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Craig Wright Is Bitcoin Creator Satoshi Nakamoto

Craig Wright Is Bitcoin Creator Satoshi Nakamoto

Chris in Bitcoin & Cryptocurrency published on 2, May 2016

His name was once tagged as the creator of Bitcoin, an allegation he has since then denied. But today, Craig Steven Wright finally admitted that he is indeed Satoshi Nakamoto.

The BBC reported that Wright, whose name was dragged last December into the race of identifying the man—or persons—behind Bitcoin and the blockchain technology, digitally signed the messages during the meeting with the media organization using private encryptions keys connected to the first nine Bitcoin blocks.

These blocks rightfully confirmed his admission. Along with this is the revelation that popular cryptographer Hal Finney was among the engineers that helped Wright establish the Bitcoin protocol. Finney was also the recipient of the first Bitcoin transactions in January 2009, amounting to 10 BTC.

No contentions

Apart from the demonstration of digitally signing messages, Wright also said he intends to allow others to cryptographically confirm his identity through the information he plans to release. While such steps will seal the deal for some, it is, however, not the case for Jon Matonis.

Matonis, an economist, Bitcoin advocate, and founding director of Bitcoin Foundation, believes that Craig Wright is Satoshi Nakamoto. According to him, the data pointing Wright as the Bitcoin creator proved to be believably true. He also added that the Australian entrepreneur satisfies the cryptographic, social, and technical categories.

With the question ‘who is Satoshi Nakamoto?’ finally answered, different questions demand to be asked. But the more logical question to ask is: what’s next?

Revelation not his choice

During the interview with BBC, Wright admitted that he would have preferred to remain anonymous, had it not been for the people he cares about.

Wright was quoted, saying:

“I have not done this because it is what I wanted. It’s not because of my choice…I really do not want to be the public face of anything.”

He has also announced that he would not receive any recognition that would be awarded to his name for creating Bitcoin and the blockchain technology. Money, fame, and praise are not on his list of must-haves; for him to be left alone is.

His admission, however, is expected to cause a major buzz within the Bitcoin community and to even become a headline in mainstream news. More importantly, how this will affect the Bitcoin price is something to keep an eye on.

Wright’s invention has significantly impacted the way everyone transacts locally and beyond borders. Bitcoin has made possible quick, decentralized transfer of funds at zero or infinitesimally small fees, empowering users from across the world to enjoy convenient and affordable payments.

Bitcoin has also improved the system of various industries, including e-commerce and online gambling. In fact, Bitcoin has found a growing niche for online casinos, sportsbooks, poker rooms, and other online gaming sectors.

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