Satoshi Nakamoto – Why Idea Behind Bitcoin is Anonymous

In 2008, a white paper was issued under the pseudonym Satoshi Nakamoto. The note detailed the creation of the Bitcoin. Bitcoin is regarded as the world’s most valuable cryptocurrency with a market cap over $ 1 trillion, but in the modern world where privacy is a thing of past, Satoshi Nakamoto origin and identity remains mysterious. Some of the questions that are unanswered are who is the creator of Bitcoin, is it individual or group of individual, could it be Some Government Agency testing the concept of Internet Money? As we move into 2022, the question of who is real Satoshi Nakamoto remains unanswered?

Satoshi Nakamoto emerged out of nowhere in 2008 and created the world’s first cryptocurrency. He vanished three years later, sending a farewell message to Bitcoin developer community through email on April 23, 2011. In the mail he stated that the future of Bitcoin is in good hands and he is moving on to other hands.

 Craig Wright has claimed in various forums that he is the inventor of Bitcoin. A US jury recently ordered Craig Wright, an Australian computer scientist to pay $100 million in damages for allegedly defrauding a deceased friend over intellectual property for the cryptocurrency.

Dave Kleiman, a computer security expert who died in 2013, is said to have worked with Wright to build and mine Bitcoin in its early years, according to the allegations of late Dave Kleiman brother. The claim has been lodged by his brothers against Wright to recover half of 1.1 million Bitcoins worth $57 billion that Satoshi is alleged to be holding.

Trial lasted for three-week trial. Following the trial, the jury in the Miami federal court waited roughly a week to reach a decision. The jury dismissed most of the claims against Craig Wright’s. However, the verdict is unlikely to settle the controversy over whether Wright is Satoshi Nakamoto or not.

According to the jury, the claim for half of the 1.1 million Bitcoin does not qualify for award and hence rejected however Wright has to pay $100 million to his late partner’s company for infringement of intellectual property.

Cryptocurrency investing community regards Wright as not a genuine Satoshi, and years of legal battles in Florida haven’t swayed the doubters. Wright has stated various times in the court and in various news interviews as well as other forums that he is the inventor of the Bitcoin.

However some of the facts will always be remembered in the History of Bitcoin related to initial transactions especially the first transaction under which Hal Finney received  10 Bitcoins from Nakamoto on downloading the Bitcoin programme on its release date. Similarly first commercial transaction was recorded in the year 2010, when 10,000 Bitcoin was paid for two Papa John’s pizzas by a programmer called Laszlo Hanyecz.

Coinbase the World’s leading Cryptocurrency platform , during its IPO has highlighted the Bitcoin holdings of Nakamoto as one of the risk factor in the  filing made with  Securities and Exchange Commission (SEC). Bitcoin is decentralised and its open source code are developed with the support of developer’s communities around the World. Gavin Andresen is regarded as one of the key developer. He was once Nakamoto  key associates . Nakamoto at the time of leaving left development of  Bitcoin code in Andresen’s hands. However, Andresen is no more a core maintainer.

In 2014, Dorian Nakamoto, the resident of Los Angeles was said to be the creator of  Bitcoin’s. However Dorian  Nakamoto has refuted her involvement with the cryptocurrency. Dorian Nakamoto released a public statement denying her links with the Bitcoin. The day she released her statement , Satoshi Nakamoto surfaced online and posted a statement confirming that  Dorian  Nakamoto is not Bitcoin  creator and  vanished. Nick Szabo, has also contributed immensely for the development of Bitcoin and some regard him as creator of Bitcoin including Tesla CEO Elon Musk.

Internet 3.0 is reshaping the World and digital currencies are going to play the founding block of this revolution or in some sense the acceptance of Digital Currencies may pose challenge to Sovereign currencies. Craze of Internet currency is booming. What started with Satoshi is become the household phenomena across the length and breadth of the World. It is hard to believe that in today’s world, man building such an eminence craze of Bitcoin around the World can remain anonymous, unless things are designed to remain anonymous at the sovereign level.

More Bitcoin becomes mainstream, more forcefully the underlying question will haunt the World – Who is Real Satoshi Nakamoto

Bureau Galactik View

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