Satoshi Nakamoto – The Bitcoin Legend =

Satoshi Nakamoto is known as the great inventor behind blockchain and Bitcoin. We know Satoshi Nakamoto is a genius, but then we’ve said everything we know right away. Who is Satoshi? Where does he come from? Will he ever speak up again? Is it a man, or a woman, or even a group of people? All questions to which we do not know the answer, but there are (strong) suspicions! In this article, we’ll show Satoshi Nakamoto’s first and last messages, name possible candidates, and find out how he/she/them managed to remain anonymous after so many years.

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  • Who is Satoshi Nakamoto?
  • Possible motifs
  • How Satoshi has always remained a secret
  • Possible candidates
  • Conclusion

Who is Satoshi Nakamoto?

Satoshi Nakamoto is the name used by the person(s) who developed blockchain and Bitcoin. For convenience, in this article we will talk about the inventor as if he were a man who worked alone. Many people assume that the mysterious person is of Japanese descent. What “Jan Janssen” is to the Dutch, Satoshi Nakamoto is to the Japanese. They are both the most common first and last name in the country. Yet there are many doubts about whether Satoshi actually comes from Japan. The English of the mysterious inventor was of such a level that it is much more likely that he comes from an English-speaking country.

Satoshi brought out his great invention on October 31, 2008 by publishing a paper via email that you can read at metzdowd.com. He called this paper ” Bitcoin: A Peer-to-Peer Electronic Cash System “. However, the real work had already begun before that. It can be deduced from several messages that he wrote the first code for Bitcoin in 2007.

If you consider that he has been able to solve the most difficult problems in the technical world in less than 2 years, then that is incredibly good. The most difficult and well-known is the “double spending” problem, but it also had solutions for “flood attacks” and other potential hacks that had been left unanswered for years in the world of digital money.

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Paranoid and bossy

Laszlo Hanyecz, also known as the man who ordered pizza for 10,000 Bitcoins, was one of the programmers who had close contact with Satoshi Nakamoto in the early days of Bitcoin. In that period, they exchanged 100s of emails, Laszlo told Business Insider. He says that Satoshi was a “bossy type” and that the experiences with the mysterious man were mainly “very strange”. For example, he received emails about bugs and errors in the code and was then asked if he could solve them. While Laszlo saw it as a nice hobby project, Nakamoto assumed that he could assist him full-time in the development. The article shows that Satoshi had several autistic traits, but that’s not surprising when you consider the other most genius people on the planet.

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Possible motifs

Bitcoin didn’t come about by accident, as the internet actually kind of happened. Satoshi Nakamoto deliberately started looking for a means of payment as an alternative to fiat money. He hasn’t said it in those exact words, but it’s clear that the mysterious inventor is definitely not a fan of the current financial system. One of the clearest indications of this is that the first Bitcoin mined, the so-called genesis block, bears the following text: ” The Times 03/Jan/2009 Chancellor on brink of second bailout for banks “. There are several things we can deduce from this text:

  • It is proof that the first Bitcoin was created on January 3, 2009 .
  • It is a sign that Satoshi Nakamoto may be from England (The Times is an English newspaper).
  • Satoshi Nakamoto is against the current financial system.

If you would like to know more about the possible reasons why Satoshi opposes the current economy and fiat money, you can read our article about fiat money. In short, it comes down to the fact that large institutions, such as the banks and government, can create unlimited money. This leads to inflation, which makes our money worth less. Moreover, major mistakes are made, such as the economic crisis of 2008. Instead of the banks paying for the costs themselves, it is the “ordinary” citizens who pay for this. Satoshi Nakamoto was not a fan of this and wanted to return the money to the people. For this reason, he created Bitcoin for us.

The relevant copy of The Times has also become world famous. There are only 2 complete original copies left and they are sold for a lot of money. You can find more information about this on thetimes03jan2009.

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Why do we still not know who Satoshi is?

How is it possible that, at a time when we feel we have virtually no privacy left, we still haven’t found out who the person or people behind Satoshi Nakamoto are? Thousands to hundreds of emails have been exchanged over the years and he has also posted hundreds of posts on various forums. Yet he has left no trace and we still do not know who it is.

What’s most fascinating about this is that Satoshi apparently knew beforehand how important it would be to remain anonymous. He knew well in advance that if he were to succeed in creating an alternative means of payment, it would be extremely important that he remain anonymous.

The bigger Bitcoin gets, the bigger the realization that we would never want to know who the inventor is. It won’t be the first time that a major project has been completely brought down by taking down its inventor and spreading all kinds of stories about him. Who knows, opponents of Bitcoin might have made up that it was a rapist, as may have happened with Julian Assange. In short, Satoshi quickly realized that this technology was going to kick the shins of the establishment and he didn’t want to take the risk that Assange, for example, would run. Not necessarily because he himself would be in danger, but rather because his children blockchain and Bitcoin would be in danger.

Because Satoshi knew from the start that he wanted to remain anonymous, he was able to take measures from day one to never be discovered. His first measure, of course, was to come up with a pseudonym in the form of his Japanese name. It is said that Satoshi Nakamoto, translated into Japanese, stands for:

  • Sato (one’s origin)
  • Shi (mentor)
  • Naka (inside)
  • Moto (core)

So you can see this as “The mentor is in the core, your original wisdom comes from within”. But this name was only the beginning of his measures. Other technologies he took advantage of that we still don’t know who it is are:

  • The inventor used a Japanese exit node pointing to an open proxy in Japan.
  • He always tried to email around Japanese times.
  • Satoshi created his own gmx mailbox, so that he didn’t have to trust major players such as Microsoft, Google or Yahoo.
  • He used Tor and openproxies to email.
  • He shared his mailbox with Hal Finney (more on that later).

And then suddenly he disappeared

So nobody really knew who they were communicating with when they emailed Satoshi Nakamoto. After the inventor brought Bitcoin into the world, he continued to actively work on it for a while with several other programmers, but then he suddenly disappeared from the scene.

Around December 2010 he withdrew from various forums and not much later the mail contact with others also became less until he stopped replying at all. The funny thing is that he never announced this himself. However, there are several indications why he withdrew. Such is one of his last public posts

It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us.” 

Loosely translated into Dutch, this means ” It would have been nice to get this attention in a different context. Wikileaks has kicked over the hornet’s nest, and the swarm is coming towards us”. Shortly before, Satoshi had a discussion with one of the developers in which he indicates that he absolutely does not want WikiLeaks to accept Bitcoin as a payment method, as shown in the image below:

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Here he clearly indicates that Bitcoin is still much too young a project to get all eyes on it. He feared that the project would die a quiet death if the big authorities got wind of it at this stage. Since then little has been heard from Satoshi and everyone assumes that his last public words to several core developers were:

I have moved to other things, the project is in good hands.” 

In other words, the mysterious inventor has started looking for a new project and knows that he left the Bitcoin project in good hands.

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Rich boy

Fortunately, Satoshi Nakamoto did not leave empty-handed. It is rumored that the inventor owns no less than 1 million Bitcoins. That means he was worth about $17.9 billion at Bitcoin’s peak. This made Satoshi the number 50 richest person in the world. It is true that these Bitcoins have never been touched in all those years. So the question is whether he still has the private key to this or whether the coins still exist at all. However, we think that the chance that these Bitcoins have been lost is very small. It all shows that Satoshi himself was well aware of the potential revolution Bitcoin could bring, so he must have made some very good backups of it.

On the other hand, the entire crypto community looks at these Bitcoins with suspicion. They are afraid that if even 1 Bitcoin transaction is done with it, everyone will panic and sell their own Bitcoins. In their eyes, that would mean that 1 million Bitcoins could suddenly enter the market, which will not benefit the price.

Possible candidates

While we still have no idea who Satoshi Nakamoto is, there are plenty of candidates who could be him, her or them. However, the most frequently mentioned candidates are all men, but there are also suspicions about a certain group of companies. One of the first candidates mentioned in this search was Nick Szabo.

Nick Szabo

Nick Szabo was already developing a digital currency years before we ever heard of blockchain and its inventor. His project was not called Bitcoin, but ” Bit Gold “. Researcher Skye Gray has looked at all the texts Szabo has ever written and compared them to the text in the Bitcoin whitepaper. In this he found that there were a few unique sentences that were wonderfully similar to each other. Unfortunately, the evidence that it is Szabo Nakamoto is not hard and the mentioned similarities can only be found sporadically. Szabo has always denied that he is the inventor of Bitcoin.

Dorian Nakamoto

His birth name is Satoshi Nakamoto, he is a Japanese-American man living in California. Surely it is almost inevitable that this man, Dorian Nakamoto, is the inventor of Bitcoin and blockchain? In addition, Dorian appears to have told a Newsweek reporter about Bitcoin that he is “no longer involved in the project and therefore unable to talk about it.” The world was turned upside down. Everyone thought the mysterious inventor had been found! However, Dorian denied everything. He had misunderstood the reporter because his English was not optimal. It is also striking that later on p2pfoundation.ning.com, with the post in which Satoshi Nakamoto announces his invention to the world, a message appeared from the inventor himself in which he says “I am not Dorian”. However, it is not 100% certain that it was really Satoshi Nakamoto who posted this message.

Hal Finney

The main candidate, who most people suspect is the Bitcoin legend, is Hal Finney. Hal Finney is not just a suspect, but it is the very first person to use Bitcoin’s software after Satoshi himself. Moreover, he is the one who contributed the most to the project and Nakamoto always spoke highly of the programmer. In addition, he was the recipient of the first Bitcoin transaction ever made. The special thing is that Finney really only lives a few blocks from Dorian Nakamoto. However, Hal Finney has always denied and has shown emails that he himself had serious discussions with Satoshi himself. Unfortunately, we will never be able to find out, because Hal Finney himself can no longer tell us. He sadly passed away in August 2014.

Group of Companies

Of course, it is by no means certain that it concerns one person. There are theories floating around the internet that an invention of this level cannot be made by a single person and that Bitcoin must have been created by a group of genius programmers. Coincidentally, there are 4 large companies that have a striking number of similarities with the Japanese name:

  • Samsung and Toshi ba make Satoshi together.
  • Naka michi and Motorola make Nakamoto together.

However, there is no evidence for this and it is mainly seen as a coincidental coincidence.

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Conclusion

There’s a lot of things we don’t know about Satoshi Nakamoto, but what we do know is that he’s a genius. In addition, he has a huge amount of money in his hands that will probably only increase in value. We ourselves believe that we should keep Satoshi Nakamoto anonymous and that it will only work against the crypto economy if his identity becomes known. He/she/them has/have withdrawn for a reason and we should respect that reason. Moreover, wouldn’t it be fantastic if we soon had an entirely new economy of which no one will ever know who founded it?

Sources

  • Bitcointalk
  • Wikipedia
  • Business insider
  • Coinsutra

 

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