Red Hot Cyber

Cyber security, cybercrime, hack news, and more

Satoshi Nakamoto: let’s discover the mysterious inventor of Bitcoin.

Massimiliano Brolli : 27 January 2022 13:31

Autore: Brolli Massimiliano
Translate: Vincenzo Marcovecchio
Pubblication date: 1/06/2021

The true identity of the creator of Bitcoin is one of the greatest mysteries in the tech world.

Over the years, many theories have emerged about who Satoshi Nakamoto really is, ranging from a time traveler, an alien, an artificial intelligence or a cover of US intelligence, such as the NSA and the CIA.

Satoshi Nakamoto

The name Satoshi Nakamoto is a pseudonym, an alias used by a person, or by a group of people, who created Bitcoin while hiding their true identity. Satoshi is a name which in Japanese means “a man with wise ancestors” and is assumed to be male.

On October 31, 2008, on an encryption mailing list, this mysterious user wrote a message in which he claimed to have created a new electronic money system.

A white paper was published entitled: “Bitcoin: A Peer-to-Peer Electronic Cash System. Nakamoto stated that his work on coding for bitcoin began in 2007 while on August 18, 2008, he or a colleague registered the domain name of the company, creating a website at that address.

In January 2009, version 0.1 of the bitcoin source code was developed and released on sourcefurge, which is the program that manages it.

The Genesis Block

But on January 3, 2009 at 6:15 pm it generates (known as the Scrooge McDuck) “The number 1”, the genesis block, which is nothing more than the name given to the first transaction on the bitcoin blockchain which constitutes the milestone of the ‘entire trading system, i.e. the prototype of all subsequent blocks, receiving the reward of 50 bitcoins.

Il Genesis Block, la prima transazione sulla blockchain di Bitcoin

Within the “genesis block”, there was a sentence that quoted an article in the New York Times of the same January 3, 2009 that referred to the bailout of the banks wanted by the British government.

Probably Nakamoto wanted to leave an “indelible trace” of the warning to central currencies in favor of decentralized ones. Nakamoto continued to work on the software project for about another year and a half before giving up on his development.Nobody knows why Satoshi Nakamoto actually decided to disappear without ever revealing himself or even cashing in on some of the billions of dollars his first minted coins are now worth.

This has provided a fertile ground for speculation, plausible assumptions and outright conspiracy theories, although we can imagine that everything related to the start of the Bitcoin network was carefully planned, with the aim of giving it as much credibility as possible in the following future.

Nakamoto never disclosed any personal information during the technical discussions, although he did sometimes provide comments on the banking sector.

In the footsteps of Nakamoto

In his 2012 P2P Foundation profile, Nakamoto claimed to be a 37-year-old man living in Japan; however, some have speculated that it was unlikely that he was Japanese due to his native use of English and undocumented or tagged software in Japanese as well as a preference for working hours that are more consistent with the UK time zone than Asian ones.

Massimiliano Brolli