One of the bigger mysteries in the cryptocurrency world is the matter of who Satoshi Nakamoto is. The infamous creator of Bitcoin and blockchain, Nakamoto is still an unknown individual or group to the rest of the world. A new campaign on Russia’s Boomstarter aims to collect capital to reveal Nakamoto’s identity once and for all.
Another Pointless Search
Although it is intriguing, the Satoshi Nakamoto identity mystery is not a pressing issue. It would be nice to know who is behind Bitcoin and blockchain technology, but it seems highly unlikely their identity will ever be revealed. Nor should it really, as it will not change the current shape and direction of Bitcoin or other cryptocurrencies.
Why people continue to try and find out Nakamoto’s identity is unclear. It seems people are always hopeful to unravel a mystery, even when it serves absolutely no purpose. The identity of Satoshi Nakamoto was never meant to be unveiled to the public; otherwise, we would have learned it many years ago.
A new campaign on Boomstarter indicates there are quite a few people interested in finding out who Satoshi Nakamoto really is. These people are convinced that “Satoshi needs to be found”. This cult-like obsession raises a lot of questions. The future of cryptocurrency will not hinge on who Satoshi Nakamoto is in real life. It is unclear why some people think otherwise.
This campaign was organized by an international group of self-professed crypto enthusiasts calling themselves #FindSatoshi. While discovering the identity of Satoshi Nakamoto would help bring a bit more legitimacy to the cryptocurrency industry as a whole, there will always be rumors that Bitcoin and altcoins are used for fraud and money laundering. Those misconceptions will remain common for a very long time and may only be resolved by introducing proper cryptocurrency regulation.
It’s questionable whether this fundraising effort will be successful. A total of 15 million rubles will need to be collected, and 3 million have been raised so far. There is still a long way to go, and this amount might not be sufficient to yield any real evidence of who Satoshi Nakamoto may have been all this time.
The team has already announced several investigation agencies that it plans to partner with. The agencies are located in Japan, the US, the UK, and Russia. It is possible Satoshi Nakamoto is not a resident of any of these countries, but we will most likely never find out. People have been trying and failing to identify the Bitcoin creator for years, and there is zero reason to think this latest effort will be any different.
You may be interested
Opinion | What is a Security Token Offering (STO) and Why You Need an AdvisorBrian Evans - Oct 08, 2018
About the Author: Jaron Lukasiewicz is the CEO and founder of Influential Capital. Jaron has been an executive in the industry since 2012, previously serving as CEO of Coinsetter, one…
World Economic Forum: Blockchains improve Global EconomyBrian Evans - Oct 08, 2018
Beginning as a technology for financial ledgers only, blockchains have grown to become the corporate hype word around the globe. It’s touted as the invention that will…
‘Rehypothecation’: More about the Wall Street Practice that Could Ruin BitcoinBrian Evans - Oct 08, 2018
Note: This is part 4 in a multi-part article series exploring rehypothecation and commingling in bitcoin and other cryptocurrency markets. Part 1 and part 2 are interviews…