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Who is Satoshi Nakamoto the mystery man behind Bitcoin? Elon Musk speculates.

14 Jun 2022 By: Pankaj Gupta
Who is Satoshi Nakamoto the mystery man behind Bitcoin? Elon Musk speculates.

For more than 13 years no one really knows who is behind 

The anonymous bitcoin founder Satoshi Nakamoto that has been credited as developing the world’s first and largest, cryptocurrency – Bitcoin.

Nakamoto was the one who mined the first blockchain of bitcoin and was the one who published the whitepaper for the digital currency. Nakamoto had envisioned Bitcoin to be a token of transaction that would be widely adopted by the world to protect against inflation.

Bitcoin was created in 2009 by an anonymous person pseudo-named Satoshi Nakamoto, whose identity still remains a mystery.

While the whitepaper of Bitcoin was released by Satoshi Nakamoto, the pseudonym used for bitcoins creator or creators, on October 28, 2008, many say its mint date of January 3, 2009, represents the cryptocurrency’s birthday.

On December 30th, 2021 Elon Musk co-founded and leads Tesla, SpaceX, Neuralink, and The Boring Company tweeted that he believes that the person behind the Nakamoto the anonymous founder of bitcoin is none other than cryptographic expert Nick Szabo.

 Bitcoin was created in 2009 by an anonymous person pseudo-named Satoshi Nakamoto, whose identity still remains a mystery. In a recent interview, Tesla CEO Elon Musk named computer scientist Nick Szabo as the anonymous creator, who could have been the brains behind the birth of the world's first-ever cryptocurrency. Musk was also being quizzed on Lex Fridman's podcast when he made the statement. Musk also revealed that people often suspect him to be the originator of bitcoin, a claim that he has denied so far.

Nicholas"Nick" Szabo is a computer scientist, legal scholar, and cryptographer known for his research on digital contracts and digital currency. It is believed that Bitcoin is the product of the cypherpunk movement Szabo was friends with many people in that circle. In 2005, he wrote a blog post hypothesizing a digital currency called "Bitgold" that would not depend on the trust of third parties.

 While clarifying that he “obviously” was unaware of Nakamoto's real identity, Musk said that Szabo ticks all the boxes that indicate he could be the anonymous founder of Bitcoin.

 ·      In 1998, Szabo proposed the creation of a digital currency. At the time, the scientist had named this currency “BitGold.”Musk believes that Szabo “seems to be the one more responsible for the ideas behind Bitcoin than anyone else.”

 ·        Szabo's project was never fully completed, but many see it as a precursor to Bitcoin. Previously, the scientist has refuted claims that he is the creator of Bitcoin.

 ·        Nakamoto's hidden identity has been a topic of conspiracies for years now.

In September 2021, the first and only statue of Satoshi Nakamoto was unveiled in Budapest. While the facial features of this bronze statue are not well-defined, the figure sports a hoodie.

bitcoin tokens in Nakamoto's wallet, amounting to over $66 billion (roughly Rs.4,96,814 crore) remain unspent as of now.

History of Satoshi Nakamoto

The persona Satoshi Nakamoto was involved in the early days of Bitcoin, working on the first version of the software in 2009. Communication to and from Nakamotowas conducted electronically, and the lack of personal and background details meant that it was impossible to find out the actual identity behind the name.

Nakamoto’s involvement with Bitcoin, however, ended in 2010. The last correspondence anyone had with Nakamoto was in an email to another crypto developer saying that they had "moved on to other things." The inability to put a face to the name has led to significant speculation as to Nakamoto’s identity, especially as cryptocurrencies increased in number, popularity, and notoriety.

 While the identity of Nakamoto has not been ascribed to a provable person or persons, it is estimated that the value of bitcoins under Nakamoto's control—which is thought to be about 1 million in number—may exceed $50 billion in value. Given that the maximum possible number of bitcoins generated is 21 million, Nakamoto's stake of 5% of the total bitcoin holdings has considerable market power. Several people have been put forward as the "real" Satoshi Nakamoto, though none have been definitely proven to be Nakamoto.


One of the more colorful characters to be nominated as the person behind Satoshi Nakamoto is Craig Wright, an eternal student, and researcher. (Blockchain company) NChain chief scientist. Lawyer, banker, economist, pastor, coder, investor, mathematician, stats, and world-curious.

Some articles in popular news channels suggested that Wright might be the person behind Bitcoin, but subsequent investigations have concluded that he had perpetrated an elaborate hoax.

In Florida, Kleiman’s family brought a civil case against Wright, claiming it was owed half of the 1.1m bitcoin created at the start of the bitcoin enterprise. That bitcoin had to have been mined by someone who was there at the beginning, such as Nakamoto. And the family says Kleiman was with him at the beginning.

 That 1.1m bitcoin is now worth about $60 billion.

 Experts testified that Wright owned the bitcoin, and he successfully defended himself against Kleiman’s family.

If the jury had found that Wright owed half to Kleiman, Wright would have had to transfer his bitcoins to Kleiman’s family, which would have proven he was Nakamoto.

Dorian Nakamoto

Dorian Nakamoto is an academic and engineer in California who was named as the creator of Bitcoin by Leah McGrath Goodman in a Newsweek article in March of 2014.McGrath's article says, "The trail followed by some news sources led to a 64-year-old Japanese-American man whose name is Satoshi Nakamoto," but subsequent investigation ruled Nakamoto out of the running

 Hal Finney

Like Szabo, Finney was an early cypherpunk and one of the important pillars of that movement. Finney died in 2014. Finney was active in the Bitcoin community before and after its launch, and Finney is the first person to receive Bitcoin in a transaction. He also coincidentally lived a few blocks from Dorian Nakamoto who, it has been surmised, might have been the inspiration for a pseudonym invented by Finney.

 Up until 2010, Nakamoto was active online, discussing the development of bitcoin.

Since then, around the world, amateur sleuths and computer experts, and many others have been trying to work out who Nakamoto was or is. Because whoever created bitcoin is an extremely rich person, and the enigma is an appealing story.

On April 23, 2011, the mysterious Bitcoin inventor bid a farewell to the crypto space and apparently “moved on to different things.”

He sent Bitcoin Core developer Mike Hearn a brief email. "I've moved on to other things," he said, referring to the Bitcoin project. The future of Bitcoin, he wrote, was "in good hands." According to a popular news source.

Why does everyone care so much about bitcoin and its origin?

Bitcoin is the most widely used and well-known cryptocurrency. Once a fringe idea, more than 100 million people worldwide now use it. Many popular faces have already invested in bitcoin like Barry Silbert is the founder of Digital Currency Group, which owns Grayscale Bitcoin Trust, Coinbase, and Coindesk, MichealSaylor is the CEO of Microstrategy (one of the companies which is investing heavily in bitcoin), Cameron and Tyler Winklevoss (believed to be the first bitcoin billionaires), Elon Musk company Tesla itself (which purchased $1.5billion in bitcoin) and Michael Novogratz founded Galaxy Digital Holdings, a broker-dealer and cryptocurrency, and digital asset management firm.

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