• Smart Cash
  • Log in
  • Get Started

Table of Contents

Who is Satoshi Nakamoto?

What is Satoshi Nakamoto known for?

People thought to be Satoshi Nakamoto

The bottom line

LearnBitcoinWho Is Satoshi Nakamoto? Exploring the Mystery Behind the Bitcoin’s Founder

Who Is Satoshi Nakamoto? Exploring the Mystery Behind the Bitcoin’s Founder

Aug 23, 2022


7 min read

Given the mystery around Nakamoto’s identity, people have speculated about who is behind the name. Some claims are more outlandish, while others are based on research.

In late 2008, someone going by the name Satoshi Nakamoto wrote, “I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party” in the Cryptography Mailing List. The post was titled “Bitcoin P2P e-cash paper,” and it announced the release of the white paper describing the technical underpinnings for how Bitcoin works. Nakamoto went on to release the first version of Bitcoin in 2009, and then worked with other developers to improve Bitcoin.

Except, it’s not necessarily right to say Nakamoto is someone. We don’t know if Nakamoto is a woman, man, or group of people sharing a name. And while Nakamoto created Bitcoin, which went on to become the most well-known cryptocurrency, just who or what Nakamoto is remains a mystery.

Who is Satoshi Nakamoto?

Satoshi Nakamoto, the Bitcoin founder, is the pseudonym for the person or group who created Bitcoin. While Nakamoto’s identity is unknown, that’s actually quite fitting because Bitcoin is a pseudonymous rather than anonymous cryptocurrency

Every Bitcoin transaction is listed in its public blockchain—an online digital ledger—and can be traced to a crypto wallet. As a result, everyone can look up how much Bitcoin is in each crypto wallet, and the wallet’s address is a pseudonym for its owner. But the wallet’s owner can’t be identified unless someone can uncover the owner’s true identity.

People can sometimes figure out who owns a Bitcoin wallet by tracing transactions until the owner sells the Bitcoin for dollars using a service where they registered their identity. This is how law enforcement can catch fraudsters who steal Bitcoin or use it to launder money.

But, in spite of great efforts, no one has been able to publically confirm Satoshi Nakamoto’s identity. Even the name itself is the subject of speculation and debate. Some people believe it isn’t a pseudonym at all, and have tracked down Satoshi Nakamotos who could potentially create a cryptocurrency. Others theorize it could be a combination of the names of the large Japanese corporations Samsung, Toshiba, Nakamichi, and Motorola. 

What is Satoshi Nakamoto known for?

While Nakamoto is credited with inventing Bitcoin, they didn’t work alone or invent everything from scratch. Nakamoto built on earlier concepts for digital currencies that never got a strong foothold, such as Wei Dai’s B-Money and Nick Szabo’s Bit Gold. Both were members of the cypherpunk community, who wanted to create and use public cryptography tools to avoid government observation or censorship. Cryptography-based digital currencies are a means to avoid government-created and run financial systems. 

Bitcoin also incorporated other ideas from cypherpunks. For example, Bitcoin’s proof-of-work algorithm—the way people create new coins while running and securing the network—is based on Adam Back’s Hashcash protocol. First proposed in 1997, Hashcash was designed to stop email spam by requiring computers to solve a math problem before sending an email. 

The Bitcoin blockchain is based on Stuart Haber and Scott Stornetta’s “chain of blocks” ledger, which they created in 1991. The idea is that data is grouped into a block and then chained together in a way that once a new block is added to the chain the previous blocks can’t be altered. 

Nakamoto combined and built on these to create the first decentralized cryptocurrency, Bitcoin, and then worked with others to further upgrade the program and systems. Some highlights of these early days include:

  • The Bitcoin white paper—October 2008.

    Nakamoto publishes the white paper, “Bitcoin: A Peer-to-Peer Electronic Cash System,” which outlines how Bitcoin works. It’s available on Bitcoin.org and has been translated into over 40 languages.

  • Releasing Bitcoin—January 2009.

    Nakamoto announces Bitcoin v0.1 release to the Cryptography Mailing List. It was initially available only for Windows and it was very easy to mine new Bitcoins. A standard computer could mine new coins in a few hours, while it takes specially created computers much longer to earn a fraction of a coin today. 

  • The first decentralized blockchain—2009.

    With the launch of Bitcoin, Nakamoto created the first decentralized blockchain, a database that computers around the world run. Bitcoin’s use of a blockchain can help prevent double spending (when someone tries to spend the same Bitcoin twice), and it allows users to trust that transactions are valid and safe without having to rely on a central authority, such as a bank. 

  • Collaboration—2009 and 2010.

    After its initial launch, Nakamoto collaborated with others to further develop Bitcoin. But Nakamoto was careful to avoid sharing any personal information. 

  • Handing over the reins—late 2010.

    With his permission, Nakamoto lists Gavin Andresen’s (a developer who worked on Bitcoin after its launch) email address as the contact info on the Bitcoin.org homepage. Nakamoto then removes Andresen’s email from the site. Andresen also takes over the role of as the main Bitcoin developer. 

  • Nakamoto disappears—April 2011.

    In one of the last known email exchanges with an early Bitcoin developer, Mike Hearn, Nakamoto writes, “I've moved on to other things. It's in good hands with Gavin and everyone.”

Satoshi Nakamoto isn’t believed to still be actively involved in Bitcoin, but their legacy lives on. The smallest denomination of Bitcoin is called a Satoshi or Sat, and it’s 0.00000001 Bitcoin (worth $0.0002 when one Bitcoin equals $20,000).   

People thought to be Satoshi Nakamoto

Given the mystery around Nakamoto’s identity, people have speculated about who is behind the name. Some claims are more outlandish (e.g., it’s a CIA conspiracy), while others are based on in-depth research, such as the time of day that Nakamoto sent emails or analysis of their writing style. 

A few of the people who have been named include:

  • Adam Back.

    Back created Hashcash, the proof-of-work algorithm that certainly contributed to Bitcoin, but he says the contribution is indirect and that he isn’t Nakamoto. 

  • Wei Dai.

    Some speculate the creator of B-money could be Nakamoto. Early emails from Nakamoto asking about Dai’s work could disprove this idea (as do Dai’s denial), unless those are all a complicated ruse. 

  • Hal Finney.

    Finney was one of the first people to get involved in Bitcoin—he was on the receiving end of the first Bitcoin test transaction from Nakamoto. Journalist Andy Greenberg dug into the idea ina story for Forbes but concluded that while Finney heavily contributed to Bitcoin he wasn’t Nakamoto.  

  • Dorian Nakamoto.

    A Newsweek cover story from 2014 pointed a finger at Dorian Prentice Satoshi Nakamoto (born Satoshi Nakamoto) as “The Face Behind Bitcoin.” Dorian Nakamoto, a physicist, worked on classified projects for large corporations and the U.S. military. But he denies being involved in Bitcoin at all.

  • Nick Szabo.

    The creator of Bit Gold seems like a natural fit, as Bit Gold could be seen as a precursor to Bitcoin. However, Szabo has repeatedly denied being Satoshi Nakamoto. 

  • Craig Wright.

    Wright is one of the few people who claims to be Nakamoto. Some people believe his claims, while others have found counterevidence. When Andy Greenberg and Gwern Branwen investigated the idea for Wired, they initially thought the claim was true, but later concluded it might be a hoax. 

Being identified as Nakamoto could have advantages, such as fame and press coverage, but it’s also a potentially dangerous position to be in. By some estimates, Nakamoto mined about 1 million Bitcoin during the cryptocurrency’s first year alone, which would be worth over $20 billion as of mid-2022. Hackers and fraudsters may prey on people who have large Bitcoin balances, and admitting you’re Nakamoto could put a big target on your back. 

The bottom line

Today it’s easy to buy and sell Bitcoin, and the cryptocurrency is undoubtedly the most popular crypto based on its market cap. It spawned a whole new crypto ecosystem, filled with other types of cryptos and decentralized apps. But we still don’t know who created the crypto that started it all.

At Titan, we are value investors: we aim to manage our portfolios with a steady focus on fundamentals and an eye on massive long-term growth potential. Investing with Titan is easy, transparent, and effective.

Get started today.


Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Titan has not independently verified such information and makes no representations about the accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; Titan has not reviewed such advertisements and does not endorse any advertising content contained therein.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any strategy managed by Titan. Any investments referred to, or described are not representative of all investments in strategies managed by Titan, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results.

Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see Titan’s Legal Page for additional important information.

You might also like

How to Earn Bitcoin

While investors can buy Bitcoin or swap other cryptos into Bitcoin, there are also ways to earn a lot of Bitcoin, but they tend to require a larger up-front investment.

Read More

How to Store Bitcoin Safely

When someone buys Bitcoin, they’re linking the funds to a crypto wallet. Keeping the wallet secure is vital to storing Bitcoin safely and protecting the investment.

Read More

What Is Bitcoin Mining and How Does It Work?

Bitcoin mining is the process of using computer power to mint unique digital tokens that can be transmitted across the internet and used as currency to buy goods.

Read More

What Is Bitcoin Halving?

Halving is a process designed to control the supply of Bitcoins. It slows the production rate of new Bitcoins and bolsters the cryptocurrency’s value.

Read More

Cash Management

Smart Cash

Smart Cash FAQs

Cash Options

Get Smart Cash


© Copyright 2023 Titan Global Capital Management USA LLC. All Rights Reserved.

Titan Global Capital Management USA LLC ("Titan") is an investment adviser registered with the Securities and Exchange Commission (“SEC”). By using this website, you accept and agree to Titan’s Terms of Use and Privacy Policy. Titan’s investment advisory services are available only to residents of the United States in jurisdictions where Titan is registered. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities or investment products. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are hypothetical in nature and may not reflect actual future performance. Account holdings and other information provided are for illustrative purposes only and are not to be considered investment recommendations. The content on this website is for informational purposes only and does not constitute a comprehensive description of Titan’s investment advisory services.

Please refer to Titan's Program Brochure for important additional information. Certain investments are not suitable for all investors. Before investing, you should consider your investment objectives and any fees charged by Titan. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested, including principal. Brokerage services are provided to Titan Clients by Titan Global Technologies LLC and Apex Clearing Corporation, both registered broker-dealers and members of FINRA/SIPC. For more information, visit our disclosures page. You may check the background of these firms by visiting FINRA's BrokerCheck.

Various Registered Investment Company products (“Third Party Funds”) offered by third party fund families and investment companies are made available on the platform. Some of these Third Party Funds are offered through Titan Global Technologies LLC. Other Third Party Funds are offered to advisory clients by Titan. Before investing in such Third Party Funds you should consult the specific supplemental information available for each product. Please refer to Titan's Program Brochure for important additional information. Certain Third Party Funds that are available on Titan’s platform are interval funds. Investments in interval funds are highly speculative and subject to a lack of liquidity that is generally available in other types of investments. Actual investment return and principal value is likely to fluctuate and may depreciate in value when redeemed. Liquidity and distributions are not guaranteed, and are subject to availability at the discretion of the Third Party Fund.

The cash sweep program is made available in coordination with Apex Clearing Corporation through Titan Global Technologies LLC. Please visit www.titan.com/legal for applicable terms and conditions and important disclosures.

Cryptocurrency advisory services are provided by Titan. Cryptocurrency trading is provided by Bakkt Crypto Solutions LLC ("Bakkt Crypto"). Bakkt Crypto is not a registered broker-dealer or a member of SIPC or FINRA. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Bakkt Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency execution services are provided by Bakkt Crypto (NMLS ID 1828849) through a software licensing agreement between Bakkt Crypto and Titan. Please ensure that you fully understand the risks involved before trading: bakkt.com/disclosures.

Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice.

Contact Titan at support@titan.com. 508 LaGuardia Place NY, NY 10012.