The person or group responsible for creating Bitcoin goes by the name of Satoshi Nakamoto. After successfully publishing the whitepaper and launching the network, no one knows who this is. Even today, the community is no closer to figuring out this mystery.
Satoshi Nakamoto is a Mystery
It is not uncommon for people to use a pseudonym when conducting an online activity. Whether it is a nickname, chat name, or an alias like Satoshi Nakamoto, they can all provide a small degree of privacy. One difference is how Satoshi is responsible for creating Bitcoin, the world’s leading cryptocurrency valued at over $710 billion in market cap.
Ever since the release of the Bitcoin whitepaper and the launch of the network, people have wondered who is behind this pseudonym. Satoshi Nakamoto may be the person’s real name, albeit that seems unlikely. It can often be tricky to attribute a real-world identity to an online character, as they don’t have to correlate in the slightest.
Satoshi The Bitcoin Whale
A whale often refers to someone who owns a significant amount of wealth. In Bitcoin’s case, a whale is someone who has a substantial portion of the circulating supply associated with their wallet. As the creator and first miner of Bitcoin, Satoshi Nakamoto has – allegedly – built up a multi-billion dollar Bitcoin portfolio during the early days. The funds exist across different Bitcoin addresses. There is still some debate as to whether these addresses all belong to the creator of Bitcoin, however.
One thing that baffles many enthusiasts is why Satoshi Nakamoto is not selling his BTC supply. Given the current value, it is incredibly appealing to liquidate a portion of the funds. One possible reason is how Satoshi never created Bitcoin for monetary gain. Others claim that Nakamoto has died and no one knows the private key to control the funds. Whichever explanation is correct, it seems unlikely anyone will ever move this supply again.
It is worth noting Satoshi has never spent a lot of Bitcoin. Hal Finney’s transaction is by far the most significant one, but Satoshi spent roughly 500 BTC in total. At the time, Bitcoin had no value, and there was nothing to buy with BTC either. Things certainly look very different today, but Satoshi Nakamoto may never return to this project.
These People Are Not Satoshi
As the media likes to figure out who Satoshi Nakamoto is, they tend to offer theories now and then. Over the years, several people have come in the crosshairs, yet none of them seem to fit the profile. There has been less desire to identify Satoshi in recent years, but the search is not over yet.
Nick Szabo seems a likely candidate to be Satoshi Nakamoto. As a computer scientist and cryptography buff, he has the necessary knowledge to pull it off. Szabo also created Bit Gold, a precursor to Bitcoin. To this date, Nick refutes any likeness to Satoshi Nakamoto.
Dorian Nakamoto – full name Dorian Prentice Satoshi Nakamoto – is perhaps the most famous “witch hunt” in Bitcoin history. An American news source claimed they had found Satoshi Nakamoto and even provided his name and address to the public. This resulted in a very stressful period for Dorian, who claims he is not Satoshi Nakamoto, despite sharing the same name.
Hal Finney is another candidate on the list, although a rather unlikely one. While Hal actively emailed with Satoshi and helped improve the first Bitcoin clients, it is doubtful he is the creator of Bitcoin. Finney was the first person to receive a BTC transaction, however. On August 28, 2014, Hal Finney passed away due to ALS complications. The Alcor Life Extension Foundation cryopreserved him.
The last name on this list is Craig Steven Wright. While he created Bitcoin SV – a fork of Bitcoin that hardly anyone uses – he has been unable to back up any claims of being the real Satoshi Nakamoto. Wright is primarily known for his patents, although those won’t automatically make BSV more popular.
Satoshi Nakamoto Quick Facts
Over the past twelve years, there have been some interesting facts and tidbits associated with Bitcoin’s creator worth mentioning.
- The smallest unit of a Bitcoin – 1 / 100 millionth – is called a Satoshi.
- Satoshi never wanted Wikileaks to use Bitcoin.
- Although no evidence exists to point in this direction, there is a chance Satoshi Nakamoto may be a female.
- Satoshi is a 2015 Economic Sciences Nobel prize nominee but didn’t win.
- Nakamoto’s email account – [email protected] – was hacked in 2014. No information about the Bitcoin creator’s real identity has been obtained.
- Several years ago, Satoshi appeared to be writing a book. To date, the book remains a mystery, and the author is probably not the creator of Bitcoin either.
It is safe to say that Satoshi Nakamoto will always remain a mystery. Creating Bitcoin was his/her/their most generous gift to society, even though Bitcoin is still vastly underappreciated by the masses. A viable solution to achieving global financial inclusion without intermediaries is a golden opportunity.
Whether we will even figure the real identity of Bitcoin’s creator remains anyone’s guess. It is crucial to state this knowledge is not paramount, as Satoshi seemingly never wanted the spotlight. Bitcoin belongs to everyone, yet we must all respect the pseudonym that created it.