laundering or drugs.

The Father of Bitcoin and Arguments

Despite the media’s efforts to investigate and reveal the identity of Satoshi Nakamoto, he remains a mysterious figure that is still unknown to people in the real world.

It can be interesting to look at what we know about Nakamoto, either from a public profile.

Satoshi Nakamoto is a coding genius.

The New Yorker considers Nakamoto an “unusually talented computer programmer” who created Bitcoin with “thirty-one thousand lines of code.” The reason why the platform remains safe, secure, and reliable is thanks to Nakamoto’s near-perfect code. It’s bug-free – the reason why one cannot hack since its creation.

In a 2011 article titled “Cryptocurrency: Bitcoin and Its Mysterious Inventor,” the New Yorker reported how well-known and experienced Internet security researcher Dan Kaminsky attempted to crack the Bitcoin code – and failed.

Kaminsky is excited to be able to find similar deadly vulnerabilities in Bitcoin. He sees it as an “easy target,” one that can easily be compromised. What he encountered, however, was Satoshi’s near-perfect cipher, which he later discovered was impenetrable.

Satoshi Nakamoto is fluent in British English.

Nakamoto’s code and Bitcoin white paper reveal that the famous programmer is fluent in English, especially British English. The reason why some believe Nakamoto may be British, despite his claims to be Japanese.

Also, their communication mainly takes place during European business hours, so it is speculated that they do not reside in Japan.

Satoshi Nakamoto can be more than one person.

There are also claims that Nakamoto may not be just one person. Instead, they could be a group of people who perfected and created the code behind Bitcoin. Thanks to its unique code, Bitcoin continues to thrive alongside other cryptocurrencies.

Like Bitcoin developer Laszlo Hanyecz, some believe that the level of encryption with which Bitcoin is made will require more than just one person.

No one is sure whether Satoshi is male or female.

For all we know, the whole “Satoshi” could be a smokescreen to hide the identity of a female genius.

Similar to how no one is sure if Satoshi is Japanese or not, people are theorizing that he could also be a woman.

In a male-dominated industry like technology, it is not too far-fetched for a woman to use a male name to gain an equal footing among her peers. Historically, female writers have used male pseudonyms to penetrate the literary scene and gain the respect traditionally accorded to male authors.

Conclusion

Whoever Satoshi Nakamoto is, they are all wealthy. Technologists tracked down where Satoshi stored his bitcoins.

Since the beginning of 2009, Satoshi Nakamoto has not spent a single satoshi. Estimates vary on how much BTC Satoshi is in possession, but most people agree that it is around 1 million bitcoins. That would make Satoshi one of the wealthiest billionaires on the planet.

Read more: Binance

guest
0 Comments
Inline Feedbacks
View all comments