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The Mysterious Life of Satoshi Nakamoto

PEDRO or POT, he’s a village boy and a grandmother's product. A man of many worlds. He’s a writer, blogger and shares his Stories Online.

What Makes Satoshi Nakamoto Such an Enigmatic Figure of Our Time?

Satoshi Nakamoto means different things to different people. At a point, he is seen as one of several people or a group responsible for creating Bitcoin.

But his authoritative report, and the credentials with which he executed his projects (particularly Bitcoin), prove otherwise. The individual or group though still at large and anonymous, for various reasons and footprints left behind, could well be a single person.

It is also believed that in executing the Bitcoin project, Nakamoto developed the first blockchain database. Satoshi Nakamoto worked tirelessly on bitcoin until December 2010. The idea that Nakamoto is real has been put forth by several individuals, and some have fraudulently claimed to be the inventor himself. All the above makes Satoshi Nakamoto a mysterious man indeed.

What Others Have Said About Satoshi Nakamoto

As of 2016, the Financial Times described Nakamoto as a group of people, with Hal Finney, Nick Szabo and Adam Back cited as members.

According to Wikipedia, the Bitcoin network debuted on January 9, 2009 (block number 0), which offered a reward of fifty bitcoins for its release on Source forge (a web service that provides open-source software users with an online location for managing open-source projects and researching business software).

On the other hand, Fast Company published an article in October 2011, claiming Adam Penenberg suggested that Nakamoto might be either Neal King, Vladimir Oksman, or Charles Bry.

Gismo was not left out in this saga, as according to the online publication, Gizmodo published a story in 2013, saying that a hacker obtained evidence from Wright's email account that Satoshi Nakamoto was Wright's alias, and Kleiman's, who had died in 2013. What an enigmatic, mystifying figure is Satoshi Nakamoto!

His Public Email Exchange

According to email exchanges made public by people who corresponded with Satoshi Nakamoto in the early days, the B-money proposal was added after the fact, at Adam Back's suggestion.

Wei Dai is the one who told Satoshi about BitGold. Satoshi then emailed Dai, who created B-money. It is therefore unlikely that these proposals inspired the original design. The fact that he cites Finney's work, at least on the website, is reasonable because he corresponded with Hal Finney later.

Satoshi makes this point himself in a post to the Bitcoin forums, where he mentions Chaumian E-Cash by accident.

In addition, an opencoin.org proposal seems to be discussing the Chaumian central mint stuff, but this may be due to a lack of alternatives. They would be interested in the idea of a radically different direction. Most people dismiss E-currencies as a lost cause because the failed companies (all occurred in the 1990s), must have influenced their thoughts.


There is no doubt, as he postulated earlier "these systems failed solely due to their centrally controlled nature. This is the first time we are trying a non-trust-based, decentralized system." That gives us a clear idea of Satoshi's opinion of the previous proposals.

Bitcoin's decentralization is an influential feature that sets it apart from the rest of them. Satoshi may not be an academic according to another interesting quote from him. “Before building a system, most academic researchers jot down ideas.”

Satoshi says that he took the opposite approach, as he developed Bitcoin backward. He wrote the code first, and later the paper to convince himself that it could solve every problem. He believes he can release the code faster than a detailed specification.

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Satoshi Nakamoto’s Footprints and His Departure From the Scene

Despite Satoshi Nakamoto's mysterious personality, his activities in the early stages of Bitcoin and extensive communication with stakeholders are critical to our findings.

For instance, why did Satoshi choose the Bitcoin project? What specifically attracted him to this venture, or was he influenced by similar ideas before him?

After starting to code Bitcoin in May 2007, he registered bitcoin.org a year later, in August 2008. In the same timeframe, he sent emails to stakeholders of like minds who were interested in his project. Finally, he wrote a white paper describing the protocol in 2008, followed by the Bitcoin first code.

It was evident that Satoshi had been around for at least two years. Together, he and the other developers constantly communicated, solved problems, and kept the source code afloat.

When his collaborators snuck into the project in December 2010, however, things took an entirely different turn. Satoshi had no choice but to break up with those developers due to this difficult situation.

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Is Satoshi, Whose Photos Are Scattered All Over the Internet, a Mysterious Figure?

Today, with all the technology that is currently available in the 21st century, it is unthinkable that Satoshi can remain a mystery.

There is no doubt that Satoshi Nakamoto is indeed a man, which is the only reason he is referred to as a "he." In fact, his photos all over the internet are further proof that Satoshi is real, and not a mystery.

Why It is Believed that Satoshi Might Be an Individual

In response to the question of whether he is an individual or a group, the conclusion is that he is an individual. His online interactions provide the most reliable indicator of who he is.

Further, Satoshi's pseudonym and his two years of email correspondence with other stakeholders speak volumes. Moreover, the patching code, along with his patterns, proved this was a one-person operation.

In this case, there is no sense since people cannot use the same password, username, and pattern or method consistently the way he did.

In his writings of base code, patches, and in his skillful ability to design, Satoshi proved that he was not a novice. Considering all this, Satoshi must have written the original code base, and why not, the white paper/reports as well.

Finally, Satoshi never once openly acknowledged any third-party help in creating Bitcoin.

What Must Have Been Satoshi's Fundamental Reason for Creating Bitcoin?

What was Satoshi's knowledge of E-Cash's history? To better understand this, we can look for references on early versions of the Bitcoin website and in Satoshi's white paper.

In his white paper, he cites reports on basic cryptography and probability theory. Considering that he also references the time-stamping work that we saw earlier, it is logical to believe that his Blockchain design is based on these references - since the similarities are so apparent. In addition, he mentions Hashcash, a cryptocurrency that uses a very similar computational puzzle to Bitcoin. Additionally, he refers to B-money. The website also contained references to BitGold and a Hal Finney scheme to reuse computational puzzle solutions.

This content reflects the personal opinions of the author. It is accurate and true to the best of the author’s knowledge and should not be substituted for impartial fact or advice in legal, political, or personal matters.

© 2022 PEDRO O THOMPSON--- P O T

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