Author: Alex Thorn, CoinDesk; Compiled by: Deng Tong, Golden Finance
The HBO documentary claims to have unraveled the mystery of Bitcoin founder Satoshi Nakamoto. But does that really matter?
Journalists, bloggers, and filmmakers have been trying to unravel Satoshi's identity for years, with the most recent attempt from HBO's “Money Electric: The Bitcoin Mystery” (scheduled to air on October 8 at 9 p.m. EST). So far, no one has succeeded in finding Satoshi Nakamoto. However, Bitcoin adoption around the world continues unabated. The fact that Bitcoin's creators went to great lengths to hide their identity has always been to reinforce its decentralized spirit.
Bitcoin's mysterious origins are a fundamental part of its appeal and value. The claim that anonymous developers can create a revolutionary form of money that no one controls has resonated profoundly with a generation. Over the past 20 years, the financial crisis, widespread distrust of government, and a desire for greater economic autonomy have shaped this generation.
Money is a major factor in constant speculation surrounding Satoshi Nakamoto's identity. It is estimated that Satoshi has as much as 1 million bitcoins, which are currently worth around $63 billion. Any of these signs that Bitcoin has been cashed out will undoubtedly frighten investors and cause the price of Bitcoin to plummet.
But Satoshi Nakamoto deliberately remained anonymous from the beginning. His intention has always been to address the fact that “the fundamental problem with traditional money is all the trust it takes to make it work,” as he said in 2009. By remaining anonymous, Satoshi Nakamoto eliminated any personal bias or centralized control, ensuring that Bitcoin can grow organically as a community. Currently, only cryptographic proof can prove Satoshi's identity.
Satoshi Nakamoto seldom shares his information, but here's what we know. We know he wrote the Bitcoin white paper and distributed it to the cryptography mailing list on October 31, 2008. We know he uploaded early source code to SourceForge. We know he signed up for bitcoin.org. We know he dug up the first block (“Genesis Block”). We know he posted as “satoshi” on the BitcoinTalk forum. We know that in 2011, Satoshi Nakamoto stated in his last known exchange that he had turned to something else and handed over the future of Bitcoin to the world.
Researchers estimate that Satoshi owns between 0.8 million and 1 million bitcoins, but since Satoshi wants to remain anonymous, it's difficult to determine. These coins are spread across thousands of wallets, and we've determined that only a few transactions and blocks were sent or mined by Satoshi Nakamoto. Sergio Lerner's famous Patoshi model is widely regarded as the best theory to reveal which coins were mined by Satoshi Nakamoto himself.
To clearly prove his identity, Satoshi needed to sign a message with a key known to belong to him, or transfer coins known to belong to him to the chain. Anything lacking is far from enough. This won't happen Tuesday night. This documentary won't solve this mystery. Nor should it! Satoshi Nakamoto's anonymity is one of the most important characteristics of Bitcoin's origin and a key difference between Bitcoin and other cryptocurrencies.
More importantly, those planning to reveal Satoshi Nakamoto's identity should consider the damaging consequences of human body searches. The lives of those who were wrongly revealed were ruined — whether it was Dorian Satoshi Nakamoto, who suffered the media storm, or the family of Hal Finney, who suffered the consequences of reckless speculation.
If anyone truly respects Satoshi Nakamoto's legacy, they'll protect what he values most: anonymity.