25 Nov 2021 · 3 min read

Who Created Bitcoin? — Three Potential Bitcoin Founders

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Although Bitcoin was created around 2009, we still don’t know the identity of its founder. Although the official records hold the name Satoshi Nakamoto, this is only a pseudonym. So, the question remains — who was the creator of Bitcoin? The mystery continues as his last communication goes way back to April 2011, only two years after Bitcoin became available to the public. Although we don’t have a definitive answer, three names keep popping up. So, let’s dig deeper into these names and see whether we can figure out who Bitcoin’s creator is.

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Who Is Satoshi Nakamoto?

Nakamoto’s presence in the crypto world is much more than that of Bitcoin’s founder. He is a philosophical figurehead, frequently mentioned on Bitcoin forums when talking about the cryptocurrency’s future.

All the more, some wallets associated with Nakamoto hold 980,000 Bitcoin, worth roughly $56 billion today. And since only 21 million Bitcoin will ever be mined, Nakamoto’s holdings have the potential to affect its price in case they get traded.

Interestingly, Satoshi Nakamoto is considered the 15th richest person in the world, although his identity is unknown. His net worth is estimated to be $73 billion altogether.

Dorian Nakamoto

The first attempt to reveal the Bitcoin creator’s identity came in March 2014 when Newsweek, a mainstream publication, revealed the identity of Dorian Nakamoto. The article showing the Bitcoin founder’s name caused an uproar in the tech and crypto worlds.

Although the article claimed Nakamoto as the cryptocurrency’s founder, it also claimed he was no longer involved. They also noted several similarities between Satoshi Nakamoto and Dorian Nakamoto, like their Japanese background and libertarian leanings. The latter worked on classified projects, making the whole thing even more puzzling.

Dorian Nakamoto denied being involved in Bitcoin’s creation, but since his identity and location were made public, he suffered a lot of pressure from the public that violated his privacy. The Bitcoin community rallied and raised more than 100 Bitcoin on his behalf to make it up to him. He appeared in a video with one of the fundraisers to thank the community for the ongoing support.

Nick Szabo

Nick Szabo might be the strongest contender for the title of Bitcoin’s founder. Namely, Szabo pioneered the concept of smart contracts in 1996 and conceptualised a decentralised currency, Bit Gold. This currency is thought of as a predecessor to Bitcoin, described as “a protocol with minimal dependence on trusted parties.” 

Nick Szabo’s name came to prominence when author Dominic Frisby released his book Bitcoin: The Future of Money?, noting that Szabo might be Satoshi Nakamoto. His proof came from comparing their writing styles, stating many similarities. The author also wrote about other clues, like both Szabo and Nakamoto referencing the economist Carl Menger. 

Szabo denied being Nakamoto in an email to the author in 2014.

Craig Wright

In December 2015, Wired Magazine put out a profile on Craig Wright, claiming to have the most substantial evidence of Satoshi Nakamoto’s identity. Wright said that his credentials hold a bit of everything, including two doctorates. However, he also noted that he prefers to stay out of the public eye.

Wired Magazine claimed to have found leaked transcripts of Wright’s meetings with lawyers where he admitted to having been “running Bitcoin since 2009.” Besides this, Wright’s blog featured many crypto papers dated back before Bitcoin came to the scene.

However, Wired Magazine followed up on this article noting many inconsistencies about Wright being Nakamoto.

On the other hand, Wright has taken the media attention and used it to his advantage to create a prominent role for himself in the crypto community. He formed Bitcoin SV and serves as a chief science officer at nChain.

Will We Ever Know the Bitcoin Founder's True Identity?

This question has been on every crypto enthusiast’s mind since Bitcoin came around. Although there have been plenty of guesses over the years, we do not have a definite answer. Whoever created Bitcoin did a tremendously good job hiding their identity from the public, especially with today’s technology.

One of the three men mentioned above might be Bitcoin’s creator, but it’s unlikely we’ll ever get to the truth.