Where did Satoshi Nakamoto disappear to?

04.03.2022 |

About Satoshi Nakamoto

It will soon be twelve years since Satoshi Nakamoto decided to leave the bitcoin project and transfer the development to the community. Even during those couple of years, while the creator of the first cryptocurrency was actively involved in the development, users managed to build a lot of hypotheses about who he was, where he came from, and why he decided to create bitcoin.

Some said that Satoshi was one of the members of the Japanese Yakuza mafia, others that he was engaged in money laundering. There were also suggestions that Nakamoto was British, or even a whole group of people. However, the mystery has not yet been revealed, and it is unlikely that the true name of the creator of bitcoin will become known to the world. Nevertheless, we can trace the last days of Satoshi in the community, and understand the reasons why he decided to stop working on the project.

The calm before the storm

Almost from the first days of the publication of the bitcoin source code, other developers joined the project. At that time, no one was particularly interested in the real name of Satoshi Nakamoto, everyone was more interested in the principle of the proposed cryptocurrency, as well as the new prospects that decentralized finance opened up.

And so, at the end of 2010, dissatisfaction with the presence of Satoshi’s sole power began to flare up in the community. Many said the developer of the first cryptocurrency just slows down development, and some even gave him the title of dictator.

As discontent escalated, even the most ardent supporters of bitcoin began to say that sole management does not bring anything good. Serious battles began to flare up on the forums, although Nakamoto could still bring order to the discussion, if, of course, he appeared.

And although Satoshi gradually lost his authority, during the attacks on the bitcoin network, when several vulnerabilities were found in a row that could cost the future project, it was Nakamoto who promptly closed all the existing holes. Thus, the creator was able to regain his authority, but not for long…

Last message

And, although the talk about the transition from beta to release has been going on for almost six months, Nakamoto decided to continue posting the source code in beta status. And so, on December 13, 2010, version 0.3.19 appears. At the same time, Satoshi removes his name from the authors of the project, as well as from the list of developers on the official website.

After that, one of the first supporters of the project, Andresen, told about the transfer of the project to him. However, the new leader decided not to use sole authority, calling on bitcoin supporters to be more actively involved in the process of developing and maintaining the project. Although the communication between the first developers and Nakamoto has continued.

The “last day of Satoshi” can be considered April 26, 2011. On that day, Andresen received a letter in which Nakamoto asked to downplay his role in the project. Also, the new leader was given the task by “the parents of the cryptocurrency” to promote his project not as a pirated currency, which many media dubbed it, but as a free, decentralized open source project.

And Nakamoto’s last message was heard. Now bitcoin can be considered a reserve asset available anywhere in the world where there is Internet, as well as a prerequisite for the creation of a new financial system. Satoshi is remembered less and less, and not so many people know about other developers who contributed to the formation period, but these people were able to give the world a new system that brings people closer to true freedom.