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WHO IS SATOSHI NAKAMOTO?
Satoshi Nakamoto could be an individual or a group of people (this
book refers to Nakamoto as “they”). They have not publicly released
their true identity. Some
believed Nakamoto mined
approximately 1 million
Bitcoin and, in 2010 handed
over control of the network.
Except for a few cryptic
messages, they haven’t been
heard from since. A number of
individuals have claimed they
are Nakamoto, but no one has
been able to prove it. No one knows who Nakamoto truly is—or if they are
even a real person.
As technology journalist Brian Patrick Eha said, “Bitcoin looks like
money’s dream of itself.”
DIGITAL CURRENCY: A PROBLEM AND A SOLUTION
To create Bitcoin, Nakamoto had to overcome an enormous challenge:
anything on the internet can be easily copied. Money has value, in part,
because its supply is limited. If all the gold in the world was gathered
together, it would make a cube less than 75 feet (23 m) on each side.
If someone were able to cheaply create gold in a laboratory, though, it
would quickly lose value.
11 BITCOIN ANd BLOCKCHAIN
