Satoshi Nakamoto, the programmer who created Bitcoin, disappeared as suddenly as the coin was created.
Satoshi Nakamoto is considered the creator of Bitcoin, the world’s first cryptocurrency in 2008. On April 23, 2011, Nakamoto sent a goodbye email to a Bitcoin programmer with the content “I have switched to do other things”. Since then, no one has heard or seen Nakamoto appear.
Currently, the Bitcoin market value is more than 700 million USD, once up to 1 trillion USD. Besides Nakamoto’s identity, the factor that makes the “father” of Bitcoin interesting is that he owns more than 1 million Bitcoins, equivalent to 5% of Bitcoins in circulation.
Bitcoin was created in 2008, but its “father” withdrew from the project after 3 years. Photo: Bitcoin UK.
Created Bitcoin then suddenly withdrew
Any Nakamoto buying and selling of Bitcoins could have a big impact on the cryptocurrency market. In its filing with Nasdaq for an initial public offering (IPO), cryptocurrency exchange Coinbase mentioned that Nakamoto’s identity, or transactions, were among its business risks.
According to the Robb Report, Coinbase even sent copies of records to Nakamoto’s alleged email address.
Bitcoin was born in 2008 when Nakamoto published a white paper describing a digital currency for secure, peer-to-peer transactions without the supervision of intermediaries, including governments, financial systems or companies.
Transactions are monitored through a blockchain ledger, a global network of computers to validate transactions in the form of a string of encrypted data. Only 21 million Bitcoins exist.
Nakamoto created Bitcoin to bring a system of monetary control to everyone. The first Bitcoin transaction was recorded when Nakamoto sent 10 Bitcoins to Hal Finney, the programmer who downloaded the Bitcoin software on launch day.
The first commercial Bitcoin transaction took place in 2010, when programmer Laszlo Hanyecz bought 2 pizzas for 10,000 Bitcoins. Currently, 10,000 Bitcoins is roughly 400 million USD.
Programmer Gavin Andresen is Satoshi Nakamoto’s great assistant, but it is never known who Nakamoto’s true identity is. Photo: Bitcoin News.
Bitcoin is an open source platform. No single individual owns or controls the entire Bitcoin network. Not only Nakamoto, users and programmers joined Bitcoin forums to contribute to the project. One of them is Gavin Andresen, who has been coding for Bitcoin since 2010 and has become an effective partner of Nakamoto.
When Nakamoto withdrew from Bitcoin in 2011, a goodbye email was sent to Andresen. The programmer doesn’t know what Nakamoto’s next project will be, though. Andresen himself is also more private, no longer playing the role of “core maintainer” of Bitcoin. That will soon become as decentralized as the cryptocurrency itself.
Who is Satoshi Nakamoto?
The effort to find out Nakamoto’s identity has always been of interest to the tech world. On the Internet, there are many theories that Nakamoto belongs to a mafia group (known in Japan as the Yakuza), part of a community of programmers, criminals, money launderers or maybe a woman.
In 2014, the page reporter Newsweek Dorian Nakamoto, 70 years old in Los Angeles (USA) is the creator of Bitcoin. Despite working in the technology industry, Dorian Nakamoto vehemently denies having anything to do with Bitcoin. A day later, Satoshi Nakamoto appeared on a forum, asserted that it was not Dorian Nakamoto and continued to disappear.
Dorian Nakamoto (left) denied the creation of Bitcoin, and Craig Wright (right) once claimed to be the “father” of this currency. Photo: The Sun.
In 2016, Australian programmer Craig Wright claimed to be the “father” of Bitcoin. Andresen, who used to be Nakamoto’s “right hand”, confirmed that 98% of Wright is Satoshi Nakamoto. Wright’s statement caused controversy in the crypto community, prompting him to retract his statement.
Suspicion also goes to Nick Szabo, the cryptocurrency expert who contributed significantly to the development of Bitcoin. Linguists have analyzed Szabo’s use of the language with several other individuals who may be Satoshi Nakamoto, and have determined that Nick Szabo’s accent is the most similar. However, Szabo denies the creation of Bitcoin.
So far, the truth behind Satoshi Nakamoto remains a mystery. Owning a fortune of tens of billions of dollars can be the reason why this person wants to hide. With the current potential of Bitcoin, Nakamoto could completely get into legal trouble, be punished by the government if he revealed his identity.
Even so, Satoshi Nakamoto’s efforts to find the real person continue. His threat to the cryptocurrency market is too great, while the mystery surrounding this person attracts the curiosity of many. In a world where people’s identities are easily revealed today, Satoshi Nakamoto has been very successful in keeping a secret.
According to the Zing/Robb Report
Elon Musk is looking to save Bitcoin
On Twitter, Tesla CEO revealed that he had met with leaders of Bitcoin mining companies to discuss how to reduce the environmental impact of this activity.