Bitcoin and crypto traders alike have always been intrigued by the mystery surrounding Satoshi Nakamoto, the pseudonymous trader behind the creation of the world’s number one digital currency.
Maybe Keeping Nakamoto Hidden Is Best
Who is he? How did he get the idea, and is he still alive or has he passed on? These are all major questions that several bitcoin enthusiasts have likely asked themselves over the years, but according to several analysts and industry experts, it might be best not to know.
The argument appears to have begun with the rumor that Adam Back – a 49-year-old computer scientist from the United Kingdom – was the reclusive Nakamoto. While Back denies he has anything to do with the creation of bitcoin, he did comment that not knowing who Nakamoto really was could be the best thing for the currency and keep it in check.
In a recent interview in Malta, he commented:
It’s generally viewed at this point as better that the founder of bitcoin is not known because a lot of people have a hierarchical mindset. If you read about technology, you try to figure out who is the CEO of a company, and people want to ask you questions. Because bitcoin is more like a digital version of gold, you wouldn’t want gold to have a founder. For bitcoin to keep a commodity-like perception, I think it’s a good thing that Satoshi stays out of the public eye.
Emmanuel Goh – co-founder and CEO of cryptocurrency analytics firm Skew – offers similar sentiment. He explains that the unveiling of Nakamoto’s identity could potentially change the public’s view of bitcoin and even bring negativity to the space. He says:
It could make bitcoin seem less legitimate as a neutral currency since this person would be seen as having outsized influence.
Others, however, seem to believe that revealing Nakamoto to the public would make no difference for the currency. One of the figures to suggest this is Charlie Lee, the creator and founder of Litecoin – a hard-fork currency of bitcoin. He comments:
If we find out who Satoshi is, it won’t affect bitcoin much at all, though there’s definitely some mystique not knowing who Satoshi is. It’s such an interesting and compelling story. So, on the one hand, I hope we never find out, but on the other hand, I would love to know.
It Won’t Have Much of an Impact
YouTube content creator and derivatives trader Tone Vays also said that unveiling Nakamoto’s identity to traders would have virtually no effect on bitcoin’s status, claiming:
The next day, he would get 100 phone calls from very high-net-worth investors and hedge funds looking to buy [bitcoin] directly from him so that it will not affect the price and potentially damage their current positions.
At press time, guesses as to who Nakamoto is have ranged from Craig Wright to Hal Finney.