Nov 18, 2018 18:30 UTC
Nov 19, 2018 at 12:52 UTC
It’s ten years now to the day since a paper titled “Bitcoin: A Peer-to-Peer Cash System” turned up over the internet. The genius who wrote the paper describing a virtual currency that is now worth over $100 billion, didn’t identify himself. Instead, he used the pseudonym Satoshi Nakamoto.
People today barely describes Nakamoto without using the word “mysterious,” and this is the mainstay of Bitcoin lore which nobody will ever know who created the famous cryptocurrency. Nevertheless, the evidence is overwhelming about who this person is.
The Satoshi Impact
Satoshi Nakamoto is the pioneer of digital currency. This name took the world by storm by creating a globally successful cryptocurrency – Bitcoin. In the year 2008, he distributed a paper that depicted the points of interest of the system. He introduced decentralized cash that brought about the formation of a new technology called ‘Blockchain.’
Since he was working in the initial phase of Bitcoin programming in 2009, the correspondence was done electronically. The absence of the information made it a challenge to discover the character of Nakamoto. In 2011, he disappeared into thin air.
It is accepted under his control that the market capitalization of Bitcoin surpassed $1 billion by 2013. His personality is a significant inquiry as he holds a large $4 billion worth of Bitcoins in his wallet according to today’s exchange rate. His wallet remains idle with the coins untouched. However, he indeed seems to have left the bitcoin world.
Since it has been impossible to know the real identity of the mysterious Satoshi Nakamoto till the day, the significance of his name in Japanese is very interesting. In Japanese, “Satoshi” means ‘clear thinking, wise.’ “Naka” means ‘medium, inside, or relationship.’ “Moto” means ‘origin.’ Nobody on the record knows for sure if he is of Japanese origin. However, the world is included in believing that his origin is from Japan.
Public Activity of Satoshi Nakamoto
An article about new EZ Flash IV digital currency was published in 2008. And, a year after this article, there was the first software that was published, which has been launched in the network immediately. Satoshi Nakamoto continued his discussion on the websites with specialists who are interested in the further development of this unique system. But such contact between him and the team was about to be weaker, and in spring 2011 Satoshi declared his exit for reportedly being engaged in more important tasks.
Since then, nobody heard a word about Nakamoto. This person vanished as unexpectedly as he appeared. The overall control over the bitcoin.org domain has been handed to Nakamoto’s colleagues including Gevin Anderson, who is one of the leading developers of the bitcoin.
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So, Who Is Satoshi Nakamoto?
It is widely considered that there is no person with this name. Satoshi Nakamoto is a pseudonym that has been chosen for either a particular person or a group of persons.
This name has become a kind of mystery today. It is believed that the developer of the most popular cryptocurrency has picked this Japan male name, which can be translated as ‘a wise origin.’ Society believed his claim about Japan origin because neither the software nor any bitcoin customer exists in Japan.
Over the last decade, a number of individuals have speculated to be the real Nakamoto. The list of people includes Nick Szabo (owner of Ross Ulbricht), Motidzuki Siniti, Dorian Nakamoto, Hal Finney, Shinichi Mochizuki, Michael Clear, Craig Wright, Martti Malmi (a developer in Finland, Jed McCaleb (co-founder of decentralized payment systems Ripple and later Stellar) and many others. But no actual findings have been released so far which strengthen the claims.
Satoshi Nakamoto: The Possible Identity
His identity and nationality are yet unknown. He is entirely unknown outside of bitcoin since anyone can tell clearly, and his PGP key was created just months before the date of genesis block. He appears to be very familiar with the cryptography mailing list. But, there are no non-bitcoin posts from his till now. However, he has used an email address from an anonymous mail ‘vistomail’ and one from gmx.com, and sends mail when connected through Tor. Some even speculate that his entire identity was created in advance for protecting himself and the network.
Eventually, the design of Bitcoin, its use of cryptographic proof as well as its completely open implementation is one that makes it a creator who is irrelevant and only of interest for the historical reasons.
Will We Ever Know Who Satoshi Nakamoto Is?
The cryptography virtuoso and creator of Bitcoin, Satoshi Nakamoto has been completely sequestered from the world. The blessing as Bitcoin he has given to the world will always be a turning point in the money related market. Today, millions of users use bitcoins. Thanks to this man! It makes no difference even if we would ever discover his real identity or not, his impact on the world will live on for the time to come, as we know how blockchain technology is making its mark in every sector with its different types including Proof of Work or Proof of Stake.