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Who created bitcoin? -a mystery

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Bitcoin is one of the largest cryptocurrency or digital currency which is nowadays accepted as a medium of payment for international transactions. It is a decentralized, peer to peer system created to provide autonomy of operations to its users.

Who created bitcoin?

Bitcoin was created by a person or a group of persons with a pseudonym ‘Satoshi Nakamoto’. Whoever Satoshi Nakamoto is, he announced that they started to work on his idea of bitcoin in 2007 and he mined the first block on 3rd January 2009 and got rewarded with 50 bitcoins.

This is how the first bitcoins came into existence. The coins created as a reward by mining the first block called ‘Genesis Block’ however, could not be spent due to the twist in coding done for the first block.

Later, it was found out that an anonymous person mined 700,000 bitcoins. There were claims that it could be Satoshi Nakamoto, but there is no proof of this claim being valid.

Why is the creator of bitcoin mysterious?

Staying mysterious was a wise decision taken by Satoshi Nakamoto. He has created a cryptocurrency that is decentralized and has no centre of control.

It is a very thoughtfully designed program with all the required things being taken care of. At no point was there any chance of bitcoin getting failed. Had he revealed his identity, he might have had to answer many questions subject to politics, rules and the decision making of Bitcoin would have then affected him.

The Bitcoin might have failed if he had revealed his identity. Bitcoin is created seamlessly without having any point subject to failure. Maybe, he just wanted to remove the last stone that could lead Bitcoin toward failure.

The result of his efforts is in front of us that the world’s first and largest cryptocurrency is created backed by mathematical algorithms, cryptography, effective use of game theory and economics.

If we had known the real creator of Bitcoin, we might have given him a lot of fame and respect. He might have answered many mysterious answers. But since, we don’t know him; we still respect him.

People who presented themselves as satoshi nakamoto

Taking advantage of the fact that the creator of bitcoin has not revealed his real identity and has used a pseudonym; instead, many people have claimed to create the world’s largest cryptocurrency, bitcoin. However, these people were unable to prove their claims. Thus, no one could know, who created bitcoin. You can get more information on Bitsignal, read more About bitsignal.live.

Some of the people who falsely claimed themselves to be Satoshi Nakamoto are:

  1. DORIAN NAKAMOTO

Dorian Nakamoto was the first person who was claimed to be the true identity of the creator of Bitcoin, Satoshi Nakamoto.

People misjudged Dorian Nakamoto because of the same name. In March 2014, an article in the Newsweek claimed to have found the creator of Bitcoin was published with Dorian Nakamoto’s name.

The article in the Newsweek was printed with Dorian Nakamoto’s house, which was later objected to by him as his privacy was infringed. Also, he reacted aggressively to this thing and clearly stated that he has nothing to do with the creation of bitcoin.

  1. CRAIG WRIGHT

Craig Wright was an Australian Scientist who came before the media claimed to be Satoshi Nakamoto. He had almost all the proofs of his qualification and presented a quite convincing story of being the creator of bitcoin.

A Wired Magazine, in 2015 published an article named “obtained the strongest evidence yet of Satoshi Nakamoto’s true identity’ presenting Craig Wright in front of people.

Soon all these claims were proved to be false, and an article was published in the Newsweek keeping forth the points that should be noticed before approving the claims made by Craig Wright.

  1. NICK SZABO

A computer engineer and legal scholar named Nick Szabo has been perceived as the actual creator of bitcoin.

Nick Szabo, in 2008, brought a concept of digital currency that would not be controlled by any authority or government of any country and could not be banned.

Also, similarity has been noticed in the writing style of Nick Szabo and Satoshi Nakamoto. Many more things are compared between the two, which proved to be the same.

Despite various, attempts to reveal the identity of the creator of Bitcoin, we are back to the starting point having no clue about who Sathoshi Nakamoto is.

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