The Mystery Man of Bitcoin: Satoshi Nakamoto
In 2007, when the global economic downturn was hitting, a man with the pseudonym ‘Satoshi Nakamote’ published a white paper in PDF format in the Internet programming community. The title of the white paper was “Bitcoin: A Peer-to-Peer Electronic Cash System” (Bitcoin: A Peer-to-Peer Electronic Cash System). In that white paper, the nature or character of Bitcoin was nicely analyzed. He claims that Bitcoin is the most effective way to replace the traditional cash transactions that rely on the central bank. The two parties to the transaction do not have to think of any third party (central bank). In addition, since digital currencies will be created through sign language in this system, users will not need to worry about security. In order to bring transparency to transactions in this way, the founders of Bitcoin proposed that the servers containing the records of each transaction be made open to all. In early 2009, the first bitcoin block in history dubbed the ‘Genesis Block,’ was unveiled on the Internet.
There is controversy over whether the person named in the white paper, Satoshi Nakamoto, is an individual or a group of more than one person. However, everyone assumed that ‘Satoshi Nakamoto’ was a pseudonym, and this name could find no one. Satoshi Nakamoto has been active on various online blogs for the next two years since launching in 2009 and has been campaigning for Bitcoin. But in 2011, he announced to the Bitcoin community that he would step down and devote himself to another field. Bitcoin’s acceptance has not diminished since its departure but has grown over time. It is estimated that Satoshi Nakamoto still owns five percent of the world’s current bitcoin, valued at about 10 billion!
At various times, some people have spontaneously referred to themselves as the people behind the pseudonym ‘Satoshi Nakamoto’. However, their demands were not substantiated due to insufficient evidence. The media has often tried to identify Satoshi Nakamoto with some people to take advantage of the huge public interest, but all attempts have ultimately failed.
Famous media outlet Newsweek claimed Dorian Nakamoto, a Japanese-American, as the founder of Bitcoin. He later flatly denied the allegations. A programmer named Hal Finlay and one of the earliest users of Bitcoin was claimed to be Satoshi Nakamoto. Like Dorian, he thwarted this demand. Computer scientist Nick Jabo was once claimed to be Satashi Nakamoto, but he, like everyone else, rejected the claim at the end of the day. However, there was one exception. An Australian entrepreneur named Craig Wright has claimed to be Satoshi Nakamoto, but also appeared in the US Copyright Office with a famous white paper published in 2006 to claim the copyright in his own name. However, there is a lot of skepticism in the Bitcoin community about whether he is the real Satoshi Nakamoto.
The biggest question is, why have the people behind the name Satoshi Nakamoto kept themselves hidden for years? A possible answer is at hand. In general, US intelligence agencies have taken legal action against individuals who have attempted to create a currency that could threaten the US dollar. This is considered to be the biggest reason. Its flame has already been found. The FBI has described the cryptocurrency as “against federal law.”
Four thousand days have passed since the establishment of Bitcoin. There have been numerous changes, with Bitcoin gaining worldwide popularity from a completely unfamiliar subject. It has even been the subject of much debate in the Internet world, even in US courts. One of the biggest mysteries of the Internet world in the 21st century will be discovering the person or persons behind the pseudonym Satoshi Nakamoto.