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Satoshi Nakamoto Net Worth, Biography & Wiki 2017
Satoshi Nakamoto has claimed to be born around 1975, and living in Japan. However, many speculate that this is not the case, and that Satoshi Nakamoto is actually a person or persons living in the USA and Europe. Therefore, the name itself presents a person, or a team, who invented the world’s most successful digital currency called bitcoin, its original reference implementation, Bitcoin Core, and its underlying technology, blockchain.
So just how loaded is Satoshi Nakamoto now? Sources state that Nakamoto has acquired a net worth over $760 million, as of early 2017 His wealth has been established through his involvement in bitcoin, ‘his’ holdings of which are estimated to be worth $450 million.
Satoshi Nakamoto Net Worth $760 Million
Although it is still to be confirmed who ‘Satoshi Nakamoto’ is, there have been numerous speculations and claims about his, or perhaps her or their, identity. Many people have made in-depth analysis of his online writings and his bitcoin paper, to search for linguistic clues. For instance, a computer scientist and cryptographer Nick Szabo, and Hall Finey, another developer and a pre-bitcoin cryptographic pioneer who was the first one to use bitcoin, were believed to be the actual Nakamoto. Then, Michael Clear, a graduate cryptography student at Dublin’s Trinity College, and Vili Lehdonvirta, a Finnish economic sociologist and former games developer, were also believed to stand behind this name. Martii Malmi, who developed bitcoin’s user interface, and Jed McCaleb, who created bitcoin exchange Mt. Gox and co-founded decentralized payment systems Ripple and Stellar, were also rumored to be the real Nakamoto. Some people pointed to computer scientists Donal O’Mahony and Michael Pierce, while others believed it was the Japanese mathematician Professor Shinichi Mochizuki. The most recent claims about Nakamoto’s identity have been that this person is a 64-year-old electrical engineer Dorian Satoshi Nakamoto from California, and an Australian entrepreneur named Craig Steven Wright. However, all of these potential Nakamotos have denied the claims that they stand behind the name of the alleged originator of the bitcoin concept. Therefore, the true identity of this mysterious person or persons, remains a mystery.
On the other side, what has been known to the public is that in 2008 Nakamoto released his white paper on a cryptography mailing list, explaining his idea of the bitcoin digital currency, as a peer-to-peer version of electronic cash, managing to solve the problem of money being copied by offering a vital foundation for bitcoin to grow in a legitimate manner. The following year, bitcoin was released as an open-source software. Shortly after, the first transaction took place between Nakamoto and Hal Finney. Since then, the software has become available for everyone to use, with the transactions being verified by network nodes managed by Bitcoin Core software, and recorded in a public distributed ledger called the blockchain. In order to keep the privacy of transactions, names of buyers and sellers are not revealed, only their wallet IDs. The currency is independent of any central authority, and hence the clients are able to use it to pay for things without a third-party broker, such as a bank or government. It is transferable with very low transaction fees. Bitcoins are ‘mined’, using computing power in a distributed network. They can be exchanged for other currencies, products and services.
The network is, however, relatively unregulated, which enables clients to buy or sell anything without easily tracing those transactions back to them. As such, it has become involved in various illegal activities, such as tax evasion, money laundering and drug trafficking.
In 2010 Nakamoto handed over the entire control of bitcoin network to developer Gavin Andersen and stepped out of the project, having amassed an incredible net worth. Reportedly, the public bitcoin transaction log shows that Nakamoto’s known addresses contain around one million bitcoins, which is estimated about $760 million today, as bitcoin represents the largest and most successful digital currency in the world.
Since leaving bitcoin, Nakamoto has, reportedly, moved on to other things. Today, six years after the powerful invention he made, his identity remains a mystery.