So far we only know that Satoshi Nakamoto is the figure behind bitcoin, where he was the inventor and bitcoin in 2009. Precisely on January 3, 2009, Satoshi Nakamoto mining the world’s first 50 bitcoins. The first 50 bitcoins are also often referred to as the genesis block.
The forerunner of the bitcoin field itself originated from the cryptographer community, which focused on various discussions about cryptographers or computer code languages. Satoshi Nakamoto is known as an active member of the cryptographer community and has succeeded in making breakthroughs using cryptography to produce a digital currency that is generated from cryptographic blocks. So every certain time, bitcoins will be generated in a certain amount which is distributed to bitcoin miners.
At that time, the emergence of bitcoin was not very enthusiastically welcomed because it had not been seen in real terms from this digital currency. Even when wikileaks intended to use bitcoin as a medium to collect donations, Satoshi Nakamoto protested this and asked wikileaks not to do so. surprised because bitcoin in Nakamoto’s eyes is still an unfinished beta project. This happened in December 2010.
Reportedly, after this incident, Satoshi Nakamoto disappeared from the cryptographer community, and it is not known what happened next. What is clear, after his last post on the cryptographers forum in December 2010 following his start with wikileaks, Satoshi Nakamoto is reportedly no longer on the forum and does not respond to emails or questions from forum members. New news came in mid-2011 when Satoshi Nakamoto contacted Gavin Andresen, one of the managers of the bitcoin faucet, where in the email Nakamoto sent he said that the inventor of bitcoin should not be exaggerated. After that, there was practically no news about Satoshi Nakamoto.
Seeing the fact that none of the cryptographers forum members had met Satoshi Nakamoto in person, and his mysterious disappearance, a lot of speculation has developed, for example:
Satoshi Nakamoto did not like the development of bitcoin and bitcoin developed against his will when the project started in 2009.
Satoshi Nakamoto was more interested in tackling other things and retired from the world of cryptography.
Satoshi Nakamoto actually never existed, and there is a mysterious figure hiding under that name, especially when you see the fact that Nakamoto’s English is good, which is a strange thing for Japanese people.
Satoshi Nakamoto is just a nickname for a group of people who formed a team to develop bitcoin.
And much more.
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The point is, since 2011 no one has ever known where Satoshi Nakamoto went. Even if I saw the contents of Satoshi Nakamoto’s communication to Galvin Andresen in 2011 that told Galvin not to exaggerate the founder of bitcoin, I seem to believe that Satoshi Nakamoto is a fictitious name. So there may be another person or a group behind the name.
Let’s Explore Deeper Why Satochi Nakamoto Is Still Mysterious?
Bitcoin was created by Satoshi Nakamoto. But his name is still shrouded in mystery. This is because Satoshi Nakamoto is neither a person’s name nor the name of an Artificial Intelligence algorithm.
Satoshi Nakamoto’s name is a pseudonym. Since 2008, anyone can reveal the number and name group that owns the bitcoined digital currency.
During that time, the pseudonym Satoshi Nakamoto published nine “white papers” that mentioned Bitcoin for the first time. Peer-to-peer digital money which can be referred to as an electronic system is P2P.
Not far from there, Satoshi Nakamoto launched Bitcoin software for the first time. A mysterious person has dared to open up to the public and make partnerships with developers and coding activists.
Bitcoin is growing rapidly until a mysterious man named Satoshi Nakamoto suddenly disappears. Various parties have tried to uncover the numbers behind the name, but have always failed.
After exploring cryptocurrencies, speculation grew and some claimed that Satoshi Nakamoto was an acronym for the names of electronics giants Samsung, Toshiba, Nakamichi, and Motorola.
Some people even mention the big name behind Satoshi Nakamoto. Some associate it with Nick Szabo and Hal Finney, who work as cryptographers.
Currency declines and banking system shocks
The many crises that hit the Asian economy between 1997 and 1998, as well as the subprime mortgage crisis that hit the United States, left a long trauma to the decline of many people’s confidence in the central bank.
At that time, the central bank was trusted by various parties as a bank that could maintain financial stability. However, the public’s trust began to diminish over time because the financial crisis damaged the public’s trust.
Credit bubbles also occur in combination with banks charging fees on their own. Thus making Bitcoin faster to reach its perfect glory.
Satoshi Nakamoto urges to distrust traditional banking systems and create a digital currency Bitcoin that can be sent anywhere via the blockchain, namely a digital wallet, in other words no bank required, no limits on the number of transactions, transfers, and conditions of Bitcoin.
The emergence of Bitcoin affected the banking financial system. In 2019, IMP Managing Director Christine Lagarde described the Bitcoin banking system as “a shock”. Lagarde also confirmed that she will be monitoring cryptocurrency developments.
Cryptocurrencies, including Bitcoin, which we know are “decentralized” and cannot be controlled by a central bank from anywhere in the real world.
As we know bitcoin was created by satoshi nakamot, but why is his identity mysterious?, and what is the reason he doesn’t appear either in newspapers or in the media?
The figure of Satosi Nakamoto is indeed very important behind the birth of the digital currency bitcoin and is at the same time considered a person who is credited with pioneering the use of blockchain-based cryptocurrencies which has grown rapidly in the world until now as an alternative investment option as well as being one of the electronic digital payment transaction instruments available. will be more efficient in addition to the use of fiat currency as a means of official payment transactions that are used in general in the world.
At the beginning of the birth and discovery of digital currency Cryptocurrency in 2009 the world public still had doubts and found it difficult to believe in the effectiveness of the role, function and usefulness of digital cryptocurrencies such as bitcoin because from the beginning it was introduced to the public many irregularities and mysterious information about bitcoin so that its presence invites reactions and pros and cons amid the use of the general monetary system, fiat currency which was used as the official standard throughout the world at that time. This has been anticipated by Satoshi Nakamoto the inventor and the person who introduced the Bitcoin currency so that his identity is always anonymous which has caused controversy to this day.
In accordance with TS’s question above “Why is the identity of Satoshi Nakamoto mysterious” let’s dissect, analyze and open the conspiracy theory that surrounds him, the factors and reasons behind why Mr. Satoshi Nakamoto is very mysterious, including:
Cryptocurrency digital currency from its initial birth introduced a mechanism and financial system that was very different and contrary to the concept and monetary system that was officially applied in the world where the official monetary system was based on Physical currency or paper currency while BTC coins were based on Virtual currency. This is what underlies Satoshi Nakamoto’s worries and fears to hide his identity.
The inventor of Bitcoin (BTC) Satoshi Nakamoto does not want to be blamed for the cause of the collapse of the Global Monetary System in the future due to the presence of the digital currency Bitcoin so that his identity is hidden or mysterious.
It could be that Satoshi Nakamoto is not his real name, but the name of the team that created the Blockchain-based bitcoin currency.
There is a conspiracy theory that the name Satoshi Nakamoto is a combination or abbreviation of the brand names of famous products, namely Samsung, Toshiba Nakamichi and Motorola.
The creator of bitcoin Satoshi Nakamoto thinks that the bitcoin digital currency that is found will be opposed by the state monetary authorities and even difficult to get legality and recognition as an official monetary system so he prefers to hide his identity.
Bitcoin and other cryptocurrencies are difficult to become official currencies for payment transactions, buying and selling are like official currencies in general because their form is invisible and prone to scams and fraud, the price is less stable, fluctuates and becomes an arena for speculation to gain profits. has the potential to cause problems for the monetary system and the economy. To avoid various problems and responsibilities from the legal aspect, the identity of Satoshi Nakamoto prefers to be kept secret.