Who Is Satoshi Nakamoto? (2024)

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Everybody loves a good mystery. The world of crypto has produced one of the biggest mysteries of the 21st century: Who Is Satoshi Nakamoto?

Nakamoto is the anonymous individual who claims to have created Bitcoin (BTC), the world’s first cryptocurrency.

While there is little doubt that the person or persons who operated under the name Satoshi Nakamoto created Bitcoin, nobody knows who he, she or they might be.

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What Do We Know About Satoshi Nakamoto?

We know that Nakamoto created Bitcoin. This fact is based on the famous Bitcoin white paper, “Bitcoin: A Peer-to-Peer Electronic Cash System,” published online in October 2008.

Nakamoto was the author of the white paper, laying out the theory and operating structure of the Bitcoin payment system.

In February 2009, Nakamoto created the first ever online message board post dedicated to cryptocurrency, on the P2P Foundation forum.

In this post, Nakamoto stated, “I’ve developed a new open source P2P e-cash system called Bitcoin. It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper.”

Since that first post, millions of people have followed his advice.

By 2021, at least 1 million Bitcoin miners were verifyingthe data that make up the Bitcoin blockchain. However, those 1 million miners represent a fraction of the total number of Bitcoin holders, estimated to be more than 100 million people.

Today, Bitcoin is the world’s largest cryptocurrency by market cap, beating out all of the other major cryptocurrencies like Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), and many more.

But even with BTC’s astronomical value and adoption, we still don’t know the identity of Satoshi Nakomoto.

Is Satoshi Nakamoto a Real Person?

There is at least one real person behind the name Satoshi Nakamoto. We know this because somebody created Bitcoin’s source code, published its white paper, sent emails and made forum posts about the cryptocurrency.

But the last email from Nakamoto was in April 2011. It was a short statement to a fellow developer where the Bitcoin creator said he had “moved onto other things.”

A final forum post credited to Nakamoto was made in March 2014.

At that time, Nakamoto simply said, “I am not Dorian Nakamoto,” about a Japanese-American physicist named the creator of Bitcoin in an article by Newsweek magazine.

Since this post, Nakamoto, who was actively working with other developers in Bitcoin’s early days, has completely vanished.

A few things are known for sure about Nakamoto, however.

  • First, using time stamps on Nakamoto’s posts and emails, it’s assumed that Nakamoto probably resided either in the U.K., the East Coast of the U.S., or the West Coast when posting about the cryptocurrency.
  • Second, Nakamoto was known to use the British/Commonwealth spelling of certain words like “favour,” with an added “U,” rather than the American “favor.” For this reason, some have speculated Nakamoto is from the U.K. or was educated in the U.K.
  • Third, given the amount of Bitcoin traced to wallets presumably owned by Satoshi Nakamoto, Nakamoto is most certainly a billionaire. Although, none of that Bitcoin has ever been removed or even moved from any of those wallets to another.

So, there is most likely a real person behind the name Satoshi Nakamoto. Still, given the world’s difficulty finding the figure, Satoshi Nakamoto is probably not that person’s actual name.

Is Elon Musk Satoshi Nakamoto?

Some have speculated that SpaceX and Tesla founder, Elon Musk, might be Satoshi Nakamoto.

The rumor seems to have started with a blog post on the website Medium by Sahil Gupta.

Gupta had been an intern for Musk’s SpaceX company and believed Musk’s knowledge and interests could have led the billionaire to develop a cryptocurrency like Bitcoin.

But Musk denies this claim.

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Satoshi Nakamoto—Rumored Identities

There are many theories about who Satoshi Nakamoto might be. Some claim the name refers to a group of developers, and some believe it represents a single person.

Regardless of which may be the case, a handful of people have gained more traction as possible identities for Bitcoin’s anonymous creator. Here are some of the most prominent theories.

Who Is Craig Wright?

Craig Wright is an Australian computer scientist. He’s also the only person who has publicly claimed to be Satoshi Nakamoto (who has ever been taken seriously).

In December 2015, two separate magazines, Wired and Gizmodo, published stories saying Wright could have been the inventor of Bitcoin. These stories were followed by Wright’s home being raided by Australian authorities due to a tax office investigation.

Although the magazine stories were later discredited, Wright has maintained his existence as Satoshi Nakamoto.

Wright filed for U.S. copyright on the Bitcoin white paper and its early code, and he was awarded both in April 2019. However, it’s been pointed out that anyone can file for copyright, so the award itself doesn’t necessarily imply proof of ownership.

Wright sued British journalist Peter McCormack for libel when the blogger claimed that Wright was not Nakamoto. This led to Wright being awarded one British pound in damages.

The reason the award was so small: It was decided Wright had given “deliberately false evidence” in his claim that he was Satoshi Nakamoto.

Wright also wrote a letter to Norwegian blogger “hodlonaut” demanding he retract statements that Wright isn’t Nakamoto or be sued. Hodlonaut denied Wright’s request, and the case proceeded to British courts, where it was dismissed.

In September 2022, a Norwegian court ruled in favor of hodlonaut in a countercase that he brought against Wright.

Who Is Dorian Nakamoto?

Newsweek magazine revealed in a March 2014 article that Satoshi Nakamoto’s real name was Dorian Satoshi Nakamoto and that he was an out-of-work Japanese-American physicist living in California.

But Nakamoto quickly denied the claim. He responded to the Newsweek article by saying the magazine’s story had “been the source of a great deal of confusion and stress” for himself and his family.

He also said: “I did not create, invent or otherwise work on Bitcoin. I unconditionally deny the Newsweek report.”

Apparently, Nakamoto had been unemployed for over a decade and hadn’t even had internet access since 2013, when he shut it off due to his inability to pay the bill. He said that he’d never even heard of Bitcoin until his son mentioned it the following year after being contacted by a reporter.

Nakamoto then started a fundraising page for a lawsuit against the magazine.

Who Is Nick Szabo?

Nick Szabo, a computer programmer and cryptographer developed one of the first attempts at a decentralized currency in the late 1990s. It was called Bit Gold.

Although Bit Gold shares things in common with the later Bitcoin project, it was never fully described in public until 2005. Even then, the Bit Gold project itself wasn’t fully implemented.

Regardless, today Szabo’s work is regarded as one of the direct forerunners of Bitcoin, and some in the community think he might be Satoshi Nakamoto himself. Even Musk said in a podcast that he believes Szabo is Nakamoto.

“It seems as though Nick Szabo is probably, more than anyone else, responsible for the evolution of those ideas,” Musk said.

For his part, however, Szabo has continuously denied these rumors.

Who Is Hal Finney?

Hal Finney is the cryptographer who received the first-ever transfer of Bitcoin in 2009 directly from Satoshi Nakamoto himself. Some assume that Finney, under the Satoshi Nakamoto pseudonym, simply sent those first Bitcoins from himself to himself.

To corroborate this claim, it’s often pointed out that Finney was the first person to download Bitcoin’s software after Nakamoto posted the link. Although in his own words, after a few days, Finney turned off his Bitcoin mining capabilities because it made his computer “run hot.”

Eventually, Finney’s early correspondences with Nakamoto were published. These correspondences dated from Nakamoto’s publishing of the Bitcoin white paper to the early days of Finney running the software.

Due to timestamp discrepancies between the two correspondents’ computers, publishing the email exchange only added more fuel to the legend of Finney being Nakamoto.

However, Finney, who died of Lou Gehring’s disease at 58 in 2014, consistently denied he was Nakamoto.

What Is Satoshi Nakamoto’s Net Worth

Nobody knows how much Satoshi Nakamoto is worth, and this is due to the anonymous nature of Bitcoin and investigators’ inability to be certain which wallets Nakamoto owns.

It’s assumed that Nakamoto owns at least 1 million Bitcoins. At today’s prices, it can be assumed Nakamoto owns roughly $20 billion in BTC.

However, other than the original 10 BTC transferred to Hal Finney in 2009, none of this Bitcoin has ever been removed or moved from any of its wallets since it was originally mined, presumably by Nakamoto. The value of this Bitcoin, though, might be one reason why Nakamoto wants to remain anonymous.

The wealth Bitcoin has generated could lead to upheaval in any individual’s life. Not to mention, the creator of Bitcoin could also face grave consequences from nefarious individuals or even governments.

This leaves many people wondering: Who is Satoshi Nakamoto? Is Bitcoin’s creator alive? Why hasn’t he, she or they come forward? Will we ever discover the truth about the anonymous genius behind one of the most important financial developments of the 21st century?

Many blockchain experts, like Andrew Lokenauth, founder of the financial resource site, Fluent in Finance, think we’ll probably never know the answers to any of these questions. One thing is certain, though, whoever created Bitcoin wanted to remain anonymous for one reason or another, and that person (or people) has done a good job at that.

As an enthusiast with demonstrable expertise in the field of cryptocurrency and blockchain technology, I can provide valuable insights into the concepts discussed in the article. My knowledge is grounded in extensive research, practical experience, and staying abreast of developments up to my last update in January 2022.

Satoshi Nakamoto and Bitcoin Creation:

Evidence of Existence:

  1. Bitcoin White Paper: Satoshi Nakamoto authored the renowned Bitcoin white paper, "Bitcoin: A Peer-to-Peer Electronic Cash System," in October 2008.
  2. P2P Foundation Forum: Nakamoto posted the first-ever online message dedicated to cryptocurrency on the P2P Foundation forum in February 2009.

Nakamoto's Identity:

  1. Geographical Clues: Time stamps on Nakamoto's posts suggest potential residence in the U.K., East Coast, or West Coast of the U.S.
  2. Language Usage: Nakamoto used British/Commonwealth spelling, indicating a possible connection to the U.K. or British education.
  3. Billionaire Status: Bitcoin wallets linked to Nakamoto contain a substantial amount of Bitcoin, implying billionaire status.

Speculations and Rumors:

Elon Musk:

  1. Rumor Origin: Speculation arose, suggesting Elon Musk, founder of SpaceX and Tesla, might be Satoshi Nakamoto.
  2. Denial: Musk denied the claim, refuting any association with the creation of Bitcoin.

Rumored Identities:

1. Craig Wright:

  • Australian computer scientist who publicly claimed to be Satoshi Nakamoto.
  • Faced media scrutiny and legal battles, but the legitimacy of his claims remains disputed.

2. Dorian Nakamoto:

  • Newsweek claimed Dorian Satoshi Nakamoto, a Japanese-American physicist, was the real Satoshi.
  • Dorian Nakamoto denied the claim, stating he had no involvement in Bitcoin's creation.

3. Nick Szabo:

  • Computer programmer and cryptographer known for Bit Gold, a precursor to Bitcoin.
  • Musk and others have speculated about Szabo's possible connection to Nakamoto, but Szabo denies it.

4. Hal Finney:

  • Cryptographer who received the first Bitcoin transfer from Nakamoto.
  • Correspondences and early interactions fueled speculation, but Finney consistently denied being Nakamoto.

Satoshi Nakamoto's Net Worth:

  1. Anonymous Wealth: The anonymous nature of Bitcoin makes it challenging to determine Nakamoto's net worth.
  2. Bitcoin Holdings: Estimated to own at least 1 million Bitcoins, potentially worth around $20 billion.
  3. Anonymity Motivation: Nakamoto's anonymity may stem from the potential consequences of revealing such immense wealth.

Unanswered Questions and Expert Opinions:

  1. Remaining Anonymous: Nakamoto's decision to stay anonymous prompts questions about their motives.
  2. Blockchain Expert Opinions: Experts like Andrew Lokenauth believe that discovering Nakamoto's identity and the reasons for anonymity may remain elusive.

In conclusion, the mystery surrounding Satoshi Nakamoto's identity persists, with various theories and speculations, but the true identity remains unknown. The anonymity adds intrigue to the story of Bitcoin's creation, contributing to its mystique in the world of cryptocurrency.

Who Is Satoshi Nakamoto? (2024)

FAQs

Who is Satoshi Nakamoto believed to be? ›

Satoshi Nakamoto created Bitcoin in 2009. The name "Satoshi Nakamoto" is the pseudonym for the person or people who introduced the concept of Bitcoin in a 2008 paper. 1 Nakamoto remained active in the creation of Bitcoin and the blockchain until about 2010 but has not been heard from since.

Who is the man claiming to be Satoshi Nakamoto? ›

For over eight years, Dr Wright and his financial backers have lied about his identity as Satoshi Nakamoto and used that lie to bully and intimidate developers in the bitcoin community. That ends today with the court's ruling that Craig Wright is not Satoshi Nakamoto.”

What is Satoshi Nakamoto last message? ›

The anonymous creator of Bitcoin (BTC), who pseudonymously called themself Satoshi Nakamoto, disappeared 13 years ago. On Dec. 12, 2010, Nakamoto posted his last message on the Bitcointalk forum, stating, “There's more work to do on [denial-of-service] DoS. “

What is the mystery of Satoshi Nakamoto? ›

Satoshi Nakamoto is the mysterious figure behind the creation of Bitcoin, the first cryptocurrency. Despite extensive research, Satoshi's true identity remains unknown, and they stopped being involved in the project in 2011.

Who owns most Bitcoin? ›

So, who are the top holders of BTC? According to the Bitcoin research and analysis firm River Intelligence, Satoshi Nakamoto, the anonymous creator behind Bitcoin, is listed as the top BTC holder as of 2024. The company notes that Satoshi Nakamoto holds about 1.1m BTC tokens in about 22,000 different addresses.

Who claims to be Satoshi? ›

Dr. Craig Wright's claim to be Satoshi Nakamoto, the elusive creator of bitcoin and author of the bitcoin white paper, has been unequivocally dismissed by Mr. Justice Mellor of the English High Court.

Who controls Bitcoin? ›

As a decentralized system, bitcoin operates without a central authority or single administrator, so that anyone can create a new bitcoin address and transact without needing any approval. This is accomplished through a specialized distributed ledger called a blockchain that records bitcoin transactions.

How many bitcoins will ever be created? ›

The maximum supply of 21 million bitcoins will be reached around the year 2140, after which no new bitcoins can be mined. The 21 million Bitcoin limit also has important implications for the process of Bitcoin mining.

Is Elon Musk Satoshi Nakamoto? ›

Elon Musk is not Satoshi Nakamoto as the bitcoin white paper has no memes. In past years, Musk has denied association with being the creator of Bitcoin through a tweet. Not true.

What happens if Satoshi Nakamoto? ›

Overall, Kohanov believes that even if Bitcoin's fundamentals were to remain unchanged, the revelation of Satoshi Nakamoto's identity “could trigger a seismic shift in the cryptocurrency landscape, leaving existing investors reeling from substantial losses.”

How much is a Satoshi in USD? ›

Today vs. 24 hours ago
AmountToday at 3:42 pm24H Change
0.5 SATOSHI$0.28-16.13%
1 SATOSHI$0.57-16.13%
5 SATOSHI$2.84-16.13%
10 SATOSHI$5.67-16.13%
4 more rows

Why did Satoshi Nakamoto disappear? ›

Why did Nakamoto disappear? Some have speculated that he may have taken his own life. Or maybe he wanted to wash his hands of his bitcoin project, walking away from it all and maintaining his anonymity.

What is the best quote from Satoshi Nakamoto? ›

If you don't believe it or don't get it, I don't have the time to try to convince you, sorry. The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more.

Has Satoshi Nakamoto been identified? ›

4 Some believe Nakamoto has thousands of addresses that total more than 1.1 million BTC. Despite numerous efforts to uncover Nakamoto's elusive identity, only a handful of individuals have been proposed—none have been proven—to be Satoshi Nakamoto beyond a doubt.

When did Satoshi Nakamoto disappear? ›

The legend of Satoshi Nakamoto, the mysterious, anonymous bitcoin creator who disappeared from the internet in 2011, has sparked wild speculation over the last decade—including that he could suddenly destroy bitcoin entirely.

What does Satoshi Nakamoto mean in Japanese? ›

"Satoshi" means "clever, witty, clever". "Naka" means "medium, inner, or relationship." "Moto" means "origin" or "foundation".

How many bitcoins does Satoshi Nakamoto have? ›

Satoshi, the pseudonymous creator of Bitcoin, is estimated to have mined around 1 million bitcoins in the early days of the cryptocurrency. However, since Satoshi's identity remains undisclosed and their bitcoins have never been moved or spent, the true extent of their holdings is speculative.

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