SANTOSHI NAKAMOTO THE INVENTOR OF BITCOIN

Santoshi Nakamoto

We all know Bitcoin is the largest cryptocurrency in the world. We understand that some Santoshi Nakamoto invented it in 2008. But what we don’t know is, who is this Santoshi Nakamoto? Is he even an actual human? What is his identity? 

BIRTH OF BITCOIN

This Santoshi Nakamoto remained a mystery for an extended period. It all started in 2008 when an anonymous registered a domain name bitcoin.org and a paper ‘Bitcoin: A Peer-to-Peer Electronic Cash System‘ appeared on a cryptography mailing list. The paper had this mysterious name as an author. 

Following that paper, Bitcoin paved its way to different forums, and its worth kept having fluctuations. In 2011, Santoshi Nakamoto withdrew his affiliations with Bitcoin. He disappeared from the web by sending a penultimate email to Bitcoin’s core developer Mike Hearn.

FIND NAKAMOTO

People consider 70-year-old Dorian S. Nakamoto living in Los Angeles as the actual creator of Bitcoin. He came to the scene in 2014 through a news report that connected his work in engineering and linking it with Bitcoin programming. The Japanese-American released a statement in which he made it clear that he in no way was associated with the currency.

OTHER CANDIDATES

Nick Szabo is a cryptocurrency expert, and in fact, created his cryptocurrency in the 90s. When experts compared Nakamoto’s paper with the writings of potential creators, the results showed vast similarities with that of Szabo’s. A story in New York Times gave arguments on why he was the actual bitcoin creator. However, Szabo came on a public forum and denied all the allegations.

There are other pegged Bitcoin inventors on the list as well. Tesla and SpaceX founder Elon Musk is one of them. The arguments started his technological persona, and were one of the first to adopt bitcoin. But, just like others, Elon Musk denied the claims.

CRAIG WRIGHT VS DAVID KLEIMAN

In 2016, Australian entrepreneur Craig Wright claimed to be Bitcoin’s creator. He gave Bitcoin’s disputed coin as proof. He was accepted as the creator at some forums but criticized at others. Wright eventually faced FBI trials but stood firm to his claims. Five years later, Craig Wright stands to his claim.

In November 2021, a family of David Kleiman, one of Wright’s friends who died in 2013, claimed that David Kleiman claimed that David was also involved with Craig Wright in creating Bitcoin and deserved his share. The family sued Craig Wright for half of his cache of 1.1 million Bitcoins, worth $70B today. A jury reviewed the case, and trials took place.

On 6th December, the verdict came in favour of Craig Wright, and the court identified David Kleiman’s claims as false.  It means that Craig Wright is the owner of 1.1 million Bitcoin cache. Moreover, Wright says he is the actual Santoshi Nakamoto, which he used as a pseudonym. However, whether he was the sole Nakamoto, or had a group is still to come out.

WHY USE PSEUDONYMS?

Ever wondered why on earth did the bitcoin inventor kept his identity anonymous? The reason is the consequences.  In the past, many people tried to invent new currencies or new mediums of exchange. Due to this, they were accused and faced trials of faulting the economic policies.

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