Introduction
Satoshi Nakamoto, a pseudonym, authored the Bitcoin whitepaper in 2008 titled “Bitcoin: a peer-to-peer electronic cash system” (which can be found on bitcoin.org). Although Satoshi did not invent blockchain, he was the first to develop a decentralized currency based on blockchain technology.
Bitcoin was officially launched in 2009, but prior to that, the name had already been used in email communications and forum posts. However, in 2011, all communication from Satoshi ceased, and their identity remains a mystery, leading to much debate and accusations about the creation of Bitcoin.
So, who exactly is Satoshi Nakamoto, and what is the identity of the individual or group responsible for creating one of the most groundbreaking technologies of the 21st century? Let’s explore that further.
Possible identities of Satoshi Nakamoto
Three years after publishing his white paper on Bitcoin and mining the genesis block, Nakamoto bowed out of the cryptocurrency scene.
He sent an email to another Bitcoin developer on April 23, 2011, saying that he had “moved on to other things,” and that the cryptocurrency’s future was “in good hands.” Since then, there has been no communication from Nakamoto’s previously known email addresses.
Throughout Bitcoin’s long history, nothing has been more controversial than the identity of its founder. Numerous speculations have surrounded Nakamoto’s identity. Some people claimed that Nakamoto was the pseudonym of a group of cryptographers, not just one person. Yet others surmised that he might be British, a member of the Yakuza, a money launderer, or a woman disguised as a man.
Over the years, a few individuals have been suspected of being the man behind the elusive pseudonym:
Hal Finney
Hal Finney is one of the leading candidates for being Satoshi Nakamoto. He was an early adopter of Bitcoin, received the first Bitcoin transaction, and was an original cypherpunk in the 1990s.
Unfortunately, Hal Finney passed away in 2014 after suffering from a nerve disease that left him paralyzed for some time before his death. Despite being a likely candidate, he always denied that he was Satoshi Nakamoto.
Nick Szabo
Another potential candidate is Nick Szabo, a well-known computer scientist who created a digital currency called “bit gold” prior to Bitcoin. His communication within the cypherpunk community and writing style were similar to Satoshi’s.
Nick Szabo has also denied being Satoshi Nakamoto, but many in the cryptocurrency community remain unconvinced. There are numerous parallels between Nick and Satoshi that may be more than mere coincidence.
Dorian Nakamoto
Dorian Nakamoto is a Japanese-American man whose real name is Satoshi Nakamoto. He has worked as a computer engineer for technology and financial services companies and lived in the same area as Hal Finney for over a decade.
In an interview, Dorian initially claimed to have been involved in creating Bitcoin but later retracted his statement, saying he misunderstood the question. Since then, he has denied having any involvement in the project and claimed that he was not aware of its existence until the media attention around him began.
What Is Satoshi Nakamoto’s Net Worth?
Nobody knows how much Satoshi Nakamoto is worth, and this is due to the anonymous nature of Bitcoin and investigators’ inability to be certain which wallets Nakamoto owns.
It’s assumed that Nakamoto owns at least 1 million Bitcoins. At today’s prices, it can be assumed Nakamoto owns roughly $20 billion in BTC.
However, other than the original 10 BTC transferred to Hal Finney in 2009, none of this Bitcoin has ever been removed or moved from any of its wallets since it was originally mined, presumably by Nakamoto. The value of this Bitcoin, though, might be one reason why Nakamoto wants to remain anonymous.
The wealth Bitcoin has generated could lead to upheaval in any individual’s life. Not to mention, the creator of Bitcoin could also face grave consequences from nefarious individuals or even governments.
This leaves many people wondering: Who is Satoshi Nakamoto? Is Bitcoin’s creator alive? Why hasn’t he, she or they come forward? Will we ever discover the truth about the anonymous genius behind one of the most important financial developments of the 21st century?
Many blockchain experts, like Andrew Lokenauth, founder of the financial resource site, Fluent in Finance, think we’ll probably never know the answers to any of these questions. One thing is certain, though, whoever created Bitcoin wanted to remain anonymous for one reason or another, and that person (or people) has done a good job at that.