E-Paper
Decrypted? Bitcoin creator Satoshi Nakamoto unmasked, says report
A report argues that Adam Back developed nearly all the core ideas behind Bitcoin at least a decade before Nakamoto published the cryptocurrency’s white paper.
The mystery surrounding Bitcoin’s creator may have edged closer to resolution, with a news report identifying British cryptographer Adam Back as the most likely person behind the pseudonym Satoshi Nakamoto — a claim he has denied.
A report in The New York Times argues that Back had developed nearly all the core ideas behind Bitcoin at least a decade before Nakamoto published the cryptocurrency’s white paper in 2008, citing similarities in technical thinking, writing style and online behaviour.
Back rejected the claim, calling the investigation a case of “confirmation bias” built on coincidences. In a post on X, he said he was involved in early discussions on digital money, but did not create Bitcoin. “I’m not Satoshi... I also don’t know who Satoshi is, and I think it is good for Bitcoin that this is the case,” he said.
The investigation rests on four key strands: Back’s early articulation of Bitcoin-like ideas; parallels between his work and Nakamoto’s; a pattern in his online activity that appears to mirror Nakamoto’s emergence and disappearance; and similarities in their writing styles.
Both Back and Nakamoto were linked to the Cypherpunks, a loosely organised group from the 1990s that advocated the use of cryptography to protect privacy and limit government oversight. The report notes that Back had proposed a decentralised digital currency system resembling Bitcoin years before its creation.
Back also developed Hashcash, a system designed to combat spam, which later became a key component in Bitcoin’s architecture. The report suggests Nakamoto combined Hashcash with other ideas such as “B-money” to build Bitcoin.
The report further argues that Back had the technical background required to create Bitcoin, including expertise in distributed systems, C++ programming and public-key cryptography -- all central to Bitcoin’s design.
Also Read: How to invest in Bitcoin: A beginner’s guide
It also points to linguistic similarities, including shared writing quirks and stylistic patterns, which the report says uniquely match Back among hundreds of individuals in relevant online communities.
Bitcoin was introduced in 2009, after which Nakamoto remained active for about two years before disappearing in 2011. The report claims Back’s public engagement with Bitcoin began shortly after Nakamoto’s disappearance, following a period of relative silence when the cryptocurrency first emerged.
Despite the circumstantial evidence, Back has maintained there is no definitive proof linking him to Nakamoto and dismissed the conclusions as speculative.
(With agency inputs)
