Satoshi Nakamoto

Satoshi Nakamoto: Inventor of Bitcoin

The first thing that would get in your mind about the name Satoshi Nakamoto would be a Japanese, because that’s how the name suggests, right? But leaving behind your first impressions about the name, you are here because you are curious about who the inventor of Bitcoin is. Here you’ll learn more about Satoshi Nakamoto, his intentions in creating Bitcoin and the revelation of his identity.

Satoshi Nakamoto is a pseudonymous of a computer programmer (or multiple programmers) that started the whole virtual currency called Bitcoin. Most people were probably assuming that the guy is Japanese and if you take a look at any previous records with the man, it was claimed that the creator is living in Japan and it is where Bitcoin was born.

Internet Mystery

Satoshi Nakamoto’s identity is one of the most enthralling stories ever to happen in technology. Back in the year 2008, after Occupy Wall Street happened, Nakamoto introduced Bitcoin with the white paper. In the year 2011, Nakamoto vanished just as the Bitcoin project started to hit its stride. All his frequent posts in the forum and emails started losing its traction – his trace began disappearing and eventually all into silence. In the last correspondence he made, he told a developer of Bitcoin that he started to move on other things.

Over the years journalists have been trying to identify who Satoshi Nakamoto really is but they have been all misleading. What’s more, they have only misidentified certain people, which only made the story all the more intriguing.

Dorian Nakamoto

In 2014, magazine Newsweek, identified Dorian Prentice Satoshi Nakamoto, a Japanese American man living in California, as the inventor of Bitcoin. However, Dorian Nakamoto denied all connection to bitcoin, saying he had never heard of the currency before and that Newsweek had gotten all their claims wrong.

Craig Wright

Craig Wright, an Australian entrepreneur came forward suddenly last year and claims to be that he is Nakamoto. This was published in Gizmodo and Wired and his named even trended in Twitter for several hours. His handsome visage was even posted in various web sites all over the world, not to mention they are on the front page.

Then hell broke loose in the digital world. The community surrounding bitcoin turned into a hive of extremely opinionated geeks and they started poking holes on the evidences presented by Wright. Even with all these skepticism thrown against this man, Craig Wright then pulled a Nakamoto-like action, even one highly respected security researcher labelled his whole claims as being “scam”. Wright completely disappeared without even delivering on the promise that will provide that “extraordinary proof” of his own identity. He deleted the blog he managed and changed it all with an apology, wherein he stated that he did not have enough courage to continue to trying proving his case.

Does the identity of Satoshi Nakamoto even matter?

Even in all these frenzy that surrounded the story of Wright, it was a refrain where it might pop up any time that the latest person associated or who Nakamoto is really will be rolled out. Yet some are asking if this really matters at all? According to Jason Weinstein, a Bitcoin entrepreneur told Slate that knowing Satoshi’s identity is just as significant as knowing who crated HTML or HTTP. People communicate daily, get information, socialize, transact business, and even move money over the Internet with the use of these protocols without even knowing who created them or how they even work.

When it comes to investigating the background of the inventor, people hope to learn something in regards of the innovation that just can’t be taken from wherever it came from. But to those faithful to Bitcoin in their search for Nakamoto, it can add no other value at all. The chief innovation surrounding Bitcoin is decentralization, wherein every transactions are seen by computers that are distributed over the network. This means that there is no central authority that controls it, like governments or banks.

Yet the idea that finding out about Nakamoto’s identity is not really relevant is wishful thinking according to many. The most obvious part here is that the identity of Nakamoto really matters since he is seen as someone that controls billions of dollars of Bitcoin, wherein if this were to be unloaded quickly, it can depress the value of such a highly volatile currency.