Sunday, December 4, 2022

Who Is Satoshi Nakamoto? Did He Invent Bitcoin?

Who Is Satoshi Nakamoto? Did He Invent Bitcoin?

The identity of Bitcoin’s creator remains the technology’s biggest mystery. Bitcoin’s original white paper and software were released by someone calling themselves “Satoshi Nakamoto” in 2008-9.

Satoshi stayed with the project until 2010, when “he” abruptly handed the project to developer Gavin Andresen and claimed have moved on to other projects.

There are many theories, but to date, no-one knows who Satoshi Nakamoto is/was. Several media outlets have now tarnished their reputations claiming to know for sure. If you read anything online claiming to reveal Satoshi’s identity, understand that no-one has yet proven anything.

“Satoshi Nakamoto” may be one individual or a group of developers. “He” may or may not even be alive today. The facts we do know are: Satoshi has a Japanese-sounding name but wrote in perfect English, often using British spellings. Also, the original bitcoins Satoshi mined in the network’s early days (estimated to be about a million BTC) have not moved from their original position.

Previous Satoshi Nakamoto Candidates

In March 2014 Newsweek magazine re-launched with a sensational article titled “The Face Behind Bitcoin“. It soon became a media farce involving a train-loving Japanese-Californian engineer whose birth name just happened to be Satoshi Nakamoto. More recently, Australian computer scientist Craig Wright put on an initially more convincing performance when he “confessed” to being Satoshi. Despite convincing several journalists and bitcoiners they’d finally found their man, Wright faltered when he was unable to prove cryptographically that he had the keys to Bitcoin’s first-ever, or “Genesis” block of transactions.

Each failed revelation only serves to make the public more skeptical. With each passing year it seems increasingly unlikely that we’ll ever know Satoshi’s true identity.

Anyone claiming to be Satoshi Nakamoto must make and sign a transaction using Satoshi’s known private cryptographic keys. On the other hand, despite the massive wealth it may be in Satoshi’s best interests to never reveal “himself” or touch those funds, for security and legal reasons.

Now that you know more about Satoshi Nakamoto, you may have even more questions, such as:

What is Bitcoin? A beginners’ guide to digital currency

How do I get some bitcoin?

Where can I use bitcoin?

What is the difference between bitcoin and blockchain?

How is bitcoin different from credit and debit cards?

What are bitcoin public and private addresses?

What is a bitcoin wallet?

Which mobile bitcoin wallet should I choose?

How do I keep my bitcoins safe and secure?

Who is Satoshi Nakamoto? Did he invent Bitcoin?

Is Bitcoin legal? Can I use Bitcoin in my country?

How anonymous or private is Bitcoin?

Is bitcoin secure? What are the risks of using Bitcoin?

Can I make money mining bitcoins?

What are “Altcoins”?

Should I Invest in Altcoins?

How can I avoid Bitcoin and cryptocurrency scams?

Image via CryptoPop!

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