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Satoshi Nakamoto: 9 Interesting Facts You Need To Know
Like the dramatic quest of Hollywood movie “Finding Nemo”, this quest of finding Satoshi Nakamoto – the inventor of Bitcoin – has also been dramatic.
It’s fascinating to see how Bitcoin has become a multi-billion dollar thing, yet the “Father of Bitcoin” is still missing.
Satoshi Nakamoto made the Bitcoin software in 2008 and made it open source in January 2009.
And in 2010, Satoshi Nakamoto disappeared.
No one even knows what pronoun to use (he, she, or they) while referring to Satoshi Nakamoto because it is still not clear whether he/she is a person or a group of people.
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Whomever Satoshi Nakamoto might be, there are some interesting facts about the entity that gave birth to this multi-billion dollar industry of cryptocurrencies.
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Here are 9 interesting facts…
The name ‘Satoshi Nakamoto’ is the pseudonym of the inventor of Bitcoin. In 2008, someone used this name and mailed the Bitcoin white paper to a cryptographic mailing list.
This mailing list contained renowned people who believed in decentralization and cryptography.
That’s why this name is so famous.
As is apparent from the name, it’s assumed that he was a Japanese man, but his flawless use of English in the white paper raises doubts about this conclusion.
Satoshi’s Mail
It is believed that Satoshi Nakamoto owns 1 million bitcoins (or more) which makes his present net worth at the time of writing this article to be $2.6 billion.
In 2009 January, Satoshi mined the Genesis block, and in 2010, he officially stopped communicating. Between this period, the bitcoins came into existence exist on the blockchain ledger, but they have not been used or spent. This proves how much Satoshi owns.
1 million BTC is a huge number which, if dumped suddenly, could wreak havoc on the crypto market. That’s why Bitcoin has also earned the title of being a “Ponzi scheme”- because the speculative founder owns a significant share.
The anonymity of Bitcoin’s founder has led to a mushrooming of a totally new merchandising concept. Now you can buy T-Shirts with Satoshi Nakamoto things printed on them.
Things like:
You can buy one for yourself from e-commerce sites like Zazzle and Teespring.
Some even suggest that Samsung, Toshiba, Nakamichi, and Motorola together created Bitcoin, as you can tell from their names:
“Satoshi Nakamoto”…
However, there is no official proof for such a conclusion.
Nick Szabo, a US computer scientist, and cryptographer is considered by some to be the founder of Bitcoin. Nick coined the concept of digital currency for the digital age by creating “Bit Gold”. Bit Gold was the ancestor of Bitcoin. However, it was not used by the masses because of limitations.
After analysis of Satoshi’s white paper, a blogger concluded that Nick Szabo was Satoshi Nakamoto. but Nick has never accepted this hypothesis.
Craig Wright, an Australian Entrepreneur, claimed to the BBC on 2nd May 2016 to be the inventor of Bitcoin. However, when examined by core Bitcoin developers like Peter Todd, Craig was unable to provide any acceptable supporting evidence for such a claim.
Though initially, he said he would come back with relevant evidence, he failed to do so, and said on his blog that he was “sorry” and “didn’t have the courage” to continue.
In March 2014, another speculation came on the identity of Satoshi. A news source claimed that they had found Satoshi, and he lived in California, USA.
His full name, as reported, was Dorian Prentice Satoshi Nakamoto. He was a physicist and a systems engineer who had recently been laid off by the government.
Later on, the person identified denied all such claims and said he is not the Nakamoto which everyone has been searching for.
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Hal was a cryptographer even before his involvement with Bitcoin. He was on the mailing list that received Satoshi Nakamoto’s Bitcoin white paper.
Hal claimed that he had been communicating with Satoshi to support his testing, which led to the speculative conclusion that he himself was Satoshi.
Hal’s writing style also closely resembles that of Satoshi’s in the Bitcoin white paper. The suspicion evaporated when he showed his email conversation with Satoshi, but that could just be a diversion tactic.
Fun fact: Hal was the first person to receive a Bitcoin transaction from Satoshi on January 12, 2009, after Satoshi mined the genesis block on 3rd January 2009 at 18:15:05 GMT.
An employee of Fast Company, a media brand, said that Neal King, Vladimir Oksman, and Charles Bry were the group of people that created Bitcoin. This employee proved it by searching unique phrases in Satoshi’s white paper.
They even patented the phrase which appears on the Bitcoin white paper “computationally impractical to reverse”.
However, all of them have publically denied such allegations.
Whatever anyone may say or think, the anonymity factor of Satoshi Nakamoto has proven to be healthy for Bitcoin.
But there’s still a big mystery here:
No one knows the truth.
I would like to end this article by quoting two very early adopters of Bitcoin, Erik Voorhees and Roger Ver (two people who are definitely worth following on Twitter).
Bitcoin is the most important invention in the history of the world since the internet.”
– Roger Ver, “Bitcoin Jesus”
This shows how important Bitcoin, blockchain technology, and of course, Satoshi Nakamoto all are!
And yes, Bitcoin has become more important than a single individual, but we would all love to solve this mystery once and for all.
If you know any more interesting facts that I have missed in this article, then do let me know in the comments below!!!
And if you liked this post, don’t forget to share it!
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