Being Satoshi Nakamoto only means standing under the spotlight, but in terms of actual benefits, it can be said that it is a hundred disadvantages and no advantages.
Written by: WOO
The well-known American television company HBO launched a documentary (Money Electric: The Bitcoin Mystery), in which the well-known documentary producer Cullen Hoback believes that Peter Todd is Satoshi Nakamoto for the following reasons:
In 2010, Todd's new account responded to Satoshi on bitcointalk; HBO claimed that he accidentally used his own account to complete Satoshi's post, and both accounts were silent for a few days.
Todd later implemented the “Fee Replacement” concept discussed in the post
HBO claims Peter Todd used pseudonym John Dillon to promote 'fee replacement' concept
Both use British/Canadian spelling
Satoshi’s posting schedule is similar to that of a student, with more content posted on weekends
Todd once discussed "sacrificing" Bitcoin, which may be referring to destroying Satoshi's Bitcoin
As soon as the news came out, Peter Todd denied the accusation that he was Satoshi Nakamoto. He said that Cullen Hoback's accusation was groundless and he did not know who Satoshi Nakamoto was.
Who is Satoshi Nakamoto has always been the biggest mystery in the cryptocurrency circle. Both mainstream media and crypto users have not stopped looking for Satoshi Nakamoto. In this article, WOO X Research will take you to look at the three possible candidates for Satoshi Nakamoto, and discuss why everyone denies that they are Satoshi Nakamoto? What impact have these measures brought to the market?
Peter Todd
Peter Todd is a software developer from Canada with a Bachelor of Integrated Media from the Ontario College of Art and Design, and was studying for a Master of Physics when Bitcoin was born. He taught himself programming and currently lives in Toronto.
Peter Todd has been passionate about digital currency since he was a child. In 2001, he asked digital currency pioneer Adam Back about the application of Hashcash. Since 2012, Peter Todd has submitted code to Bitcoin Core and made important contributions in security and privacy. He has served as the chief scientist of several Bitcoin-related projects, including Mastercoin and the open source Bitcoin wallet Dark Wallet.
In addition to Bitcoin, Peter Todd has also served as a consultant for many blockchain and cryptocurrency projects, providing expertise in areas such as consensus mechanisms, privacy protocols, and secure software development. He has also participated in the creation of tools and technologies such as OpenTimestamps, a project that uses the Bitcoin blockchain to create decentralized and verifiable timestamps. In 2016, he participated in the launch of the privacy coin zcash with NSA whistleblower Edward Snowden and publicly destroyed the computer he used to create the cryptocurrency.
Todd's work often revolves around challenging and improving existing blockchain system designs to improve their efficiency and resilience. His contributions make him one of the key figures in ensuring the long-term sustainability and security of Bitcoin and other decentralized technologies.
Len Sussaman
Len Sassaman is a well-known cryptographer and privacy advocate who has a significant influence in the field of information security and privacy protection. He was a member of the Electronic Frontier Foundation (EFF) and participated in many projects to protect personal privacy and digital rights. His contributions to encryption technology and anonymous communication systems are particularly important, especially in the design and implementation of modern privacy technologies.
One of Sassaman's most well-known works is the development of the Mixmaster anonymous remailer system in collaboration with other famous cryptographers. This system is one of the email anonymization tools that aims to hide the source and destination of emails to protect user privacy and avoid third-party tracking and monitoring.
In addition to his technical work, Len Sassaman is also an active promoter of privacy and encryption technology. He often participates in various seminars and lectures to share his knowledge and emphasize the importance of encryption technology. He also works as a researcher at KU Leuven in Belgium, focusing on information security and privacy protection.
Sassaman died of depression in 2011, but his name has recently been mentioned as a possible Satoshi despite his long-death history. His work background and timeline match the development of Bitcoin, and the fact that Satoshi stopped public activities when he died in 2011 has led to many speculations that he might be Satoshi.
Adam Baker
Adam Back is a famous cryptographer and Bitcoin pioneer, known for his contributions to digital currency and blockchain technology. He is the only cryptographer mentioned in the Bitcoin white paper and one of the early developers of blockchain technology. Adam Back's most famous achievement is the creation of Hashcash, a Proof of Work (PoW) system, which later became the core foundation for Bitcoin miners to verify transactions.
Hashcash was originally designed as a technology to prevent spam and denial of service attacks. The concept is to require senders to calculate a specific computational problem (PoW) before sending an email, thereby limiting the ability to spam emails. When Satoshi Nakamoto created Bitcoin, he built Bitcoin's mining and transaction verification system based on Hashcash's proof of work mechanism.
Adam Back is also the co-founder and CEO of Blockstream. Blockstream is a company dedicated to promoting the application and development of blockchain technology, focusing on the research and development of Bitcoin and other blockchain infrastructure. The company has launched a number of Bitcoin-related technologies and applications, including the development of Liquid Network (Bitcoin's sidechain technology) and Lightning Network, which are designed to improve Bitcoin's transaction speed and efficiency.
Back is not only a technical expert, but also an active advocate of the concept of decentralization and the spirit of Bitcoin. He has participated in many global Bitcoin and blockchain technology seminars, and published articles and insights in the community to discuss the future and development direction of Bitcoin. Since he is the only cryptography expert mentioned in the white paper, he is suspected to be Satoshi Nakamoto himself.
Why doesn't anyone want to be Satoshi Nakamoto?
Before the HBO documentary was released, the perennial question of who Satoshi Nakamoto was resurfaced, with Len Sassaman and Adam Back being the popular candidates. Len Sassaman's widow denied her identity, and Adam Back also said that he was definitely not Satoshi Nakamoto.
So why do people stay away from "Satoshi Nakamoto"? Acknowledging this identity will definitely cause more harm than good:
Legal risks: Being Satoshi Nakamoto may face legal risks from governments. Many countries have unclear attitudes towards cryptocurrencies, and some even regard them as hotbeds of illegal activities. Therefore, if someone publicly admits that he is the founder of Bitcoin, he may become the target of government crackdowns and even be accused of illegal financial activities or money laundering.
Personal safety concerns: Satoshi Nakamoto holds a large amount of Bitcoin (estimated to be about 1 million BTC), which has not yet been moved. If Satoshi Nakamoto's identity is exposed, he will become the focus of the world and may become a target of hackers, criminal organizations, and even governments. Having such a huge fortune will cause extremely high security risks, including personal safety issues. Therefore, hiding your true identity is a way to protect yourself and your family.
Keep Bitcoin decentralized: One of the core concepts of Bitcoin is decentralization. Satoshi Nakamoto hoped that Bitcoin could exist independently of any individual or organization from the beginning. If Satoshi Nakamoto's identity is made public, the Bitcoin community and development may be affected by him, which will undermine the original intention of decentralization and distort the value and concept of Bitcoin.
Beliefs: The last point, and perhaps the most important one, is that Satoshi Nakamoto (or those suspected of being Satoshi Nakamoto) may truly believe in the ideas of decentralization and anonymity. To these people, Bitcoin is a tool that can change the world, and its success should not depend on the existence of a single individual or authority. Publicizing one's identity not only goes against these ideas, but may also shake the foundation of Bitcoin. Therefore, they choose to protect this secrecy to maintain the purity and independence of Bitcoin.
To sum up, being Satoshi Nakamoto only means standing under the spotlight, but in terms of actual benefits, it can be said that it is a hundred disadvantages and no advantages.
Market reaction
The meme market will not give up the opportunity for hype. First, Len Sassaman’s eponymous tokens LEN and Sassman appeared, with a maximum market value of 2.5 million US dollars, but currently the related concept tokens have been halved again and again.
It is worth mentioning that when HBO announced that they believed Satoshi Nakamoto was Peter Todd, a crypto user immediately asked Peter on Twitter if he had any animals. He said he was going to Solana to get a dog.
And Peter Todd responded directly: Your Mom
At the same time, the token of the same name, Yourmom, soared, with its market value reaching a peak of $6.5 million. It has now fallen back to $500,000, a drop of 93%.
Before the documentary aired, prediction market Polymarket showed that crypto users believed Len Sassaman was most likely to be Satoshi Nakamoto announced by HBO, followed by Adam Back, while Peter Todd was never among the options, which also led to the opening of another prediction vote: "When will Satoshi Nakamoto's identity be confirmed?"
So far, 96% of users believe that Satoshi Nakamoto’s identity will not be revealed until the end of 2024. Perhaps keeping Satoshi Nakamoto a mystery forever will be the best outcome for the crypto market and even the world.
