Who is Satoshi Nakamoto

  • Posted by: Zulu X
  • Category: Important People in Cryptocurrency
Who is Satoshi Nakamoto

By recent market capitalization, this is the $60 billion question. Arguably a $130 billion question as his/her Blockchain architecture sparked the rise of what we today know as the cryptocurrency sector, scam coin and all.

As the adage goes: ‘’guns don’t kill people, people kill people’’. There are a number of excellent Blockchain based projects out there with teams worthy of partnerships with fortune 500 companies. This coupled with a deep understanding of this nascent technology will see these projects help shape not just economies, but humanity. On the other side of the “coin”, you have projects ranging from 100% pyramid schemes to projects with descriptions of the capital allocation and project goals listing ‘’beer and fun’’. I am still puzzled as to how they raised capital, however, I am quite sure their road map and miles stones have been met and in most exceeded or met ahead of schedule.

As the founder of Bitcoin, Satoshi Nakamoto’s identity is important, but more so how can he affect the direction of Bitcoins value. The name Satoshi Nakamoto is nom de plume of sorts and used by the original creator and promoter of Bitcoin. He ceased communication around December 2010. No one for sure knows the reason with drop-in communication.  Some postulate that perhaps he was hit by a bus or became a monk. Others are more creative in their approach and come out and claimed to be Satoshi himself the most famous of which is Craig Wright, an Australian math professor. There are people who were simply caught in the crossfire in a random twist of fate, his name Dorian Prentice Satoshi Nakamoto. This elderly Japanese man living in the USA was hounded to such an extent that “bitcoiners” pooled money to compensate him for his inconvenience. Even Elon Musk was accused of being accused of being Satoshi, a claim he denies although he regards the technology as brilliant. On the more conspiracy side of the spectrum, there are some who believe that the National Security Agency of the USA created Bitcoin as they were amongst the first to use SHA-256. SHA-256 is a256-bitt form of encryption used by Bitcoin presently and the NSA either presently but most definitely at one point in time.  As you can imagine breaking the encryption that maintains a nation’s most classified information would be difficult to say the least. If people could, we would know by now the answer to the conspiracy theory of who killed the American president John F Kennedy, but they cannot so we shall not.

Some central banks to this day use low-level of encryption. If Satoshi were to come back, could he crash their system and break the encryption? Could the NSA? Could the humble Mr. Dorian Prentice Satoshi Nakamoto …. Not likely. The possibility would require you to have access to an advanced quantum computer in order to have God-like computing power to perform a 51% attack. There are about 4 in the world and they are still very early laboratory owned and managed by the likes of Google and IBM. Not the type of thing you can order from eBay with express delivery.

When discussing quantum computing resistant technologies, or postulating proof of stake ‘’cures’’ to the eventual future problem, the point becomes moot on the basis that if you had a quantum computer and could access and manipulate nukes, drones, all countries secrets, banks, and central banks, there might be more pressing concerns. The behavioral economics of Bitcoin would not see all the largest miners pooling resources to manipulate a 51% attack. This would mean their stock would be rendered worthless and the equipment having to mine another coin SHA 256 coin which would also be worthless in the event of SHA-256 not being secure.

‘’Whale’’ is a colloquial term for individuals or entities with large amounts of coins i.e. Bitcoins. These individuals, as with any commodity or currency, have the ability to move the market up or down through buying or selling large quantities. Mr. Satoshi still has a large count of Bitcoins in his bitcoin wallet, about 1.1millon coins. If we include all the forked coins attributable to that address, that means that depending on the price, it could be worth between 2 and 20 billion USD i.e. a whale. Though people still send bitcoin to Satoshis address like a cult-like following, no BTC has moved from that address. To see coins move out of that address would be akin to corpse waking up at a funeral! As with most Bitcoiners, Satoshi was linked to several wallet addresses, most notably to address: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa, the genesis block.

At this point in time, who exactly is Mr. Satoshi Nakamoto will remain a mystery. Though his contribution toward Bitcoin’s birth is undeniable his absence or his death, he leaves no ability to contribute to its future.

References

https://www.ccn.com/called-the-inventor-of-bitcoin-satoshi-nakamoto
https://coinmarketcap.com/https://news.bitcoin.com/people-keep-sending-satoshi-nakamoto-bitcoin/
https://medium.com/m/global-identity
https://cointelegraph.com/news/bitconnect-ponzi-scheme-no-sympathy-from-crypto-community
https://www.bloomberg.com/news/articles/2017-11-28/elon-musk-tweets-to-debunk-speculation-that-he-s-behind-bitcoin

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