The Tale of Satoshi Nakamoto
As the 10-year anniversary of Bitcoin approaches, we look at the dubious tale of its purported creator – Satoshi Nakamoto.
It’s been almost 10 years since Bitcoin disrupted almost everything that has to do with finance. As the cryptocurrency has made its mark on the world, one thing still escapes many.
Who is Bitcoin’s purported creator famously known as Satoshi Nakamoto?
Intensive study has been conducted about this elusive figure. Researchers have tracked everything from blog writings and emails to information about habits, interests and education. Nothing concrete has come from these efforts as far as the real “Satoshi Nakamoto” standing up.
However, there have been some who’ve claimed they are this person. Pundits have still raised doubts, leaving the crypto space, and world, still unsure of the true identity of this Nakamoto.
Here, we’ll explore some of the ideas that have been bandied about concerning Satoshi Nakamoto. These include his origins, likes, dislikes. Most importantly, we’ll weave together the beginnings of this cryptocurrency, which can fairly be called one of the most transformative currencies to conduct peer-to-peer transactions that has been created in modern times.
Also, please note, that for the sake of consistency, we will refer to Nakamoto as male.
Jan. 9, 2009
For crypto enthusiasts, this date is imprinted on their brains. They likely know it like they do their own birthdays. For the not-so-into the space, this Jan. 9, 2009, is Bitcoin’s official creation date.
Since this date, there have been a host of developments related to this new-fangled digital currency. This includes the creation of a multitude of other currencies, and the realization that the underlying technology used to support most of them, Blockchain, can be used for other purposes.
We’ve seen Bitcoin grow beyond being a speculative, odd way of conducting transactions, mainly used by tech geeks. It’s now gone mainstream as a way of paying for things, as well as a viable investment vehicle.
Consider this. Back in 2009, it’s been said that someone bought 5,000 Bitcoins for $27. At the time of writing, Bitcoin’s price was about $4,000.
While pundits and naysayers have repeatedly said this currency would fail, its price continues to move higher. For investors and spenders, they don’t think so. As they make money off the currency, many still wonder, how did this ever come to be?
They’ve been told to thank Satoshi Nakamoto. Let’s read on to find more about him.
The name implies Japanese, but…
One of the more interesting things about Bitcoin’s creator begins with his name. While many have said that he is of Japanese origin, there are doubts. One of the main theories is that the person may have simply had an affinity for Japanese culture, and therefore chose a Japanese name to disguise his identity.
Also, there are a host of documents that point to the creator having Japanese origins or ties to it that go beyond this name. For example, one of the computers thought to have been used to mine the first bitcoins has a Japanese name. According to Wired, one of those computers is named Sukuriputo Okane, which is Japanese for “script money.”
Speculations that he is Japanese really ramped up when Newsweek and other news outlets outed then 64-year-old Japanese American named Dorian Prentice Satoshi Nakamoto as the “one.” The story ended up being deemed inaccurate, and thus went that speculation.
Refusing to be found?
Nakamoto’s pains to protect his identity are extensive. This includes encrypting his communications with the most sophisticated program.
While the crypto world speculates, there are people who are thought to know exactly who this person is. For example, it’s widely believed that some government agencies, such as the U.S. Department of Homeland Security, know the identity of Satoshi. No government agency has confirmed such knowledge.
Also, there have even been slew of fact-finding missions that have resulted in a pseudo profile. We scoured the Internet and other sources and here are some of the findings.
He’s very educated, likely holding multiple degrees, including several PhDs. He’s an expert C++ coder, whose skillset in security helped him to write protocol like that for Bitcoin. He may have a disdain for the government and balks at its interference, such as tax laws.
There is even a theory that he subscribed to magazines that promoted anti-authoritarian issues.
Then there’s the notion that “he” doesn’t even exist. Instead, there is a belief that the name reflects a team of people instead of just one person.
Or hiding in broad daylight?
With all that being said, those who’ve doggedly pursued his identity have settled on one person who’s quite known in the crypto world.
He is Craig Steven Wright. He fits the description, but has repeatedly said he’s not Satoshi Nakamoto.
Not only do Bitcoin enthusiasts believe Wright is the creator of Bitcoin, but so do authorities. Living in Sydney, Australia, Wright’s home was reportedly raided by authorities in 2015. One of the names on the warrant was…you guessed it…Satoshi Nakamoto.
Needless to say, Wright, Nakamoto, or no one else was arrested as a result of this. However, it shines the brightest light yet about the “real” person behind Nakamoto.