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The mystery at the heart of crypto

Written by better™️ | Nov 13, 2024 11:46:03 PM

Aside from the most obvious mystery at the heart of crypto - how it actually works - there is a far more intriguing human story attached to the fintech innovationNo one knows who invented it.

 

 

The idea for a decentralised digital currency had been discussed for a while in various boffin circles, but in 2009 a user called Satoshi Nakamoto turned up on a cryptography chat forum and dropped the code for a working prototype of a cryptocurrency that would go on to become Bitcoin. He hung around on the forum for a year answering questions and developing the code with other programmers - then he vanished.  

 

Analysis of his code suggests that Satoshi may have been a group of people instead of a lone actor. And analysis of his writing suggests that the individual, or group, may have been British, using phrases like ‘bloody hard’ and ‘flat’ instead of ‘apartment’.  

 

But the question remains: why? Most people with a brilliant technological innovation form a Silicon Valley start-up, become a billionaire, and claim the title of genius. Were they worried about their safety when challenging the global financial system? Did they wish to remain anonymous so no one could blame them if it all went pear shaped? Is it someone already rich and famous in the tech space?  

 

A few theories have emerged on who Nakamoto really is, from Elon Musk, to cartel boss Paul Le Roux, to shadowy government agencies. So far anyone credible has denied the accusation. (That’s exactly what Satoshi Nakamoto would say!) 

 

 

 Disclaimer: This article is for general information purposes only. While we aim for accuracy, the information provided is subject to change and may not suit your specific circumstances. Always do your own research and consider seeking independent advice before making any financial decisions.