Satoshi Nakamoto is well known as the inventor of the largest digital currency globally, Bitcoin. The name appears on the original white paper that proposed the idea of Bitcoin. The name is strongly associated with the Bitcoin development, its codes, use cases and forums, first released in the original papers and software released in 2008- 2009. Unlike the times, when it was first launched, Bitcoin now holds a prominent position in the market. Besides, the high market cap, it has also become a trusted medium of transaction which is now embraced by many nations.
The obscurity behind
Although the name is associated with Bitcoin and is present in the code involved in its development, no one knows who Satoshi Nakamoto was. While there are many theories revealed to the identity of Satoshi Nakamoto, but we still don’t have a clarity on this. It may seem alluring to portray Satoshi Nakamoto as a solitary genius who created Bitcoin, but such inventions do not occur in thin air. Any major discoveries and creations are always based on previously existing research.
The Bitcoin white paper
The Bitcoin white paper refers to the various other works and research fields from the past. Thus, it would be incorrect to say that Satoshi Nakamoto was wholly and solely responsible for creating Bitcoin. It is speculated that many individuals and years of research were behind the creation of Bitcoin.
Bitcoin inventors and researchers preferred to keep their identity a secret because they wanted privacy and were aware that Bitcoins would fast gain popularity and carried the potential to cause a significant disruption in the banking and fanatical systems operating in the world. Mass adoption of Bitcoin would make other nations’ sovereign currencies flat in value. Thus, anyone who wasted Bitcoin creation was probably afraid that governments would feel motivated to take legal actions against them.
Anonymity for safety
Bitcoin inventors and miners were looking for safety as they were among the few who possessed a majority of that stash of Bitcoin. Thus, they could be a potential target of criminals as Bitcoin is more like cash. Thus, one can safely conclude that Satoshi Nakamoto and perhaps a few other early miners of Bitcoin preferred to remain anonymous because of threat, privacy, and safety. Remaining anonymous and limiting exposure was the only good way to keep their Bitcoins safe.
Many sensational theories and publications have claimed that they have found Satoshi Nakamoto’s real identity, but there are confusion surrounding all these reveleations. For example, Newsweek asserted in 2014 that Dorian Nakamoto, a Japanese American, was the Bitcoin founder, and Forbes established a link to Hal Finney as the late cryptographic pioneer. Nick Szabo did create the notion of BitGold in 1998, but he states that he is not the Bitcoin creator. Many theories even claim Tesla CEO Elon Musk be the founder of Bitcoin because of his ambitious ideas and background in C++ programming language.
Even though it may never be known who Satoshi Nakamoto was really, he was indeed among the earliest name associated with Bitcoins click here for more info. The Bitcoin white paper, which Satoshi Nakamoto pseudonymously had put forward became the pioneering force for the start of decentralized transaction. He was the one who demonstrated how digital currencies could start a decentralized cryptocurrency movement that could challenge the central banks. Even though the Bitcoin white paper was extremely detailed, it doesn’t detail who Satoshi Nakamoto was.
So, while the world is aware that Satoshi Nakamoto created Bitcoin, no one knows who the person was. It is unclear if it was a female or a male and if the name stands for one person or a group of people working on Bitcoins. Despite extensive efforts in unmasking the true identity of Bitcoin’s creator, no one knows the truth.
Today, millions worth of Bitcoins remains stashed and unaccused and are known as “Satoshi Stash.” It is suggested if the ownership of that stash is dug into, it would possibly reveal the true ideality of Satoshi Nakamoto and bring an end to the controversy that surrounds the name.
Nevertheless, while the world may never know who Satoshi Nakamoto was, the name is the driving force behind the decentralized currency, and this has also paved the way for crypto trading. So you have platforms like Bitcoin Era for safe investment.