Home
News
- Satoshi Nakamoto is a person who came up with the concept of Blockchain the technology behind Bitcoins
- The inventor had introduced the solution to the knotty problem faced by the cypherpunk community
- He never revealed his true identity and vanished in 2011 after law enforcements became a threat to him
- If the investor is still alive somewhere in the world, then he would be the wealthiest individual on the entire planet
Satoshi Nakamoto, the pseudonymous developer and the creator of the leading cryptocurrency Bitcoin. The inventor had published Bitcoin’s whitepaper in 2008 and created a tiny community of cryptography-obsessed computer scientists and hackers. At the time, Satoshi used to post message boards and email fellow developers regarding his concept to launch Bitcoin.
However, the creator never revealed his identity, nationality, or even his real name. Being anonymous, he released Bitcoin and saw it begin to catch on. Later in 2011, after the CIA started to investigate the Bitcoin project, Satoshi emailed one of the core developers of Bitcoin that he was moving onto other projects and went into the dark.
Satoshi’s view regarding the leading cryptocurrency
Satoshi began coding Bitcoin’s first version in C++ language in 2007. According to Hal Finney, after sharing his idea via the cryptography mailing list, he received a skeptical reception. The announcement of Satoshi Nakamoto, which outlined the concept of BTC, didn’t have the bombastic tone that could be expected from someone who knew he was going to change the world.
The eight-page whitepaper introduced a solution to a knotty problem plaguing the cypherpunk community for years. He cracked the issue of double-spending for the time using a peer-to-peer network. According to Satoshi Nakamoto, the P2P system would eliminate the requirement for any kind of central authority to validate transactions. Following the decentralized perspective and accomplishing a trustless system, he proposed a publicly available shared ledger that would document all the transactions and named the ledger as Blockchain. After the concept of Bitcoin attracted considerable attention, many deemed that the technology might be a tool to avoid government interference.
Satoshi Nakamoto is one of the greatest modern mystery
Many in the Bitcoin community wonder who Satoshi Nakamoto is and where he went. Moreover, many are also concerned about why the creator never revealed his name and why he chose the name “Satoshi Nakamoto.” Many believe that he was not an individual, instead of a group of developers who worked together to bring the project.
Many journalists, hackers, and regulatory agencies have all scrutinized the tacks that the creator left behind. All hoped to divine the real identity behind the creator’s name, but all failed. Notably, while communicating, Satoshi never shared any personal details. Only once, he described himself in a forum profile as a 37-year-old man who lives in Japan. However, that identity was believed by nobody in the cryptosphere.
In the metadata of the Genesis block, in the first-ever mined bitcoin, the cryptosphere observed that the timestamp consisted of a text “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks”. Researching for the text, it was found that the text came from a headline in that day’s Times of London newspaper. Following Satoshi’s communications, it is also observed that he made liberal use of Britishisms phrases like “Bloody hard.” Moreover, many researchers observed the timestamps from Satoshi’s various online activities and concluded that his time zones are likely UK (GMT), US Eastern (EST), or the US Pacific (PST).
Bitcoin’s creator title has been claimed by many
If Satoshi Nakamoto is indeed an only individual, he must belong to a veteran group of coders. In 2014, a magazine named Newsweek claimed that it was the inventor of Bitcoin in Southern California. According to the magazine, the creator was found in a sixty-four-year-old retired physicist whose actual name was Dorian Satoshi Nakamoto. However, later on, it was revealed that only the title Nakamoto was similar to the person. Since then, a vast number of individuals have claimed that they are the mind behind the concept of blockchain technology.
Why did the investor of BTC never uncover himself?
As Satoshi Nakamoto established a competitor to the United States dollar, the US law enforcement set up a track record to prosecute his audaciousness. Moreover, the FBI declared that the reaction was a violation of federal law, as no individuals were not allowed to create a private coin or currency to compete with its dollar.
However, the world has no trace of who actually is the creator of the flagship cryptocurrency. Following the creator’s tracks, assuming that he is still alive, many consider him the wealthiest individual. We know that he mined several BTC’s for himself, and after sending a few tokens to early developers, he never spent those. Indeed, following the current scenario, it seems like we would never be able to identify the actual creator, and few questions will remain without answers.
