Who is Satoshi Nakamoto? My quest to unmask Bitcoin's creator

nytimes.com

410 points by jfirebaugh a day ago


https://archive.is/iRBng

gyomu - 2 hours ago

Simple question for anyone who’s familiar with this world of journalism: how does the author and the NYTimes cope with the fact that making such claims paint a huge target on the person they claim to have “unmasked”?

Satoshi’s wallets are worth hundreds of millions of dollars, and there have been kidnappings/torture/murders for much less than that.

Do they just not care about the ethical implications?

And really, for what? What is gained by “unmasking” Satoshi other than satisfying one’s curiosity? There is no argument to be made there for the greater public good or anything like that.

acjohnson55 - 28 minutes ago

I think there's a pretty good chance Adam Back is Satoshi, but I don't think this is a great article. Perhaps he's rendering a careful scientific process in a way that makes for a readable narrative, but as written, it sounds like a lot of gut feel and confirmation bias.

The biggest new contribution to the Satoshi question seems to be ad hoc stylometry. To have faith in his methodology, he should be testing it on identitying other people. If he were to show me that a repeatable methodology that doesn't require hand tuning can identify other people with low error rate, and it said Back=Satoshi, that would be much more convincing.

Like so much tech writing done by non engineers, there are many places where mundane things are made to sound remarkable (e.g. Black's thesis used C++, the "heated debate").

Lerc - 9 hours ago

I found this amusing.

>P.G.P., a free encryption program used by antinuclear activists and human rights groups to shield their files and emails from government surveillance.

I find it fascinating to see how the users of a program change, based on how a reporter wants to build or diminish.

At least it's going in a positive direction today.

danso - 11 hours ago

Pretty compelling story. Not necessarily for its revelations, but for the fact that John Carreyrou and the NYT decided to publish it at all. If it were by anyone else, I would have stopped reading after the first thousand words of meandering narrative, but Carreyrou is staking his massive and impeccable investigative journalistic reputation on this mountain of circumstantial evidence and statistical analysis. Him torching his reputation (especially with Elizabeth Holmes fighting hard for a pardon/clemency!) would be as interesting as a story as actually finding Satoshi's real identity.

The evidence is good. What was more interesting to me is the section where he explains how he eliminated all the other asserted and likely candidates. Since the story is already a very long read, I imagine much of this section got left out. So some of the reasons for eliminations are too brief to be convincing on their own. For example:

> What about other leading Satoshi suspects, I wondered? Were there any who fit the Satoshi profile better than Mr. Back? A 2015 article in this newspaper put forward the thesis that Satoshi was Nick Szabo, an American computer scientist of Hungarian descent who proposed a Bitcoin-like idea called “bit gold” in 1998. Mr. Szabo remained at the top of many people’s lists until recently, but a heated debate that played out on X about a proposed update to the Bitcoin Core software exposed his ignorance of basic technical aspects of Bitcoin.

A 2015 article in this newspaper — Decoding the Enigma of Satoshi Nakamoto and the Birth of Bitcoin, by Nathaniel Popper [0]

[Szabo] proposed a Bitcoin-like idea called “bit gold” in 1998 — Szabo's post on his Blogger site [1]

but a heated debate that played out on X about a proposed update to the Bitcoin Core software exposed his ignorance — links to a Sept 29, 2025 tweet by Adam Back replying to Szabo, who had tweeted:

> Good info thanks. Follow-up questions: (1) to what extent is such an OP_RETURN-delete-switch feasible in practice? (I know it is feasible in theory, but there are many details of core that I am not familiar with). (2) has such a thing been seriously proposed or pursued as part of Core's roadmap?

exposed [Szabo's] ignorance of basic technical aspects of Bitcoin — links to another reply tweet by Back in October 2025 [3]:

> Nick, you're actually wrong because there is a unified weight resource. eg byte undiscounted chain space reduces by 4 bytes segwit discounted weight. no need for insults - people who are rational here are just talking about technical and risk tradeoffs like rational humans.

Szabo's tweet was: "Another coretard who thinks their followers are mind-numbingly stupid."

----

Can someone explain why this relatively recent tweet fight is convincing evidence that Szabo is too ignorant to have been behind Bitcoin? I know he went silent for a bit when Bitcoin first got big, but he hadn't revealed his ostensibly overwhelming ignorance until a few months ago?

[0] https://www.nytimes.com/2015/05/17/business/decoding-the-eni...

[1] https://unenumerated.blogspot.com/2005/12/bit-gold.html

[2] https://x.com/adam3us/status/1972888761257415129

[3] https://x.com/adam3us/status/1981329274721149396

raphlinus - 21 hours ago

I found this article about as compelling as all the other attempts at identifying him. Half of the cypherpunks (I was pretty active) had the same set of interests in public key cryptography, libertarianism, anonymity, criticism of copyright, and predecessor systems like Chaum's ecash; we talked about those in virtually every meeting.

The most compelling evidence is Adam Back's body language, as subjectively observed by a reporter who is clearly in love with his own story. The stylometry also struck me as a form of p-hacking—keep re-rolling the methodology until you get the answer you want.

It's entirely possible Adam is Satoshi, but in my opinion this article moves us no closer to knowing whether that's true or not. He's been on everybody's top 5 list for years, and this article provides no actual evidence that hasn't been seen before.

connorboyle - 2 hours ago

> And Mr. Back’s thesis project focused on C++ — the same programming language Satoshi used to code the first version of the Bitcoin software.

I know the author isn't claiming this is definitive evidence, but I think it's so comically weak it is probably not worth mentioning at all.

diiaann - 6 minutes ago

After reading the article, my first thought was it is both Finney and Back posting under Satoshi. Others may have been involved too but not necessarily posting.

olalonde - 5 hours ago

All you need to know about this "quest": https://xcancel.com/austinhill/status/2041986130871251141

Plus, the most obvious reason that Adam Back is not Satoshi is that he'd absolutely take credit for Bitcoin if he could. And he would have put an end to Craig Wright's legal circus. The most plausible explanation is that Satoshi is either dead or incapacitated.

kaladin-jasnah - a day ago

> I’d learned enough by then to know that P.G.P. relies on public-key cryptography.

> So does Bitcoin. A Bitcoin user has two keys: a public key, from which an address is derived that acts as a digital safe deposit box; and a private key, which is the secret combination used to unlock that box and spend the coins it contains.

> How interesting, I thought, that Mr. Back’s grad-school hobby involved the same cryptographic technique that Satoshi had repurposed.

I read up to here, but I wasn't convinced that this is the revelation that the author claims. To my knowledge, asymmetric cryptography is widely used. I have no opinions on the rest of the article, though.

vlatoshi - 4 hours ago

Adam fits better as someone Satoshi respected, not who Satoshi was... Bitcoin explicitly cites hashcash. If Adam was so careful, why would he name himself in the paper; tongue-in-cheek? hide in plain sight? I don't buy it...

Hal Finney is the strongest alternative, but even there, I’m not fully convinced. Hal had the technical profile, mined early, and received the first transaction. But he also feels almost too obvious. I believe, just as Adam Back's hashcash, Hal's RPOW was a precursor.

I lean toward Len Sassaman, who was deeply embedded in the exact world Satoshi seemed to come from: remailers, anonymity systems, OpenPGP, and privacy-first engineering. Same things that got his conversations with Adam and Hal going... Adam here is probably just protecting his friend's legacy

hardwaregeek - 9 hours ago

A fun counter factual: try “proving” that famous scientists are their collaborators based on this methodology. Obviously Hardy and Littlewood are the same person. They’re both British mathematicians who use analysis and number theory and have similar sensibilities in politics and math.

nitwit005 - 7 hours ago

Looking at some of the linked examples, I did not feel convinced at the style similarity. For example:

> In the spirit of building something in the public domain, Mr. Back and Satoshi also both created internet mailing lists dedicated to their creations — the Hashcash list and the Bitcoin-dev list — where they posted software updates listing new features and bug fixes in a format and style that looked strikingly similar.

That paragraph links two release notes: https://www.freelists.org/post/hashcash/hashcash113-released... https://web.archive.org/web/20130401141714/http://sourceforg...

They do have a similar "release notes rendered with Markdown" feel, but the actual text has some obvious capitalization and tone differences.

tavavex - 3 hours ago

Can I just ask why people are so fixated on revealing Satoshi's identity? This article phrases it as some pure, innocent and almost academic pursuit, driven by curiosity and the mystique itself. But the amount of effort spent on trying to find Satoshi is immense. He must be the internet's most doxxed person by now. Is it just because of his wealth? Is someone trying to exact revenge on him? Or is he wanted by the authorities of some country? Why is finding him so important?

doublextremevil - 9 hours ago

Satoshi supported big blocks in his writings and empowered the pro-big block Gavin when he disappeared. Adam is a well known supporter of small blocks, ultimately the "winning" side of the debate. They are not the same person.

dnnehgf - 7 hours ago

satoshi: https://bitcointalk.org/index.php?action=profile;u=3;sa=show...

adam back: https://bitcointalk.org/index.php?action=profile;u=101601;sa...

page through each of those profiles and search for the following strings:

")." "(i" "(e" "nor"

you find:

1. adam back is constantly writing full sentences in parentheses with a period standing outside the end parenthesis. so, for example: "To review it will be clearer if you state your assumptions, and claimed benefits, and why you think those benefits hold. (Bear in mind if input assumptions are theoretical and known to not hold in practice, while that can be fine for theoretical results, it will be difficult to use the resulting conclusions in a real system)."

that is non-standard, and satoshi never does it. when he (very rarely) uses parentheses for full sentences he either (a) (in a few cases) does not use a period at all (which is also non-standard), or (b) (in a single case) he puts it on the inside of the parentheses. back can barely get through a single long post without a full-sentence parenthesis. satoshi very rarely uses a full-sentence parenthesis.

2. back uses "(ie" and "(eg" very often. satoshi never uses these.

3. satoshi never uses "nor." back uses it very often.

voldacar - 2 hours ago

The common linguistic quirks are interesting and extremely convincing at first glance, but the article doesn't investigate C++ coding style, which as others have mentioned, seems quite different between Back and Satoshi. And Satoshi didn't believe the blocksize should be set in stone, the notion that he just casually changed his mind on that isn't impossible but deserves a closer look than the article gives it.

djao - 18 hours ago

The refusal to provide email metadata is the most damning evidence. Adam Back clearly has the emails; he is the one who provided them in the first place during the previous court case. Everyone knows he has the emails. If Adam Back and Satoshi are two different people, the metadata should be exculpatory, and easy to share. There's literally no reason whatsoever to hide the metadata unless he is the one.

In a court of law, self-disclosure of inculpatory information cannot be compelled, so this analysis does not pass muster in a court of law. The court of public opinion, however, is quite different.

ex-aws-dude - 3 hours ago

Its a good story but it sorta seems like the author decided on Adam Back then was working backwards to prove it by the end

niobe - 6 hours ago

Steeped in confirmation bias.. the whole article - and apparently author's methods - are written from the point of view of trying to prove that Satoshi is Adam Back. This cannot be trusted, no matter how many times Back is mentioned in a single article

int32_64 - 17 hours ago

If you've ever seen Back's twitter you would know he's not Satoshi. I'm still firmly in the Finney camp.

Every couple years one of these articles shows up focusing on one of the core Satoshi suspects, at least do a Wei Dai one next time.

ChaitanyaSai - 3 hours ago

Here's my armchair two cents: Whoever it is, has to be British. The language is unmistakeably British or Commonwealth. It's likely him. I'd wager if there was a polymarket bet. But I also feel for him. Does this make him a target for both half-wit criminials and rogue nation states?

Syzygies - 4 hours ago

That's funny. My paper on digital timestamping is one of eight references in the original bitcoin paper. You'd think if anyone was serious about unmasking her they would have asked me.

WalterBright - 9 hours ago

My dorm room was next door to Hal Finney. He was a freakin genius at every intellectual endeavor he bothered to try. My fellow students and I were in awe of him.

But you had to get to know him to realize what he was. To most people, he was just a regular guy, easy going, friendly, always willing to help.

He was also a libertarian, and the concept of bitcoin must have been very appealing to him.

And inventing "Satoshi" as the front man is just the prankish thing he'd do, as he had quite a sense of humor.

I regret not getting to know him better, though I don't think he found me very interesting.

My money's on Hal.

iamankur - 28 minutes ago

I think the NSA is Satoshi Nakamoto. That makes most sense.

tgtweak - 4 hours ago

Has Back not produced any c++ code from his thesis or days in University? That would be more useful for satoshi-profiling than his written prose, I would think.

bnjemian - 12 hours ago

It's funny because the author notes a prior attempt to uncover Satoshi's identity and giving up because an implied lack of technical depth.

I guess this time they were undaunted. Perhaps they received an AI assist and felt validated by AI sycophancy.

Much of the technical evidence cited is weak (e.g. strong knowledge of public-key cryptography, both used C++, etc.). Still, the (somewhat lazy) forensic linguistics is interesting.

hombre_fatal - 3 hours ago

The simplest filter to exclude potential Satoshi candidates is to read Satoshi's early posts discussing bitcoin which never seems to come up in these convos.

He had a calm, cool, consistent, professional demeanor. Always worlds different than the people people claim him to be.

You'd have to believe these public figures were playing 4D chess where they invented a persona and spent a couple years impeccably roleplaying it with no mistakes only to abandon it.

Aside from it being incredibly difficult, unlikely, and premeditated to do that, you can read the posts of Szabo et al and see they literally don't have it in them.

Meanwhile, I'm thinking of that Show HN 10 years ago that deanonymized all of our HN alt accounts with a basic trigram comparison or whatever it was, even alt accounts with three short posts.

jmkni - 21 hours ago

I can’t get past the fact that Hal Finney lived around the corner from someone called “ Dorian Satoshi Nakamoto”

I know coincidences happen but that’s one hell of a coincidence

rurban - 2 hours ago

Aba wouldn't have said: "Send X bitcoins to my priority hotline at this IP and I’ll read the message personally."

Because aba knew about how email worked, unlike Satoshi. A hotline is not at in IP, it is at a domain with an MX record. Satoshi was a Windows guy.

opengrass - 9 hours ago

Congrats to the author citing a troll on a Vistomail account anyone could re-register when AnonymousSpeech was around.

gridder - 9 hours ago

Barely Sociable already explained it 5 years ago:

https://youtu.be/XfcvX0P1b5g

sambaumann - 16 hours ago

This article is convincing, but ultimately still no true evidence, it's all circumstantial.

After reading this, Back does seem like a pretty likely candidate, but maybe you could run the same kind of investigation on every other candidate and find similar matches. The filters they used for the text analysis did seem pretty arbitrary to match up with Back's language

leroy_masochist - 18 hours ago

Regardless of whether Carreyrou is right, Mr. Back's life has now changed massively. The article points out that the market value of Satoshi's wallet is north of $100bn. Time to invest in some personal security.

gxd - 4 hours ago

Believe it or not, but the answer is revealed in this videogame: https://store.steampowered.com/app/3040110/Outsider/

Spoiler: it's not Adam Back!

manarth - a day ago

https://archive.is/iRBng

gorfian_robot - 9 hours ago

this and the recent banksy 'umasking' by major news outlets is sad in our era of huge US governmental crimes and coverups.

hnsdev - a day ago

Particularly I believe that Satoshi Nakamoto is a nation-state who created Bitcoin to bypass sanctions. Simple as that.

BobbyTables2 - 8 hours ago

Would be darkly hilarious if Santoshi lost his wallet long ago…

I’ve certainly lost a lot of the small scripts and utilities I wrote long ago. Can’t remember any usernames, much less passwords, from 20 years ago…

johnnienaked - 34 minutes ago

I thought bitcoin was cool for about 6 months back in 2014, and read everything I could about it. For the life of me I simply can't understand how people are still so interested in it or who created it.

dools - 8 hours ago

This is the most compelling "who is Satoshi?" post I've found:

https://bitcointalk.org/index.php?topic=628344.msg48198887#m...

"I contend that James Simons put the team together that made up Satoshi Nakamoto and that Nick Szabo was the main public-facing voice behind the nym."

sho_hn - 8 hours ago

This was a fun article, but also an oddball collection of strong and weak claims.

Some of the "isn't it interesting ..." type coincidences would, as people on this forum would know, be commonplace among the subculture or even just technologists, and often lack the comparison to the overall Cypherpunk corpus - for example: no, studying public-key cryptography in grad school certainly isn't a high-signal differentiating tell for Satoshi-ness.

For some he does provide that though, and they're certainly compelling.

What I like best about the Back attribution is that it totally makes sense in context of my operating model of humans and passes the Occam's Razor test: Still actively involved, interested in the governance, interested in acclaim/prestige, built up wealth masking his other wealth, etc. Ego and "Tell me you're Satoshi without telling me you're Satoshi" written all over it.

malbs - 7 hours ago

When did Satoshi make an appearance in 2015? I couldn't find the spot in the article where the author cites it. Everywhere I've read it states his last interactions were 2010, and his wallet hasn't been touched since then either.

Based on everything I've read, I think Satoshi is Len Sassaman

vintermann - a day ago

You can't sell books or articles from saying something that's been said before, but Nick Szabo remains the best Satoshi candidate by a mile.

He had developed the system closest to Bitcoin, he was actively seeking collaborators to turn his system into a practical offering briefly before Bitcoin was released, and he was the only cipherpunk who conspicuously said very little when the system he'd been trying to realize for a decade suddenly appeared. Satoshi credited all his inspirations except for the most obvious one, Szabo's. No one in the cipherpunks mailing list thought any of this was odd, probably because it was obvious to them who Satoshi was.

In contrast to a certain convicted Australian fraudster who got caught trying to backdate his statements, Szabo got caught trying to front-date them. His politics are a match to Satoshi (tbf. true of all the cipherpunks), his coding style matches Satoshi, his writing style matches Satoshi if you disable the British English spellchecker. For good measure his initials match Satoshi.

I view articles like these as a good test of which investigative journalists are hacks indifferent to the truth - except for that Wired guy, who I think knows better but thinks it's righteous to lie a little to protect Satoshi's anonymity.

throwaway85825 - 8 hours ago

Satoshi is the guy with the PhD in distributed computing who took a sabbatical during which bitcoin was published.

suzzer99 - 4 hours ago

> Ancestors of today’s message boards, mailing lists were large group emails in old typewriter font that subscribers received in their inbox. To communicate, respondents replied-all.

There was no HTML email in the early 90s. The font was the display font of whatever you read it on. Sheesh NYT.

sergiotapia - an hour ago

john mcafee already unmasked who it is years ago.

"Now, there are only two of the accused who were British and only one of those has two spaces in every one of his papers. Figure it out people. It'll take you 15 minutes."

british guy.

the paper has two spaces after periods, and only one of these two british guys has two spaces after each period.

seems pretty conclusive.

it's Adam Back

n0um3n4 - 19 hours ago

Len Sassaman with contributions from others through time. We already know that.

DeathArrow - an hour ago

What if Satoshi Nakamoto, whoever he is, lost the key to his wallet?

I've read somewhere that there are some very big bitcoin wallets nobody has touched since long ago. So it's safe to assume the keys are gone.

Does it matter if a large proportion of bitcoins are gone from the network?

nullc - 5 hours ago

Bad science, -- article contains a litany of points that are true for many other people (myself)-- and a number of the bits of I have personal experience with are just flatly untrue or misleading, e.g. citing Back's name at the top of a paper I coauthored as evidence of his importance to it, -- the names were alphabetic. Not that it was an important point, but I think failing to notice the names being alphabetic and including it speaks to the bar being held to the other 'evidence' there.

That said-- I guess credit goes for naming someone who is essentially credible in the sense that they had the relevant interests and aptitudes, a lot of the journalists writing on this stuff have picked ludicrous names out of a hat. But so did a lot of other people. And unfortunately, the real person was clearly trying to obscure their identity and so they easily could have been adding chaff similarity to other people. (which may explain why there are good matches with multiple of the highest visibility ecash authors). For the few journalists that don't finger absolutely absurd people they keep going over and over again to some of the most visible people from the cypherpunks community, but in reality it may well have been a lurker that never posted or only posted pseudonymously.

Probably the research on this stuff tends to not be very good because people who would do good work realize that it's a pointless effort and care that incorrectly implicating them causes harm by putting their safety at risk... and so they don't publish.

In any case I would be extremely surprised if it were so-- I've known Adam for a long time, and he's been consistently straightforward and guileless. When he came into Bitcoin he had a number of significant misunderstandings that Satoshi couldn't have had, (unless Bitcoin was developed multiple people, of course). To have consistently played dumb like that would be entirely inconsistent with the person I know, and perhaps outside of his capability.

Fundamentally the article ignores the base rate and the correlations... as in yes this or that thing is true about adam and satoshi, but it's also true of a large number of odd people who have the other prerequisites. Normal people don't talk about pre-images but cryptographers do. When you use correlated characteristics you overweight the underlying common factor. You also basically hand Satoshi a win on hiding if he was in fact copying visible characteristics from other people.

In any case, at least I haven't yet heard rumors that this was a paid piece by someone with an agenda ... sad that I can't say that about all NYT writing.

Aside, the comments about Adam's body language and emphatic denial: I can tell you what that is straight up: He's afraid of being harmed because of these accusations and he's afraid of being criticized for not denying it if he doesn't do so directly and clearly enough doubly so because some actual Satoshi fakers have accused him of being one himself, and tried to dismiss the respect Adam has earned as an unearned product of being suspected of being Satoshi. This is absolutely a witch-test where you're dammed one way or the other: In the HBO documentary, Peter Todd gave a cutesy demurring response which was the polar opposite of Adam's and in that case the program used that as evidence of the same. That kind of subjective judgement is just a coat-rack to hang your preconceived notions on.

kinakomochidayo - 5 hours ago

Why are journalists giving this guy exposure?

He doesn’t write anything like Satoshi.

meonkeys - 16 hours ago

fascinating. John Carreyrou is the guy who broke the Theranos story!

But https://en.wikipedia.org/wiki/Money_Electric%3A_The_Bitcoin_... is a bit more compelling. Satoshi is Adam Back and Peter Todd.

afpx - 9 hours ago

I always thought it was Argonne that built it. Interestingly it seems that Adam Back did work with them. So maybe?

chistev - a day ago

If Satoshi is still alive (I believe it's a single guy), then it's incredible the amount of self-control he has to not reveal his identity after all these years. Not needing the wealth or the fame and ego-stroking that comes with being behind such a revolutionary technology is enviable.

Not many people are like that.

If he is still alive and just moved on to other things as he said, I can't applaud that kind of personality enough.

c83n2d8n39c9 - 9 hours ago

what if satoshi is not one person but a phenomenon, a group of minds... the interesting thing about the technology is that it is a public ledger and everything that goes along with that when you tie it to the metadata trails across the networks people use it on... ohh the implications

BobbyTables2 - 8 hours ago

Seems like the IRS would have an enormous vested interest in tracking him down too…

gertop - a day ago

I'm surprised that this is the best NYT investigative journalism could do. It's well written and comprehensive, but it also contains no new information.

And I truly mean it, all the proofs listed here are so well known that you're likely to learn just as much by watching one of the hundreds of "Adam is Satoshi!!1" YouTube videos.

Given the title (a quest!) I would have expected some personal findings to be added to the shared narrative, not just rehash of the first 2 pages of a Google search.

potsandpans - 2 hours ago

> I’d learned enough by then to know that P.G.P. relies on public-key cryptography. >So does Bitcoin... > And Mr. Back’s thesis project focused on C++ — the same programming language Satoshi used to code the first version of the Bitcoin software.

This is such poor quality writing, I'm kind of shocked to see it in nyt. It reads like a family guy cutaway lampooning a whodunnit.

I honestly can't believe this warranted a full piece. I was wondering if this a symptom of the author going down some llm psychosis rabbit hole?

_youre absolutely right, you've repeatedly shown signs that back is satoshi. The pattern is clear: back isn't just some cypherpunk, he's Satoshi._

stevenalowe - 15 hours ago

Why does it matter? Changes nothing except doxxing someone

jojobas - 3 hours ago

Why would a newspaper openly try to doxx someone who did nothing wrong?

Clearly the guy doesn't want to be public and there is no public interest in figuring him out either.

apeace - 13 hours ago

I have always thought Satoshi must be dead (as a couple of past suspects are).

How could someone not want one hundred BILLION dollars? There is no person alive who could resist that. I'm sorry, there's just not.

To be fair, if Back was Satoshi, he would need to hide it so his company can go public, or whatever. Because that way he might make -- who knows! -- hundreds of millions of dollars?

Even if moving the coins crashed the Bitcoin price by 90%, Satoshi would still be a billionaire. Generational wealth.

triage8004 - a day ago

Hal Finney

talkfold - 9 hours ago

The guy who took down Theranos spent a year on hyphenation patterns. Respect the commitment.

Simulacra - 9 hours ago

Every time I see one of these articles about "unmasking" Nakamoto, I always wonder the same thing: why? I don't really see a compelling reason to unmask this person. Surely there are other more important things a journalist can spend their time looking into. It's the same with Banksy: why?

Svoka - 5 hours ago

Wouldn't Satoshi own some bitcoin in first blocks? Like about 60 billion worth of bitcoins, the largest wallet in existence? For me this is necessary and sufficient proof of their persona.

blindriver - 6 hours ago

Anyone who has access to Satoshi's account is worth $100B. If Satoshi were still alive some of the BTC would have been moved at least a little but they haven't.

Whoever Satoshi was is now dead.

joshrw - 6 hours ago

Terrible article. The real Satoshi is Nick Szabo and no one else is even close. Hal Finney, Wei Dai, etc. New York Times’ quality has really gone downhill.

dmfdmf - 3 hours ago

My working hypothesis has always been that Satoshi was a CIA or NSA working group partly to fund black ops. Also, it could be that Bitcoin was a psyop to get people used to digital currency followed by the bait and switch to CBDC. Seem to be working.

dyauspitr - 7 hours ago

Maybe this is something to set Claude Mythos loose on. This seems like the kind of thing it would be good at.

nodesocket - 7 hours ago

Seems most probable it was Hal Finney. Hal passed away in 2014 which explains the no movement of the Satoshi coins which are currently valued at a staggering ~$75 billion

- 8 hours ago
[deleted]
lancewiggs - a day ago

I like it. In particular the descriptions of how he reacted when confronted. The public key anecdote is a red herring - there is far more convincing evidence in the article.

ChrisMarshallNY - 8 hours ago

By now, this is a snipe hunt.

If "Satoshi" were to ever try cashing out some of "his" BitCoin, I suspect that things could get interesting.

348asGaq7 - 9 hours ago

It would not surprise me. Adam Back seems to have good connections to the deep state people, too. His company is merging via a SPAC with a Cantor Fitzgerald (Lutnick owned) company.

Cantor Fitzgerald also handles the collateral for Tether, which relocated from the Caribbean (where it was associated with a CIA bank) to El Salvador.

Bitcoin is very handy for avoiding awkward Iran Contra schemes for covert ops. You no longer need Lutnick's friend Epstein to handle the laundering.

themafia - 9 hours ago

Every couple of years they convince some "intrepid" reporters to go make up a story about /the/ creator of bitcoin.

Which I find highly suggestive about the true nature of the creator(s) of bitcoin.

- 6 hours ago
[deleted]
- 6 hours ago
[deleted]
tclover - 4 hours ago

Satoshi Nakamoto is CIA

SilentM68 - 4 hours ago

Satoshi has many contributors. In my view, he/she is not one person but many. Why, because it would take a genius with multiple skills, e.g. engineering, programming, cryptography, mathematics, financial knowledge and a lot of time, a lotta time to come up with something like this.

It is more plausible that Satoshi was a rogue AI, ET, the Illuminati or future time traveler instead of one single person :)

ChrisArchitect - a day ago

Non-paywall: https://www.nytimes.com/2026/04/08/business/bitcoin-satoshi-...

dboreham - 9 hours ago

I'm going to call BS on this. Not that this guy couldn't be Satoshi, but the article has some serious nonsense in it. Ha said he learned to program on a "Timex Sinclair". It wasn't called that in the UK. Did he know the alternative name and auto-translate in speaking to a US journalist? Seems unlikely. Then he used C++! Amazing. So did everyone at that time. He took an interest in PK cryptography. So has every single serious software engineer since the 1990s. It's the same thing as Bitcoin! Seriously. I stopped reading when the next piece of evidence was that he used the word "libertarian".

tomsop - 35 minutes ago

[dead]

tomsop - 36 minutes ago

[dead]

- a day ago
[deleted]
armchairhacker - 14 hours ago

Why do journalists try to doxx innocent people, putting their personal (and here actual) lives at risk? Bansky, Scott Alexander...

Spend this effort investigating corruption.

sagoshi - an hour ago

[dead]

donkeylazy456 - a day ago

another pointless debate. who cares who satoshi is. only TV and magazines.

instagraham - a day ago

I don't think this reveals Satoshi's identity, nor that any prior piece of reporting may have done so. But I do think there's a high probability that Satoshi lurks or has lurked on HN, and perhaps reads these posts with an initial sense of apprehension followed by a chuckle at the inevitable misidentification.

modeless - 9 hours ago

I don't believe anyone claiming that Satoshi is still alive. There is zero chance any human who put so much effort into creating something would remain silent while it became a $2 trillion phenomenon that succeeded beyond their wildest dreams. Satoshi is certainly dead.

uxhacker - 8 hours ago

Using the articles logic.

Obviously Satoshi and Banksy are the same person. They are both from the same era and British.

There are so many people I know from that Era who believed the same things that Mr. Back believed in. Half my work colleagues at the time where interested in distributed computers, Postage pay, and algorithmic payments.

I am not convinced

4oo4 - 16 hours ago

Someone already found this years ago:

https://www.youtube.com/watch?v=XfcvX0P1b5g

I haven't read the full article yet but I'm guessing they didn't give credit, as the New York Times tends to do. Not definitive but it's a very convincing case.

xvxvx - a day ago

He’s not one person but a front for a US law enforcement task force dedicated to tracking down cyber criminals and anyone who would need anonymity online. It started, alongside TOR, as a way for drug dealers, weapons dealers, and pedophiles to do business. Neither cryptocurrency nor TOR are actually anonymous. They’re part of a pretty impressive honeypot ecosystem.

What I’m interested in is the pivot when crypto tried to go legit. Some spook or suit decided that it would be used for other reasons also. Now it has some semblance of legitimacy.

Before anyone asks: social media is another part of the same ecosystem. Nurtured and protected by the government and law enforcement, despite any number of practices that would bankrupt most companies and sent people to jail.

coppsilgold - 9 hours ago

The author has collected more than enough entropy to single out Mr. Back, especially when the anonymity set of who could be Satoshi is so small.

It's either Back or someone who tried to frame him, long before Bitcoin was even remotely successful. Generally, framing someone like this is a poor strategy because it places you in the person's radius as opposed to being absolutely anyone.