|Before you reading,
Don't miss coins like PEPE again! Click here to find new PEPEs!
Who is Satoshi Nakamoto – Everyone loves a good mystery. In the 21st century, he created one of the biggest mysteries of his own and introduced it to the market. This mysterious question, “Who is Satoshi Nakamoto?” is still unclear and uncertain to everyone. The identity of this person or persons, about whom there are many comments and speculations, remains unknown. In simple terms, Satoshi Nakamoto is an anonymous figure who is the creator of Bitcoin
Could Satoshi Nakamoto be Japanese?
Satoshi Nakamoto is a pseudonymous entity who developed Bitcoin, created its technical documentation, and distributed it. As part of the implementation, Nakamoto designed the blockchain database and played an active role in the development of Bitcoin until December 2016. (14)
There are various speculations about the real identity of Satoshi Nakamoto. The question of where Satoshi Nakamoto is from is also frequently asked. Despite Nakamoto’s Japanese name and his claim of living in Japan in 2012, most of the research conducted on his real identity focused on software and cryptography experts living in the United States or Europe. (14)
|- New 1000x Potential Gems -
Click Here to Buy Safely!
Despite the unknown identity of Nakamoto, most of the speculations revolve around various non-Japanese cryptography and computer science experts. Nakamoto never revealed personal information while discussing technical matters. However, on his P2P Foundation profile in 2012, Nakamoto claimed to be a 37-year-old man living in Japan. (14)
Some believed that Nakamoto could be a team of people rather than an individual. A security researcher who analyzed the Bitcoin code, Dan Kainsky, said that Nakamoto could be a team or even an AI. Another researcher named Lszlo Hanyecz emailed Nakamoto and emphasized that the code was designed too well for a single person. (14)
Another speculation on this matter is that at least one person in the consortium claimed to be related to Nakamoto’s identity is from the British Commonwealth. The reference to the London Times newspaper in the first bitcoin blog post by Nakamoto led some to speculate that Nakamoto had a special interest in the British government. (14)
Why Can’t Satoshi Be Found?
Nakamoto seems to have realized that newly introduced concepts, inventions, and content can be open to interpretation once they separate from their creators. Jill Carlson, a blockchain investor and technology expert, says that Bitcoin represents different things for different people precisely because of this reason. Bitcoin investors are constantly trying to find answers to the question, “What would Satoshi do?” This lack of a leader who can answer this question and guide the community in a specific direction helps preserve the purpose and value of Bitcoin’s existence. In fact, this situation, which is presented as a problem, can also be a characteristic that ensures the lasting power of Bitcoin. (13)
Nakamoto understood that his belief in technology should be based on objective evaluations rather than the declarations of a charismatic leader or organization. By remaining anonymous, Nakamoto gave individuals the freedom to make their own decisions about the technology and determine its value independently of its creator. (13)
Why is the Founder of Bitcoin Anonymous?
Nakamoto, if Bitcoin were to succeed as a decentralized currency, had the foresight to understand that it should grow organically without any leaders or figures. Any announcement or comment made by Nakamoto could be misunderstood and interpreted as investment advice leading to price movements. (12)
Another possibility in this regard is that any proposed change supported by Nakamoto but opposed by some Bitcoin users could lead to disagreements or a Bitcoin civil war. (12)
Another reason that can explain Nakamoto’s anonymity is that the creators of alternative currencies would likely attract the attention of authorities and criminals. For example, Bernard Von NotHaus, who lived in Hawaii, created a private currency called Liberty Dollar in 1998. After the currency developed for a while, it caught the attention of the FBI and Secret Service and became the subject of criminal prosecution. In 2009, NotHaus was found guilty of “making, possessing, and selling his own currency system to compete with the official coinage of the United States.” The existence of similar examples could have led Nakamoto to choose anonymity. (12)
Satoshi Nakamoto’s Relationship with BitcoinTalk.org
A known fact is that Nakamoto is the founder of Bitcoin. This information was declared by Satoshi Nakamoto in the document titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” which was published online in October 2008. (1,2)
The term “peer” in “Bitcoin: A Peer-to-Peer Electronic Cash System” refers to equality. The term “peer-to-peer” is a network protocol created to share data between two or more processors. It can also be defined as P2P. An important feature of the Bitcoin cryptocurrency network is that it is not dependent on a central server. In simpler terms, “peer-to-peer” means the direct transfer or sharing of any data between two or more users. (2)
Satoshi Nakamoto provided this information as the author of the document “Bitcoin: A Peer-to-Peer Electronic Cash System.” The document presented the theory and structure of the Bitcoin payment system, introducing and promoting it. (1,2)
In February 2009, Nakamoto also created the first online message board defined through a 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 papers.” (2)
“Bitcointalk.org” is a cryptocurrency forum that serves as one of the primary sources of information on blockchain, cryptocurrencies, and Bitcoin. It was founded by the original Bitcoin creator, Satoshi Nakamoto, in 2009. Through this
platform, Nakamoto announced many new cryptocurrencies, crypto organizations, significant developments, and events. (2)
After this initial post, thousands, even millions of people started joining this network to examine the system. Today, Bitcoin surpasses all other major cryptocurrencies such as Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), and more, in terms of market value, making it the largest cryptocurrency in the world. However, despite Bitcoin’s widespread adoption and its astronomical value in the market, Satoshi Nakamoto’s identity remains uncertain. (1) (2)
Individuals Claimed to Be the Founder of Bitcoin
In October 2008, Satoshi Nakamoto announced that he created the cryptocurrency with a message titled “Bitcoin P2P e-cash paper” bearing his signature. In the following two years, during the development of the blockchain, he remained engaged with other users while maintaining communication within the community. His last official message was published in December 2010.
In the crypto market, Satoshi Nakamoto is considered the creator of Bitcoin, and the pseudonymous name is used by the creator(s). The following individuals are among those claimed to be Satoshi Nakamoto:
In one of the earliest investigations, Dorian Nakamoto was identified as the creator of Bitcoin. However, he vehemently denies this claim. (3)
Craig Steven Wright
The second speculation revolves around Craig Wright. However, critics argue that he exploited this claim for personal gain. Therefore, many sources state that Craig Steven Wright is not Satoshi Nakamoto. (3)
The third speculation suggests that Nick Szabo, the founder of Bit Gold in 2008, is the real Nakamoto. However, there is not enough evidence to support this claim. (3)
Harold Thomas Finley, an American software developer, was one of the early contributors to Bitcoin. He received the first Bitcoin transaction directly from Satoshi Nakamoto. Hal Finney is also among the names believed to be Nakamoto. (3)
Beyond his status as the founder, Nakamoto is important for the Bitcoin ecosystem. He is considered a philosophical figure and is frequently mentioned by cryptocurrency advocates when discussing the development and future of Bitcoin. (3)
Is Nakamoto Dead? Is There an Isolated Satoshi?
On January 3, 2022, the 13th anniversary of the initiation of the Bitcoin network by its creator Satoshi Nakamoto was celebrated. The founder of Bitcoin has always been the most enigmatic figure of the community. Approximately 10 years ago, Satoshi closed his session and most likely will never return. (11)
Did Nakamoto die?
Is there an isolated Satoshi?
Did he keep hodling?
Now the heart is torn.
– CO News Bitcoin Poet
Satoshi Nakamoto sent the Bitcoin technical report on October 31, 2008. The document was sent to the email address “email@example.com.” Additionally, Nakamoto added the domain name www.bitcoin.org to this address. (11)
The name Satoshi Nakamoto has Japanese origins and is widely regarded as a pseudonym or altered name. Nakamoto’s P2P Foundation profile states his date of birth as April 5, 1975. If this date is correct, Nakamoto would be 46 years old. Over the years, many detectives have tried to uncover the identity of the creator. It is believed that Nakamoto is most likely deceased. (11)
in December 2011, Nakamoto never returned. It is speculated that health issues prevented the creator’s return. In fact, many people believe that Hal Finney is the most likely Satoshi Nakamoto. Finney, who had amyotrophic lateral sclerosis (ALS), passed away in August 2014. Finney retired from PGP Corporation in 2011. Another clue that suggests Nakamoto is deceased, in addition to the lack of communication for ten years, is that the creator’s wealth remains untouched to this day. (11)
Despite all this, there is not enough data to prove that Satoshi is still alive or that he has passed away. The only certain fact is that Nakamoto’s mystique is well-crafted. (11)
Did Binance Founder CZ Point to Someone as the Founder of Bitcoin?
CZ, the founder of Binance, began his career as a service staff member at McDonald’s. Over time, he sold his apartment to invest in Bitcoin and became the leader of the world’s largest cryptocurrency exchange. (15)
After working as a technology leader at Blockchain, a cryptocurrency wallet provider, and OKCoin, a cryptocurrency market, CZ ventured into establishing his own exchange by combining the technical performance of high-frequency trading platforms with the promise of cryptocurrency. As a result, he launched his market through a $15 million initial coin offering (ICO). CZ later led efforts to transform Binance into an agile global workforce with a decentralized direction. In a short period, Binance became so convincing in the cryptocurrency world that it did not adhere to ongoing challenges. Just six months after its launch, Binance jumped to the top spot in the crypto exchange market and still holds that position today. (15)
Binance CEO Changpeng Zhao (CZ), through his statements on Twitter, declared the philosophy that everyone who supports the cryptocurrency market is essentially Satoshi Nakamoto. CZ’s approach has been embraced by individuals involved in cryptocurrency trading. (16)
Most Notable Tweets About Satoshi Nakamoto on Twitter
There have been thousands of tweets about Satoshi. The most famous of these tweets is one posted by Elon Musk. The detail of Satoshi Nakamoto in the image shared by Elon Musk garnered significant attention from people:
— Elon Musk (@elonmusk) March 9, 2022
The image combines the logos of four brands to form the name “Satoshi Nakamoto.” Elon Musk’s tweet received over 600,000 likes and more than 36,000 comments. Here are some tweets about Satoshi:
📌 Macaristan’da Bitcoin’in yaratıcısı Satoshi Nakamoto’nun heykeli dikilecek.
— CO NEWS (@coinotag) May 25, 2021
A statue of Satoshi Nakamoto has been erected in Hungary, and it does not feature a specific face. The facial area includes a mirror-like surface, intending to convey the message, “We are all Satoshi.”
— CO NEWS (@coinotag) September 27, 2022
According to information detected in SEC records, it was claimed that the SEC had a meeting with Satoshi Nakamoto. The records indicate that Tim Draper was also present at the meeting. However, there has been no statement from the SEC or SEC Chairman Gary Gensler regarding these allegations.
Bitcoin’in yaratıcısı Satoshi Nakamoto’nun serveti 24 milyar doları geçti. pic.twitter.com/cEfctPivsO
— CO NEWS (@coinotag) December 19, 2020
It was estimated that Satoshi Nakamoto, the creator of Bitcoin, had a wealth exceeding $24 billion in 2020.
Bu cevap, Associated Press’ten bir gazeteci aracılığıyla kamuoyuna duyuruldu ve bir gün sonra gizemli bir şekilde, çevrimiçi bir forumda Satoshi Nakamoto ismi tekrar ortaya çıktı ve Satoshi, “Ben Dorian Nakamoto değilim…” dedi. #Bitcoin #SatoshiNakamoto #Satoshi #HalFinney
— CO NEWS (@coinotag) January 17, 2022
At one point, it was believed that Satoshi was Dorian Nakamoto. After claims of him being Satoshi reached massive proportions, Satoshi Nakamoto stated on an online forum, “I am not Dorian Nakamoto.”
Why Did Satoshi Call It Bitcoin?
The term “Bitcoin” was officially defined in the White Paper technical review published in 2008. Bitcoin is a term formed by combining “bit” (the smallest unit of something) and “coin.” It is a digital currency. Bitcoin transactions are verified through cryptography on the network and recorded on a publicly accessible ledger called the blockchain. After being defined as open-source software in 2009, the cryptocurrency started being used.
Where Did Satoshi First Sell Bitcoin?
Bitcoin was initially worth almost “0.” The first transaction that gave Bitcoin monetary value occurred in 2009 when Finnish computer science student Martti Malmi sold 5.02 USD worth of Bitcoin at a rate of 0.0009 USD per bitcoin. The exchange took place through PayPal. (5)
The first real-world transaction using Bitcoin is as follows: In May 2010, Floridian Laszlo Hantecz asked on the bitcointalk.org forum if he could order 2 pizzas for 10,000 bitcoins, and after receiving a positive response, he ordered 2 pizzas worth 41 USD from Papa John’s. Hantecz mentioned in his statement that he placed this pizza order after mining Bitcoin and felt as happy as winning a jackpot because he got free pizzas according to the conditions of that day. As 10,000 Bitcoins would be worth 200 million dollars in today’s market, these pizzas are jokingly referred to as the most expensive pizzas ever bought in various places. (5)
Was Bitcoin Created to End the Dollar?
There are various opinions on whether Bitcoin or cryptocurrency was created to end the American Dollar, and whether it will succeed in doing so. According to a Forbes publication on March 11, 2022, Jim Rogers, the partner of Quantum Fund and Soros Fund Management, made a statement saying, “Recently, the US dollar is at its end.” However, it is believed that this warning would not be sufficient for the legalization of using Bitcoin as an alternative to the dollar.
Rogers mentions that China, Russia, India, Iran, and Brazil are interested in reducing their dependence on the dollar and starting to search for alternatives. In continuation of his words, Rogers says, “The US is the most indebted country in the world, so people are looking for alternative currencies. Although it is not clearly defined what this unit is, it is also considered that the US is smart enough to buy this currency.” Nevertheless, it is expected that the government will eventually make Bitcoin illegal due to its lack of central control.
Satoshi and Bitcoin’s Impact on Renewable Energy
The algorithm used in Bitcoin mining requires electricity consumption in amounts that contribute to climate change. According to Cambridge University’s estimate, Bitcoin has emitted approximately 2,000 million tons of carbon dioxide since its launch.
Reducing the environmental impact of Bitcoin is challenging. One potential solution is to conduct Bitcoin mining only in locations where there is excess clean electricity available.
How Did Satoshi Bitcoin Contribute to Global Warming?
One of the environmental effects of Bitcoin is its exacerbation of climate change. This is because Bitcoin is partially produced using electricity generated by gas-fired and coal-fired power plants. The combustion of coal and natural gas
releases greenhouse gases that heat the Earth and contribute to climate change. As of 2022, this type of Bitcoin mining is estimated to be responsible for 0.1% of the world’s greenhouse gas emissions.
Another environmental impact is the air pollution caused by coal-fired electricity generation.
The third environmental impact is e-waste resulting from the short lifespan of Bitcoin mining equipment.
Movies That Portrayed Satoshi’s Impact on the World
The world did not quickly grasp the revolutionary promise of Bitcoin. However, mainstream investors are now paying attention to this topic. Initially, the complexity of the technology was a part of the problem, while the other part was the association between crypto and illegal activities. But times are changing rapidly. More people are entering the crypto space, and more cryptocurrencies are being created. In parallel with the increasing interest in the power and potential of blockchain, movies about this subject are also emerging in the market. (8) Here are some of the best movies on the topic:
- The Mystery of Satoshi (2021)
In the midst of the 2009 financial crisis, a person using the pseudonym Satoshi Nakamoto creates the first cryptocurrency, Bitcoin. Thus, the first decentralized and trustworthy cryptocurrency emerges. Satoshi Nakamoto mysteriously disappears in 2011. “The Mystery of Satoshi” reveals the exciting history of Bitcoin and blockchain technology from the perspective of its enigmatic creator. (8)
- Cryptopia: Bitcoin Blockchains and the Future of the Internet (2020)
Directed by Torsten Hoffmann, “Cryptopia: Bitcoin Blockchains and the Future of the Internet” takes a balanced approach to the possible future of the internet and cryptocurrency. The documentary provides a clear explanation of digital asset concepts, debates, and developmental challenges. By presenting various perspectives and angles in this revolutionary industry, it offers a comprehensive understanding of the concepts, even for those unfamiliar with crypto. (8)
- Crypto (2019)
Crypto films can cover different angles. For example, “Crypto” is a Hollywood crime thriller that explores a complex network of corruption and fraud affecting the personal and professional life of a Wall Street banker returning to his hometown in Upstate New York. There has always been a relationship between crypto and illegal activities, and John Stallberg Jr.’s film delves into the dark side of cryptocurrencies. The film stars Beau Knapp, Alexis Bledek, and Kurt Russell. (8)
- Banking on Bitcoin (2016)
Produced by Christopher Cannucciari in 2016, “Banking on Bitcoin” is a documentary that delves into the fundamentals of Bitcoin and explores the mysterious identity of its creator. It also investigates various aspects of the Bitcoin industry and the potential obstacles to its widespread adoption. (8)
- Bitcoin: The End of Money as We Know It (2015)
This production is Torsten Hoffmann’s first Bitcoin documentary. “The End of Money as We Know It” is a critically acclaimed film that starts with the origins of trade rather than focusing solely on Bitcoin. It traces it back to ancient barter systems and then quickly brings it to the present, shifting the viewer’s perspective to the problematic role governments and financial institutions play in creating money and how their actions can fundamentally lead to inflation. The film questions whether Bitcoin can be an alternative to debt-based national currencies, exploring whether it will ignite a digital revolution in money usage or whether it is a gift for criminals or merely a bubble. (8)
Books About Satoshi Nakamoto
Many books have been written about Bitcoin and Satoshi from the past to the present. Here are some of these books:
1. The Official Bitcoin Coloring Book
This book is written under the pseudonym Satoshi Nakamoto. The description of the book states, “The long-awaited volume by the famous sage and creator of Bitcoin, Satoshi Nakamoto, is finally here! The book is filled with unique right-brain insights about this revolutionary digital currency.”
2. Digital Gold: The Untold Story of Bitcoin by Nathaniel Popper
In this book written by Nathaniel Popper, Bitcoin is referred to as Digital Gold. The book tells the story of Bitcoin.
3. Wave and Ripple Design Book
This book is also written under the pseudonym Satoshi Nakamoto. In addition to information about Ripple, the book also explores topics related to Satoshi’s Japanese origins.
4. The Book of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
One of the most famous books written about Satoshi, this book covers Satoshi Nakamoto’s emails and posts on computer forums, presents Bitcoin basics in layman’s terms, discusses Bitcoin’s potential and deep economic effects, and includes the seminal paper that started it all.
Highlighted Satoshi Articles on Forbes
Forbes, an American business magazine owned by Integrated Whale Media Investments, has published numerous articles about Satoshi Nakamoto. Here are some of the highlighted articles:
Who Is Satoshi Nakamoto?
An article discussing the identity of Satoshi. It covers details about Dorian Nakamoto, Craig Wright, and more. Click here to read the article.
10 Years Ago Today, Bitcoin Creator Satoshi Nakamoto Sent His Final Message
Forbes published an article titled “10 Years Ago Today, Bitcoin Creator Satoshi Nakamoto Sent His Final Message,” which explores Satoshi’s final message from 10 years ago. Click here to read the article.
Other Satoshi Articles on Forbes:
- Satoshi Wars
- Elon Musk Explains Bitcoin Creator Satoshi Nakamoto Theory
- Internet Pioneer Still Claims Bitcoin’s Creator Is This Unknown Mathematician
- Surprising Sale in Bitcoin; Is Satoshi Cashing Out?
- Nakamoto’s Neighbor: How the Search for Bitcoin’s Creator Paralyzed a Cryptographic Genius
Why America Loves Bitcoin So Much?
According to survey results, 46.5 million Americans who have never purchased cryptocurrencies before are considering investing in them in the next year due to stock market downturns and increasing inflation. These Americans will be added to the approximately 145 million American adults (about 56% of the adult population) who have already owned or invested in cryptocurrencies. (9)
Although Americans still largely perceive cryptocurrencies as unreliable, interest in becoming a crypto investor is increasing in society. 52% of American adults consider investing in cryptocurrencies in their retirement accounts, and 62% say they could buy more crypto if they could hold it in their bank accounts. 61% of the population also believes that a crypto-rewarding credit card is a good idea. (9)
How Many Bitcoins Does Satoshi Nakamoto Have?
The wealth, number of bitcoins, and their true value owned by Satoshi Nakamoto, the creator and most prominent figure of Bitcoin, are topics of frequent curiosity. Firstly, answering this question is not straightforward because it is not known whether Satoshi Nakamoto is an individual or a group. Apparently, Satoshi Nakamoto is a pseudonym used to refer to the person or persons who contributed to the development of the Bitcoin software. (10)
In today’s market, it is believed that Satoshi Nakamoto has the most bitcoins among all cryptocurrency holders. Experts answer the question of how many bitcoins Satoshi Nakamoto has with approximately “1.1 million bitcoins.” The estimation of Satoshi Nakamoto’s bitcoin wallet value of “1.1 million” is based on a model defined by analyzing the first two years of Bitcoin mining trends. This model was identified by Sergio Demian Lerner, the Chief Scientist of RSK Labs, and named the Patoshi model. (10)
According to Lerner’s estimation, an individual Bitcoin miner working alone could have processed 22,000 blocks in Bitcoin’s first year and could have collected 1.1 million or even untapped 1.8 million bitcoins. (10)
The net wallet value of Satoshi Nakamoto in 2022 is estimated to be approximately $42 billion. (10)
Most Notable Satoshi Price Predictions
Based on current Satoshi price predictions, it is forecasted that the value of Satoshi will increase by 1.63% and reach $0.000172 by December 2, 2022. According to technical indicators, it doesn’t seem like a favorable time to buy Satoshi at the moment.
Comparing Satoshi to other significant technological innovations and trends is one way to predict where Satoshi’s price might go in the long term. In the best-case scenario, if the SATS price follows Facebook’s growth, it could reach $0.002549 by 2025. (7)
If Satoshi follows the growth of the internet, the estimated value for 2025 is $0.000502. (7) According to data as of November 27, 2022, the general sentiment for Satoshi price prediction is bearish. (7)
Satoshi Nakamoto’s Relationship with the Deep Web
Entering the Tor network, which stands for “The Onion Router” software, means stepping into the border of the internet and accessing the Dark Web, a collection of hidden sites not indexed by search engines like Google and can’t be accessed with a regular browser. Tor is the technology underlying the Dark Web, which is a collection of secret sites and serves it. (17)
There are currently over 65,000 unique URLs ending with “.onion” on the Tor network. In a study conducted in 2018, about 10% of these sites were classified. The most common function of these sites was found to be forums, chat rooms, and marketplaces facilitating communication through files and images. (17)
Particularly, functional roles related to communication support many legitimate uses in free societies. Another study conducted in 2016 indicated that over half of the domains on the Dark Web were legal. (17)
The privacy and anonymity provided by the Dark Web can serve as an alternative to cautiously protect against how companies/governments track, use, and potentially profit from their data. On the other hand, privacy and anonymity, which protect against bullies and targeted advertisements, also turn the Dark Web into a springboard for criminal activities. Some of the more prevalent illegal activities on the Dark Web include arms trafficking, drug trading, pornography, violent imagery, and other forms of exploitation. (17)
The association of Dark Web services with cryptocurrencies has led to an expected surge in criminal activity. Ten years ago, a cryptography expert using the pseudonym Satoshi Nakamoto developed the first circulation network for a currency not controlled by national governments. This network was Bitcoin. Initially, Bitcoin was a very specific medium of exchange for the technology community, but it quickly became the preferred currency for drug dealers conducting transactions on a Dark Web site known as Silk Road. (17)
In the past five years, the encrypted network hiding from a large part of the world has become a small but significant marketplace composed of vendors involved in illegal trade, thanks in part to an operational currency almost untraceable by law enforcement agencies. (17)
More than 75 out of the approximately 200 domain names classified as illegal by Terbium Labs seem to function as a good marketplace for such illegal activities. Many of them are supported by various cryptocurrencies such as Bitcoin and Monero. (17)
The serious nature and rapid growth of illegal transactions on the Dark Web have concerned governments and global financial institutions. However, it appears that the total economic volume of activities on the Dark Web remains relatively small compared to global illegal trade today. According to the United Nations, the amount of money laundered globally each year is estimated to be as much as 2% to 5% of the United States GDP, ranging from $1.6 trillion to $4 trillion. Although the overall economic size of dark web activity is relatively small, it hosts a significant portion of the most damaging threats to society in Tor, attracting the attention of international regulators, financial institutions, and law enforcement agencies. (17)