Bitcoin is the dominant player over cryptocurrencies, allowing consumers to make electronic transactions without any fees, nor have to use commercial banks, companies, or the government as intermediaries.
Bitcoins have become popular among libertarians, technophiles, speculators, and criminals, where it reaped notoriety as the illicit dark web market Silk Road’s currency.
The cryptocurrency runs on the blockchain and continuously gained traction for transparency of a way to transfer or change ownership of goods, services, and almost everything that can be traded.
This independence is attributed to Bitcoin inventor Satoshi Nakamoto.
The name dropped off the map as Bitcoin began to gain widespread recognition.
Still, many attempts to identify the secretive founder have been made, but all failed to produce a conclusive proof.
Craig Wright, Australian tech entrepreneur, finally confirmed his identity as the Bitcoin digital currency creator and ended years of speculation as to who the controversial Nakamato is.
Is Mr. Wright the Right Guy?
In December 2015, Wired and Gizmodo tech magazines have identified Craig Wright as Bitcoin founder and holder of hundreds of millions of dollars net worth of the cryptocurrency.
They had the story based on leaked emails and blogposts.
It’s been found on Dr. Wright’s blog his intent to launch a “cryptocurrency paper” back in the year 2008, which was apparently deleted after the report was published.
In another post from January 10, 2009, Wright announced the launch of Bitcoin by “tomorrow” following Australian time.
This was prior to the 3pm Bitcoin launch on January 9 in American time, the same month where Bitcoin released its first opensource client.
Around 15.5 million Bitcoins is currently in circulation, with each one equivalent to about $449.
Satoshi Nakamoto is thought to hold roughly 1 million Bitcoins which would be a $450 million fortune in digital currency.
Within a few hours after publication, police raided the 45-year-old Australian entrepreneur/computer expert’s home and office located in Sydney.
ATO authorities said the raid was linked to a long-running tax investigation rather than Bitcoin.
These stories led to many more journalists and others pursuing him and people he cares about, whom he doesn’t want to be impacted by those that were only made up.
Wright expressed how he really doesn’t wish to be the figurehead or public face but he was given no choice.
He provided evidence to BBC in an interview with them.
The proof to back up his claim pertained to the use of cryptographic keys that were linked the Bitcoins Nakamoto sent to Hal Finney, another developer, in January 2009.
They were the blocks used to send 10 Bitcoins and was recorded as the very first Bitcoin transaction.
Mr. Wright told The Economist his aim to avoid pushing down the cryptocurrency’s price through exchanging Bitcoin slowly.
The media organization was not entirely convinced on his identity as the Bitcoin creator, and said that it might never be possible at all to establish and determine who it really is.
A Reddit discussion on the Bitcoin message board claims that this signature is worthless and amassed theories on how the proof could be faked.
In 2014, 65-year-old LA resident Dorian Nakamoto was claimed by Newsweek mag to be the founder of Bitcoin, an allegation which was strongly denied.
This is partly why there’s no one to blame if many think Wright could be just another wrongly identified individual.
While not everyone is convinced on the unmasking, Wright’s identity has been confirmed by significant people from the Bitcoin development community.
Bitcoin Foundation chief scientist Gavin Andresen, said he believed Wright’s claims and previously met him in London, and was reasonably certain he was sitting next to the Father of Bitcoin.
He said he saw the brilliant, focused, opinionated, generous, and privacy-seeking Satoshi he worked with 6 years ago.
Jon Matonis, a founding director of Bitcoin Foundation, said it is in his firm belief that Mr. Wright was who he claimed to be based on his review on relevant data satisfying cryptographic, social, and technical lines.
Wright is a computer scientist, businessman and inventor as seen in his website.
In a Bitcoin Investor Conference last year, Wright said that he’s a former academic who does research commercially and which no one ever hears about.
In terms of the Bitcoin project, he says he’s been silent but hasn’t been absent and poured himself into research.
With statements directly stating he would rather not do it, that he wants to work, keep doing what he wants, and that he doesn’t want money and fame, nor adoration, Mr. Wright clearly wants to be left alone and couldn’t care less if people believed or not.
Satoshi is Dead.
Roberto Capodieci, Singapore-based entrepreneur who works on the blockchain, said that if Wright is indeed the mysterious Nakamoto, then he’s now the leader of a movement.
This meant a group comprised of libertarian enthusiasts and even central banks that are experimenting with digital cryptocurrencies like Bitcoin.
The pseudonym Satoshi Nakamoto was a homage to 17thcentury Japanese philosopher and merchant Tominaga Nakamoto, Wright said on Monday.
Though he did not directly state that he was Nakamoto, he made the announcement that “Satoshi is dead,” putting an end to years of speculation on the Bitcoin creator, but then again adds that it’s only the beginning.