In the crypto world, Bitcoin has been an irreplaceable monument since it was born, even those who are not interested in the market have heard about it at least once. Bitcoin is considered the king of ruling coins, and its creator is Satoshi Nakamoto, one of the mysterious people whose identity has not been confirmed so far.
“Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed Bitcoin, authored the Bitcoin white paper, and created and deployed Bitcoin’s original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database. Nakamoto was active in the development of Bitcoin up until December 2010. Many people have or have been claimed to be Nakamoto,” according Wikipedia.
Who is Satoshi Nakamoto?
Up to now, there is still an unanswered question in the world cryptocurrency user community. Since the birth of Bitcoin, this currency has increased in value by tens of thousands of percent.
The market capitalization of over $1 trillion makes the whole world surprised by the attraction of the cryptocurrency that can only buy less than 2 pizzas. Until now, it is still not possible to understand Satoshi’s disappearance without a trace. And if one day Satoshi Nakamoto returns, what will happen to Bitcoin.
Until now, people still only know that Satoshi Nakamoto is an anonymous programmer who is credited with creating the Bitcoin network. During the research and production of the first Bitcoin, no one knew the exact identity of Satoshi. Even colleagues working on the same project have never met but only contacted this person through email.
An unidentified character, male or female, an individual or a group of people, living in which country. He first appeared in an article written about Bitcoin signed under the name Satoshi Nakamoto. He is said to be the father of Bitcoin.
Everyone only knows that since 2007, Satoshi has been researching and designing the Bitcoin transaction network. His goal was to be able to create a system that would allow buyers and sellers to transact directly with each other without having to gain trust. At that time, perhaps the number of people who knew exactly what Bitcoin was could only be counted on the fingers.
Bitcoin was first mentioned on October 31, 2008, in the article “Bitcoin: A Peer-to-Peer Electronic Cash System” about Satoshi Nakamoto’s peer-to-peer payment protocol. It began to be used on January 3, 2009, with the birth of the original Bitcoin block (genesis block).
After an introductory post about the working mechanism of Bitcoin, the creator of this coin also gradually became less active. Even in the list of 100 developers with the most contributions to the Bitcoin Blockchain project, there is no Satoshi Nakamoto named.
Since mid-2010, the community has gradually lost contact with Satoshi, he gave Gavin Andresen an alarm key when the Bitcoin network was hacked. This key can be used to alert the entire network to stop saving transactions.
The last post-Satoshi posted on the Bitcointalk forum is from December 2010. In this post, he introduces an updated version of the core of the Bitcoin chain. Since that time, he is no longer seen on this forum.
After disappearing on the Bitcointalk forum, Satoshi still keeps in touch with some key members such as Gavin, Martti, and Mike Hearn. In May 2012, he sent Martti Malmi one last email exchange with the content “I will not appear anymore because right now I have many other things to do”. Since then, Satoshi seems to have completely disappeared from the world, no one can contact him anymore.
He is said to own up to 1 million Bitcoins and has not sold a single coin.
To date, the exact identity of Satoshi Nakamoto has not been determined. He became the most mysterious person on the planet in the early 21st century.
Why did Satoshi Nakamoto disappear?
Theory 1: Avoiding legal problems
The network that Satoshi created, if accepted, could compete directly with the current centralized financial system. At that time, the central bank no longer plays a key role in coordinating global financial markets. Governments in operating countries do not want that scenario to happen.
Imagine a huge network of exchanges that directly support buyers with sellers like Bitcoin unsupervised by any authority, would it be difficult for governments to stand still?
Perhaps partly anticipating the above scenario, Satoshi Nakamoto is soon finding himself a safe way back. Despite disappearing from the Bitcoin world, according to many experts, Satoshi still owns at least 1 million BTC. Therefore, even though he did not participate in running the project, Satoshi freely enjoyed a royal life without worrying about being touched by the law.
Theory 2: Satoshi is already a billionaire
Satoshi Nakamoto was the one who mined the first Bitcoin blocks. According to some experts’ calculations, the lowest number of Bitcoins he holds is also about 1 million BTC. In theory, the supply of this coin has been capped at 21 million BTC. Currently, the total market capitalization of Bitcoin has exceeded $1 trillion.
So with the current market value, Satoshi is holding approximately $50 billion, among the top richest people in the world today. If he went public, he would certainly not avoid accusations of taxes and many other problems.
Although the time when Satoshi withdrew Bitcoin was not as high as it is now. But in the period 2010 – 2021, the cryptocurrency started to have a positive move in price (the highest price in 2011 was 32 USD/BTC). So instead of fighting the project and facing the threat of governments, Satoshi chose to disappear.
He can completely relax with a fortune of tens of billions of dollars without worrying about being watched. Of course, this is just a subjective guess of many people, but it does not mean that this hypothesis is not likely to happen.
Theory 3: Satoshi Nakamoto wants the world to know the anonymity of Bitcoin
The outstanding feature of Bitcoin and its Blockchain system is anonymity. This means that the buyer or a friend does not need to go through an intermediary, their identity is completely unknown.
So even if they hold millions of dollars, people still have no way to determine who Satoshi Nakamoto is, and who he is dealing with. Perhaps he wanted the world to know that he had created the most freely exchangeable currency ever. Thanks to its hidden nature, billions of people are being attracted to Bitcoin.
Characters that were rumored to be Satoshi Nakamoto
Finney was one of the few early participants in the development of the Bitcoin network and has played an important role in the development of this digital currency. However, he repeatedly claimed to have worked with and accompanied Satoshi Nakamoto, not the creator of Bitcoin.
In a blog post from 2013, Finney said he was intrigued by the idea of decentralized currency. He also mined the first blocks and received the first 10 Bitcoins from block 70 that Satoshi sent. “I think I’m dealing with a man of Japanese descent, young but smart and sincere. I feel so lucky,” Finney said.
Before his death in 2014 from a degenerative neurological disease, he asserted that he still did not know who Satoshi was.
Dorian S. Nakamoto
When searching on Google for the phrase “Satoshi Nakamoto”, the first results will be an elderly Asian man named Dorian S. Nakamoto.
In 2014, Newsweek published a story about the identity of the creator of Bitcoin and took a picture of Dorian. He was immediately followed by the media for a long time. Speaking to the AP, he asserted that he “had only heard about Bitcoin for a few weeks” and “didn’t create, invent or work with Bitcoin”.
This claim was corroborated after the “real” Satoshi account mysteriously appeared in an online forum saying, “I’m not Dorian Nakamoto”. Mr. Dorian is now in his 70s and lives in Angeles with his mother.
In 2016, Australian businessman Craig Wright announced he was the creator of Bitcoin. This information is even more credulous when a Bitcoin developer, Gavin Andresen, says that Wright is “98% certain” that the creator of this digital currency.
The information quickly caught the attention of the crypto community, even the FBI. However, Wright later apologized. In 2020, he once again said he was the “father” of Bitcoin, but no longer attracted attention.
In November, the 51-year-old Australian programmer caused a stir again, related to the $64 billion lawsuits of the Kleiman family in Florida.
Specifically, in 2008, Satoshi Nakamoto sent a 9-page white paper to people with the same goal of creating an unregulated digital currency. A few months later, Bitcoin worked and Satoshi collects his first million coins.
Kleiman’s family confirmed that that year, Mr. Wright himself asked Mr. David Kleiman (who died in 2013) to help draft the nine-page dossier. “The two collaborated on the white paper and jointly launched Bitcoin,” Kleiman claim and is suing Mr. Wright to reclaim a portion of these one million Bitcoins, or $64 billion.
Nick Szabo has the “highest odds” of being a Bitcoin creator. This crypto expert not only built the foundation for Bitcoin’s early development but also created his own cryptocurrency called “bit gold” in the late 1990s.
In 2014, a research team analyzed the Bitcoin white paper and Szabo’s writing style. The team found “uncanny similarities” in the linguistic styles of the two. Later, another New York Times article also referred to Szabo as the father of Bitcoin. However, he repeatedly denied it.
Who is Satoshi Nakamoto? No one has been able to answer correctly. However, whether he is alive or has returned to the afterlife, his role in the job market from now on is undeniable.
Since its initial release, Bitcoin has become the most valuable digital asset. Its increase after more than 10 years reached tens of thousands of percent. Perhaps even Satoshi could hardly imagine that the cryptocurrency he created would be so influential.
Although it has disappeared from the Bitcoin market, the message that Satoshi left in the last email still makes the whole world ponder. He wants the money he creates to be in the hands of good people instead of becoming a tool in the hands of fraudsters and money launderers.
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