Ever wonder who created Bitcoin? ...We've all heard of it, but do you know who started it? It's a fascinating story. The inventor of one of the most famous cryptocurrencies, and the one that kickstarted the crypto-craze is shrouded in mystery...and yet, there are many rumors about this mysterious figure.
Before we begin...what is Bitcoin?
Bitcoin is a form of digital currency that was conceptualized to be used without the need of a central bank. At its core, it’s a currency that was initially developed to facilitate peer-to-peer transactions.
Bitcoin and…Mining?
As odd as it might sound, Bitcoin and diamonds have some similarities. Like diamonds, Bitcoins can be mined, but not in the traditional way. Bitcoins are created by solving complex calculations with the use of powerful computers. This process is called mining and it is open to anyone, as long as they have access to the right software and hardware.
Bitcoins are also finite. Unlike normal currency that can be printed indefinitely, bitcoin will top out when there are 21 million in circulation. This means that there are only so many bitcoins that can be mined, just like diamonds.
Who Invented Bitcoin?
Bitcoin was supposedly invented by a man named Satoshi Nakamoto…or was it? Despite having a name, there is very little known about this individual and over the years it’s been speculated that Satoshi Nakamoto was just a pseudonym used by the real founder.
Here are some plausible people that were rumored to be the real Satoshi:
Gavin Andresen
Andresen was known to work alongside Satoshi during the development of Bitcoin and became the core “maintainer” of the cryptocurrency’s open-source code when Nakamoto reportedly left the project in 2010. Andresen’s writing is also said to closely resemble that of Satoshi, leading many to believe that he never left, but rather Andresen just decided to abandon his “dual-identity.”
The speculation doesn’t stop there. He has worked full-time at the Bitcoin Foundation advocacy group and has even provided tutorials to the CIA explaining Bitcoin.
Although Andresen and other developers deny him being Satoshi, speculation is high.
Elon Musk
Elon Musk would definitely not be absent from the list of potential creators. Founder of SpaceX, Boring, X.com (which became eventually became PayPal,) co-founder of OpenAI, and CEO of Tesla Elon Musk is no stranger to pushing the limits of innovation.
It is no secret that Musk is a fan of cryptocurrencies. He even was responsible for driving the price of Bitcoin up on February 8, 2021 to a then-record of $44,801 when Telsa bought $1.5 billion worth of the currency. He has also been known to buy other cryptocurrencies (and consequently driving their value up), such as Dogecoin, which was initially created to be a “meme” among the internet community.
Musk recently created his own cryptocurrency called “Ratcoin” which went public on February 18, 2021.
Although he denies being Satoshi, he is a very strong candidate.
Nick Szabo
Specializing in cryptocurrency research, this computer scientist had once created a decentralized currency named “bit gold,” which had a stark resemblance to Bitcoin but was never put into full operation or released. Although this has led many to believe that he might be the real Satoshi, he denied having any ties to that name.
Honorable Mentions:
While there are many others rumored to be the real Satoshi Nakamoto two names that are brought up more often than others are
Paul Le Roux
Le Roux was a notorious criminal and adept coder who wanted to create a black-market version of Amazon. His potential ties to Nakamoto started when Evan Ratliffe, author of “The Mastermind,” found possible evidence that could back his theories up. He later admitted however, that many of the ties could also be attributed to mere coincidence.
Vili Lehdonvirta
Singled out in a 2011 New Yorker article “The Cryptocurrency,” Lehdonvirta was among the first people to be thought to be Satoshi. Former video-game designer and now professor, he once worked on the advisory board of a Finnish organization pushing for online privacy.
When asked, Lehdonvirta denied any ties to Nakamoto.
It is no surprise that all of the above have denied any tie to Satoshi Nakamoto, and if he is a real person his low profile is understandable. Whichever the case he is probably a billionaire today, as it was rumored he kept over a million bitcoins for himself before leaving the company.
Who do you think is the most likely candidate to be Satoshi Nakamoto? Do you think he really existed? Do you know something we don’t? Let us know in the comments below.
For more reading on colored diamonds, see the links below:
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