The United States (US) Federal Bureau of Investigation (FBI) recently addressed a Freedom of Information Act (FOIA) request from journalist Dave Troy concerning Bitcoin creator Satoshi Nakamoto.
The FBI issued a "Glomar response," neither confirming nor denying whether it holds records about Nakamoto, hinting instead that Nakamoto might be a "third party individual" — a term often used for non-US persons.
This response is intriguing, given that Nakamoto is widely considered a pseudonym potentially representing a group or even a government entity.
Troy noted:
“I submitted as a broad general subject request, with full context, so it is the bureau and not me that is asserting that this is an individual…my intent is not to establish the identity behind the pseudonym, but rather to get what info the bureau may have on the subject. If that helps establish identity somehow, fine, but that's not my primary question.”
The FBI's designation of Nakamoto as an individual rather than a group raises speculation about whether the bureau possesses more information than it has disclosed.
Troy, who plans to appeal the response, noted that while his goal is not to unmask Nakamoto directly, the FBI's cryptic reply could indirectly reveal more through further inquiries.
This enigmatic response has reignited curiosity about the true identity of the person or entity behind Bitcoin.
Satoshi Nakamoto, the pseudonymous figure credited with inventing Bitcoin and authoring its foundational white paper in 2008, remains one of the most enduring mysteries in the cryptocurrency realm.
Despite widespread speculation and numerous theories, the true identity behind Nakamoto continues to evade discovery.
Troy's FOIA request is part of a broader effort by journalists, researchers, and enthusiasts to shed light on Nakamoto's identity.
However, the FBI's response has only added to the intrigue.
Some speculate that the bureau's handling of the request hints at undisclosed information that could illuminate Nakamoto's identity or their role in Bitcoin's early development.
The potential ramifications of uncovering Nakamoto's true identity are significant, with potential impacts on the cryptocurrency market, global financial systems, and even international relations.
A growing body of evidence suggests that what was once thought to be the work of a solitary genius may actually be the result of a collaborative effort.
A July 2023 report from Bitcoin.com News provides support for this theory, pointing to Nakamoto's use of both "we" and "I" in the Bitcoin white paper, along with variations in writing style across forum posts and emails.
These discrepancies, coupled with timestamps indicating activity across different time zones, imply that Nakamoto could represent a group of individuals with a diverse skill set, encompassing computer science, mathematics, and game theory.
Further analysis bolsters the notion of a collective, as the breadth of expertise attributed to Nakamoto seems too expansive for a single individual.
Nonetheless, conclusive evidence remains elusive, leaving the true identity of Bitcoin's creator shrouded in mystery.
One of the most discussed candidates for the identity of Satoshi Nakamoto is the late cyberpunk pioneer Hal Finney.
Finney, a renowned computer scientist who passed away in 2014 from Lou Gehrig's disease, is famous for receiving the first-ever Bitcoin transaction.
However, recent evidence presented by Casa cofounder Jameson Lopp in his blog post, casts doubt on Finney being Nakamoto.
Lopp concluded:
“It is better for Bitcoin that Satoshi not be a man, for men are fallible, fickle, and fragile. Satoshi is an idea; it is better that all who contribute to Bitcoin be an embodiment of that idea. As such, I pose to you that it is to the benefit of Bitcoin that we crush any myths of Satoshi's true identity.”
According to Troy, if Finney were indeed Nakamoto, there should be no issue with releasing his file.
A similar FOIA request by Motherboard’s Daniel Oberhaus, was sent to the FBI and Central Intelligence Agency (CIA) in 2018 yielded a comparable response, with both agencies neither confirming nor denying the existence of records related to the Bitcoin creator.
Oberhaus posited that if the FBI and CIA possess any information about Bitcoin's creator, they are remaining tight-lipped.
Last active online in 2014, the pseudonymous Satoshi Nakamoto has inspired numerous claims to their identity, with Australian computer scientist Craig Wright being one of the most prominent.
Wright, who has long asserted that he is Nakamoto, now faces potential perjury charges in the UK related to these claims.
In July, after nearly eight years of asserting his role as Bitcoin's creator, Wright issued a legal disclaimer on his website, stating that he was not Satoshi, not because he wanted to but because he was ordered to.
The enigmatic creator of Bitcoin is expected to lose the title of the largest Bitcoin holder by the end of this year, according to Eric Balchunas, a senior ETF analyst at Bloomberg.
This shift will likely be driven by Bitcoin exchange-traded funds (ETFs) in the US, which currently hold a combined total of 909,000 Bitcoins.
Notably, BlackRock's IBIT alone holds 347,767 Bitcoins, making it the third-largest holder.
Other significant holders include MicroStrategy, the US government, the Chinese government, and Robinhood.
However, the claim that Satoshi owns 1.1 million Bitcoins is contested.
BitMEX Research argues that there is limited evidence to support this figure, suggesting that a single dominant miner could realistically amass up to 700,000 Bitcoins.
Satoshi's vast Bitcoin holdings, which have remained untouched for over a decade, pose a potential risk to the cryptocurrency's stability.
Although it is improbable that Satoshi would suddenly sell off these assets, there is a possibility that the coins could be activated by a "dead man's switch.”
If Satoshi's heirs or associates were to liquidate these Bitcoins in large quantities, it could significantly impact the market.
The identity of Satoshi Nakamoto remains one of the most intriguing mysteries in the cryptocurrency world, fuelled by ongoing speculation and various theories.
Recent statements from the FBI have only intensified interest in the elusive creator of Bitcoin.
This has led to a proliferation of unfounded conspiracy theories, including claims that the CIA might be behind Nakamoto.
Despite extensive speculation, concrete details about Satoshi remain scarce.
The profile on the P2P Foundation platform listed a birthdate of 5 April 1975, but little else is known.
Nakamoto's last communication with Bitcoin developers in 2011 noted that they had "moved on to other things."
Bitcoin core developer Mike Hearn previously shared final instructions from Nakamoto via email, discussing the technical challenges of implementing Bitcoin functionalities to manage spam using BTC as collateral.
Nakamoto's final message, reflecting on their departure, was:
“I had a few other things on my mind (as always). [...] I've moved on to other things. It's in good hands with Gavin and everyone.”
The true identity of Satoshi Nakamoto remains shrouded in mystery, leaving us to question whether entities like the FBI, CIA, or others possess knowledge of this enigmatic figure.
If an individual or group were to emerge claiming to be the creator of Bitcoin, one might wonder why they have remained silent for so long and what might prompt them to come forward now.
As such, the mystery surrounding Nakamoto's identity will continue to be a subject of significant interest and speculation within the cryptocurrency community.
There may be countless impostors, but there can only be one Satoshi Nakamoto: individual or group.
Since Nakamoto has moved on to other things, so should we.
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