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Who is Bitcoin Founder | Who is Satoshi Nakamoto ?

Chapter 5 –Who is Bitcoin Founder?

What’s in a name?

The name Satoshi Nakamoto is very unique. Repeated search on the “name” only leads to Bitcoin’s Satoshi Nakamoto and no one else. Google either pulls the first name “Satoshi” or the last name “Nakamoto” but not the complete name for any other person. It is clear that it is not a name of an individual. It is a Pseudonym created by adding a first and last names of two different individuals or characters.


Satoshi is the first name for many people from Japan. Satoshi is also the name of a animation character according to Wikipedia.

Ash Ketchum, known as Satoshi (?) in Japan, is a fictional character in the Pokmon franchise owned by Nintendo. He is the main protagonistof the Pokmon anime and manga series, as well as on various merchandise related to the franchise.


Time Stamp

In an email conversation with James Donald at cryptography mailing list dated Mon 17 November 2008 Satoshi reveals he is working on Bitcoin concept from one and half years. It means he was working on Bitcoin from June 2007. Satoshi also said the same thing in one of the replies on bitcoin forum.

Re: Bitcoin P2P e-cash paper Satoshi Nakamoto Mon, 17 Nov 2008 13:33:04 -0800

I believe I’ve worked through all those little details over the last year and a half while coding it, and there were a lot of them.The functional details are not covered in the paper, but the sourcecode is coming soon. I sent you the main files.(available by request at the moment, full release soon)

Satoshi Nakamoto

Quote from: laszlo on 2010-06-18, 02:50:31

“How long have you been working on this design Satoshi? It seems very well thought out, not the kind of thing you just sit down and code up without doing a lot of brainstorming and discussion on it first. Everyone has the obvious questions looking for holes in it but it is holding up well”

Since 2007. At some point I became convinced there was a way to do this without any trust required at all and couldn’t resist to keep thinking about it. Much more of the work was designing than coding.

Fortunately, so far all the issues raised have been things I previously considered and planned for.


What’s in the Title?

Most of us has seen the infamous title of the white paper Bitcoin: A Peer-to-Peer Electronic Cash Systemdated 31 October 2008.

On 22 August 2008, Satoshi sent an email to Wei Dai with the first draft of the paper which is not yet released to public domain.

This email conversation between Satoshi and Wei Dai is posted at gwern’s website

From: “Satoshi Nakamoto” <> Sent: Friday, August 22, 2008 4:38 PM To: “Wei Dai” <> Cc: “Satoshi Nakamoto” <> Subject: Citation of your b-money page

I was very interested to read your b-money page. I’m getting ready to release a paper that expands on your ideas into a complete working system. Adam Back ( noticed the similarities and pointed me to your site.

I need to find out the year of publication of your b-money page for the citation in my paper. It’ll look like:

[1] W. Dai, “b-money,”, (2006?).

You can download a pre-release draft at Feel free to forward it to anyone else you think would be interested.

Title: Electronic Cash Without a Trusted Third Party

Abstract: A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without the burdens of going through a financial institution. Digital signatures offer part of the solution, but the main benefits are lost if a trusted party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as honest nodes control the most CPU power on the network, they can generate the longest chain and outpace any attackers. The network itself requires minimal structure. Messages are broadcasted on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.

The title of the paper wasElectronic Cash Without a Trusted Third Party

This title is the only unique resource to identify Satoshi Nakamoto who was in disguise till now behind the Pseudonym and Tor Network.

I searched for the “Title” on Google and guess what? BINGO !!!!! I HIT THE BIT GOLD :-)

The title leads toa paper at International Association for Cryptologic Research dated 5th July 2007 (Does the date ring any bells?).It was the same time Satoshi said he was working on bitcoin (i.e) June 2007.

Download Paper –

The title of the paper at IACR is “Unlinkable Divisible Digital Cash without Trusted Third Party”. This paper has many similarities to Bitcoin.

More than the paper, I was very amused by looking at the citations of the paper.

Citations listed on the document are couple of Japanese cryptographers.

Unlinkable Divisible Electronic Cash – Toru Nakanishi and Yuji Sugiyama

Universal electronic cash – by Tatsuaki Okamoto, Kazuo Ohta- 1991

An efficient on-line electronic cash with unlinkable exact payments – Mitsuaki Shiota, Yuji Sugiyama (2004)

During my research, I never came across these Japanese cryptographers and I bet many of you either. The names Nakanishi and Okamoto ringed many bells.

The Pseudonym is cracked now.

Satoshi was very much inspired by these two cryptographers as his Bitcoin is based on these two papers at the start and he developed it further. Satoshi named his last name NakaMoto by taking “Naka” from Nakanishi and “Moto” from Okamoto

He either picked Satoshi from the famous Pokemon character or from the name Toru Nakanishiand added “Sa” to the start by making it Satoshi.

The Bitcoin Connection

Many of the concepts mentioned in the paper draw similarities to Bitcoin but it looks like a pre-draft to Original Bitcoin white paper. This paper was a start and Satoshi further developed it with Peer-to-Peer connections and Hashcash.

Page 2

Namely, we propose a scheme that supports efficient protocols and coin storage,divisibility, anonymity, unlinkability and protection against double-spending, all without theneed for a trusted third party.

Page 3

Anonymity. The payer who didnt violate the protocol cant be identified from the informationsent during payment.

Unlinkability. Its infeasible to link any two payments executed by the same user (even withoutlearning the payers identity), unless the payments lead to double-spending.

Unforgeability. Neither a coin nor a transcript of a payment of an honest user can be forged.

Exculpability. A user can be identified as a double-spender only if she really is guilty. Additionally, even if a user was caught double-spending, she is only responsible for payments she indeed double-spent (i.e., she cannot be framed into making other payments).

Divisibility. User can perform any payment worth no more than the coins total value (as longas it is a multiplicity of the minimal value subdivided from the coin).

No double-spending. All double-spending attempts will be detected and the user who triesto spend more than the coins total value will be identified.

Who are the authors of the paper?

Unlinkable Divisible Digital Cash without Trusted Third Party Pawel Pszona and Grzegorz Stachowiak University of Wroclaw, Poland July 5, 2007

The paper was submitted by Pawel Pszona M.Sc student at University of Wroclaw, Poland. His Professor was Grzegorz Stachowiak.

A quick search on professor Grzegorz leads to his page at University

Dr Grzegorz Stachowiak

E-mail: WWW: Pokj: 312 Telefon: 71 375-7826

Office: Institute of Computer Science University of Wroclaw ul. Joliot-Curie 15 50-383 Wroclaw, Poland phone: (+48+71)-375-7826 fax: (+48+71)-375-7801 room: 312

The paper was written by Pawel and Professor was his Guide. I can conclude that Pawel Pszona could be our Satoshi Nakamoto based on the writing and research effort that was taken to develop Bitcoin. I am trying to contact Pawel to verify.


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