Most people who are not familiar with the crypto world, probably know Bitcoin but not who Satoshi Nakamoto is. And for the fortune of those no one else does. Not even the ones affiliated to that matter. This mystery name does not belong to someone you could put a face on. It is a pseudonym of the anonymous founder of Bitcoin, the most and first known cryptocurrency. Satoshi Nakamoto isn’t just the genius behind decentralized finance; they’ve fundamentally changed the way we think about and use money.
Why Satoshi Nakamoto?
Now, if someone were to ask, “Who created Bitcoin?” And was responded with, Satoshi Nakamoto, they would think it is an actual human being. The name sounds so authentic and carefully crafted to suggest intellect and mystery, that without need of looking, you would just digest the information with no other doubt.
However, the real question for those who know about this alias is Why Satoshi Nakamoto?. In fact, this name was found in the Bitcoin whitepaper, published in 2008, «Bitcoin: A Peer-to-Peer Electronic Cash System”. This paper outlined the disruptive idea of a decentralized digital currency, a system free from the control of governments or financial institutions.
Going further, we can find a deeper explanation. Satoshi, in Japanese, can mean «wise» or «clear-thinking,» while Nakamoto could mean «central origin» or «base of support.» Together, it might suggest “a wise person at the foundation”—perhaps reflecting the creator’s role in building the base for a financial system that operates without a central authority.
Four of Many Faces
Over the years, curiosity of who this history-making figure has created the proposal and claims of many individuals as possible candidates for the identity. Each has a distinct connection to the world of cryptocurrency, but none have been able to definitively prove to be worth the title of Bitcoin’s creator. Four of the most frequently mentioned are:
Dorian Nakamoto:
A Japanese-American man whose name matches the pseudonym used by Bitcoin’s creator. In 2014, Newsweek published an article suggesting that Dorian Nakamoto was the creator of Bitcoin. However, he vehemently denied the accusation, stating that he had no involvement with Bitcoin or its development.
Craig Wright:
An Australian computer scientist who has publicly claimed to be Satoshi Nakamoto on multiple occasions. Wright first announced his identity in 2016, presenting a series of documents and technical evidence to support his claim. However, after some legal procedures, he was obligated by law to publicly admit for six months that he was, in fact, not Nakamoto.
Nick Szabo:
A computer scientist and cryptographer who is widely regarded as one of the co-founders of Bitcoin due to his pioneering work on digital contracts and the concept of «smart contracts.» Many Bitcoin enthusiasts and experts have pointed to Szabo’s writing style and ideas as quite similar to Nakamoto’s, fueling speculation that he could be the creator. However, Szabo has consistently denied being Nakamoto.
Peter Todd:
A prominent Bitcoin developer and researcher whose work in cryptography and blockchain technology has contributed significantly to the evolution of cryptocurrency. His deep understanding of Bitcoin’s underlying technology and his involvement in the early days of cryptocurrency has been linked to the creation of Bitcoin. However, Todd himself has never publicly claimed to be Nakamoto, and his involvement in Bitcoin’s development might simply be due to his expertise in the field, rather than a hidden identity.
What could a revelation of the identity cause?
Cryptocurrencies, such like Bitcoin, affect the global economy in more ways than one could think. Powered by blockchain technology, this digital currency creates a decentralized access and financial inclusion to any user, challenging governments and banks, who have been the most powerful financial forces for as long. Apart from this revolutionary movement, crypto also offers a global currency, as well as, fast, cheaper and safer transactions
Despite these advantages and many more, there are downsides. Among the vast energy consumption and concentration of wealth, we find the market volatility. Crypto as physical money is valued by trust, nonetheless, the former mentioned is a “fictional” technological creation which makes its trust more fragile. This results in high market volatility that directly influences economies in large proportions.
Having presented the above, let’s imagine for a moment that we discovered who Satoshi Nakamoto really is. The consequences, both economic and social, could be significant.
What if Nakamoto were someone with a controversial reputation? This could shake people’s trust in Bitcoin, especially if the person’s politics or personal history were polarizing. In this case, the value of Bitcoin could fluctuate as people re-evaluate their trust in the currency.
On the other hand, if Nakamoto turned out to be a well-respected person, Bitcoin might see a rise in value and adoption. People are often more likely to trust something when they admire the person behind it. This could lead to greater institutional interest in Bitcoin, further boosting its credibility.
Even the simple possibility of this figure being a woman, which has been largely debated, could alter massively the value of this virtual currency.
Anonymity as Power
By choosing anonymity, Nakamoto created a system that isn’t about personal fame or the flaws of its creator. The focus remains on the use of technology for innovation and evolution, and not remotely close to being stuck in the simple influence on who is behind it. And this decision may have been crucial in preserving the strength and potential of Bitcoin in an ever-evolving financial landscape.
Ultimately, Satoshi Nakamoto’s decision to remain anonymous might not have been a coincidence. It could very well have been a deliberate move to preserve the power and influence of Bitcoin itself. By staying out of the public eye, Nakamoto ensured that Bitcoin would be viewed as a technological and philosophical revolution.
Perhaps the most poetic outcome, though, is the idea that Nakamoto is simply living a quiet, comfortable life, unaffected by the fame that could have come from such a monumental achievement. This anonymity has allowed Nakamoto to change the world without ever needing the world to change them.
Autor: Sara Choumkha Hajji
