Creator of Bitcoin
The tech world is eagerly waiting for the big news as expectations, that the shadowy creator of the cryptocurrency bitcoin would soon reveal his identity, heighten. It is widely believed that the billionaire bitcoin creator is finally getting ready to let the world know as to who he is.
Satoshi Nakamoto, the mysterious person who supposedly launched the digital currency bitcoin, has been instrumental in fueling a shadow economy, which is now worth billions of dollars. It is being alleged that an Australian academic by name Craig Wright is the mysterious Satoshi Nakamoto. The tech world might get to know if this is correct in the days to come.
Bitcoin, referred to as cryptocurrency or digital currency, enables users to execute transactions without the need to go through a central bank. The drug dealers and many other criminals have been selling their wares in exchange for bitcoins without revealing their true identities.
The story was sent to select media under an embargo, a source that has close ties with the telecoms industry and cryptography communityinformed The Mirror. The claims have not yet been verified and the involvement of Wright in bitcoin is yet to be fully established.
Wright, a high-flying academic, has been maintaining silence since the end of last year when he was linked to the digital currency for the very first time. He also could not be contacted for eliciting any comments on the matter. The source reportedly told The Mirror that the person who created the digital currency has already given the story to a newspaper and a television company and that he wants assume full control of the invention.
Satoshi Nakamoto Identity Rumors
Rumors about Satoshi Nakamoto’s identity have been doing the rounds for many years. It is four months now after WIRED wrote last December that Craig Wright either created or wants someone else to believe that he created the bitcoin. It was then that the world came across Craig Wright’s name.
Australian cops raided his home earlier this year after WIRED and Gizmodo published separate articles, claiming Wright to be the scientist behind bitcoin. However, the officers quickly denied any link between the raid and claims that the academic was indeed the creator of the virtual currency.
Previously, it was suggested that Nakamoto represented a group of three people and that two of the group are not alive now. It was also believed that one of them was a renowned British mathematician and that he learned the trade by being part of the Bletchley Park team that was responsible for breaking codes during World War II. The other person was believed to be an American technology security expert. The rumor was that he died just a few months prior to the Britisher’s death. These highly controversial claims have remained unsubstantiated.
Dilemma Faced by Satoshi Nakamoto
Anyone could be Satoshi Nakamoto, but the person is sure to face a huge dilemma as the bitcoins in his possession could be worth over $1 billion. And, converting it into real currency could be a difficult proposition. This is because investors would start selling their holdings even if he sells only a small part of the huge collection of bitcoins he has with him. This would send the price of the bitcoin tumbling and would even make his holding worthless, depending on the extent to which the price crashes.
On the other hand, Satoshi Nakamoto might be in a position to exercise a great deal of power if he manages to steer the course of the digital currency. Experts in the industry have been predicting for a long time that the digital or virtual currency could replace the real currencies, even though its price volatility makes investing in bitcoin a shaky affair.
During the end of last month, experts in the field of bitcoin discussed the issue of Satoshi’s identity revelation with Financial Times. According to them, the creator of the cryptocurrency bitcoin is expected to reveal his identity some time during this month.
One of the founding directors of the Bitcoin Foundation, Jon Matonis, has reportedly told the Alphaville section of the newspaper that a private group has approached him and that he is under press embargo and strict non-disclosure agreement during the due diligence period.