Finding The Answer To The Question Has Bitcoin Creator Satoshi Nakamoto Been Found?

Many opinions have been doing rounds as to who Satoshi Nakamoto is. Learn about this pseudonym in the crypto world. 

Who Is Satoshi Nakamoto In Reality?

The fact that is coming out is that the identity of Satoshi Nakamoto the creator of Bitcoin who had not been verifiably heard from since 2011 has been a hotly debated mystery since someone has been using the pseudonym authored a white paper describing a peer-to-peer cryptocurrency. However, the mystery may have been solved where Craig Stevenson Wright an Australian computer scientist has offered what he says is proof that he is Satoshi in the flesh.

Therefore the quest for the real Satoshi has seen many twists and turns including an embarrassing flub by Newsweek incorrectly putting forward a California man named Dorian Satoshi Nakamoto as the bitcoin’s creator in March 2014. Thereby Wright has been the subject of Satoshi-speculation in the past as in December hackers sent documents to Wired and Gizmodo as they claimed to prove the Australian was Satoshi as hours later police raided his home in Sydney and Wright refused to speak to the press.

Thereby on Monday, there was a post published by Wright on his blog in which he claimed to offer technical proof that he owns the private key used specifically in the first Bitcoin transaction thereby in the ninth block.

Whereas it was before the big reveal that Wright met with prominent Bitcoin developer Gavin Andresen and ex-director of the Bitcoin Foundation Jon Matonis both of whom said that they believe Wright’s claim.

Subsequently, Wright approached three news outlets the BBC, GQ, and The Economist where GQ describes the interview as saying they will be published in a forthcoming issue as incredibly heated with Wright telling senior commissioning editor Stuart McGurk that he’s doing this and then he is disappearing. Whereas he is not trying to get into the media and will never happen again 

Lingering Doubts

The Economist is the most skeptical out of the three outlets as the magazine says that Wright demonstrated in person the verification process he describes in his blog post for both block 9 and block1 noting that such demonstrations can be stage-managed as the magazine asked Wright to make his block 1 proof public and toy provide other assurances he refused to keep jumping through hoops. 

It is a fact that the skepticism doesn’t end at the Economist as a Reddit post calls Wright’s proof worthless receiving around 300 responses in four hours where many of which express the belief that Gavin Andresen’s blog was hacked as part of a larger hoax perpetrated by Wright. Therefore Gregory Maxwell another leading Bitcoin developer told the New York Times that Wright’s evidence demonstrated no connection between this person and bitcoin’s creation. 

Further, on a tweet from an account calling itself, the Official Bitcoin Core Feed says that there is currently no publicly available proof that anyone, in particular, is bitcoin’s creator. Thus there is currently no publicly available cryptographic proof that anyone, in particular, is Bitcoin’s creator. 

Bitcoin's Civil War

While it has been a stressful time in the past year for the community surrounding Bitcoin as a civil war has erupted over a technical aspect of the underlying blockchain with one camp wanting to see the individual block so that each can include more transaction information. Thereby they argue that Bitcoin will never move beyond a tiny niche if it is only ever able to process the 7 or so transactions per second it currently manages. 

On the other hand, the other camp argues that small block sizes are necessary to prevent increased centralization in a project devoted to decentralize money. Ever since creating blocks, or mining is a competitive process in which the party with greater computing power is more likely to solve for the hash first and win the 25 Bitcoin reward the small-block camp argues that as size increase would favor bigger more consolidated operations.

It was later that the Bitcoin developer Mike Hearn working with Andresen put the controversy to a vote thereby introducing an alternate version of Bitcoin’s software called XT. This is in case 5% of 1000 consecutive blocks were mined using XT it would as use larger blocks as well as those using the old software either having to switch or create a hard fork in which the blockchain tracking Bitcoin transactions splits irreparably whereas the longer chain would likely become Bitcoin in the minds of most users while the would become a nearly worthless altcoin.  

Finally Wrapping Up The Discussion

While XT did not take, it but deepened divisions in a dispute that threatens to wipe out millions of dollars in wealth with dispute playing out without the input of the mythical popular Satoshi who had not been ever heard from since 2011 except for the occasion in a couple of incidents which are believed to be hacked. In case the claims of Wright are believed, his opinion on the matter will be influential and controversial. This is why his ideal block size may have as much to do with who supports his claim than the cryptographic proofs he offers, but that’s politics. 

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