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22 June 2021

Who Is Satoshi Nakamoto, The Creator of BItcoin? - Decrypt

Who Is Satoshi Nakamoto, The Creator of BItcoin? - Decrypt


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Bitcoin arrived in 2008 but its creator to this day is known only by the pseudonym they chose: Satoshi Nakamoto.

The choice of the Times has prompted speculation that Satoshi may have been based in the U.K., and that their motivation for creating Bitcoin was linked to the instability caused by fractional-reserve banking.

Their posts have been pored over by the curious hoping to glean some hints as to Satoshi's identity and philosophy; in one of their last posts, Satoshi addresses Hal Finney directly, implying that they're separate individuals (though that could, of course, have been a ruse).

All activity from Satoshi Nakamoto stopped soon afterwards; the Bitcoin wallets tied to Satoshi have not been accessed or spent since mid-2009.

Although a 2012 P2P Foundation profile implies that Nakamoto was a 37-year-old man living in Japan, linguistic quirks such as British English spellings and expressions (and the use of the Times in the Bitcoin genesis block) suggest that Satoshi may have been of British origin.

And an analysis of early Bitcoin code has indicated that Satoshi may have used a Russian proxy server to mask their identity.

A number of names have been put forward as the possible identity of Satoshi Nakamoto.

Given that Bitcoin has been increasingly recognized as a threat to the supremacy of central banks, they may have been concerned at painting a target on their own back.

While governments might not be able to ban Bitcoin, they could certainly exert pressure on its creator to assert their sovereignty and dissuade others from following in their footsteps.

Given that criminals have (violently) targeted large crypto holders in the past, and that Satoshi is by any measure one of the richest individuals in the world, they have ample reason to keep their identity under wraps.

Researchers have suggested that Satoshi deliberately held back from mining even more Bitcoin in the early days of the network, curbing their hash rate in order to give other miners a fair chance at blocks.

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