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Bitcoin founder Satoshi Nakamoto

What does the name Satoshi Nakamoto mean

The Japanese name Satoshi Nakamoto originally, like all names, meant something more than a specific set of characters. So “Satoshi” means “wise” or “thinking clearly”, and Nakamoto consists of two parts: Naka – “internal, communication, middle” and Moto – “foundation, source, source ”.

The whole story of Satoshi is very mysterious and contains a lot of coincidences if such a person exists, but, however, some believe that this may not be one person, but a whole team. This name fits perfectly into the picture of the person or team that founded Bitcoin.

We will try to figure out who the creator of Bitcoin is, Satoshi Nakamoto.

Public Bitcoin Founder

It all started in 2008: on October 31, someone, under the name Satoshi Nakamoto, published an article “ Bitcoin: A Peer-to-Peer Electronic Cash System ” on and launched an e-mail newsletter to experts in mathematics and statistics. In it, he described a fully decentralized electronic money system, which does not, in any case, involve contacting third parties, in the form of banks, in the traditional banking system. In early 2009, he created a Bitcoin wallet and launched a network. The one who wrote the articles sent the newsletters and launched the network was impossible to track. Someone was very careful about their safety and always hid everything that could lead to the declassification of his personality. Using Tor made tracking impossible.

On the sites where Satoshi was registered, the date of birth was indicated on April 5, 1975, which leads to another idea that his date of birth is another Easter egg and a joke: in 1933, on April 5, US President Roosevelt signed a decree banning Americans accumulate gold. Subsequently, in 1975, this decree was repealed.

Goals and aspirations

In October 2008, Satoshi published the following proposal in White Paper: “Bitcoin is a one-time digital cryptographic money system.”

He pointed out the problems of duplication, cited arguments about the usefulness of the blockchain and left the source code open for everyone, so we can understand that the idea did not carry the main goal of making money. If this is not so, then we can only guess what goals the creator of the popular cryptocurrency pursued.

Initially, his first mailing list with his idea was rejected by experts who pointed to the impossibility of scaling, a huge amount of resources and the insecurity of nodes, but Satoshi himself answered each of them, convincing him that he understood how to solve these problems. As a result, the first results appear. On January 3, 2009, the first block, called genesis, appears, after 6 days the first version 0.1 software released on Sourceforge comes out. On January 12, the first transaction is made from Satoshi to Hell Finney, and on October 5, the exchange rate is set: 1 dollar – 1309.03 BTC.

Gradually, in 2010, the entire website fell under the responsibility of Gavin Andersen, who was an assistant to Nakamoto.

Satoshi Nakamoto – who is hiding behind him?

Around the pseudonym since 2008, “very noisy.” There are a large number of hypotheses about the bearer of this name as the creator of Bitcoin. Some consider that this is one person, others consider the name – just an alias of the development team because developing such code alone is incredibly difficult.
Let’s figure out the most common versions.

  1. Michael Clear

23-year-old guy, in 2008 he graduated from Dublin Trinity College. The New Yorker correspondent Joshua Davis spent four months investigating Mike. Mike co-authored a book on peer-to-peer cryptography, from the information on which the bitcoin network was created. Davis decided to track down Mike and personally ask him a question: is the Satoshi Nakamoto? But when I met Mike, I got the answer: “No, it’s not me. And if I were, I would never say that. ”

  1. Nick Szabo

A group of enthusiasts at Aston University’s forensic linguistics conducted its investigation and announced the results: a certain Nick Szabo, an employee of George Washington University, was found. Researchers seized on the research work of Nick and the textual descriptions of the Bitcoin network by conducting a detailed analysis. Nick really came up with all the “criteria”, in addition, back in 1998, he came up with the BitGold project, which was a digital analog of money. The project was not implemented, but in 2008, before the publication of information about bitcoin, Nick announced that he intends to implement the project. Szabo himself denies any relation to Bitcoin or its creator.
What a coincidence, isn’t it?

  1. Dorian Satoshi Nakamoto

Under the distribution of journalists, Dorian, who is a former employee of the US CIA and has enough knowledge about cryptocurrencies, also fell. It just so happened that Dorian is an American of Japanese descent and is the best suited as the founder of the network. However, he himself made an official statement that he was not the creator. After an investigation by Newsweek reporters, Dorian hired a lawyer and began to threaten the court if someone wanted to “get” him and ask a curious question: is he the creator?

  1. Hal Finney

It was this person who received the first transfer via the bitcoin network from Satoshi himself. Hal was an experienced programmer and back in 2004 released the first “reusable job” algorithm. Finney was in demand because was a well-known cryptographer and was the second developer for PGP Corporation, but in 2014 Hal died at the age of 58, after which he was cryonized.
So if it was Hal, we are unlikely to ever find out, but for now, we can only rely on our guesses.

  1. Craig Stephen Wright

An Australian businessman, he wrote several works on the topic of cryptocurrencies, and two months before the description of bitcoin appeared, he posted an announcement on a similar project in his blog. Craig
As evidence, he provided a digital signature based on the private key that signed the ninth block of the Bitcoin blockchain and it contains information about the first transfer of coins from Satoshi to Hell Finney. Craig even met with Gavin Anderson, who confirmed that his identity was very similar to the one he knew from his correspondence with Nakamoto. Subsequently, it turned out that the keys laid out by Craig are fake and almost anyone can get them.
As a result, Stephen deleted his blog due to a flurry of criticism related to fraud.

Satoshi Nakamoto – a development team?

The code of the Bitcoin system is designed so well that it is very unlikely to be created by one person who could spend a tremendous amount of time developing it.
László Chaniec, a former bitcoin core developer, mailed to Satoshi Nakamoto by mail, and I’m sure that for one person the code is designed too well.


The first logo was introduced after the publication of the first client in 2009 and was a gold coin with the letters BC. From the symbolism, a feeling could arise that Nakamoto puts Bitcoin on a par with fiat currency, and does not create an antagonist. After the formation of the first crypto community in 2010, users paid attention to the logo and someone with the nickname “bitboy” proposed their own design option: the gold coin turned into orange, the letters of the sun were transformed into “₿”.

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