Who is Satoshi Nakamoto the genius behind the concept of bitcoin?
By noncomformist Charles L Harmon
Just who was this genius behind the concept of bitcoin? Who is Satoshi Nakamoto? You’d think the identity of Satoshi Nakamoto would be obvious.
The bitcoin idea has blossomed into a massive financial game changer.
Of course no one knew what the impact of bitcoin would be. But obviously people who invested in bitcoins hoped it would.
Back in November 2008 was when Satoshi Nakamoto published a white paper. It began “Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments.”
As Nakamoto saw it, the solution was an electronic cash system. It would be “based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.”
The 8-page White Paper Outlined the Bitcoin Concept
That 8-page white paper explained the electronic payment system based on cryptographic proof that could serve this purpose. The coins would be made from digital signatures that would be “spent” on a peer-to-peer network.
This is how bitcoin was created. Nakamoto disappeared off the grid in 2011. The search for him has been on since then. From the very beginning the identity of Satoshi Nakamoto was in question. It’s a pseudonym.
The mysterious founder of bitcoin announced in 2011 that he (she or they) were moving on to another project. This software programmer still remains unknown.
It is speculated that Nakamoto took one million bitcoins with him (it could be him, her, a group, etc.) when he disappeared. Apparently they were accumulated these over the years.
There was no value attached to the bitcoin when Nakamoto released the bitcoin software in 2009. Kristoffer Koch was writing a thesis on encryption that year.
As part of his research he spent a mere $27 on five thousand bitcoins. Bitcoin trading began 2010. The highest price that year was 39 cents for one bitcoin.
Who this Nakamoto Character was Always in Question
Even at the beginning, the big question was, who was this Nakamoto character. When he left his digital world and walked away, the hunt for him became serious. Part of it is curiosity.
Part of it is knowing that control of so many bitcoins, Nakamoto could substantially change the bitcoin’s value. One million coins could flood the market.
An Australian entrepreneur, Craig Steven Wright, came forward to say he was Satoshi Nakamoto. Dorian Satoshi Nakamoto, an American, claims he is not the founder of bitcoin.
Or maybe Vili Lehdonvirta, a Finnish economic sociologist who used to be a games developer. An investigative journalist, Adam Penenberg, speculated that Nakamoto may be the pseudonym of Neal King, Vladimir Oksman, and Charles Bry.
Penenberg and Davis did analyses of the writing style and word choices to narrow down their search. These are just a sampling of the suggested real-life identity of the bitcoin founder.
The mystery continues until now, over nine years later. Bitcoin today Feb 4, 2018 is at 8982.00 US Dollar. That’s a serious drop from over $20,000 less than a month ago.
Just who is Satoshi Nakamoto? Will the real originator of bitcoin ever step up and prove it?
Copyright © Charles L Harmon