Conspiracy Theories About Satoshi Nakamoto

Regardless of what you believe, the founder (or founders) of bitcoin control more than 1 million BTC, that is, about $6.4 billion. So, it would be good to know who is actually behind the first decentralized cryptocurrency. 

No one knows exactly who Satoshi Nakamoto is. Is he or she one person or a group of people? Who is hiding under this pseudonym? And while the secret of the personality of Nakamoto remains undisclosed, more and more different conspiracy theories, versions and evidence appear. Some of them are more convincing, some less. Let’s take a look at the most popular hypotheses that shed light on this complete mystery.One of the people who played a key role in the development of Bitcoin is the Hungarian-American Nick Szabo. Szabo denies he is Satoshi. He is a programmer and entrepreneur who founded now-forgotten one of Bitcoin’s early predecessors — crypto called bitGold (BITGOLD). 

Many believe that Nick Szabo was, at the very least, involved in the creation of Bitcoin. He may not have done all on his own. But if this hypothesis is true, then Szabo may be a member of a team that goes by the name Satoshi Nakamoto. The principles on which bitGold and later Bitcoin were based are extremely similar. And there is little doubt that Nick Szabo at least knows the real name of Satoshi.

But it is possible that Nick Szabo is Satoshi himself. Or, at least, he could be a person who wrote some of Nakamoto’s emails. Many noted that there are common writing mannerisms and the similar turns of phrase in Szabo’s writings about bitGold and Satoshi’s about Bitcoin. Anyone can see Satoshi is very good at staying anonymous. Who would make such efforts to keep his name a secret? And for what? Moreover, nowadays, when everyone is under the thumb and you can get information about anyone, who has enough skills to hide, especially when so many people are trying to solve the secret of his personality? To comply with this degree of secrecy you need to be a brilliant programmer. Or to get professional training.

Thus another conspiracy theory holds that Satoshi Nakamoto is indeed a fake name. But one deployed by operators inside the U.S. government, notably the Central Intelligence Agency (CIA).

There are strong evidence for this version. Whoever is the creator of Bitcoin, his accounts are still active. Today Nakamoto owns more than 1 million BTC, that is, about $6.4 billion. This excludes the Bitcoin U.S. Marshalls have seized from crypto fraud. 

Given Bitcoin uses the proof of work system, 1 million BTC requires an extraordinary amount of computing power — much more than one person could have at their disposal.

In addition, it is important to take into account a timing element. Bitcoin came to light immediately after the 2008 financial crisis, when  trust in central banks and other centralized authorities was as low as ever. 

The decentralized financial system, which made all central authorities irrelevant, seemed like a tempting idea, especially in 2008. Thus, it is possible that US government created Bitcoin after the 2008 financial meltdown. Australian entrepreneur Craig Wright claimed publicly that he is the inventor of Bitcoin after exposes by Wired and Gizmodo published identified Wright as the mysterious Satoshi.

But for as much as the crypto community is yearning for an answer to the riddle, who is Satoshi Nakamoto, it’s always the first to poke holes in the evidence supporting any theory or claim about who the Bitcoin inventor really is.

In Wright’s case, that skepticism quickly turned into an avalanche of doubt. It didn’t take long for Wright to cave under the pressure. And he ghosted, ironically, a lot like Satoshi. Deleting his blog and posting a brief apology on his homepage, Wright said he simply didn’t have the courage to try and prove his case. But the evidence could do it for him if it all just isn’t a hoax as elaborate as Bitcoin’s math.Since the answer to this riddle has not been found, many people say that in fact it is not so important who hides behind the name Satoshi Nakamoto. Perhaps there is some logic that the idea of a decentralized financial system was invented by a person or a group of people who abandoned the role of a decision-making leader.

However, the truth is that it is important to know the real identity of Satoshi Nakamoto as this person (or people) controls BTC for $ 6.4 billion. If they decide to get rid of them at once, this will lead to the collapse of Bitcoin. In addition, Bitcoin is not just a technological project. It’s also an ideological and political project.What are Satoshi Nakamoto’s views, principles and beliefs? How will they influence the future of cryptocurrency, especially after all bitcoins have been mined?

Today bitcoin is completely different that it was back in 2009. And the current blockchain code was developed by programmers whose identities we do know — what Satoshi created originally, others have taken up and modified. This is the essence of open source. Is Satoshi still alive? Have they really “moved on to other things?” We may never know who Satoshi Nakamoto is. However, perhaps it is the search for the answer may just be answer itself.