Who is Satoshi Nakamoto?
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Satoshi Nakamoto was the creator of Bitcoin. However, nobody really knows who he, she or they are. There have been a number of theories, but none seem to have stuck. Nakamoto's identity has a number of implications, not only for tax, but crime, too.
The name Satoshi Nakamoto is synonymous with cryptocurrency - but who is behind the mysterious moniker? This quick guide will give you some clues.
What we know
In August 2008, someone anonymously registered the domain name, bitcoin.org.
In October 2008, an author who went by the name Satoshi Nakamoto published a paper on a mailing list at metzdowd.com - a site for cryptography fans.
The paper called, Bitcoin: A Peer-to-Peer Electronic Cash System explained how a digital currency called Bitcoin would work.
In January 2009, Nakamoto released the first version of the software that launched the network, as well as the very first Bitcoins.
In the very first block also referred to as the ‘genesis block’ Nakamoto left a text message.
'The Times 3 January 2009 Chancellor on brink of second bailout for banks'
It refers to an article published by The Times newspaper and offers tantalizing clues to who Nakamoto might be.
💡Did you know?
The first ever exchange of Bitcoin took place between Satoshi Nakamoto and Hal Finney, an early pioneer of cryptography before Bitcoin.
For the next 10 days Nakamoto was the only miner, harvesting more than 1 million bitcoins.
In 2010, Nakamoto handed over control of the repository where the source code to Gavin Andresen, a software developer.
On April 23, 2011, Satoshi Nakamoto sent its final email.
“I’ve moved on to other things. It’s in good hands with Gavin and everyone.”
He/She/They handed over the source code to the Bitcoin repository and disappeared.
All activity from Nakamoto stopped soon afterwards.
The wallets tied to Satoshi have never been accessed or spent since mid-2009.
💡Did you know?
If Bitcoin ever hits $60,000 Nakamoto will become the world’s richest person.
Who is he/she/they?
Many have tried to uncover the secret identity of Satoshi Nakamoto.
Some have said it’s an amalgam of different companies:
- Samsung and Toshiba together makes —- Satoshi
- Nakamichi and Motorola together makes —- Nakamoto
Others have pointed to several individuals. Chief among them are:
- 👨💻Nick Szabo - a US computer scientist who created an ancestor of Bitcoin
- 👨🎤 Craig Steven Wright - an Australian entrepreneur who convinced the BBC and others.
- 👨🔬 Dorian Nakamoto - a physicist and systems engineer based in California
- 👨🚀Hal Finney - a cryptographer and early developer of Bitcoin who died in 2014.
Some have said it’s a collection of different people.
No one seems to know for sure.
💡Did you know?
People keep sending Bitcoin to Nakamoto’s wallet via anonymous donations - as a small way of saying thanks for the work he/she/they have done.
Why is it important to know?
There are a lot implications to being the creator of Bitcoin:
- 🏦Tax - Nakamoto owns a lot of Bitcoin
- 👺Crime - many think Nakamoto is partly responsible for allowing people using Bitcoin to commit crimes
- 🕵️♀️ The mystery - He/she/they are the founder of the world’s biggest cryptocurrency, it’s like a crime novel!
💡Did you know?
At one point, Satoshi Nakamoto was the 44th richest person on earth thanks to the million bitcoins he/she/they mined in Bitcoin’s early days.
The future
Most people believe Satoshi Nakamoto will never be discovered or unearthed. But regardless of whether that will happen or not, the legacy left behind by Nakamoto has lead you here to reading this post.
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