Dorian Nakamoto is suing Newsweek for identifying him as the elusive Satoshi Nakamoto while Crypto Coin News today has another theory on the real Satoshi Nakamoto who delivered in 2008 the whitepaper on Bitcoin. The crypto currency has engaged many followers and investors who believe in the future of the digital currency the same as the Internet was the future twenty years ago.
Today’s theory is that Satoshi Nakamoto is a person identified as “x” who in 2002 wrote a post to the Usenet newsgroups alt.internet.p2p and uk.finance, titled “Virtual peer to peer banking.” The posting identified a virtual currency with much the same attributes as bitcoin. The post wrote of a currency that could surpass geographical boundaries and be outside governmental monetary boards.
The goal was predicated that the currency would have a finite amount of money. There would not be a liquidity problem as its value will increase and the amount of each digital piece could be divided. In time inflation would turn into deflation.
Since “x” did not post a name, there are posters on Reddit and Bitcointalk who speculate on the possibility that “x” is Satoshi Nakamoto, seven years before the announcement of Bitcoin on the Cryptography mailing list.
If “x” has no name, there is no way to identify him or her or a group. The IP address was in the Netherlands from the posts. Speculation was that the Dutch mathematician and cryptographer Hendrik Lenstra had worked in computational number theory. Lenstra was known as the discoverer of the elliptic curve factorization method used in Bitcoin.
The analysis of the word “Satoshi” means “clear thinking, quick witted and wise.” “Naka” can mean “Medium, inside or relationship”. “Moto” can mean “origin” or “foundation”. Do these word meanings apply to the person or persons who produced the Bitcoin white paper? It is possible and a good clue but it is no closer to the identity of Satoshi Nakamoto.
The NSA produced algorithms in a paper released to the MIT mailing list and the American Law Review in 1996 that appears a twin to Bitcoin. The release of the ‘How to Make a Mint: the Cryptography of Anonymous Electronic Cash” existed before the 1998 Satoshi Nakamoto white paper to metzdown.com. The theories abound but are no closer to the identity of Satoshi and it may remain a mystery. The cryptocurrency will find its way into the future and continue due to the many that now are engaged by the concept and believe in it.