Bilal Khalid: Real Satoshi Nakamoto or ICO Stunt?

In a lengthy revelation about the origins of Bitcoin, another claimant to Satoshi Nakamoto’s real identity spins a tale of numerology, cryptography and one broken laptop.

If you believe the tale of James Bilal Khalid Caan, a.k.a. Satoshi Nakamoto, the legendary hoard of the first mined Bitcoin (BTC) is buried forever, in a crashed hard-drive residing in a landfill or already recycled. At least this is the rationale for why the coins of Satoshi were never moved from the initial addresses to which they were mined.

So the genie is out of the bottle, once again: the real Satoshi Nakamoto is not Dr. Craig Wright, and neither is he a close acquaintance of John McAfee. He is not Hal Finney. He is Pakistani national Bilal Khan, residing in the UK and working for the NHS.

Note that Bilal Khalid uses the widely recognized 980,000 BTC estimation, not bothering to give a more exact number of how many BTC he mined as Satoshi Nakamoto in the early days.

The crypto community was immediately skeptical of the revelation, calling it “Satoshi Nakamoto fan fiction”.

Perhaps the biggest red flag is that the rationale behind the creation of Bitcoin was predominantly libertarian, with a dash of Chaldean numerology. This clashes with the behavior of the Satoshi Nakamoto persona, where the driving force was a passion for cryptography.

For more red flags, the long - and possibly tall - tale also contained regular mentions of the McLemore PR firm, as well as the BCCI bank. BCCI, as detailed in the first part of the revelation, was a Pakistani financial institution with rather lax standards in serving clients with dirty money, which led to its demise.

Now, the new Satoshi Nakamoto seems to be driving toward establishing BCCI as yet another brand in a “restart” for Bitcoin (BTC). The mention of a “Tabula Rasa” project made the crypto community predict that the third part of the series would be nothing more than the creation of a brand-new blockchain or another type of crypto-based project.

What is curious is that this time, the Satoshi Nakamoto claimant seems to be rather inept with technology. The narrative holds that Hal Finney, Mike Hearn, and Gavin Andersen were helping significantly with the Bitcoin project. It’s suspicious that Khalid would choose those names - with Finney deceased, Hearn notorious for abandoning his connection to Bitcoin, and Gavin Andersen remaining the only relatively active contributor from the early days.

Some time around 2011, Bilal Khalid allegedly lost his wallet.dat file when his laptop crashed and he sent it for repair, containing all the valuable BTC. His hard drive was replaced, and he claimed data recovery from the old drive was impossible - and anyway, the computer repair shop threw the hard drive away.

Sore from the massive loss, Bilal Khalid sees the trajectory that Bitcoin took as entirely wrong, despite prices practically “going to the moon”. The new narrative turns back to banking the unbanked, and to the BCCI bank.

The Wayback Machine reveals that domain contained a vague presentation for an innovative financial institution, with ideals such as “flexibility” and “relationships”.

Since Satoshi Nakamoto is a legend, it is impossible to debunk all the claims with absolute certainty. But one thing is sure - Bilal Khalid failed to even write down the private keys on a sheet of paper, leading to the inevitable loss of 980,000 BTC. Too careless for the person that urged self-ownership through control of private keys.

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