Through its ups & downs, Bitcoin has had quite a run for over a decade. However, the identity of its creator is yet to be discovered. The quest to find out who stands behind the creation of the world's first cryptocurrency was taken up by various governments and official authoritative bodies. With numerous publications, theories, and investigations well underway, the identity of the person or, what looks more likely, a group of people remains the biggest mystery of the Internet era.
Despite being hidden from the public eye, there are some facts, or rather quite probable assumptions about Satoshi Nakamoto's persona. What we know for sure about Nakamoto is basically that he, she, or they are the self-proclaimed creators of the Bitcoin cryptocurrency and possess the biggest sole amount of this digital coin. The first Nakamoto reference dates back to 2008, when the first publicly known instance of Bitcoin came about. Unfortunately, it is still yet unclear whether or not Satoshi Nakamoto is a real name; however, no matches have been found yet. Being the biggest opposer of the current fiat currency and financial institutions, Nakamoto quickly became an icon in today's world.
Let's take a look back and reminisce about Bitcoin's early days. Unlike the common opinion that Bitcoin was the very first instance of cryptocurrency, it is not quite so. The origins of decentralized means of payment date back to the early 80s when the decentralist movement was looking for a tool to potentially offer people more control over their finances. The first-ever crypto attempt was Bit Gold, developed by Nick Szabo. While it is widely considered to be Bitcoin's main inspiration, there has been found no overlapping between the two concepts.
Going back to Nakamoto, it is still extremely suspicious that such a massive potential was not known before, as well as there were no developers registered under a similar name. The birth of Bitcoin can be officially referred to the first appearance of the well-known essay «Bitcoin: A Peer-to-Peer Electronic Cash System», which was initially distributed among the closed group established and renowned digital developers through a crypto mailing list. Luckily, the group picked up the idea and continued cooperating with Satoshi in an anonymous way for the next two years. It was only a year later when Satoshi decided to go public with the Bitcoin code, releasing it to allow other keen developers to freely contribute and offer their own solutions and improvements to the system. After mining the first, also called Genesis block, and making the first Bitcoin transaction, Nakamoto decided that it was the right time to vanish forever and announced their departure via the untraceable email at the end of 2010.
Post Satoshi Development
Whether or not it was a good idea to leave their creation on its own is entirely up to you. But the ensured self-sustainability and the unique set of features made Bitcoin a global sensation on its own. Soon after Satoshi's departure, the first Bitcoin exchange came into life, allowing people to purchase the cryptocurrency. The first-ever transaction followed up quite shortly and took place in London, where a single Bitcoin owner spent thousands of bitcoins for a couple of pizzas. This one is commonly considered the worst crypto trade ever.
What followed up next was a complete rollercoaster. One of the most famous Bitcoin's milestones was the Silk Road or rather its relation to it. For those who do not know what Silk Road is or rather was, it was the biggest dark web trade platform back in the day. Dark or deep web users could purchase various illicit substances, weapons, and other items of that nature. It was entirely facilitated by Bitcoin and its network, providing users with a decentralized payment system, which allowed them to transact in a completely secure, unimpeded, however, safe and anonymous manner. Being honest, it made Bitcoin go viral and attracted an enormous amount of attention to it. Apparently, the hype around the Bitcoin & Silk Road was so big that it caught the eye of authorities, which soon seized the infamous website's operations by sentencing its creator. While this was rather bad publicity for Bitcoin, it was still publicity, which later resulted in the extreme growth of the Bitcoin network and opened doors for other cryptocurrencies.
As the image of Bitcoin was gradually restoring after the Silk Road scandal, more and more people started joining the network viewing Bitcoin as a lucrative investment opportunity, especially after the Bitcoin price has reached the $20,000 per coin mark. The snowball effect took over the world with thousands of people and financial groups investing in Bitcoin and its mining. As a result, more people started questioning how many coins does the creator of Bitcoin has it the stash? Well, there is no definite answer to that question, but it is estimated that Satoshi Nakamoto might hold a bit short of a million BTC, which is around 3-5% of the total finite supply. This not only makes Nakamoto the biggest Bitcoin whale, even though unofficially, but also one of the richest people (or group of people) in the world.
There were quite a few theories about the identity of Satoshi Nakamoto over the years of Bitcoin existence. The first people who were suspected to possibly be Nakatomo were mostly its early developers and miners. The previously-mentioned Nick Szabo was also among the suspects due to some similarities in their work and even the name. Anyhow, Nick denied any relations to the pseudonym soon after being accused.
Coincidentally or not, but the person named Satoshi Nakamoto does exist. However, it is only a part of that person's full legal name, Dorian Prentice Satoshi Nakamoto is a Japanese man who resides in California, USA. Just like in all the other cases, there was no found evidence of the relation to the Bitcoin system.
Next in line and the most speculated person to be behind the Nakamoto name was Hal Finney. No surprise, Finney was widely considered to be the creator of Bitcoin. He was the second person ever to have the access to the blockchain after Nakamoto themself. Not only he had the access but also was the second person in the world to mine, obtain and transact with Bitcoin, as well as being responsible for multiple system fixes, changes, and improvements. What is more, Hal has the original correspondence with the actual Nakamoto and was found to live quite near the above-mentioned Dorian. Despite such evidence, he passed away back in 2014, bringing the end to the speculations around his true persona.
That, however, did not stop the world from continuing the search, and soon another very controversial candidate came into play. Craig Wright appeared to be the most controversial person in the Nakamoto talk due to his claim of being responsible for the very Bitcoin creation. Well, it took a simple form of proof request from the key initial Bitcoin miners for Craig's claims to appear false.
Another popular theory about Satoshi Nakamoto's identity came from the linguistic study of the original Bitcoin essay. The research showed a perfect use of the English language with a slight hint towards the person being a British citizen. Whether there is truth or not, this theory also fell apart shortly after it came to life.
When focusing on a particular person, people forget that Nakamoto does not necessarily have to be a single entity. While anybody can possibly be Satoshi, there is only one way to prove it, and that is by showing the key to the earliest wallets or simply moving that Bitcoin somewhere else.
The rush to find the true identity of Nakamoto will most likely continue until the mystery is revealed. While many are eager to find that out, the truth might come at a very high cost. The public exposure will not only make Satoshi face serious consequences but also collapse the entire network. The shift of Bitcoin's value due to such an identity reveal can severely hurt the worldwide economic network and cause chaos among its biggest users such as Bitcoin sportsbooks, Bitcoin casinos, various online agencies, and businesses that use Bitcoin for their operations.