Even though Bitcoin has grown over the years to become a valuable store of value and medium of exchange, its founder’s identity remains a mystery. Satoshi Nakamoto is the name behind Bitcoin’s whitepaper, “Bitcoin: A peer-to-peer electronic cash system.” The paper described how Bitcoin works and security measures to avoid double-spending or duplicity in transactions.
Nakamoto was for a decentralised system with no controlling authority leading to the creation of the blockchains. The system would work on a proof-of-work basis with time stamps and unchangeable historical data. It would rely on mining to approve transactions and for network security.
Even though everything Nakamoto documented has worked to perfection, the wonder of who Satoshi Nakamoto remains a mystery.
History of Satoshi Nakamoto
The persona of Satoshi Nakamoto first came to light in 2009 when working on the first version of Bitcoin software. Other earlier activities included registering the Bitcoin.org domain in 2008 and followed by publishing Bitcoin’s whitepaper on metzdowd.com, a cryptography mailing list.
The last of Satoshi’s active involvement came in 2010, through email correspondence with another developer, claiming they “moved to other things.”
Until now, the identity of Nakamoto remains a mystery. It is unknown whether the developer is a male, female, or a group. Various journalists have tried to uncover the person behind the name to no success.
Some of the personalities associated with Satoshi Nakamoto before are;
Dorian Nakamoto is one of the individuals first fronted as the real Satoshi Nakamoto. This followed a publication by Newsweek’s reporter Leah McGrath Goodman on the paper. Dorian rejected the claims with subsequent investigations also ruling him out.
Hal Finney is the next person considered to be the cryptocurrency creator Satoshi Nakamoto. This followed his role as one of the key pillars of the Bitcoin earlier community. Coincidentally, Dorian Nakamoto was one of his neighbours. It appeared like he had picked the neighbour’s name for a pseudonym.
One of the most popular persons to be named as the actual Satoshi Nakamoto is Craig Wright. Various articles in publications showed the Australian academic and businessman as a possible Bitcoin inventor. It has however since been established that it was all a hoax. Still, Wright is not letting the issue settle. He has since filed a copyright lawsuit against the earlier publishers of the Bitcoin whitepaper, claiming it was his original work.
Satoshi Nakamoto Net Worth
Given their role as the founder of Bitcoin, it’s common that most people wonder what is Satoshi Nakamoto’s worth. As a pseudonym, it’s impossible to state the exact worth of the individual. However, it’s possible to look into what they are worth considering the Bitcoin they hold on their Bitcoin account.
Reports show that Satoshi Nakamoto mined and stored the first blocks of Bitcoin immediately after the launch. That Satoshi Nakamoto Bitcoin account holds over 1 million Bitcoin. With the current Bitcoin’s value at $34,000, the person is worth around $34billion. This makes him one of the richest people in the world. At the peak when Bitcoin reached $63000, Satoshi Nakamoto net worth was worth $63billion.
Even though Satoshi Nakamoto remains a mystery, the crypto world is already speculating on possible market movement in case of revelation. Coinbase believes it would impact the market. For now, however, their identity remains unknown and their net worth remains one of the highest in the world.