Mystery surrounds the identity of Satoshi Nakamoto, the founder of Bitcoin. We cannot say with surety whether Satoshi was a single person or a small team. If he were a single person, it opens up the possibility of future innovations. It also indicates there are more unknown geniuses out there. When treated as a team, it proves that secrets are easier to keep than people think. That gives rise to conspiracy theories.
What is widely believed is that Satoshi Nakamoto is a pseudonym used either by a single creator or a group of creators who published the original white paper in 2008 and released the Bitcoin software in 2009.
It is a matter of speculation whether Satoshi is dead or alive. He has not been heard since 2011. They stopped communicating with Bitcoin community since then. It is natural to be curious about who could have created more than $1 trillion in market capitalization. If we presume, he passed away, it is logical that no longer we hear from him. Bitcoin’s ‘origin block’ is less likely to be sold. It might be frozen for ever, with its current valuation in tens of billions of dollars. It puts a stop to creation of bitcoin. Even rules of Bitcoin cannot be changed.
A living Satoshi could have exercised more sway over Bitcoin users and institutions. It is in the interest of Bitcoin if Satoshi is no longer alive.
If the original block has not been moved, there are questions about human motivation. Does it mean that people do not want to be billionaires? Why has it not been encashed? Does it mean Satoshi’s sudden death? However, even a dying person thinks of allocating funds for a cause, relative or charity. Could it be that Satoshi destroyed password?
It is an interesting story. Satoshi, if alive, thinks that aggrandizement must be avoided. Someday, we may learn about his identity. And that will affect our views.
A recent HBO documentary names Peter Todd, along with Adam Back. It is an open question. Why one should care? There is a great deal at stake — intellectual, financial and political. He could a product of a movement obsessed with e-cash or e-gold.
Thus, potential Satoshi candidates could be Nick Szabo, Hal Finney, Wei Dai. David Chaum and Douglas Jackson among others. These are experimental movements. They suggest direction and should not be judged on the success or failure of the movements.
Since Satoshi alive could have hold over a million Bitcoins worth billions of dollars, there is no such movement from their original wallets, and hence the mystery persists. The original block is also known as the ‘genesis block’. It denotes fixed supply. It presupposes creation through the process of mining — solving complex math problems and get Bitcoins as a reward. The original block has historical significance — the timestamp, the initial block hash and a message from Satoshi. It is one-of-a-kind artifact, a cornerstone of Bitcoin’s existence.