Elon Musk Quashes Rumour Of Being Bitcoin Creator “Satoshi Nakamoto”
by Ricky Makan Co-Founder at Unkrypted
The arguments on the Identity of Satoshi Nakamoto claims to be a never-ending one. Following a former SpaceX intern blogged that Elon Musk is probably Satoshi, Musk explained that he is actually not the founder of Bitcoin.
Rumour mills start rolling
People have speculated about Satoshi’s origins ever since Bitcoin had been invented. The reason behind to get the rumor mills rolling this time was a blog post by Sahil Gupta, a former intern in SpaceX, that blogged that Elon Musk was possibly Satoshi Nakamoto. Sahil utilizes Elon Musk’s background in Economics, expertise in production level applications and History of innovation to speculate that Elon Musk probably invented Bitcoin. Given the disruptive nature of this blocksize debate in the Bitcoin community, Sahil sought Elon’s (or Satoshi’s) interference and asks him to play the part of a founding father (similar to Vitalik Buterin at Ethereum).
However, Elon Musk has denied that he is Satoshi Nakamoto and continued by saying that he had lost the Bitcoins which were sent to him a few years back.
There’s been a discussion on social media websites previously about Elon Musk might be Satoshi Nakamoto, but nothing ever came out from these discussions. Earlier Musk’s cited views on Bitcoin weren’t flattering.
In an Interview, Elon Musk gave the statement:
“I SPECULATE IT IS MAINLY GOING TO BE A WAY OF DOING ILLEGAL TRANSACTIONS. THAT IS NOT ESSENTIALLY COMPLETELY BAD. MAYBE SOME THINGS SHOULDN’T BE ILLEGAL…. YOU SHOULD HAVE A LEGAL TO ILLEGAL BRIDGE.”
The Nakamoto and Craig Wright fiascos
Previous searches for Satoshi Nakamoto haven’t ended well. Craig Wright maintained in 2016 that he had been Satoshi and was able to persuade a few mainstream press organizations and Bitcoin programmer Gavin Andresen, prior to his promise was debunked.
Newsweek’s cover story claimed that the magazine had discovered the identity of Satoshi in 2014. They guessed that an engineer called Dorian Nakamoto was really the founder of Bitcoin. The media frenzy followed, despite Dorian Nakamoto’s repetitive denials that he was not Satoshi Nakamoto. Finally, the story of Newsweek was exposed and the magazine was left with egg on its face and the life of Dorian Nakamoto’s has turned completely upside down, bringing tremendous financial hardship for this guy.
Many people from Hal Finney to Nick Szabo were believed to have been Satoshi at different point of time, but nobody knows for sure. Many still think that Satoshi is really a group of individuals instead of just one individual.
Does it actually matter?
Even though Bitcoin has grown organically and attracted a huge number of users to its fold with no active participation of Satoshi, questions will always stay about his individuality. Nevertheless, the evolution of this Bitcoin protocol has moved apace without Satoshi, giving the gifted developers working on Bitcoin and important community service.
However, if Satoshi remains alive and if he still retains his private keys, he is thought to have about one million Bitcoins. With Bitcoin having just infringed the $10,000 level, it provides Satoshi a net value of 10 billion. Many believe Satoshi no longer has control over the coins and If he ever decided to sell his Bitcoins, then the purchase price of Bitcoins could dive.
Given that Satoshi has stayed away from the limelight for so long, it Does seem like that he values his privacy over the billions that his Bitcoin really are worth. Then again, with Bitcoin’s epic Bull Run, nobody understands at what stage the mysterious inventor might change his thoughts.
Created on Dec 1st 2017 01:10. Viewed 429 times.