Bitcoin And Its Mysterious Creator

In this article, we will talk about Bitcoin and its mysterious creator. Who is behind the world’s most famous digital currency?

The supposed creator of Bitcoin goes by the name of Satoshi Nakamoto and we say that he is the supposed creator since no one has
managed to confirm the exact entity of this person to this day.

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Bitcoin creator

It is commonly believed that the creator of bitcoin is not just one person but a group of people who worked together to create the technology needed to make Bitcoin the first viable cryptocurrency.

Deciding to choose anonymity using Satoshi Nakamoto as a way to protect their identity.

Of course, the question arises as to why this person or group of people who created something so interesting and revolutionary didn’t want to take pride in having done it and instead decided to hide their identity. There are a lot of answers to this question, but the most feasible ones that have been handled are the following:

Bitcoin And Its Mysterious Creator

 

Anonymity as a way forward

A first belief indicates that precisely because Bitcoin takes power away from central institutions such as governments or huge financial intermediaries such as transnational banks, the heads of these organizations were not going to be happy and wanted to find the person or persons responsible for this innovation.

Once they had identified them, they would seek to incriminate them in some way so that at least they would have some form of revenge.

So to avoid problems the creator or creators chose anonymity as the best way to go.

 

Anonymity as security protection

On the other hand, according to the number of merchants that allow payments with bitcoin and therefore the acceptance and use of more and more people of the cryptocurrencies, we believe that it increases the value itself of bitcoin because as it is more used and accepted increases its demand and therefore its price.

Read also: Bitcoin history

As satoshi either a single person or a group of people created, through the process of mining, a large number of the first crypt coins, the value of their fortune continues to skyrocket as the value of the currency increases and this is just what has been happening in recent times.

Therefore another of the possible answers proposed for understanding this anonymity is simply protecting the personal safety and assets of this person or persons.

In fact, it has been calculated that according to the number of units of bitcoin mined by its creator(s), its value according to the exchange rate of bitcoin with US dollars at the top that has reached the cryptocurrency is around one billion dollars, which is quite a lot of money, so this theory may be feasible.

 

Anonymity can be maintained even if you’re famous

One of the great advantages of using Bitcoin is the fact that you can quickly open a wallet and similarly very quickly start using this new payment method.

All this without having to wait for complex identity verification processes typical of institutions
financial institutions, thus achieving greater anonymity.

Therefore, what this person or group of people has been looking for, is to demonstrate that one can really remain anonymous even when having as many millions of dollars in their equivalent as Bitcoins.

The goal is to show how even someone so famous and whom everyone wants to identify and is looking for can achieve anonymity if they so wish.

Of course, they have succeeded because we could mention the extremes that some journalists and other organizations for example even government organizations have gone to in order to identify the creator or creators of bitcoin without any success so far.

 

Craig Steven Wright

One important piece of news that is worth highlighting is what happened on May 2, 2016, when Craig Wright, an Australian businessman, made all the headlines, as he proclaimed himself as the creator of Bitcoin.

Although he only did it for a few hours later, he retracted it in a very strange way in what many have commented on as an attempt to get this person’s attention.

Read also: Bitcoin Origin: A Brief History of Bitcoin Cryptocurrency

He could never provide enough evidence to convince the general public and the people who have studied bitcoin since its inception that he really had the ability to generate the entire Bitcoin protocol, all the technology that is necessary to make this cryptocurrency work.

The truth is that it has managed to fulfill the mission of demonstrating the creation of value and the use of bitcoin as a means of payment while remaining totally anonymous.

It is safe to use Bitcoin

Even though we don’t fully understand all the mathematical formulas used by the bitcoin protocol to ensure the security and reliability of cryptocurrencies, and even if we don’t know who the creator or creators of the technology were, it is still totally feasible and safe to use Bitcoin.

Actually the idea is indistinguishable from driving a vehicle. Currently, millions of people drive every day without having the slightest idea of how their vehicle’s engine or intelligent braking system works and yet the car fully complies with the purpose for which it was created and acquired by the consumer, which is to take it from point a to point b.

We can also mention a more appropriate example for this digital era which is precisely the Internet where there are billions of people who every day connect to this global network without having the remotest idea either of how their computer connects to a massive and international network to which they can also connect with their mobile phone anywhere there is a cellular service.

They can do such interesting things ranging from watching and learning as with this article or they can make a purchase of a plane ticket or talk to a loved one even though they are millions and millions of miles away.

Yet thanks to the fact that all these people who do not have the technical knowledge use the tools in their daily lives.

There is an incentive for the different entities to offer the service because we also have the fact that at this very moment a huge amount of operations are already being carried out with bitcoin and if you are not participating you just need to decide and do it.

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