14 years after the publishing of the Bitcoin White paper, the founder’s identity still remains a mystery.
Snowden Praises BTC Transaction and Satoshi Anonymity
As Bitcoin clocked 14 years yesterday, Edward Snowden, a former computer intelligence consultant, seized the opportunity to praise the company via his Twitter page and posted the company’s white paper. He was fascinated with the network’s ‘basically instantaneous’ transactions and its founder’s anonymity. As a follow-up tweet to the white paper tweet, he said, “14 years ago, yet Satoshi remains anonymous. Remarkable”.
Replying to his tweet, a commenter voiced the common belief of crypto community members: that Snowden was the legendary Satoshi Nakamoto, which the former NSA analyst denied. Snowden immediately denied the assertion.
Edward Snowden is a former computer intelligence consultant on the run after leaking thousands of classified U.S National Security Agency (NSA) documents to the press. The identity of the creator of the Bitcoin network continues to remain a mystery. He is only known by the name Satoshi Nakamoto. Many individuals claim to be him without any substantial evidence to prove it.
Snowden, the Mystery Bitcoin Enthusiast
Snowden has been on the run since leaking the NSA documents in 2013, taking refuge in Russia, where he was granted unlimited permanent residency in October 2020. He received Russian citizenship on September 26, 2022, from Russian President, Vladimir Putin
Snowden is a staunch supporter of Bitcoin and was one of the prominent people to praise the currency when it first exceeded $20000, which was its all-time high.
Who is Satoshi Nakamoto? A Question Yet Unanswered
Bitcoin is the largest cryptocurrency by market capitalization. Currently, the currency stands at $395.96 billion. The network has a high transaction speed, which has long been a unique selling point. Bitcoin is the first cryptocurrency and works on the proof of work protocol. The network’s white paper was published in October 2008 in a paper published on the Bitcoin Website.
The true founder or founders of the bitcoin network are unknown to date. Satoshi Nakamoto is a pseudonym for the person or people who created the first bitcoin software and introduced the concept of cryptocurrency to the world in a 2008 paper. Nakamoto remained active in the creation of Bitcoin and the blockchain until around 2010 but has not been heard of since then.
Several individuals have proposed to uncover the Bitcoin founder’s true identity, but none have been proven to be Satoshi Nakamoto. Also, with his identity not verified, no one knows if Satoshi Nakamoto is dead or alive. If his bitcoin address is no longer accessible, a large portion of all bitcoin will cease to be in circulation.
Although the identity of the creator of Bitcoin remains a mystery, Bitcoin has continued to maintain its place as the foremost cryptocurrency, with other cryptocurrencies coming behind it.
Bitcoin’s Journey of 14 years
Bitcoin first experienced a significant price increase in 2010 when the value of bitcoin jumped from just a fraction of a penny to $0.09. Since then, Bitcoin has gone through a consistent series of price fluctuations. The price rally and crashes reflect investors’ enthusiasm and dissatisfaction with its promise.
The price fluctuation results from investors betting on an ever-increasing price in anticipation of profit. The currency was designed for daily transactions and circumvented traditional banking infrastructure. As the coin began to gain more traction as a means of exchange, many people started to use it as a store of value and to hedge against inflation.