Who is Satoshi Nakamoto, the inventor of Bitcoin?

· 4 min read
Who is Satoshi Nakamoto, the inventor of Bitcoin?

In recent years, Bitcoin has panicked the world of finance. It is an alternative means of payment over which States have no control. Indeed, Bitcoin does not have a physical existence and does not depend on any central bank. It cannot be disabled because the system is based on a network called " blockchain " powered by tens of thousands of computers on the planet. But who had the idea to develop the Bitcoin cryptocurrency? Until today, the quest for Satoshi Nakamoto's real identity continues. This is the pseudonym used by the person(s) who developed Bitcoin.

Since the beginnings of cryptocurrency, the identity of the inventor of Bitcoin has always fascinated Internet users. Many people thought they had found his tracks several times, but these searches ultimately proved fruitless. On January 3, 2009, a certain Satoshi Nakamoto launched Bitcoin, the first decentralized and reliable cryptocurrency. But in 2011, the latter disappeared from circulation. Thus, the identity of Satoshi Nakamoto remains a mystery. Many are trying to decipher the workings of the Bitcoin revolution in an effort to investigate the identity of its enigmatic creator. But, so far, he remains anonymous.

Satoshi Nakamoto's Identity Theories

When Nakamoto discussed technical issues regarding Bitcoin, he did not disclose any personal information. However, he made some comments on banking services and the fractional reserve system. In his 2012 P2P Foundation profile, Satoshi Nakamoto claimed to be 37 years old and living in Japan. However, many doubt that it is Japanese due to the fact that its Bitcoin software has no Japanese documentation or label.

Occasional English spelling and terminology in source code comments and in forum posts have led to speculation that Nakamoto, or at least someone in the consortium claiming to be him, is a Commonwealth native.

Indeed, in 2008, Satoshi Nakamoto reserved the domain name bitcoin.org. He then published his intentions in an English document. But his last message on a forum was in 2010. The following year, he wrote to Bitcoin contributors that he had moved on. Which suggests that he will not return. Since then, Satoshi Nakamoto has never given a sign of life.

According to Jean-Paul Delahaye, mathematician, computer scientist, and professor at the University of Lille, it is likely that behind the name of Satoshi Nakamoto hides an American person or entity. There are several theories about his identity, but it is unlikely that we have found out who it is. There is fascinating parallelism between the mysterious dimension granted to Bitcoin on the one hand and the history of its invention on the other.

According to professor of economics at the University of Dijon, Ludovic Desmedt: “The theories surrounding the birth of Bitcoin have to do with the context in which the coin was created and the idea that it is a money that eludes the banks”. We have even been able to speak of a crypto-anarchist community. These are ideas that have been circulating for more than 20 years.

Who is the face behind Bitcoin?

By releasing Bitcoin in 2019, Satoshi Nakamoto would have benefited from a favorable context. Indeed, in this period of the years 2008 and 2009, the image of the banks was tarnished thus encouraging the desire for change. However, the mythological aspect linked to Bitcoin is not new in the history of money, according to Professor Ludovic Desmedt. And as in all myths, its followers are tempted to understand its mysteries: the hunt for the identity of Satoshi Nakamoto has begun.

In 2014, the American magazine Newsweek believed to have found the real Satoshi Nakamoto. The magazine interviewed a man named Dorian Satoshi Nakamoto, billed as the inventor of cryptocurrency. But the same day, the man in question denied these allegations. If he claims to be an engineer, he also insists on “having no connection with Bitcoin.

In 2015, Wired reporters thought they discovered who was behind Satoshi Nakamoto's pseudonym. The article explicitly points to Australian businessman Craig Steven Wright, demonstrating that there are several clues that he is considered a strong candidate for the role of the father of Bitcoin.

The academic sees Nick Szabo as a potential candidate, although this theory should also be viewed with hindsight. Between 1995 and 2005, this former activist developed a decentralized currency called Bit Gold. The creator of Bitcoin? The interested party defended himself by being the origin of the first crypto-currency.

Hal Finney is also among the least likely candidates. This developer was the first to receive a Bitcoin transaction from Satoshi Nakamoto. “He participated in the birth of Bitcoin, without claiming to be Satoshi Nakamoto, according to Jean-Paul Delahaye. We also found an exchange between the two individuals in 2008.

Satoshi Nakamoto: his identity about to be revealed

Many experts and analysts have tried to determine who is behind the first cryptocurrency, using various methods. Among the candidates for the title of creator of Bitcoin, we can mention Adam Back. He is the creator of a proof-of-work system called Hashcash.

This system was originally intended to reduce spam. It was then used as part of an algorithm for analyzing data for Bitcoin and other cryptocurrencies. It should be noted that the idea that he could be Satoshi has been around for a long time in the crypto community, but he himself has denied such claims.

However, other arguments confirm Adam's involvement in the creation of the first cryptocurrency. Discussions of this evidence have recently started on Twitter. According to reports, all compilers and linkers generate unique fingerprints based on computer configuration and settings. And at the same time, a recent study revealed that the trace found on Hashcash is identical to that found in Bitcoin, which suggests that they were both created on the same computer.

Admittedly, Adam Back has yet to admit that he is Satoshi Nakamoto, although many believe him. That said, even in the event that there is new evidence for this version, many dissenters have questioned the evidence provided by those who actually believe that Adam Back created Bitcoin. In any case, while this study is likely to back up his claims, no one has yet been able to conclusively prove them, suggesting that Satoshi's identity remains anonymous.

What is certain is that Satoshi is currently very rich. He owns over a million bitcoins. That equates to around $5 billion in net worth today! Indeed, Satoshi mined the Genesis block in January 2009. He officially stopped communicating in 2010. Since then, one can always check on the block register that his Bitcoins have not been used or spent. This proves that Satoshi still has the one million Bitcoins registered to his address in 2009 and 2010.