Australian businessman says he created Bitcoin
On Monday, Craig Wright released evidence purporting to prove that he is "Satoshi Nakamoto," the pseudonymous inventor of digital currency Bitcoin. Wright, an Australian computer scientist and entrepreneur, told BBC News and The Economist that he was coming forward reluctantly. "I have not done this because it is what I wanted," he told BBC News. "It's not because of my choice." Wired and Gizmodo claimed Wright was the Bitcoin founder in December, though there has been a history of mispointed fingers: A March 2014 report in Newsweek wrongly identified Dorian S. Nakamoto, a California physicist, as the Bitcoin founder.
Along with the BBC and The Economist, Wright shared his evidence beforehand with GQ. It includes digital coins that only Satoshi Nakamoto would have, including "blocks used to send 10 Bitcoins to Hal Finney in January [2009] as the first Bitcoin transaction," Wright said, referring to a renowned cryptographer he says helped turn Bitcoin into reality. "I was the main part of it, but other people helped me," he added. BBC News spoke with Bitcoin experts who believe that Wright really is Nakamoto, but The Economist is a little skeptical.
"Our conclusion is that he could well be Mr. Nakamoto, but that nagging questions remain," The Economist said. "In fact, it may never be possible to prove beyond reasonable doubt who really created Bitcoin. Whether people, particularly Bitcoin cognoscenti, actually believe Mr. Wright will depend greatly on what he does next, after going public." Wright did tell The Economist where he came up with the name, citing the 17th century Japanese philosopher and merchant Tomonaga Nakamoto, a free trade proponent, though he wouldn't reveal where "Satoshi" came from ("Some things should remain secret," Wright said).
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The Economist also points out that the Bitcoin community is enmeshed in a big debate about the direction the cryptocurrency should take, and that if Wright is accepted as Nakamoto, "his return from obscurity would most certainly change the dynamics of the debate about Bitcoin’s future direction." You can watch Wright talk to BBC News below. Peter Weber
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Today's political cartoons - March 16, 2024
Cartoons Saturday's cartoons - pointed commentary, Haiti in trouble, and more
By The Week US Published
-
5 hilarious cartoons about the RNC's MAGA takeover
Cartoons Artists take on RNC funding, Lara Trump, and more
By The Week US Published
-
Trump's presidential run: a bad bet for Republicans?
Talking Point The GOP is taking a 'big gamble' on former president's 2024 White House bid
By The Week UK Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published
-
4-day workweek gets boost from UK study
Speed Read Following a six-month trial, the majority of participating British companies are still using the truncated schedule
By Peter Weber, The Week US Published
-
US sues to block Kroger-Albertsons merger
Speed Read The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
By Peter Weber, The Week US Published
-
Nvidia sees historic stock rise on AI chips success
Speed Read U.S. chipmaker Nvidia achieved the biggest one-day increase in value of any company in history
By Peter Weber, The Week US Published
-
New York may seize Trump's assets for $450M penalty
Speed Read The former president likely owes $600 million from two civil judgments in New York
By Peter Weber, The Week US Published
-
Capital One to buy Discover for $35B
Speed Read The deal, if cleared by regulators, would create the biggest credit card lender in the country
By Peter Weber, The Week US Published
-
Sports Illustrated publisher fires CEO after allegedly getting caught using AI-generated articles
Speed Read The CEO is one of several executives to be fired in the wake of the scandal
By Justin Klawans, The Week US Published