On October 8, 2024, HBO released a documentary titled "Money Electric: The Bitcoin Mystery," where its filmmaker Cullen Hoback claims that the creator of Bitcoin (BTC), known by the pseudonym Satoshi Nakamoto, is really a Canadian programmer Peter Todd. However, members of the crypto community have criticized this theory, arguing that the filmmakers provided almost no evidence to this fact, making the theory unconvincing.
The search for Satoshi Nakamoto has been ongoing since 2011, when the developer went offline. Here's a look at some of the individuals who, as the crypto community suspects, might be the real creator of Bitcoin.
What we know about Satoshi Nakamoto
Satoshi Nakamoto is a pseudonym behind the individual or a group of individuals responsible for developing Bitcoin. Here are some key facts we know about the creator of the first cryptocurrency:
- Nakamoto wrote and published the Bitcoin whitepaper in October 2008.
- The first Bitcoin transaction took place between Nakamoto and the developer Hal Finney.
- Nakamoto disappeared in 2011, passing the project on to other developers.
Nakamoto’s wallets may contain Bitcoin worth billions of dollars. Additionally, he may have secret access keys to the most capitalized cryptocurrency network, which is why some view Nakamoto as a potential threat.
Key contenders
Over the years, the following individuals have been considered as possible candidates for the Satoshi Nakamoto alias:
1. Peter Todd
Todd is a cryptographer who proposed the Replace-by-Fee concept for Bitcoin, which helped speed up transaction processing. Although he made several suggestions for improving the Bitcoin network, there is no proof that he is Satoshi. Todd denies being involved in creating the primary cryptocurrency.
2. Nick Szabo
Szabo is a well-known cryptographer who proposed the concept of Bit Gold in 1998, which bears a strong resemblance to Bitcoin. He also developed the concept of smart contracts, now used in blockchain projects like Ethereum. Szabo's writing style and ideas align closely with Satoshi's, but Szabo has consistently denied any involvement.
3. Hal Finney
Finney was one of the first participants in the Bitcoin network and was the first to receive a BTC transfer from Satoshi. Some believe Finney could be Satoshi, but he himself denied it. A key point to consider is that Finney’s illness worsened around the same time Nakamoto ceased communication with the community. Finney suffered from amyotrophic lateral sclerosis (ALS) and continued to work and communicate using assistive technologies until his death in 2014
4. Dorian Nakamoto
In 2014, a Newsweek journalist mistakenly claimed that Dorian Nakamoto was the creator of Bitcoin. Dorian denied the claim, and it was later proven false. However, the similarity in names fueled conspiracy theories for a while.
5. Craig Wright
Australian entrepreneur Wright publicly claimed in 2016 that he was Satoshi Nakamoto. However, his claims lacked technical evidence, and many in the community called him a fraud. In 2024, Wright retracted his previous statements claiming involvement in developing Bitcoin.
6. Elon Musk
Some speculate that Musk could be Satoshi due to his deep programming knowledge and interest in cryptocurrencies. Musk, however, has denied this and believes Satoshi is more likely to be Nick Szabo.
7. Len Sassaman
Cryptographer Len Sassaman, who was deeply involved in privacy technologies, is also considered to be a potential Satoshi. His death in 2011 coincides with Nakamoto’s disappearance, which strengthens this theory. Sassaman's widow, however, denies her husband’s involvement in creating Bitcoin.
Other theories
There are also more conspiratorial theories, with some suggesting that Russian President Vladimir Putin or even the U.S. Government could be behind Bitcoin’s creation.
The most likely Satoshi
Among all the contenders, many consider Nick Szabo to be the most likely candidate for Satoshi Nakamoto. His works, ideas, and concepts closely align with Bitcoin’s philosophy. However, Szabo’s consistent denials leave the mystery unsolved.
Craig Wright, on the other hand, is considered the least likely, as he has failed to provide convincing evidence supporting his claims. Moreover, Wright himself retracted his assertions in 2024.
Why Satoshi’s identity should remain a mystery
Revealing Satoshi Nakamoto’s identity could significantly harm Bitcoin and the broader cryptocurrency ecosystem. The owner of a vast number of Bitcoins could destabilize the market by selling off their holdings. Furthermore, government intervention could become more likely, which contradicts the decentralized principles that cryptocurrency is founded on. Preserving Nakamoto’s anonymity supports the philosophy of Bitcoin and protects it from manipulation.
🤔 Do you want Satoshi to be found? Share your views in our socials!
💌 Telegram, Twitter, Instagram, Facebook
Here are three other cool articles:
How to buy an NFT: a step-by-step guide
How to earn crypto rewards: a comprehensive guide
What is Internet Computer? A comprehensive guide
This article is not investment advice or a recommendation to purchase any specific product or service. The financial transactions mentioned in the article are not a guide to action. It’s not intended to constitute a comprehensive statement of all possible risks. You should independently conduct an analysis on the basis of which it will be possible to draw conclusions and make decisions about making any operations with cryptocurrency.
