Who Is Satoshi Nakamoto, the Mysterious Bitcoin Creator?

Who is Satoshi Nakamoto? It is a name that echoes through the digital corridors of cryptocurrency history. The enigmatic figure behind Bitcoin, the world’s first decentralised digital currency, has remained shrouded in mystery.

In this article, we delve into the depths of Nakamoto’s identity, exploring the suspects, theories, and the enduring legacy of the person (or group of people) who changed the financial landscape forever. Who is the Bitcoin founder?

The birth of Bitcoin

In 2008, an elusive individual or group of people authored the Bitcoin whitepaper, a seminal document that introduced the concept of a peer-to-peer electronic cash system. This whitepaper laid the foundation for Bitcoin, outlining its principles, cryptographic mechanisms, and decentralised nature.

But who was the mastermind behind this revolutionary idea?

The Pseudonym: Satoshi Nakamoto

Satoshi Nakamoto is the pseudonym used by the presumed creator(s) of Bitcoin. Here’s what we know:

Bitcoin’s genesis

In January 2009, Nakamoto released the first version (0.1) of the Bitcoin software, defining the genesis block with a reward of 50 Bitcoin.

Embedded within this block was a cryptic message referencing a headline from The Times: “Chancellor on brink of second bailout for banks.” This message served as both a timestamp and a commentary on the instability caused by fractional-reserve banking.

Blockchain pioneer

Nakamoto not only conceptualised Bitcoin but also implemented the first blockchain database. The blockchain — a distributed ledger that records all Bitcoin transactions —remains the backbone of countless cryptocurrencies today.

Cryptographic expertise

Nakamoto’s deep understanding of cryptography is evident in Bitcoin’s design. The use of cryptographic hashes, proof-of-work consensus, and public-key infrastructure reflects their expertise.

The suspects

Numerous names have surfaced as potential Satoshis.

Elon Musk: The enigmatic Satoshi Nakamoto?

In a twist that could rival the most intricate crypto plot, Elon Musk — the tech titan behind Tesla and SpaceX — has been linked to the mysterious birth of Bitcoin.

The Case for Musk as Satoshi

Coding prowess

Sahil Gupta, a former SpaceX intern, argues that Musk possesses the technical chops to be Satoshi.

Musk wrote the software for his early ventures, including Zip2 and X.com (which specialised in peer-to-peer payments). Interestingly, both X.com’s and Bitcoin’s source code were written in C++ and described as “monolithic.”

Was Musk the original Bitcoin developer? Was he busy inventing Bitcoin while also juggling all of his other businesses?

Linguistic parallels

Gupta dives into linguistic quirks. Satoshi’s forum posts featured phrases like “bloody hard” and “order of magnitude” — expressions Musk himself has used. Even the double spaces after periods align between the two.

Geographic proximity

In 2009, Satoshi accidentally leaked an IP address in Van Nuys, Los Angeles. Curiously, SpaceX’s headquarters are adjacent to Van Nuys, and Musk frequents Van Nuys Airport.

PayPal’s mission

Luke Nosek, another PayPal co-founder, revealed that PayPal’s original mission was to “create a global currency.” A mission eerily reminiscent of Bitcoin’s purpose.

The circumstantial evidence

While direct proof eludes us, the convergence of factors — geography, technical prowess, writing style, and shared philosophy — creates a compelling case. Musk has denied it in a Tweet years ago, however the rumour remains in circulation.

John McAfee

John McAfee wrote the first commercial anti-virus software, establishing McAfee Associates to sell his creation. However, he resigned in 1994 and sold his remaining stake in the company. Over time, he became a vocal critic of the company’s anti-virus software, urging users to uninstall it.

McAfee did also have an understanding of blockchain technology, which was evident in interviews, where he emphasised its open-source nature.

While McAfee did talk about Bitcoin a lot, and often claimed to know who Satoshi Nakamoto was, McAfee did have a troubled existence. After crossing swords with the US government over tax issues, he resided in Belize for a time, where he faced questioning in connection with a murder investigation.

Further interviews with McAfee also revealed another side of him — one influenced by LSD microdoses. Perhaps those doses weren’t as “micro” as he intended.

McAfee was found dead in a Spanish prison cell in 2021. So if he was Nakamoto, the world will never know for sure.

Nick Szabo

Nick Szabo is realistically the most likely candidate to be Satoshi Nakamoto. A brilliant computer scientist and cryptographer, Szabo’s work predates Bitcoin. His original project, launched before Bitcoin, called “Bit Gold” shares similarities with Bitcoin’s principles, leading some to speculate that he could be Nakamoto.

Szabo has repeatedly denied being Satoshi Nakamoto, the elusive creator of Bitcoin.

However, several intriguing factors have led some to consider him a strong candidate for this mysterious role.

Bit Gold project

Szabo’s creation of “bit gold”, an early digital currency, bears striking similarities to Bitcoin. This precursor laid the groundwork for key features later seen in Bitcoin. Additionally, both Szabo and Satoshi sought feedback from the same group of people during their respective cryptocurrency projects. Szabo even backdated a blog post to align with Satoshi’s timeline.

Writing mannerisms

Aston University researchers found uncanny parallels between Szabo’s writing style and Satoshi’s. Their phrasings and mannerisms exhibit remarkable similarity.

Similar arguments for Bitcoin

Szabo and Satoshi independently presented nearly identical arguments for why Bitcoin should hold value. While coincidences happen, these shared viewpoints raise eyebrows among analysts and the crypto community.

Despite these intriguing connections, there is no concrete evidence confirming Szabo as Satoshi Nakamoto. Szabo himself consistently denies the claim.

Craig Wright

Perhaps the most controversial candidate, Wright publicly declared himself as Satoshi Nakamoto in 2016. However, his claims have faced intense scrutiny. Recently a high court judge decided that Wright was not Nakamoto.

These days, pretty much the only person who believes that Craig Wright is actually Satoshi Nakamoto is probably Craig Wright.

Hal Finney

Hal Finney, a central figure in the cypherpunk movement, is often speculated to be Satoshi Nakamoto, a claim he denied.

But it is well known that Finney worked on Bitcoin at the start. However Finney died in 2014, taking the real identity of Nakamoto with him.

Hal Finney’s role in Bitcoin

In November 2008, Satoshi opened Bitcoin to public scrutiny. Until then, the project Satoshi had spent a year and a half coding was only shared privately with a select few.

Finney was among the recipients of a pre-release version of the Bitcoin code. He received it sometime around November 16, 2008, along with other members of the Cryptography Mailing List. Finney’s involvement suggests a close connection to Satoshi during those crucial early days.

Finney was a legend in his own right. He developed the first reusable proof-of-work system, which laid the groundwork for Bitcoin’s mining process. His deep understanding of cryptography made him a natural candidate for involvement in Bitcoin’s creation.

While the true identity of Satoshi Nakamoto remains unverified, Hal Finney’s legacy endures. Whether he was the real Satoshi or not, his contributions to the crypto world remain significant.

Anonymity remains

Nakamoto’s true identity remains elusive. While the name suggests Japanese origins, most speculation centres around software and cryptography experts from the United States or Europe. Whether Nakamoto is an individual or a collective effort, the mystery endures. Hopefully we will find out who was the absolutely brilliant mind behind Bitcoin before we die, but it does seem rather unlikely.

Conclusion: Who created Bitcoin?

Bitcoin has disrupted traditional finance, sparked a global movement, and ignited debates about the future of money. As we continue to unravel the mystery, one thing remains clear: Satoshi Nakamoto’s legacy is etched in the very fabric of our digital age.