1. Who created bitcoins?
An anonymous individual or group known as Satoshi Nakamoto created an open-source software system named bitcoin thirteen years ago. As of today, bitcoin is valued more than $1 trillion, and its proponents believe it may rewire the whole global financial system.
However, there remains a mystery at the core of bitcoin. Who, exactly, is Satoshi Nakamoto?
2. Satoshi Nakamoto’s brief public life
Satoshi Nakamoto released a nine-page document to a group of cryptographers on October 31, 2008, detailing a new kind of “electronic cash” dubbed bitcoin.
Nobody worried about Nakamoto’s identity at the moment. The majority of those in that group were suspicious of the bitcoin concept itself.
For more than a decade, cryptographers and developers such as Hal Finney, Nick Szabo, David Chaum, and Wei Dai have been attempting to create an electronic counterpart of currency. They had all failed for various reasons.
Nakamoto established the bitcoin network on January 9, 2009. Mr. Finney was one of the few who was fascinated by it, and the two collaborated remotely in the early weeks to get the network up and operating. The first bitcoin transaction was made between Nakamoto and Mr. Finney.
Nakamoto wrote on message boards and privately exchanged emails with engineers for roughly two years while bitcoin steadily developed. Nakamoto ceased openly publishing in December 2010, and he stopped communicating with developers in 2011. Gavin Andresen, a software developer, took over as project leader when Nakamoto stepped down.
3. Is there any information on Nakamoto as a person?
No, not at all. Nakamoto never said anything personal in his public mails, or even in private ones that were eventually disclosed. Nothing biographical, nothing about the weather, nothing about what’s going on in the neighborhood. Everything revolved on bitcoin and its code.
Nakamoto utilized two email accounts as well as one webpage. The identity of the individual who registered them has been obliterated.
There is no further publicly available information. In an age when it is difficult to remain anonymous, Nakamoto remains a phantom.
4. But isn’t Nakamoto wealthy?
There are around one million bitcoins that were “mined” in the first year of bitcoin’s existence but have never been transferred.
Those bitcoins are now valued at almost $55 billion. According to the Forbes real-time billionaires list, this would place Nakamoto in the top 30 richest persons in the world.
It is thought that Nakamoto—and alone Nakamoto—controls those one million bitcoins. To relocate them, the “private key”—a lengthy, unique string of letters and numbers that governs access—must be present.
The guy who is transporting them has a good claim to be Nakamoto.
5. So how come they haven’t been sold?
In the beginning, people in the cryptocurrency world thought that Nakamoto was still a secret person, so they kept those bitcoins safe out of fear. It didn’t seem out of the ordinary that the person who came up with bitcoin could be arrested. In the last few years, though, most governments, except for China, have accepted bitcoin in some way.
It has been a decade since Nakamoto went away. It’s possible that the person who made bitcoin died without giving anyone else the private keys, which are the things that make the money. He might have lost the keys to move bitcoin, so it is also possible that Nakamoto can’t do that.
6. But someone has to be Nakamoto, right?
Yes, and throughout the years, nearly everybody who conducted work that was even somewhat comparable to bitcoin—including Mr. Finney, who died in 2014, and Mr. Andresen—has been identified as Nakamoto. All have denied it, and there has been no proof to the contrary.
If you Google “Satoshi Nakamoto,” the results will show you image after image of an old Asian man. Dorian S. Nakamoto was born with the name “Satoshi Nakamoto.” He is over 70 years old, lives in Los Angeles with his mother, and, as he has often said, is not the developer of Bitcoin.
A group of students and academics at Aston University in Birmingham, England, conducted a linguistics analysis in 2014 and determined that Mr. Szabo was most likely Nakamoto. Others have also alleged that he is Nakamoto. Mr. Szabo has refuted the assertion.
7. Elon Musk Posts Unknown Satoshi Nakamoto Tweet
Elon Musk has tweeted a rather old Satoshi-related meme about his or her name creation being linked to the major Asian enterprises and companies, such as Samsung, Toshiba, Nakamichi, and Motorola.
Users can construct the name “Satoshi” by mixing components of such firms. It is unclear what Musk’s aim was in posting the image, but several people felt that he was hinting at Satoshi’s origins, implying that he is a Korean and American mix rather than Japanese.
But most people still think that the post is joking and doesn’t have any hidden meaning behind it.