Satoshi Nakamoto Revealed?

In this latest edition of Bitcoin New, something truly remarkable has happened or is in the process of happening. No, it’s not that the price of one bitcoin has reached $1000, but I predict that happening sooner that we all think. Especially with the current political state. Meaning the presidential election. Also the fact that the price of bitcoin has risen 32% in the last few months. So take from that what you will. In other more interesting new, a man by the name of Craig Steven Wright is claiming to be Satoshi Nakamoto, the master mind behind the crypto-currency. Satoshi Nakamoto is the name used by the person or people who designed bitcoin and created its original reference implementation, Bitcoin Core. Mr. Craig Steven Wright is an Australian Computer Scientist and Entrepreneur. He is not he first to do be considered to be Satoshi Nakamoto. For a while David Keinman was considered to be the creator of Bitcoin. Though, he never actually came out and claimed to be Satoshi himself.

Wright has become an incredible figure of controversy within the bitcoin community. With not only members of the community, but the cryptography authorities tearing apart his claim and any evidence he provides. Wright said that the reason for him making himself known as a Nakamoto, is to dispel rumors that are proving to be harmful to his friends, family, and co-worker.

One Theory Out There

One of many Prevailing theories is that Mr. Craig Steven Wright is simply a man under an incredible amount of press from business associates who would profit from him being Satoshi Nakamoto. This theory spawned from an occurrence last June, where a group of investors made a deal with Mr. Wright. The deal was to pay off all of his debt. Nobody is really sure why, but the theory is that they by paying off his debt and finishing his inventions and patents, they would sell them as the work of Satoshi, who would be unmasked as Mr. Wright in the process. Any work with the Satoshi name on it would be worth an incredible amount of money.

Dr. Wright’s research was into the block chain, the technology underlying Bitcoin, and the world’s big banks are rushing to invest in exploring its potential. So this could potentially be either of two things. If it turns out to be true, then this could be quite spectacular. It could also turn out to be just a fraud. Which I think it might be.

 

Supporting Evidence

There’s a number of pieces of evidence that could prove Mr. Wright’s claim. Dr. Wright handed over some emails that seem to stating that he worked on the 2008 Nakamoto white paper explaining the idea of the “peer-to-peer electronic cash system“. Other than that, a document about a trust fund for Mr. Kleiman, along with a promise not to reveal the identity of Satoshi Nakamoto surfaced. There are also minutes of a meeting between the Australian tax authorities and Dr. Wright’s business, The advisers to My Wright suggest that he possessed 1.1m bitcoins – worth nearly $800,195,000. All of this information is stuff that could potentially be fabricated. Especially considering the fact that Mr. Wright is being back by some people with an incredible amount of resources.

 

Contradicting Evidence

While there is a great amount of supporting evidence, there is also a fair amount of contradiction. Dr. Wright agreed to undertake a much simpler proof of his identity than he had offered before. He asked Jon Matonis and Gavin Andresen – to send a small amount of bitcoins to an address known to belong to Nakamoto. He would then send it back, proving that he indeed was Nakamoto. The money was sent, just like they were instructed to do, but never returned.

 

Conclusion

In the end, we are left uncertain about Dr. Wright’s claim. It seems much more likely that he was involved to some capacity, perhaps as part of a team that included Dave Kleiman and Hal Finney. I personally believe that he exaggerated his contribution. That’s just my opinion though. Many believe that he actually is Satoshi Nakamoto, and he very well could be. It just seems a little suspicious to me that when it actually came down to brass tax, he didn’t show up. What’s the deal with that? It’s not the best thing to do when you’re trying to prove something. I suppose only time will tell what happens next. Check Our Reviews page for more insight into trusted companies. Check our site for other Financial Planning reviews. Its great place to become more knowledgeable about the world of finance, and will shed some light on some of the scams out there.