Satoshi Nakamoto is the pseudonym of the founder of Bitcoin. He has said that he is from Japan. That’s all the known information and his identity remains a mystery.

In 2014 the media thought they had found the real Satoshi – a 64-year-old computer engineer called Dorian Satoshi Nakamoto. He has firmly denied these claims. The first recipient of the Bitcoin transaction lived near the “real” Satoshi which made the story more interesting and mysterious. All of this has been left in the past and people are still in search for Satoshi’s real identity.

No matter if Satoshi is a “he”, “she” or “they”, Satoshi could be the world’s richest person or a group of people, considering the rise of the Bitcoin price in 2017.

There are two groups of reasons why Satoshi keeps his identity a secret. One involves the security of its users and the development of the currency, right when the Bitcoin craze started. If there was a single person or a group of people “controlling” the currency which is publicly known governments or banks could pressure them to impose some regulations on the transactions. As we all know, the defining characteristic of Bitcoin is that it has a peer-to-peer network and a decentralized system. Imposing regulations would be problematic. People tend to feel more insecure about the rules of a transaction if there exists only one person that defines them and could easily change them.

The second group of reasons are personal. Right now, if Satoshi would break the silence, it would potentially cause serious personal problems. Media reporters could violate his privacy as they did with Dorian Satoshi Nakamoto, camping out on his lawn. Some believe that he/she/they could be a target of many lawsuits, even though Satoshi didn’t technically break any laws. Finally, keeping in mind his possible wealth, criminal attacks could occur and he could be put in danger.

The main message is that the creator of Bitcoin is staying anonymous to protect the currency, to protect its users and finally, to protect himself.

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Posted by Min Park

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