Bitcoin was created with a vision

“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” as stated by Satoshi Nakamoto in the Bitcoin white paper.

Bitcoin was publicly announced, and initially released between the years 2008 and 2009. The domain bitcoin.org was first registered on August 18th, 2008; the Bitcoin white paper was released October 31st, 2008. The genesis block for the Bitcoin network was mined on January 3rd, 2009. For those that don’t know, the genesis block is the first block for a blockchain, typically developers will also embed a message in this block, which acts as a timestamp too.

 

 

Bitcoin’s genesis block contained this message:

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”
The message refers to the financial instability of the markets at the time, caused by fractional-reserve banking. Many have assumed that because of this message, Satoshi is likely located in the United Kingdom.

 

 

One thing to note about Satoshi Nakamoto, his identity is unknown. Over the years this has been an ongoing debate, as well for some an investigation. At points it has been believed to be numerous people, and teams. To name a few..

  • Neal King, Vladmir Oksman, and Charles Bry. This team filed a patent, after review by The New Yorker and Fast Company magazines, it was found to contain a matching phrase from the Bitcoin White paper, “..computationally impractical to reverse..”. All three men have since denied being Satoshi.
  • Michael Clear and Vili Lehdonvirta. These two were people The New Yorker’s investigation brought about. Though both have since denied being so.
  • Nick Szabo. Some believe Nick to be the writer for the Bitcoin whitepaper, Nick has said he is not Satoshi though.
  • Hal Finney. One of the first adopters of Bitcoin, and was the reciver of the first ever bitcoin transaction. He has since passed away. Hal has been believed to be a ghost writer for Satoshi. It was revealed that he lived a few blocks from another man, Dorian Nakamoto, suspected at one point of being Satoshi Nakamoto.
  • Dorian Nakamoto. This is another man who was once almost famously thought to be Satoshi, a reported claimed Dorian’s real first name was Satoshi. It is not believed at this time that Dorian is Satoshi. Dorian himself has stated he is not Satoshi.

 

Today’s Bitcoin has stayed on track with Satoshi’s vision. Though some solutions may aid off-chain, which Satoshi may not agree with; though many can agree, that scaling is needed now more than ever. Solutions like segwit, and Lightning network address those problems for this store of value. For now Bitcoin remains the top cryptocurrency, and continues to be the proven tech that works, and isn’t going away anytime soon.