{"id":244911,"date":"2024-11-04T00:49:37","date_gmt":"2024-11-04T00:49:37","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/04\/hunt-for-bitcoins-elusive-creator-satoshi-nakamoto-hits-another-dead-end\/"},"modified":"2024-11-04T00:49:37","modified_gmt":"2024-11-04T00:49:37","slug":"hunt-for-bitcoins-elusive-creator-satoshi-nakamoto-hits-another-dead-end","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/04\/hunt-for-bitcoins-elusive-creator-satoshi-nakamoto-hits-another-dead-end\/","title":{"rendered":"Hunt for Bitcoin’s elusive creator Satoshi Nakamoto hits another dead-end"},"content":{"rendered":"
\n \n \n

Bitcoin underpins a two trillion-dollar cryptocurrency industry, is now traded by the world’s biggest investment houses and is even an\u00a0official currency in one country.<\/p>\n\n\n\n

But despite its meteoric rise, a deep mystery remains at its heart: what is the true identity of its founder, the elusive Satoshi Nakamoto?<\/p>\n\n\n\n

Many have tried to answer that question, but so far all have failed. In October, a\u00a0high-profile HBO documentary\u00a0suggested that a Canadian bitcoin expert called Peter Todd was he. The only problem: he said he was not, and the crypto world largely shrugged it off.<\/p>\n\n\n\n

So, inevitably, ears pricked up across our newsroom – and the crypto world at large – when on Thursday a call went out that the mysterious creator of Bitcoin was to, finally, unmask himself at a press conference.<\/p>\n\n\n\n

There is deep interest in who Satoshi Nakamoto is in part because they are considered a revolutionary programmer who helped spawn the crypto industry.<\/p>\n\n\n\n

Their voice, opinions and worldview would be extremely influential in an industry with such a devoted and zealous fanbase.<\/p>\n\n\n\n

But the fascination also stems from the fact that, as the holder of more than one million bitcoins, Satoshi would be a multi-billionaire, not least because the price of the coins is currently close to an all-time high.<\/p>\n\n\n\n

Given that vast wealth, it was somewhat unusual to be asked by the organiser of Thursday\u2019s press conference to pay for my seat at his grand unveiling.<\/p>\n\n\n\n

A front-row seat would be \u00a3100. It was another \u00a350 if I wanted unlimited questions. Organiser Charles Anderson even encouraged me to spend \u00a3500 in exchange for the privilege of interviewing “Satoshi” on stage.<\/p>\n\n\n\n

I declined.<\/p>\n\n\n\n

Mr Anderson said I could come along anyway but cautioned there might not be a seat for me, such was the level of anticipation.<\/p>\n\n\n\n

As it happened, seating wasn\u2019t a problem.<\/p>\n\n\n\n

\"Frontline\"Frontline
The event was held in a private room at the prestigious Frontline Club<\/figcaption><\/figure>\n\n\n\n

Only around a dozen reporters turned up to the prestigious Frontline Club – which interrupted proceedings at one point to stress it only provided a room, and not any official endorsement.<\/p>\n\n\n\n

Very soon it became clear that all attendees were extremely sceptical.<\/p>\n\n\n\n

After some digging, it emerged both the organiser and the purported Satoshi were currently embroiled in a complex legal fight over fraud allegations – linked to claims to be Satoshi.<\/p>\n\n\n\n

It was an unpromising start, and things only got worse from there.<\/p>\n\n\n\n

Mr Anderson invited “Satoshi” to come on stage.<\/p>\n\n\n\n

A man called Stephen Mollah, who had been sitting silently on the side the whole time walked up and resolutely declared: \u201cI am here to make a statement that yes: I am Satoshi Nakamoto and I created the Bitcoin on Blockchain technology.\u201d<\/p>\n\n\n\n

Over the following hour, reporters went from amused to irritated as he failed to provide any of the promised evidence for his claims.<\/p>\n\n\n\n

Mr Mollah promised that he would make the Hail Mary move of unlocking and interacting with the first-ever Bitcoins to be created – something that only Satoshi could do.<\/p>\n\n\n\n

But he didn’t.<\/p>\n\n\n\n

I departed, along with other bemused reporters, taking with us any lingering doubts that this would prove to be yet another dead-end in the quest to unmask Satoshi.<\/p>\n\n\n\n

\"\"\"\"
Stephen Mollah is the latest person to claim to be the mysterious inventor of Bitcoin<\/figcaption><\/figure>\n\n\n\n

Not another one<\/h2>\n\n\n\n

The list of those identified – unsuccessfully – as Satoshi Nakamoto is long.<\/p>\n\n\n\n

In 2014, a high-profile article in Newsweek said it was Dorian Nakamoto, a Japanese-American man living in California.<\/p>\n\n\n\n

But he denied it and the claim has largely been debunked.<\/p>\n\n\n\n

A year later, Australian computer scientist Craig Wright was outed as Satoshi by reporters.<\/p>\n\n\n\n

He denied it, before saying it was true – but then failed over many years to produce any evidence.<\/p>\n\n\n\n

In the spring\u00a0the High Court in London ruled\u00a0that Mr Wright was not the inventor.<\/p>\n\n\n\n

\"Reuters\"Reuters
Craig Wright has claimed to be Satoshi Nakamoto since 2015<\/figcaption><\/figure>\n\n\n\n

Tech billionaire and crypto enthusiast Elon Musk also denied he was behind the cryptocurrency after a former employee at one of his firms, SpaceX, suggested it.<\/p>\n\n\n\n

Which brings us to the question: does it really matter?<\/p>\n\n\n\n

The crypto market’s current valuation means it is worth more than Google. And it seems inconceivable that the tech giant would play such a big role in our lives without people knowing who founded it, and owned a sizeable chunk of the firm.<\/p>\n\n\n\n

Perhaps there\u2019s good reason for the real Satoshi to keep schtum though. That bitcoin stash would make them worth an estimated $69bn and their life and character would no doubt be heavily scrutinised if they were found.<\/p>\n\n\n\n

Peter Todd, who was named by the HBO documentary as being Satoshi, said the unwelcome attention he’s received has made him fearful for his safety.<\/p>\n\n\n\n

Many in the crypto world enjoy the fact that the mystery remains unsolved.<\/p>\n\n\n\n

“No-one knows who Satoshi is and that’s a good thing,” Adam Back, one of its core developers (and another potential Satoshi candidate) posted on X recently.<\/p>\n\n\n\n

Natalie Brunell, a Bitcoin podcaster, thinks Satoshi’s anonymity is not only deliberate but essential.<\/p>\n\n\n\n

“By concealing his true identity, Satoshi ensured that Bitcoin wouldn\u2019t have a leader or central figure, whose personal agenda could influence the protocol,” she told me.<\/p>\n\n\n\n

“This allows people to trust Bitcoin as a system, rather than placing their trust in an individual or company.”<\/p>\n\n\n\n

Carol Alexander, professor of finance at Sussex University – who lectures on the history of Bitcoin – is less sure.<\/p>\n\n\n\n

In her view, the circus around who Satoshi Nakamoto is distracts from people looking into – and getting to grips with – the more serious question of how cryptocurrencies might upend the way the economy works.<\/p>\n\n\n\n

As I left the Frontline Club it was hard to compute the bizarre press event, beyond one obvious fact.<\/p>\n\n\n\n

For now – and perhaps forever – the search for Satoshi continues.<\/p>\n\n

DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p> \n \n \n \n\n \n\n \n \n \n <\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin underpins a two trillion-dollar cryptocurrency industry, is now traded by the world’s biggest investment houses and is even an\u00a0official currency in one country. But despite its meteoric rise, a deep mystery remains at its heart: what is the true identity of its founder, the elusive Satoshi Nakamoto? Many have tried to answer that question, […]<\/p>\n","protected":false},"author":1,"featured_media":244912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-244911","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"\nHunt for Bitcoin's elusive creator Satoshi Nakamoto hits another dead-end - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/11\/04\/hunt-for-bitcoins-elusive-creator-satoshi-nakamoto-hits-another-dead-end\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hunt for Bitcoin's elusive creator Satoshi Nakamoto hits another dead-end - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Bitcoin underpins a two trillion-dollar cryptocurrency industry, is now traded by the world’s biggest investment houses and is even an\u00a0official currency in one country. 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