Bitcoin was created by an unknown person named Satoshi Nakamoto. It is also thought to have been created by a group of people. It is not known who Satoshi actually is. He claimed to be a 37-year-old man living in Japan. However, some believe this is unlikely.Bitcoin (BTC) is the world’s first decentralised, peer-to-peer form of money. But who created this ingenious system? It may sound surprising to you. But no one knows who the creator of the Bitcoin cryptocurrency and payment network is. Moreover, the disappearance of this creator is quite in line with the design of Bitcoin. In our guide, we sought an answer to the question ‘Who is the founder of Bitcoin?’ We have done detailed research on Satoshi Nakamoto and curiosities. Join our guide now and find out who the founder of Bitcoin really is.
Who is the Founder of Bitcoin?
Bitcoin was created by an unknown person or group using the pseudonym Satoshi Nakamoto. About ten years ago, on 31 October 2008, he wrote the following on a little-known cryptography mailing list. ‘I am working on a new fully peer-to-peer electronic cash system with no trusted intermediary.’ He also included a link to the Bitcoin whitepaper. Later, Satoshi Nakamoto built the Bitcoin network with other developers for almost two years. Towards the end of 2010, he suddenly disappeared. His disappearance coincided with the Wikileaks controversy. At the time, Wikileaks was de-platformed by all traditional financial service providers.
Bitcoin was proposed as a possible means of payment, but Satoshi did not want Bitcoin to attract so much attention at the time. This is clear from his forum posts: ‘The project needs to grow gradually so that the software can be strengthened down the road. I urge WikiLeaks not to use Bitcoin. Bitcoin is a small beta community in its infancy. The money you will make will be no more than the change in your pocket, and the attention you will draw to us will probably destroy us at this stage.’ Ten days later, PC World published an article suggesting Bitcoin as a possible means of payment for Wikileaks.
This chain of events prompted Satoshi to leave his last message on the forum: ‘It would be nice to get this attention in another context. WikiLeaks has kicked the hive and the swarm of bees is coming our way. ‘Wikileaks ScandalNo public messages have been published by Satoshi, the founder of Bitcoin, since then.
So Who is Satoshi Nakamoto?
Satoshi claimed that he was a 37-year-old man living in Japan. However, the Bitcoin software was not documented and labelled in Japanese. Due to his excellent use of English, some people thought it was unlikely that he was Japanese, and Satoshi had an impressive knowledge of financial history. He was also an excellent C++ programmer. Satoshi left more than 80,000 words of open-source Bitcoin code for anyone to see and study. Despite this, his identity has still not been revealed. The mysterious Bitcoin inventor may perhaps forever remain unknown. But there are clues as to who he might be. Some people have come forward claiming to be Satoshi. Others have been suggested to be Satoshi but have denied it. These include early Bitcoin developers and experienced individuals with software and fintech backgrounds.
Features of Satoshi Nakamoto
Although anonymised, there are many clues and hidden messages that could point to the ‘real’ Satoshi Nakamoto. Many analyses have been done before. Satoshi’s posts on the bitcointalk.org forum were analysed. Accordingly, it suggests that Satoshi lives in the European Summer Time (EST) time zone used by Brazil and North American countries. He wrote using British English.
It’s no secret that Satoshi Nakamoto dislikes the current banking system. ‘The main problem with traditional currencies is the trust environment needed to keep things going. We have to trust that the central bank will not devalue the currency. But the history of fiat currencies is littered with breaches of this trust. We have to trust banks to hold and electronically transfer our money. But they lend it out in wave after wave, with almost no reserve. We have to trust them to protect our privacy and prevent identity thieves from emptying our accounts.’ These are the words of Satoshi, the founder of Bitcoin. It is stated in the Bitcoin technical documentation.