The person or persons who invented Bitcoin (BTC) chose to remain anonymous. So why did Satoshi Nakamoto choose to remain anonymous?
The true identity of the creator of Bitcoin, known as Satoshi Nakamoto, is unknown. There are many reasons why Satoshi chose to remain anonymous. Decentralization, the concept of ethics, personal security, and CIA conspiracies are all possible causes.
Over the years, there has been a lot of speculation about Satoshi’s true identity, and many names have been put forward. With all of this, Satoshi did not dispose of the Bitcoins in his hands. Although it has been revealed that Satoshi era BTCs are moving from time to time, the amount of BTC moving is quite small. Especially when there are rumors that Satoshi has 1 million BTC.
Satoshi chose to create Bitcoin independently of third parties and governments. The founding philosophy of Bitcoin is an electronic payment system based on cryptographic evidence and allowing two people to transact directly with each other without the need for a third party. Given Satoshi’s intention here, it is a perfectly appropriate decision to want to remain anonymous so that Bitcoin remains a truly decentralized entity.
Cryptocurrency creators and developers have an extreme influence on the communities that grow around that cryptocurrency, and this is a factor that makes users uneasy from time to time. When we look at other prominent cryptocurrencies, for example, names such as Ethereum (ETH) founder Vitalik Buterin or Litecoin (LTC) founder Charlie Lee have a huge impact on the cryptocurrencies they have established. This is why these creators generally avoid disclosure.
Satoshi Could Be a Danger to States
One of the reasons why Satoshi remained anonymous is the possibility of going after state officials. Bitcoin may be a successful cryptocurrency project as we all know today, but it also has its downsides, as it is an alternative to government-issued money. For example, in 2011, Bernard von NotHaus was convicted of holding and selling his private currency, the Liberty Dollar.
The same could happen to Satoshi Nakamotu, the creator of Bitcoin. Governments often do not like the existence of threats to their sovereignty and monetary policy, and although they cannot ban Bitcoin, there can be life-threatening dangers for its creator.
Satoshi Nakamoto May Be A Team
Generally in the cryptocurrency community, it has been claimed that a single individual has created billions of dollars worth of cryptocurrencies and hides all traces. Even though Satoshi was stated to be a 37-year-old Japanese, Bitcoin’s original whitepaper was written in perfect English, and his email address allegedly came from a German provider.
With these facts in mind, some think of Bitcoin as a collaborative project rather than a stand-alone initiative. The creation of Bitcoin so dominated both the economy and computer programming, many now believe that the leading cryptocurrency cannot be designed by a single mind.
We will probably never know the name behind Bitcoin. However, the important thing is not to know the name but to understand the mindset of this person who started a revolution in the financial system.