Aussie Computer Scientist Dr. Craig Wright Claims He Created Bitcoin

Bitcoin is the first crytocurrency that made a lot of headlines just a few years back when its price shot from a few dollars to more than a thousand bucks. Those investors who had bought bitcoins when they were trading for a few dollars made a fortune when the price crossed $1,000 level. After that the crash came just like any other market when the prices move too fast. Bitcoin gained in popularity so much they even the World Economic Forum featured bitcoin in its annual meeting. Bitcoin has been touted as the first currency that is truly international as it is not being controlled by any government or a central bank. If you don’t know what is bitcoin and how they work, you should watch these video tutorials that explain what is bitcoin, how to create them and how to buy/sell them.

The man who invented bitcoin has always been elusive. For a long time it has been a mystery who created bitcoin. Bitcoin was invented by Satoshi Nakamoto, who published the invention on 31 October 2008 in a research paper called “Bitcoin: A Peer-to-Peer Electronic Cash System”.  It was implemented as open source code and released in January 2009. Bitcoin is often called the first cryptocurrency although prior systems existed.  Bitcoin is more correctly described as the first decentralized digital currency.

One of the first supporters, adopters, contributor to bitcoin and receiver of the first bitcoin transaction was programmer Hal Finney. Finney downloaded the bitcoin software the day it was released, and received 10 bitcoins from Nakamoto in the world’s first bitcoin transaction.

Who was this Japanese guy Satoshi Nakamoto. He was always elusive and never gave any interview to the press or media. It was claimed that he is a shy guy who doesn’t want to reveal himself. But the mystery has been solved. It seems that Australian computer scientist Dr. Craig Wright was this elusive Satoshi Nakamoto.

Australian computer scientist Craig Steven Wright has publicly identified himself as “Satoshi Nakamoto,” founder of the widely-used cryptocurrency Bitcoin.

Wright has told three media organizations — the BBC, the Economist and GQ — that he is the father of Bitcoin. The computer scientist has also published a blog post that he says includes cryptographic proof for the claim.

Bitcoin was created in 2009, but the identity of its founder has remained shrouded in secrecy. The creator used the name “Satoshi Nakamoto,” but many experts have assumed the moniker was a pseudonym.

If confirmed, the revelation would end a yearslong debate around the digital currency’s mysterious founder, whom many experts say owns a sizable quantity of early bitcoins.

The person or persons going by the name Satoshi Nakamoto stopped communication with the bitcoin community in the spring of 2011. There have since been numerous efforts to try to identify the founder, but none had come up with conclusive evidence.

Right now bitcoin is trading at $443.96. In the last few years, bitcoin showed a lot of volatility as said above.

Now there are still some discrepancies that Mr. Craig Wright has not answered. If Mr Wright can prove that he is in possession of the private key corresponding to the bitcoin address of the miner of block 9, this is strong evidence that he is indeed Mr Nakamoto. His case would be stronger if he performed the same cryptographic trick with keys linked to earlier blocks, which must have been mined by the founder—or, even better, moved some of the bitcoins which were awarded when validating these blocks.