The fascination with the genesis of Bitcoin is one of the reasons for the popularity of the digital store of value. Because Bitcoin is the only cryptocurrency that has no leader, neither now nor then. At the beginning of the project in 2009, an anonymous programmer under the pseudonym Satoshi Nakamoto was in charge. But on the one hand, the author of the Bitcoin whitepaper left the reins early on. On the other hand, it is still unclear who Satoshi actually is.
But from the beginning, the myths about Satoshi’s identity have been growing. There are two main reasons for this:
On the one hand, Bitcoin is an ingenious solution to a mathematical problem that has been occupying computer scientists around the world for decades: we are talking about the problem of double spending. How can it be guaranteed in a decentralized database that nodes that act independently of each other reach the same transaction state, that is, a consensus?
The answer that Satoshi was the first to give is called Proof of Work, which is the heart of the blockchain. Without a decentralized consensus mechanism, there is no decentralized money.
On the other hand, there are myths surrounding Satoshi’s almost legendary wealth. After all, according to data from on-chain analytics service Chainalysis, around a million Bitcoin are in Satoshi’s possession. As of this writing, that works out to around $ 40 billion.
Intact Bitcoin Treasury
Now many questions arise: How is it possible that no one has found this treasure yet? If Satoshi really has $ 40 billion in BTC, he may have the strongest willpower in human history not to touch it. Or is it more complicated after all.
Because there are many theories about the whereabouts of the anonymous creator of Bitcoin on the internet. One of them had recently featured billionaire Elon Musk on the podcast with Lex Friedman. Musk’s advice on Satoshi’s identity: Nick Szabo.
Well, you could see the evolution of ideas before the introduction of Bitcoin and see who wrote about those ideas. I don’t know exactly who created Bitcoin, but the evolution of ideas for this is pretty clear and it seems that Nick Szabo is responsible for those ideas more than anyone else.
Nick Szabo is an attractive candidate for Satoshi
The computer scientist is repeatedly associated with Satoshi Nakamoto. There are two main reasons for this: First, as a libertarian, Szabo has the ideological prerequisites necessary to dedicate himself to creating non-state money. On the other hand, the computer scientist is the creator of BitGold, an experimental crypto currency that was created before Bitcoin but was never released.
And then there was a writing style comparison between Nick Szabo’s writing and the whitepaper style; Of all the test subjects, there was the greatest agreement in Szabo. Szabo himself has already denied several times that he is Satoshi Nakamoto.
However, it is also considered likely that he was involved in Bitcoin in the Bitcoin community, presumably with a group that crypto expert Hal Finney could have belonged to. However, in the end, you won’t be able to say for sure. And that’s the best.
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